Make Extra Cash for the Holidays. Here's What to Sell

Holidays are the best time of year. Unfortunately, they can also be the most expensive time of year.  Buying gifts for your friends, your loved ones, and your co-workers...that can get expensive.

But the gifts don't have to break the bank. Here is a list of some things you may have to sell. Who knows, you may even have enough left over to buy yourself something nice. 

• GOLD- Sell those gold earrings, gold rings, gold chains or anything marked 10k or above that you don't wear anymore. Just open your jewelry chest and you could have a gold mine. 

• STERLING SILVER: Sterling flatware and other items marked 925 may not be gold, but the more you have the more money you can get. 

• DIAMONDS:  Have any diamond rings, loose diamonds, cushion cut, marquis cut, round, pear shaped, diamond pendants or diamond watches?  If you don't wear the piece of jewelry any more than your diamond can fetch a lot of money. Of course it depends on the size, color, quality and cut of the stone, but diamonds are valuable. 

• COINS: Gold, Silver, platinum and palladium coins can hold very high values. Whether its a Silver Dollar (made 1964 or earlier) or a $50 1 oz gold coin there is cash to be made. 
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For more information on the value of your treasures, visit our website, www.atlantagoldsilver.com

Have a gift-filled Holiday Season, 

From your Friends at Atlanta Gold & Silver

Is Your Gold Fake?

Many times people will bring in heavy gold chains, usually marked 14K, to sell at Atlanta Gold and Silver. Even with a mark, we always test the metals in one or two ways to ensure its authenticity.  First, we do a scratch test with acids for the various Karats.  However, sometimes this may not be fool-proof method, especially when their is heavy metal plating involved. Second, we put the jewelry in our x-ray machine and it gives us a full report of the metal composition.

Here's the bad news...sometimes a chain or piece of jewelry that someone has purchased is not what it appears to be.  Just like counterfeit Louis Vuitton or Gucci handbags, jewelry counterfeiting with hallmarks is a serious problem.  We always feel badly when we have to tell our customer that we can't buy the piece from them, especially when they tell us how much they originally paid for the item.

So, we always try to tell our clients to be very wary before purchasing jewelry (precious jewelry such as gold, silver and diamonds) from an unauthorized source or person via eBay, craigslist or even a flea market.  Many times if a deal is too good to be true, it generally is.  Not to say that you won't find some hidden treasures around town, but when you are investing in something like gold to resell, make sure to look for a few factors. 

- Is it magnetic?  Magnets, unlike acid testing, are an easy thing to bring around with you.  They are also the easiest way to rule out fake metals (ones that are not pure gold or sterling).  If the piece is drawn to the magnet (and it says 14k or even 18k), it is fake. 

-The hallmark: Look closely at the Hallmark on the item and where it is placed. If it looks like the mark is cut off or says something else, that is also a tell tale sign to walk away. 

It's fake!  How do we know?  The acid test created a green color. 

-Another easy way to spot a fake is to look closely at the metal. This is especially true when it comes to used jewelry such as pendants and rings that are marked 14k. If closely and see peeling of any sort, like the gold is fading off, then it is not correctly marked. 

In this industry sometimes, taking risks can end up making you a fortune, but beware because there are a lot of counterfeit pieces of jewelry floating around. 

Diamond Due Diligence

Diamonds are on our mind today. Here is some info, resources, and a crazy story (and lesson) ) for you to explore. 

If you are looking to sell valuable diamond jewelry, such as heirloom pieces, estate diamonds or even a diamond ring, make sure to do your research first.  At Atlanta Gold & Silver, we have many clients who bring us very expensive pieces they want to sell.  In order to make sure we can give them the price they want from their diamond jewelry, we take our time and work with all of our resources to make this possible.  That does not mean, however,  that we can guarantee you will get the amount of money you think your diamond is worth, but we will get you an amount that will make you happy. Most importantly, we do not pressure our clients to settle. 

If you do have some jewelry that has been in the vault for years and the value is over $8 thousand, or maybe an old engagement ring that you don't want, make sure to get the jewelry certified.  Whether it is a diamond ring, an antique diamond pin or a diamond necklace, it is essential to get it certified and graded by the GIA (Gem Institute of America) every 10 years.   There is a small cost involved, but it will net you a lot more money when you sell. The website is very informational and provides all the information you need to submit your gem for grading.  They even have a page updated weekly that tells you the turnaround time for your diamond.

Note:  An appraisal, from a jewelry store or insurance company, is not the same as GIA certification. In fact, you may notice a large difference between the appraised price and the actual amount you are offered. That is because, appraisals are based on replacement value and the retail price of a similar piece. 

Even if you don't send your stone to the GIA, the site still provides a wealth of information about diamonds and other gem stones, including all the factors and varieties that can increase or decrease the value. Remember, the bigger the size does not always mean the bigger the value. Value is based on the quality of the stone.

If you are in the market to buy a diamond ring, or invest in a diamond, make sure to do your research on the GIA website. With the knowledge about all factors including slight differences in color and cut, you will be a much more informed and smarter buyer. Also, when making a large investment in a stone or diamond jewelry, always insist on the certification of the piece to ensure that you are getting exactly what you pay for.


Now for the lesson:  Always check your pockets.  One Huntington Beach woman made this terrible mistake when she sold a jean jacket in a garage sale for $20.  Later, she realized that her diamond earrings, worth $18,000 were still in the pockets. Read the full story here.

Old Coins Can Be Worth More Than You Think

 For years, people have been saving up there up their coins for a rainy day. Whether or not you ever cash them in, it feels good to know that they are there if you ever need them.  

But what you may not realize, especially if you have inherited a family members old coins, or you yourself have a jar stashed somewhere that you started collecting many years ago, is that there may be a lot more value in that old jar of coins than meets the eye. 

In fact, at Atlanta Gold and Silver, we have been seeing a lot of people coming in with old coin collections and walking out the door with a large check in hand. Of course, not every old jar of coins is valuable (in terms of silver, you want to look for dimes and quarters pre 1965), but there is no harm in looking. 

So, how do you know if your bag of dimes is worth more than, well, a bag of dimes? Here are some things to look for and some tips that may help you find some substantial money laying around the house.

Note: these values are not absolute and they are based on the price of silver in May 2013.  These are based the melt value, and do not consider condition or possible collector's value. 

• 1916-1945 Mercury dimes.  These are 90% silver (10 percent copper) and each dime can fetch a price of around $1.50 
  
• 1946-1964 Roosevelt Dime: Despite the year, these dimes are the same weight (2.5 grams) as the Mercury dimes and are worth the exact same as the earlier dimes. 

• The rest of your dimes (beginning in 1965), are simply dimes worth 10 cents each. 
• 1916-1930 Standing Lady Liberty Quarter.  If you happen to have these in your old stash, you are in luck. At 6.25 grams, you have a little over $4 in silver value. 

• 1932-`1964 Quarter.  Any quarters during this period (before 1965) are worth the same as the Lady Liberty Quarters and weigh the same 6.25 grams.
• While you are less likely to have half dollars just collecting dust in the house, it's still worth looking.  Any half dollar minted in 1964 or earlier can be worth about 12 dollars. 
• Even the ones that are made between 1965-1970 still have a little value in them (they are composed of 40% silver, compared to the pre-1964 90% silver ones)

Here are a few more coins that may bring you some extra cash..

• Morgan Dollar (1878-1921).  Based on the price of silver, you could have about 17 dollars in just one of those. 
  
• Peace Dollar (1921-1935) Same as above

To find out more about the different types of coins and mintage of the coins, visit http://www.usmint.gov/

That's What We Call a Rock

During a recent Christie's New York  Spring  auction sale, a diamond, called the Princie Diamond was sold for more than $39.3 million dollars this past week. The diamond is a 34.65 carat fancy intense pink cushion-cut diamond.

This price is a new record for Christies for any price of a jewel every sold. To read more about the origin and the history of this diamond, click here.

But that wasn't the only diamond that seemed to draw big buyers in at the auction. Here is a roundup of some of the other impressive jewelry sales. 

 

• A diamond ring by Harry Winston sold for $3.3 million. The ring was set with a marquise-cut diamond, weighing approximately 23.30 carats, flanked on either side by a tapered baguette-cut diamond and mounted in platinum (source: Christie's)

•  A three strand natural pearl necklace sold for $1.1 million 
  
• An 11.39 D Color internally flawless Emerald Cut Diamond fetched  $1.3 million

• A Harry Winston Diamond and Emerald Necklace was sold for $1.2 million
  

The auction took place in New York on April 16th.  Apparently, diamonds were the star of the show.  For more about the auction, visit www.christies.com

How much is your silver and gold worth?

`We often get calls from people, who want us to quote them a price over the phone for their various pieces of jewelry. Unfortunately, we are not able to do this because there are many factors that determine the actual value of your gold and silver. These factors include the purity (10kt, 14kt, 18kt, 22kt), the weight, the weight of stones in the jewelry as well as the spot price of gold and silver. We always recommend people just bring in what we have so that we can give them an accurate offer. But, if you are trying to decide a ballpark figure of the value of your unwanted jewelry, we have a tool that may help you get a better idea of what you have.

Gold Calculator:

These are not accurate by any means but if you do know the carat purity of your gold or it is marked sterling silver, and you have an exact weight, there are metal calculators that will bring up an estimate for you.

**Beware, however: These prices fluctuate by the hour and there is no guarantee that the actual items will generate you the money in the calculator. 

REMEMBER: THESE CALCULATORS ARE NOT CONCRETE AND DO NOT REFLECT THE PRICE THAT ATLANTA GOLD AND SILVER OFFERS.

**Here are a few sites where you can check out theses tools:
http://www.goldintomoney.com/calculator
http://coinapps.com/silver/coin/calculator/ - This is a great option if you have a lot of silver coins in your coin collection.  Basically, it gives you an estimate, based on the type and number of coins you have.

Not sure of the weight?  Try searching the Internet for a similar item. Generally if it is listed for sale somewhere, they will include the total weight of the item. Then you can insert that weight into the calculator for a better picture of what you have.

For some sample prices, and to get a general idea, click here.

Top 3 Reasons Why You Should Still Sell Your Gold and Silver

Even though gold prices have dropped, that does not mean you should not sell your unwanted jewelry and gold.  Here are 3 top reasons why it's still okay to cash in your silver gold and platinum when the prices are low.

1. SPRING CLEANING. If you have items that are gold or silver or old diamonds just sitting and collecting dust, why not sell? 
2. YOU STILL MAKE MONEY. Just because the prices of the metals are not sky high, does not mean you can't make money. In fact, there is still a lot of money to be made from your unwanted scrap metals.




3. BUY NEW and trade old. Buy that new piece of jewelry you deserve.  Out with the old and in with the new.


To find out more about how to sell your silver and gold, click here.