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This might sound like a new gold rush but it is truly an unquestionable urge: cash for gold. Yes, you have heard of it through the printed media, radio and television inviting you to sell your unwanted jewelry to get extra cash to cope with your every day expenses. However you should understand the idea behind cash for gold before proceeding.

The rush for buying unwanted gold jewelry and gold items is due to the large number of companies that melt these pieces down, similar to other recycling processes, but with the advantage marketing a metal which price always rises in the market. Therefore the items that you can sell vary as much as the amount of money you can get.

The best way to sell gold for cash is to totally skip the people in the middle and go straight to the refinery. The actual value in the item itself is the actual gold value once it is melted down. The more people involved in getting it from the original owner to the refinery cut down on the value to the original owner. For example, let’s say you have an old gold chain with a broken clasp that you do not use or wear anymore. It is just collecting dust in a drawer and you want to see what value it could have to sell it for gold. If you take it to your local pawn shop you will only receive a partial true value because the pawn broker will be selling it to the gold refiner. He obviously expects to make a profit on the deal. The pawn shop cannot remain in business unless it maintains an acceptable profit margin. However, if you take the gold necklace to the gold refinery then you receive the most value possible for the gold.

However, this formula may not provide an accurate price due to the fact that wholesale operators buying and selling gold will purchase it at a deep discount, and then mark it up for a profit.

Look for gold refinery facilities in your area. They will not be on every street corner and you will have to exert a little effort to find them but they are a rich source of revenue for your unwanted gold items when you locate them. Look on the internet and locate one in your area. Perhaps you will have to drive for a little distance to get there but it will be worth it. Or, call ahead and many will take your items by mail.

Selling gold will not likely result in great wealth to the average seller of old jewelry, but it can put a few dollars in their pockets. Wealth derived from the sale of gold can only happen if great amounts of weight are involved. Unless a treasure chest is dug up or recovered from the bottom of the sea, the chances are that the sale of most gold jewelry may be a bit disappointing for the rookie. Long gone are the days of the 49ers and the gold rushes of early America, but there is always the possibility of finding a gold nugget in the backyard.

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