The reason the old jewelry could be worth money is that precious metals prices have been going up in recent years
. Some precious metals are now trading at well over $1,000 an ounce. The price for these materials is going up because the economic downturn has made investors leery of stocks and other investments.
This could translate into extra cash for you and your family because buyers are paying record prices for jewelry, coins and other items made from such metals. Some jewelers are also paying good prices for diamonds and other gems.
How to Sell Your Gold
Not surprisingly many people want to know where to sell their jewelry and similar valuables. The best place to sell precious metals is at a locally owned jeweler and licensed trader.
A reputable jeweler will examine any items you bring in and tell you if they are valuable. Something to keep in mind is that most jewelry will not fetch the prices you see in the newspaper. Those prices are for pure precious metals, most of the metals used in jewelry are only partially made of gold, silver or platinum.
Even though the prices will be lower these items can still be very valuable. It is quite possible that an old watch, chain, ring or bracelet could still be worth several hundred dollars. The store should be able to pay a person for the metal in cash, check or a direct deposit to a bank or Paypal on the spot.
The best place to sell such heirlooms will be at a locally owned jewelry store. A reputable jeweler will examine the items on the spot and make an offer for them. If a person can't get out to a store, there are even some buyers that will come to an individual's home and examine them there.
Persons in the New York area are in luck because there are many licensed gold traders in the region. These outfits could pay much better prices for items than dealers in other parts of the country.