Sell your unwanted gold jewelry the Clark Smart way on clarkhoward.com

MONEY-SAVING MOMENT: We've all seen the ads running constantly on late-night TV that promise to turn your unloved gold jewelry into cash. But is it really worth it?

Consumer Reports' Money Adviser weighs in with some tips and pointers to help you get the most for your gold.

The reality is that most of those ads only pay about a dime on a dollar up to about 20 percent of the daily market value for your gold. Talk about a terrible deal for you!

There is an easy way to figure out the real intrinsic value of gold in your jewelry. Start by looking for the carat, which will be stamped directly on the gold. Then use a kitchen scale to weigh the jewelry and an online calculator to convert the weight based on the carat to determine the value at today's market price.

Now, no one will pay you full retail market price because they've got to make a profit. But this will help you avoid being ripped off. The TV buyers are a joke, according to Money Adviser.

Go with jewelry stores and pawn shops instead. But don't deal with those who won't tell you how much they're paying for gold over the phone. Chances are they want to lure you in to low-ball you.

Finally, remember that jewelry's greatest value is for the design and sentimental value, not the value of the gold contained therein.

Want more info on selling your gold? Check out our gold guide.

What others are saying

SELLING GOLD&SILVER
when does consumer get fair playfair price on anything? 14c.heavyweight gold can be objectively evaluated & has daily market value/price(with or without retail!)..so how can we get that price accordingly?
Is there a way to sell gold silver for its commodity market value which can be scientifically evaluated and measured? why are majority if not all transacttions bent in direction of consumer disadvantage? I'm so sick of this!
By DIANA @ 11/20/09 04:29:34 PMreport abuse
Where to Sell Gold in Atlanta
I would know way endorse anybody, but would like to share my story. I sent my gold in to 2 places that advertise on TV to mail your gold in Gold Paq and Cash for Gold. I was offered $150 and $120 for 45 grams of 14 karat gold or 30 penny weight. The calculator said the gold was worth apx $900. I obiviously told them both no way. I then went to South East Gold Buyers and was offered $270 I then went to Cobb Gold Exchange and was offered $495. I then went to one more place JandJ Metals. I was offered $630. Needless to say I was happy that I shopped around. I knew I was not going to get market price, but wanted the best possible. So it pays to shop and Carol at JandJ is super. I am now going to have a Gold Party!!!
By Tiffany Tabor @ 11/10/09 10:25:17 PMreport abuse
Scrap Gold Buyers Atlanta
I would in no way endorse anybody but I would like to share my experience selling gold. I sent mine in to one of those mail in places and was offered around $80 for my gold. I used clarks calculator and realized that my gold was worth around $562. I had the place send my stuff back and I took it to several local places. I ended up selling to the Gold & Coin Exchange in Marietta after a friend of mine told me that they were mentioned on Clarks show a few months back by a caller. They offered my $400 which was fair in my book. They are a no haggle type of place. There are several places in Atlanta who offer a 10% price match to beat all competition. Turns out they are liars. I brought in the quote from Gold & Coin Exchange into southeast gold buyers and the person there laughed at me and said that the $400 quote must have been a mistake. So i took my stuff back to Rob at the Gold and Coin Exchange and he paid me $400 exactly. They do not price match or beat quotes they JUST PAY. BestGoldRates.com is simply the best in the southeast.
By Robert @ 10/21/09 12:32:30 PMreport abuse
SELLING YOUR GOLD
OK, I have a better idea! If you have a half-way decent amount - Sell your gold to a refiner!!! I have purchased from friends at 60% value (a bit more than the jewelery stores are paying local)then sold it myself making money in the process. I sell to a refiner in Michigan who pays 95%. Yep, 95% period. I weigh it, test it (kits online for less than $50) and this refiner has been completely and totally honest with me.

Now granted I am selling 3 or 4 ounces at the time but I know that they will take smaller amounts. Takes about 10-12 days turnaround. So much better than selling for 10%-50%.
By Tammy @ 10/21/09 08:39:45 AMreport abuse
On the radio too
Around here, Every other ad on the radio is for a jeweler wanting to buy. They'll check it for free, give you a $10 gas card, and pay an extra 10%. They say gold is over $1,000 an Oz. They won't tell you exactly what they pay. I'd be happy to know a ballpark figure. I don't have time or gas to waste if they want to lowball me.
By Kountrykruiser @ 10/20/09 03:53:40 PMreport abuse
Re: @Witty1 posted by Anthony
Anthony, yours is the offensive post since you're just making up things that weren't in Clark's post.
By Breck @ 10/20/09 02:05:52 PMreport abuse
any gold is good gold
I also want to point out that any gold is good gold to turn in for cash. If you have broken gold or you are missing some of the pieces (like an earring), this is perfect for trading in. I work in a pawn shop, and we give money based upon the weight of the gold regardless of the condition.

Gold is at an all time high and the value is going up daily. One small earring could have $60 in gold value. A proper pawn shop ought to give you about $40 for that. That's not bad considering you can't wear it anyhow.

Pawn shops get bad reputations for many reasons, but the Consumer Reports story Clark mentioned (I read it) and a story by Fox 5 news in Atlanta both said pawn shops are good places to get cash for gold. You probably live within a few miles of one; give it a try. If you don't like the offer, just take back your gold and go somewhere else.
By Pawnbroker @ 10/20/09 12:15:20 AMreport abuse
Thanks
That jewelry/metal calculator is awesome.

Thank you!

And yes, I completely agree with "remember that jewelry's greatest value is for the design and sentimental value, not the value of the gold contained therein"
By Kevin @ 10/19/09 09:58:27 PMreport abuse
can't believe it..
I can't believe anyone would package up their gold, silver or jewelry and mail it in for cash! It's a desperate act for the homeless, people who are starving or people too lazy to go to a gold or jewelry dealer. It's like mailing in 10 five dollar bills and being content to get back a twenty. C'mon people-- what are you thinking?
By Witty1 @ 10/19/09 05:27:04 PMreport abuse

SELLING GOLD&SILVER

when does consumer get fair playfair price on anything? 14c.heavyweight gold can be objectively evaluated & has daily market value/price(with or without retail!)..so how can we get that price accordingly?
Is there a way to sell gold silver for its commodity market value which can be scientifically evaluated and measured? why are majority if not all transacttions bent in direction of consumer disadvantage? I'm so sick of this!

By DIANA @ 11/20/09 04:29:34 PMreport abuse

Where to Sell Gold in Atlanta

I would know way endorse anybody, but would like to share my story. I sent my gold in to 2 places that advertise on TV to mail your gold in Gold Paq and Cash for Gold. I was offered $150 and $120 for 45 grams of 14 karat gold or 30 penny weight. The calculator said the gold was worth apx $900. I obiviously told them both no way. I then went to South East Gold Buyers and was offered $270 I then went to Cobb Gold Exchange and was offered $495. I then went to one more place JandJ Metals. I was offered $630. Needless to say I was happy that I shopped around. I knew I was not going to get market price, but wanted the best possible. So it pays to shop and Carol at JandJ is super. I am now going to have a Gold Party!!!

By Tiffany Tabor @ 11/10/09 10:25:17 PMreport abuse

Scrap Gold Buyers Atlanta

I would in no way endorse anybody but I would like to share my experience selling gold. I sent mine in to one of those mail in places and was offered around $80 for my gold. I used clarks calculator and realized that my gold was worth around $562. I had the place send my stuff back and I took it to several local places. I ended up selling to the Gold & Coin Exchange in Marietta after a friend of mine told me that they were mentioned on Clarks show a few months back by a caller. They offered my $400 which was fair in my book. They are a no haggle type of place. There are several places in Atlanta who offer a 10% price match to beat all competition. Turns out they are liars. I brought in the quote from Gold & Coin Exchange into southeast gold buyers and the person there laughed at me and said that the $400 quote must have been a mistake. So i took my stuff back to Rob at the Gold and Coin Exchange and he paid me $400 exactly. They do not price match or beat quotes they JUST PAY. BestGoldRates.com is simply the best in the southeast.

By Robert @ 10/21/09 12:32:30 PMreport abuse

SELLING YOUR GOLD

OK, I have a better idea! If you have a half-way decent amount - Sell your gold to a refiner!!! I have purchased from friends at 60% value (a bit more than the jewelery stores are paying local)then sold it myself making money in the process. I sell to a refiner in Michigan who pays 95%. Yep, 95% period. I weigh it, test it (kits online for less than $50) and this refiner has been completely and totally honest with me.

Now granted I am selling 3 or 4 ounces at the time but I know that they will take smaller amounts. Takes about 10-12 days turnaround. So much better than selling for 10%-50%.

By Tammy @ 10/21/09 08:39:45 AMreport abuse

On the radio too

Around here, Every other ad on the radio is for a jeweler wanting to buy. They'll check it for free, give you a $10 gas card, and pay an extra 10%. They say gold is over $1,000 an Oz. They won't tell you exactly what they pay. I'd be happy to know a ballpark figure. I don't have time or gas to waste if they want to lowball me.

By Kountrykruiser @ 10/20/09 03:53:40 PMreport abuse

Re: @Witty1 posted by Anthony

Anthony, yours is the offensive post since you're just making up things that weren't in Clark's post.

By Breck @ 10/20/09 02:05:52 PMreport abuse

any gold is good gold

I also want to point out that any gold is good gold to turn in for cash. If you have broken gold or you are missing some of the pieces (like an earring), this is perfect for trading in. I work in a pawn shop, and we give money based upon the weight of the gold regardless of the condition.

Gold is at an all time high and the value is going up daily. One small earring could have $60 in gold value. A proper pawn shop ought to give you about $40 for that. That's not bad considering you can't wear it anyhow.

Pawn shops get bad reputations for many reasons, but the Consumer Reports story Clark mentioned (I read it) and a story by Fox 5 news in Atlanta both said pawn shops are good places to get cash for gold. You probably live within a few miles of one; give it a try. If you don't like the offer, just take back your gold and go somewhere else.

By Pawnbroker @ 10/20/09 12:15:20 AMreport abuse

Thanks

That jewelry/metal calculator is awesome.

Thank you!

And yes, I completely agree with "remember that jewelry's greatest value is for the design and sentimental value, not the value of the gold contained therein"

By Kevin @ 10/19/09 09:58:27 PMreport abuse

can't believe it..

I can't believe anyone would package up their gold, silver or jewelry and mail it in for cash! It's a desperate act for the homeless, people who are starving or people too lazy to go to a gold or jewelry dealer. It's like mailing in 10 five dollar bills and being content to get back a twenty. C'mon people-- what are you thinking?

By Witty1 @ 10/19/09 05:27:04 PMreport abuse

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Oct 19, 2009 -- Sell your unwanted gold jewelry the Clark Smart way

What others are saying