If you’ve got unwanted jewelry that you’re ready to sell, we’ve vetted several options for selling your gold necklaces. Whatever the reason — the necklace is out of style, it evokes bad memories or you simply need cash fast — you’ll get no judgment here.
Bottom line upfront: If you want the best place to sell your gold necklace for cash, we recommend CashforGoldUSA, with its A+ BBB rating and payment within 24 hours.
Keep reading to learn more about:
- How to sell gold necklaces
- Where to sell your gold necklaces
- How to negotiate with gold buyers
- Answers to FAQs about gold necklace buyers
How to sell gold necklaces
Check jewelry stamps on the necklace to understand the value
It's important to understand exactly what your gold jewelry is — the karat of gold, weight, and in some instances, the brand. Familiarize yourself with gold hallmarks, or stamps, that signify the karat of gold — even if you think you know what you have.
This chart gives you an idea of the value of amount of gold per karat in yellow gold, assuming a price of $2,000 per troy ounce:
| Stamp | Purity | % gold | Spot value |
| 999 | 24 karat | 99.9% | $1,998.00 |
| 990 | 22 karat | 99% | $1,980.00 |
| 750 | 18 karat | 75% | $1,220.60 |
| 585 | 14 karat | 58.3% | $1,166.00 |
| 375 | 9 karat | 37.5% | $750.00 |
Check today’s gold price
To get an idea of how much your gold necklace might be worth, check the current price of gold. Gold prices go up and down. Experts are optimistic that the Fed has reached the peak of its rate hikes, and prices have returned to near record highs set in May 2023.1
As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.
Learn more about what affects the price of gold in this post.
Research reputable gold buyers
Ask friends and neighbors for recommendations for where to sell your gold necklace, and then do a google or Bing search: look for Better Business Bureau, Yelp! and Trustpilot reviews, look for price-match guarantees, free shipping for online gold buyers.
This post outlines top gold buyers, including in-person gold selling options like pawnshops, antique and jewelry stores, cash for gold locations, gold recyclers, and online gold buyers.
Where to sell used gold necklaces
Typical places people sell old jewelry include jewelers nearby, pawn and consignment stores, cash for gold outlets, and online jewelry buyers.
There are safe, reputable sites that will help you sell a necklace and other fine jewelry — including gold, platinum, gemstone, pearl, diamond, engagement and bridal, and designer jewelry, fast, safely and for the highest price. A bonus is that you can ship from your own home, which is both convenient and private.
CashforGoldUSA also buys estate and antique jewelry, watches, bracelets, earrings and loose gemstones and diamonds, too.
3 tips before you sell gold necklaces
To get the most cash for your gold necklace:
1. Research the value of your necklace
The value of your gold is based on its weight and quality — not what you assumed it is worth, or based on the retail value you paid, or what it might go for at retail today.
Your gold necklace will be valued based on the weight and purity (measured in karats) of its gold content. You can get the melt value of your gold chain with CashforGoldUSA's gold calculator, which factors in the current price of gold. It is important to note that this is the melt value, not an offer:
2. Get an appraisal of your necklace
You can get an appraisal or quote from a local jeweler, pawnbroker or cash for gold location to understand the value of your item. You can always sell to those businesses on the spot (assuming they make an offer), but you can also use their information to negotiate the best price for your necklace.
3. Don’t accept the first offer + negotiate
When it comes to selling your necklaces for cash, you can always negotiate any offer, including with online gold buyers. Here are some tips for how to negotiate jewelry prices:
- Express appreciation: Start by thanking the buyer for their offer. Being polite and respectful can create a more positive atmosphere for negotiation.
- Ask for clarification: Politely ask the buyer to explain how they arrived at their offer. This can help you understand their perspective and give you an opportunity to point out any unique or valuable aspects of your necklace.
- Mention any special features or history: Your sentimental attachment to the piece won't add value, but if your necklace has unique features, such as a rare design, special craftsmanship, or historical significance, be sure to mention them.
- Research current market prices: Knowledge of the current market price for gold can be a powerful negotiating tool. You can say, “I've done some research, and I know that the current market price for gold is [mention the price]. Can you match or come close to that?”
- Mention competitive offers: If you've received other offers or have the option to sell to multiple buyers, you can mention this. Saying something like, “I have another offer from a different buyer for [mention the offer amount], but I'd prefer to sell to you if we can work out a better deal” may encourage them to offer more.
- Be willing to walk away: Sometimes, expressing your willingness to walk away from the deal can put pressure on the buyer to make a better offer. You can say something like, “I appreciate your offer, but I was hoping for something closer to [your desired amount]. If we can't reach an agreement, I might have to explore other options.”
- Negotiate incrementally: Instead of outright rejecting the offer, you can propose a counteroffer that's slightly higher than their initial offer but still reasonable. This shows your willingness to compromise.
Remember that successful negotiation often requires a balance between being assertive and respectful. It's essential to maintain a polite and professional demeanor throughout the process to maximize your chances of getting a better offer for your gold necklace.
FAQs about selling gold necklaces
How much can you get for a gold necklace?
The value of your gold necklace depends on many factors. These include the materials used (quality of gold, silver and/or platinum), the quality of any gemstones or semi-precious stones, if it has a designer luxury hallmark, and the current market value of your necklace.
Gold and other metals are commodities, and their prices go up and down each day — as do the prices of gemstones (which are less volatile).
How much is a gold and diamond necklace worth?
The best way to determine the value of your gold necklace is through a formal appraisal at a local jeweler near you, which I recommend for items valued at $1,000 or more. Otherwise, you can get quotes from local jewelers, pawn brokers, gold buyers, or send your item to CashforGoldUSA to get a quote.
Otherwise, your necklace is likely worth the scrap value of its gold content and any gemstones or diamonds it includes.
Overall, the price of gold is very high, while the price of diamonds is low and sinking.
How much is a gold necklace worth?
The higher the karat amount in gold, the more valuable it is. Again, this depends on the factors mentioned above. A simple, thin necklace without gemstones, will typically be worth between $100 and $200 in scrap prices.
At the time of publication, these are the scrap market prices for a 5-gram gold necklace, according to CashforGoldUSA, which is a good option for lower-priced gold necklaces, silver necklaces, and smaller diamonds — whether they are loose or set in jewelry.
These are some recent gold necklace sales on CashforGold:
14k gold chain necklace sold for $1,773.45.
10k gold chain necklace sold for $430.69
Are gold necklaces worth anything?
The higher the karat amount in gold, the more valuable it is. Again, this depends on the factors mentioned above, which include:
- Type and quality of the materials used
- Quality of any gemstones, diamonds, or semi-precious stones
- If it is from a luxury brand
- Current market value of its metal content (metals and gemstones)
How much is a 14k gold necklace vs a 24k gold necklace worth?
A simple, thin necklace without gemstones, will typically be worth between $100 and $200 in scrap prices. The karat of the gold refers to the percentage of purity; the higher the number, the more valuable the gold. So, 24k gold is worth more than 18k gold, which is worth more than 14k gold.
As of , the spot gold value in the United States was trading at $ per ounce, or $ per gram.
Bottom line: What is the best way to sell a gold necklace?
The best way to sell a gold necklace is to an online gold buyer.
Based on my own personal experience and an exhaustive review of gold buyers, CashForGoldUSA is our top recommendation for selling gold necklaces and any other gold or precious metal items you own.
CashforGoldUSA has very high user reviews and ratings, plus we love that they pay within 24 hours and offer a 10% bonus if you mail your items within 7 days.
Get a free estimate on your gold necklace now >>
SOURCES
- “Wall Street analysts see virtually no downside for gold prices, retail investors maintain bullish outlook,” by Ernest Hoffman, Kitco News. November 03, 2023. https://www.kitco.com/news/2023-11-03/Wall-Street-analysts-see-virtually-no-downside-for-gold-prices-retail-investors-maintain-bullish-outlook.html
Typical places people sell old jewelry include jewelers nearby, pawn and consignment stores, cash for gold outlets, and online jewelry buyers.
You can get an appraisal or quote from a local jeweler, pawnbroker or cash for gold location to understand the value of your item. You can always sell to those businesses on the spot (assuming they make an offer). Check out your online selling options, too.
The value of your gold necklace depends on many factors. These include the materials used (quality of gold, silver and/or platinum), the quality of any gemstones or semi-precious stones, if it has a designer luxury hallmark, and the current market value of your necklace.
The higher the karat amount in gold, the more valuable it is. Again, this depends on the factors mentioned above. A simple, thin necklace without gemstones, will typically be worth between $100 and $200 in scrap prices.
