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In these hard economic times, people have started looking at unusual ways to bring cash back into the home. One inventive way they are doing this is by selling what gold they have lying around the house to gold wholesale companies. It helps that the selling price of gold has hit record highs recently. Selling old gold chains, rings, bracelets and other pieces can generate a great cash windfall, all the while cleaning out that dusty jewelry box. It's not just rings and other jewelry items that are being sold, as broken and damaged pieces and even gold fillings are also fair game.

Before you do begin the process, make sure you know the current value or gold per troy ounce. A troy ounce is slightly more than the standard ounce used in cooking. A troy ounce is used when weighing precious gemstones and metals, such as when fine metals, gold and diamonds are bought and sold. Gold prices are determined using the standard of a troy ounce, so knowing the current price can give you the confidence you need to compare and select the best price for precious metals and stones that you may come across.

Choose a buyer or wholesaler that makes their living purchasing all types of gold and jewelry. This is preferred, since you may have gold items of differing types. As a general rule, most gold wholesale buyers want gold that is above 14 karat, so know what you have before you go to a wholesaler. Having gold that is less than 14 karat may result in not being able to sell your pieces. Class rings are more often than not only 10 karat gold. It is important to choose a company that has the ability to buy more than wholesale 14k gold; they should be able to handle from 24 karats on down to 8 karats, for the best results.

Selling your gold wholesale should not involve high pressure sales tactics. Trustworthy gold jewelry wholesalers will never put undue pressure on you to accept a low-ball offer or give you a price before they have even examined your pieces in person. If you choose to go with a mail order company, then remember that there should be no return charge if you decide not to accept their offer.

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