Thinking of selling your gold necklace?
The reason for selling may be financial — you need money, quick! to pay the rent, mortgage, fix the car, pay for daycare, or any other good reason that is none of anyone’s business.
Reasons for selling may also be emotional.
Whether you choose to admit it or not, jewelry often carries a strong emotional bond with it – for better or for worse.
A piece of jewelry that you know has value, but you no longer like — or perhaps it was an heirloom or antique that you don’t mind parting with.
Whatever the reason, there is a very good chance that extra cash will serve you better than stale memories.
If you want the best place to sell your gold necklace for cash, we recommend CashforGoldUSA (more on why later).
How to sell a gold necklace
1. Check jewelry stamps 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 $1,700 per troy ounce:
| Stamp | Purity | % gold | Spot value |
| 999 | 24 karat | 99.9% | $1,635.40 |
| 990 | 22 karat | 99% | $1,482.00 |
| 750 | 18 karat | 75% | $1,220.60 |
| 585 | 14 karat | 58.3% | $941.80 |
| 375 | 9 karat | 37.5% | $680.00 |
2. Check today’s gold price
Gold prices go up and down, and after reaching an all-time high in March of this year, have been on a steady decline. Rising interest rates mean that bond yields and a strong dollar make gold investments less attractive. The lower demand means lower gold prices globally. That means your gold necklace is less today than it was last month.
As of , the spot gold value in the United States was at $ per ounce, or $ per gram, down from the record high of $2,074.60 per ounce on March 8, 2022.
Learn more about what affects the price of gold in this post.
3. 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 a gold necklace
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.
Read the details of shopping around for the highest price in this post about selling gold.
CashforGoldUSA also buys estate and antique jewelry, watches, bracelets, earrings and loose gemstones and diamonds, too.
3 tips before you sell your gold chain
To get the best price for your gold necklace:
1. Know what you have
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 chain will be valued based on the weight and purity (measured in karats) of its gold content. You can estimate the 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 just an estimate, not a final offer.
2. Get an appraisal
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). More here on jewelry appraisals.
Check out your online selling options; our top recommendation is listed below. CashforGoldUSA offers free returns if you choose not to sell with them after sending in your necklace or other jewelry.
3. Don’t accept the first offer + negotiate
To get the best price for your gold 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), or use those appraisals to negotiate a good deal elsewhere.
- You can always negotiate any offer, including with online gold buyers.
How much can you get for a gold necklace? FAQs about selling gold necklaces
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.
You can get a quick gold estimate with CashforGoldUSA’s online gold calculator.
Gold prices per ounce have remained strong in recent months, with some wondering if they'd again reach the record highs set in 2020. In other words: It’s a great time to sell gold jewelry, gold scrap and gold coins.
CashforGoldUSA focuses on gold jewelry and coins, as well as diamonds. The family-owned company has been in business in Massachusetts for more than 30 years, and a Fox Business News report found that they pay three-times their competitors for gold jewelry mailed in. CashforGoldUSA pays within 24 hours, has a BBB rating of A+, free door-to-door FedEx shipping, and guaranteed highest price.
They also pay a 10% bonus if you send in your item within 7 days. Learn more about CashforGoldUSA for selling your necklace >>
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.
Here are some recent CahsforGoldUSA necklace sales:
14k gold necklace is worth: $461.10:
14k gold necklace chain worth: $532.03:
10k gold necklace is worth: $126.67:
Bottom line: Where is the best place to sell a gold necklace?
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 >>
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.
