Why Sell Gold for Cash

The continuing rise in gold prices has seen more people selling their gold for cash and it has also seen a greater number of companies that are willing to buy scrap gold. The high scrap gold price also means that it has become more difficult to sell decorative pieces of jewellery for anything other than their scrap gold value. If you have broken jewellery or other unwanted gold items then you can sell gold for cash online in order to raise some quick cash.

Gold for Cash  – Determining The Value Of Your Gold Jewellery

The amount that you receive when you sell gold for cash is dependent on a number of factors. Primarily, the value will be determined by the current scrap gold price. It will also depend on the karat of gold that you have and the weight of the item. If your gold jewellery is hallmarked then this makes it easier to identify the karat of the gold although even gold without a hallmark or with a foreign hallmark still holds value.

Gold for Cash  – Gold Purity

The karat of gold is a measurement of how pure it is. 24 karat gold is considered the purest and has 99.99% gold with only trace alloy metals found in it. Most gold jewellery in the UK is 9 karat gold, which is 37.5% pure gold with the remainder being made up of various metals depending on the type or colour of gold.

Gold for Cash  – Weighing Your Gold

When considering selling gold for cash, it is important to know that gold is measured in troy ounces and the scrap gold price is therefore given as such. When gold is weighed, the weight of the item is given as a number and fraction of troy ounces and this figure is then multiplied by the percentage of gold according to the karat measurement. For example, if you have a 9 karat necklace that weighs 1 troy ounce then you effectively have 0.375 troy ounces of gold.

Gold for Cash

Many people choose to sell gold for cash online because of the current value of gold and the ease and speed in which gold can be turned into cash on the Internet. Simply send your items to the buyer and they will return a check according to the value of your gold. If you accept the offer, cash the cheque, otherwise return it to receive your gold jewellery back in the post.