When you step into cash for gold shops, you’re entering a world that revolves around precious metals. But what happens to the stones in jewelry at these shops? Let’s explore this fascinating question.
Understanding the Cash for Gold Business
Cash for gold shops primarily deal with precious metals. They aren’t jewelers, and their main interest lies in the gold, silver, or platinum in your jewelry. So, what does cash for gold pay for? The answer is straightforward: the precious metal content.
The Journey of a Gemstone
When you sell your jewelry, the gemstones embark on a different journey. Cash for gold shops typically don’t pay for these stones. In fact, they might even deduct some weight for them. Why? Because these shops send all scrap gold to smelters, who also pay only for the precious metals.
The Fate of the Gemstones
Small stones, especially, are not worth having professionally removed. The resale value of these used stones is significantly lower than retail prices, often 5 to 10 times cheaper. So, if you’re thinking, “Can I sell gold for cash and also get paid for the stones?” the answer is usually no, not at a cash for gold shop.
Factors Influencing the Value of Gemstones
Not all stones are precious. Their value can vary greatly. If you’re wondering how to sell gold for cash and get the best value for your gemstones, consider having them removed by a jeweler beforehand.
Why Cash for Gold Shops Offer the Best Value
These businesses often provide the best value for your precious metals. High street jewelers may only offer half the price of the precious metal content. Cash for gold shops, on the other hand, specialize in precious metals, which means they can often offer a more competitive price. So, if you’re asking, “Is selling gold for cash worth it?” the answer is a resounding yes!
Tips for Selling Jewelry with Gemstones
If you’re selling to a high street jeweler, you should have them pay extra for your stones because they can repurpose them. However, remember that the best value for your precious metals is often found at cash for gold shops. For more tips visit this blog and many more in our news and article section.
Cash for gold locations offer a quick and convenient way to turn unwanted gold into cash. When it comes to gemstones, it’s a different story. However, understanding this can help you make informed decisions when selling your jewelry, ensuring you get the best value for your precious metals.