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Need some extra money? Look in your jewelry box. Do you have some old gold accessories that are broken, unmatched or simply old and out of fashion? Think of it as a form of money that retains value. Unless it has a sentimental meaning for you, like a pendant you received for your sweet 16 (or your late granny’s teeth), you can cash it in!

Now is not a bad time for this, while gold prices are on the rise. The market value has rocketed almost 300% in the last five years.

When you sell gold, please keep in mind, you will be only paid for the precious metal itself, the craftsmanship of the jewelry piece will not be considered. So if you have antique or beautifully crafted jewelry, you should try to sell it as an artifact, not as gold.

Of course you would like to have a rough estimate of what you can get for your gold pieces. The payment will be based on gold content, weight, and the daily price of the gold. Clearly, the higher the proportion of gold used in the final metal, the more expensive it will be. The gold content is measured in Karat. (Please, don’t confuse it with Carat that is used to measure the weight of diamonds and gemstones). The gold Karat measures the proportion of pure gold to other metal alloy mixed to make up the final metal.