When it comes to making some fast money, few things are more effective than selling old or unused gold or silver jewelry. However, many people don’t actually know how to sell their jewelry for a good profit. While it’s always possible to sell jewelry via online auction sites or in classified ads, these methods of generating cash are pretty slow. It could take days or weeks before the money actually lands in your hands. For this reason, it is best to find a place that will Buy Gold and Silver in Amarillo TX locally. There are several top notch pawn stores in the area that will do exactly that.
Before taking the jewelry in, be aware that every piece needs to be evaluated based on a couple of different factors. The first of these factors is the karat weight. Karat weight is so important when analyzing jewelry because it denotes the purity level of the piece. The higher the karat number in gold jewelry, the more valuable and the more pure it is. Gold that is 24 karat is 100 percent pure gold and commands the highest gold prices as a result. Gold that is 14 karat is 14 parts gold with 10 parts of another base metal, so the value is lower. With silver, there are only two purity levels that are generally accepted: 92.5 percent sterling (also known as sterling silver) and fine silver (generally 99.99 percent pure.)
The second important factor in determining the value of a gold or silver jewelry piece is the melt value. This is the value of the piece when it is melted down into only the base metal. During the melting process, any decorative stones will be removed. Thus, most gold and silver buyers do not make offers based on the value of the stones in the ring, but rather on the metal itself. Diamond rings are usually the exception to this rule, and they may be evaluated differently due to the high value of diamonds.
If you are looking for a reliable place to Buy Gold and Silver in Amarillo TX, consider visiting Damron’s Jewelry Guns and Pawn. They are a friendly local pawn shop that has experienced and highly qualified staff.