Gold prices are soaring, and people across the country are cashing in. Jewelry shops and gold buyers are seeing a spike in customers after gold recently reached a record high of $3,400 an ounce.
Although prices have dipped slightly from that April peak, gold remains near all-time highs. Over the past two years, its value has doubled — making now a prime time to turn old jewelry into profit.
“It’s stuff I don’t wear anymore, so why not bring it here?” said Kurt Shearer, who recently sold unused pieces at a local gold-buying shop.
He’s not alone. Many people are digging through drawers and jewelry boxes for items they haven’t worn in years.
Becky, another customer, brought in rings and bracelets. “It would be worth it, yes,” she said, hopeful for a good return.
What Determines the Value of Your Gold?
The amount you can make depends on several things.
Adam Andrus, owner of Effler Jewelers in Cincinnati’s Hyde Park, said the price is based on weight and purity.
“It all depends on the weight, and what carat it is — like if it’s 14-karat or 18-karat,” he explained.
The higher the karat, the more gold the piece contains. For example, 18-karat gold is nearly pure, and that makes it much more valuable.
Some pieces can be worth a lot more than expected. One customer brought in a thick 18-karat bracelet and walked away with nearly $15,000 in cash. They declined to comment or appear on camera for privacy reasons.
Most items won’t bring in that much, but they can still offer a nice payout.
To give you an idea, a thin 14-karat gold necklace weighing 10 grams is currently worth about $400, according to Gold Calculator USA.
Why Now May Be the Best Time to Sell
Experts say this could be a good moment to sell if you have old gold jewelry sitting unused.
“If you’re not going to wear it, and no one else wants it, it does no good sitting in a drawer,” Andrus said.
That was the thinking behind Shearer’s visit to the shop.
“It went very well. Glad I came in!” he said after his sale.
Don’t Overlook Forgotten Treasures
As long as your jewelry isn’t costume or imitation, it could be worth a surprising amount in today’s market.
Those old rings, chains, and bracelets might be more than just forgotten keepsakes — they could be a hidden source of cash.
Related topics:
- Trump Tariff Threat Forces Pandora to Restructure Global Supply Chain
- CHS Senior Wins Jewelry Design Competition with ‘Sea Breeze’ Ring
- Pandora Names Xia Zhiguang as New Brand Ambassador
