Looking for Cash? The Real Value of Your Gold Jewelry
recently bought $163 of 14k gold jewelry at retail price and then solicited offers on the gold from four different vendors.
Who couldn't use a little extra cash these days, but is selling that old gold jewelry a good option? And will you get a fair price?
Liz Crenshaw, senior consumer reporter for NBC's Washington DC station,recently bought $163 of 14k gold jewelry at retail price and then solicited offers on the gold from four different vendors. Anexpert valued the scrap metal in the jewelry at just $18.30 and suggested that a fair vendor would offer about half that. (See Turning Gold Into Green for pricing explanation.)
After seeing $163 dwindle down to about $9, selling old jewelry for scrap metal doesn't seem like such a lucrative idea. If you itemize on your tax returns, you may want to consider donating your jewelry and deducting the full retail value, intstead. Or if its a collector's piece, selling it on eBay. There are other options for Finding Cash Fast that may be more valuable.
Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
Still, if you've got a stash of old treasures you'll never wear or give away, check-out Crenshaw's report in the video below to find out if the vendors she solicited offered her a deal or a steal.
View more news videos at: http://www.nbcwashington.com/video.
Got a practical tip to bolster cash flow? Please share it below!
To continue reading this article
please register for free
This is different from signing in to your print subscription
Why am I seeing this? Find out more here
-
Stock Market Today: Markets Soar Amid Strong Earnings for Big Tech
Equities ended the week on an up note thanks to some of the market's biggest names.
By Dan Burrows Published
-
Earn Delta SkyMiles Worth Up to $1,800 with an AMEX Business Card
Delta SkyMiles and American Express offer 150,000 on business credit card for new cardholders.
By Ellen Kennedy Published
-
5 Ways to Save Money on Vacation Rental Properties
Travel Use these strategies to pay less for an apartment, condo or house when you travel.
By Cameron Huddleston Published
-
10 Annoying Hotel Fees and How to Avoid Them
Travel Here's how to avoid extra charges and make sure you don't get stuck paying for amenities that you don't use.
By Cameron Huddleston Last updated
-
How to Appeal an Unexpected Medical Bill
health insurance You may receive a bill because your insurance company denied a claim—but that doesn’t mean you have to pay it.
By Rivan V. Stinson Published
-
Amazon Prime Fees Are Rising. Here’s How to Cancel Your Amazon Prime Membership
Amazon Prime Amazon Prime will soon cost $139 a year, $180 for those who pay monthly. If you’re a subscriber, maybe it’s time to rethink your relationship. Here’s a step-by-step guide to canceling Prime.
By Bob Niedt Published
-
How to Haggle for Almost Anything
Smart Buying Learning how to haggle is an invaluable skill. These strategies will help you negotiate a better price for just about any product or service.
By Katherine Reynolds Lewis Last updated
-
Disability Insurance Can Provide COVID Coverage
Coronavirus and Your Money If you are concerned about long-term complications from COVID-19, consider disability insurance coverage.
By Rivan V. Stinson Published
-
21 Things You Can't Return to Amazon
Before tossing these items into your virtual shopping cart, be sure to read Amazon's return policy first.
By Bob Niedt Last updated
-
How to Avoid a Charity Scam
personal finance Scammers never quit, even when you're trying to be altruistic. But you can avoid getting duped if you do your homework.
By Rivan V. Stinson Published