Do you have old or broken gold rings taking up space in your jewelry box? We at Cash for Gold USA will buy your rings and give you cash for bills, gifts, or whatever else you have in mind. Here’s what you need to know, plus why we’re the right choice to sell a class ring, engagement ring, or other gold jewelry.
Where Can I Sell My Jewelry Near Me?
One of the most traditional places to sell your jewelry is at an in-person gold buyer like a jeweler or pawn shop. At these kinds of brick-and-mortar stores, the buyers will assess the value of your ring and offer you a portion of that price. Another option is to sell your ring to an online gold buyer. Instead of going to a store, you’ll simply ship your ring to the buyer. At Cash for Gold USA, we aren’t looking to resell your ring as-is and can offer you the full material value of your ring.
Why Should I Sell a Ring Online Instead of in Person?
First, online buyers don’t have the overhead costs of running a store, allowing them to pay significantly more for your items. You also don’t have to spend time and effort going to the store and waiting in line; everything can be done from home in just a couple minutes. Online buyers also welcome broken or flawed rings, allowing you to clean out your jewelry box and get fast cash when you need it most.
How Is the Value of Gold Determined?
The actual value of a gold ring will vary depending on its features and the buyer. However, the base material value can be determined using the weight, purity and current market price for gold.
The most common purities of gold are:
- 24k: 99.9% gold
- 22k: 91.7% gold
- 18k: 75% gold
- 14k: 58.3% gold
- 10k: 41.7% gold
- 8k: 33.3% gold
The market price always refers to 24k purity. For any lower purity gold, multiply the market price by the percent purity as a decimal. For example: As of January 4th, 2021, the current market price for gold is about $62.35 per gram. The approximate value of 14k gold, therefore, is $62.35 x 0.583 = $36.35 per gram.
How Much Is My Gold Ring Worth?
The answer to “how much is my ring worth” will always depend on its specific features and the buyer’s interests. What is its gold purity? How much does it weigh? Does it have gemstones? Are there other aesthetic elements that make it desirable as a ring? Do they plan to resell it as a ring or buy it for materials?
The only way to know for sure how much a particular buyer will offer you is to have them assess it. At Cash for Gold USA, we respond with our best offer within 24 hours. We also offer an online gold calculator for quick estimates.
How Much Is My Gold Diamond Ring Worth?
This is a good example of a situation in which other non-gold features of the ring will play a role in its value. In addition to the value of the gold band and setting, the amount you can get for a gold diamond ring will include the value of the gemstones on the piece. In the case of diamonds, this will be determined based on the stones’ cut, clarity, color, and carat weight (the “4 Cs”).
Buyer intention will also play a role here. If the buyer is interested in selling your ring as a piece of jewelry, the amount you’re offered will be strongly driven by the quality and desirability of the ring and its diamonds as a jewelry piece. If the ring is broken or the diamond is very flawed, they may not agree to buy your ring at all. If the buyer is interested in the materials, on the other hand, their offer will not involve its fashion value.
How Much Is a 10k Gold Ring Worth?
Again, the answer to this question depends on the features of the ring and the intent of the buyer. However, knowing that it is made from 10k gold can give us some idea of the ring’s basic material value.
Here’s how you might estimate the value of a simple 10k gold band:
- Find the current market price for gold and multiply it by the purity of the gold. As of January 4th, 2021, the market value for pure gold is about $62.35 per gram. Because the purity for 10k gold is roughly 42%, the price per gram for 10k gold can be calculated as $62.35 x 0.42 = $26.19.
- Multiply this price by the item’s weight (using the same units). If the ring is 4 grams, for example, its value is calculated as $26.19 x 4 = $104.76.
Remember that this is only a rough estimate for the gold itself and doesn’t necessarily represent the payout you can get from a particular buyer.
Why Should I Sell My Gold Ring to Cash for Gold USA?
At Cash for Gold USA, we make it easy to sell your gold ring for the most cash. Here’s why we’re confident we’re the best choice.
- We provide free shipping materials and insure your shipment for up to $1,000.
- Within 24 hours of receiving your gold ring, we’ll have it assessed and send you our best offer. If you’re satisfied, simply cash the check and enjoy!
- If you aren’t happy with our offer, we’ll return your items to you right away at no additional cost.
- We pay roughly 3x more than our leading competitor, as confirmed in an undercover investigation by a Fox News affiliate.
- Our Gold Price Maximizer policy ensures that you get every penny your gold is worth. If the price of gold increases within 30 days of sale, we’ll send you an additional check for the added value.
Want to find out how much we can give you for your gold ring(s)? Fill out our online form or call (866) 300-1430 to get started!