Last updated Jan. 15, 2020
Ever considered selling your wedding ring online? Maybe you're divorced, have a broken engagement — or inherited an antique or vintage family heirloom or estate piece that is collecting dust. (Here are some more details on selling heirloom and estate jewelry.)
Whether you choose to admit it or not, jewelry often carries a strong emotional bond with it – and selling your wedding jewelry is the most loaded of all.
Whatever the reason, there is a very good chance that extra cash will serve you better than stale memories.
In other words: It’s time to sell your jewelry.
Luckily, there are quality options for selling fine jewelry online – and that includes gold, platinum, gemstone, diamond, engagement ring, and designer jewelry.
There are reputable, trustworthy online services that will not only help you get the highest price on the market, but will also make it very easy for you.
After all, unless you are a jeweler, it can be hard to know whether you are getting the best price for your jewelry.
That is why the industry can have a not-so-good reputation.
Luckily, there are quality options for selling fine jewelry online – and that includes gold, platinum, gemstone, diamond, engagement and bridal, and designer jewelry. And my best recommendation is to sell jewelry using Worthy.
Here is what you need to know to see your wedding ring:
- Why you should sell your wedding ring
- How much is a wedding ring worth?
- Where to sell your gold wedding ring
- How to sell your wedding ring online with Worthy
- How to sell your ring online with CashforGoldUSA
- How do you know that the price is fair?
Why you should sell your wedding ring
No matter how pretty, or how sentimental, or how valuable, jewelry sitting in a jewelry box, back of the closet, or in a safe is wasted.
Plus, no one else can enjoy it, either — except maybe the dust mites that call that forgotten corner of your jewelry box home. If you’re not feeling it, why keep it around?
Plus, if the necklace carries emotional baggage, selling it is a good way to swap bad vibes for a little something extra in the bank.
Which, of course, is always, always GOOD vibes!
Maybe you have mixed feelings about parting ways with the ring — after all, it was likely part of a relationship that at one time full of love and passion. But just because that ring no longer fits into your life, does not mean it is worthless. While I understand why some women throw their rings off a mountain summit they just climbed, or into the ocean off the side of a yacht they are sailing with their new Portuguese lover, consider selling that rock for some cold, hard cash.
Are there other pieces that just don’t make the cut?
Hell, as long as you are selling your wedding ring,
Should I sell my wedding or engagement ring before or after the divorce?
This is a common question, and the answer as to whether you should sell your wedding ring before the divorce is final (in the separations stage) or after, has legal and emotional components.
Typically, engagement rings are considered a gift, and legally, the recipient of the gift has legal rights to that gift. In some states, the rings are considered marital property, the value of which is to be divided equitably. If the ring is a family heirloom and there is no premarital agreement as to what happens to the bridal jewelry in the event of a divorce, then things can get messy.
In short: Ask your divorce lawyer what rights, if any, you have to your wedding ring or engagement jewelry in the divorce.
If the rings are indeed yours to keep, then you have to decide whether or not to keep or sell during or after the divorce. There are several reasons to keep the jewelry until after the divorce is final:
- It's not over until it's over. You could always reconcile — right?
- It's best to do what you can to keep things calm during the divorce proceedings, and if the sale of the wedding ring will escalate any tension, just hold off a few months.
There are many good reasons to sell any wedding or engagement rings ASAP, including before the divorce is finalized:
- You likely need the money. More money in the bank will help you make good decisions, and stay away from debt, desperation and bankruptcy.
- Moving on is always a good thing. Sooner the better!
How much is a wedding ring worth?
The value of your ring depends on many factors, of course: Is it a diamond? If yes, what is the size and quality? Is it made of other precious stones like ruby, sapphire, emerald? Gold, platinum or white gold? Is it a name brand like Tiffany or Cartier?
If your ring has precious stones, like a diamond, you can get a 100% free estimate of value at Worthy.com. Worthy is an excellent online diamond and jewelry marketplace that will help you safely sell your wedding ring and other jewelry quickly, for cash, for the highest price.
How much can I get for my wedding ring?
If you expect to receive at least $1,200 for your jewelry, Worthy is an excellent, trustworthy site to sell your jewelry online.
You can read more about my experience selling my wedding ring here. The benefits of selling with Worthy include:
- Insured up to $100,000
- 100% free FedEx shipment, and you can track your valuable every step of the way — including inside the Worthy offices
- You get a free GIA or IGI report — yours to keep regardless of whether you ultimately sell or not
- You set the minimum price
- Worthy will professionally photograph and post your item, and hundreds of vetted professional buyers bid on it publicly — driving up the value to the highest market price
- Get paid immediately via PayPal or bank transfer
- A rating with the Better Business Bureau
- Nationally recognized, with articles in the New York Times, MarketWatch, Forbes and Inc.
Here are a few recent wedding ring auctions at Worthy.com:
$1,489: 14k gold custom bridal set ring with a 1-carat center stone, and 12 surrounding stones, for a total carat weight of 1.89 carats.
$8,711: 14k gold made wedding ring consisting of 5 princess shape, natural diamonds, each weighing 11.1 – 11.2 carats (cttw).
How to sell gold
If your ring is only gold or another metal, or expect will fetch less than $1,200, there are other reputable online gold, diamond and jewelry buyers that are also safe and easy to work with.
I have personal experience selling a gold and diamond ring that was worth less than $1,200 with CashforGoldUSA, which has a B+ Better Business Bureau rating, and chosen by a Fox Business News investigation as paying out 3X its competitors.
How much is a gold wedding ring worth?
The higher the karat amount, the more valuable it is to sell gold jewelry. Again, this depends on the factors mentioned above. A simple, thin chain necklace without gemstones, will typically be worth between $100 and $200 in scrap prices. Meanwhile, Worthy sells many necklaces for thousands of dollars. Examples include a 35-gram 14k gold and diamond necklace for $1,858, and a 15-gram 18k gold and diamond necklace for $4,050.
10k gold wedding ring is worth: $103.59
14k gold wedding ring is worth: $145.32
18k gold wedding ring is worth: $186.31
Gold frequently asked question
Gold has been used for thousands of years, and remains one of the most common investments, and popular jewelry elements today. However, this ancient commodity still remains mysterious. Here are a few common questions about gold.
How to tell if gold is real
Check for a stamp. A real gold item will have a purity marking on the back or inside. This stamp is typically either a carat number, such as 18K, or 12K, in the shape of a rectangle with the corners cut off, and with a number inside. Here is the meaning of those numbers:
999 = 24 karat, 99.9% gold
990 = 22 karat, 99% gold
916 = 22 karat, 91.6% gold
750 = 18 karat, 75% gold
585 = 14 karat, 58.5% gold
375 = 9 carat, 37.5% gold
How to tell if gold is real with a lighter
Hold your gold jewelry or coin to the steady flame of a lighter or oven (but not a very high heat, like a blow torch). Real gold will get bright hot after a while, but will not darken. Fake gold will darken or otherwise change color when exposed to fire. Also, if the piece is gold-plated (covered with gold, but made of other metals inside), the thin gold plating will melt, revealing the inner metal.
Test your gold with a magnet
Gold is not magnetic. Using an extra-strong magnet (you can get one from the hardware store), see if your gold jewelry is attracted to the magnet. One side note, sometimes a real-gold bracelet or necklace will have a clasp that is not made of real gold, and will be drawn to the magnet, while the rest of the item will not.
Real gold will not float, and will not rust. Drop your gold into a glass of water. If it floats, it's fake.
Real gold jewelry will not turn your skin black or green.
How much is gold worth per ounce?
As of Jan. 15, 2020, 1 ounce of 24k gold was worth $1,543.55. A 1-ounce gold bar is about the size of military dog tag, and 24mm (0.95 inches) x 42mm (1.65 inches x 2mm (0.08 inches). Check the latest price of gold with CashforGoldUSA's gold calculator.
Recent gold prices, as of Jan. 15, 2020:
|10K Troy ounce of gold is worth $644.31|
|14K Troy ounce of gold is worth $903.88|
|18K Troy ounce of gold is worth $1,158.82|
|24k Troy ounce of gold is worth $1,543.55|
How much is a gram of gold worth?
As of Jan. 15, 2020, a gram of pure 24K gold was worth $49.63. To visualize, a 1-gram gold bar is 8mm (0.32 inches)x 15mm (0.59 inches) x 0.4mm (0.02 inches) — or smaller than a thumbtack.
|10k gram of gold was worth $20.72|
|14k gram of gold was worth $29.06|
|18k gram of gold was worth $37.26|
|24K gold was worth $49.63|
What is gold plated?
Gold plating involves affixing a thin layer of gold onto the surface of another metal copper or silver, by a chemical or electrochemical plating process.null
What is gold filled?
Gold-filled jewelry is constructed in two or three layers: The core metal is’ brass, and a gold alloy is then bonded to one or both surfaces of the core with heat and pressure. Unlike plated (a.k.a. “electroplated” or “dipped”), gold-filled items are legally required to contain 5% gold by weight.
What is gold vermeil?
Gold Vermeil is sterling silver that has been gold-plated, typically with 22K to 24K gold.
What is white gold?
White gold has a silver, or white metal look, and is an alloy of gold with nickel, platinum, or another metal. It can look like platinum.
Where to sell your gold wedding ring
Simple jewelry, including a solid-metal wedding ring, or one with small stones, is best sold to a local jeweler near you, gold buyer near you, pawn shop, gold and silver exchange, or a reputable online buyer like CashforGoldUSA.
An online option is great for many reasons:
- Convenient, as you don't have to drive around town looking for the best price. Reputable online companies send you an overnight mailer, so you don't have to leave home.
- Transparent, since third-party companies like the Better Business Bureau vet these companies, and you can scan many — often hundreds — of reviews and ratings.
- Competitive, since the market rate is set by national competition — not a single quote from one local jeweler near you.
Here's a video of the process for selling gold using CashforGoldUSA.com:
If you believe your ring is worth at least $1,200, here's how to sell your wedding ring online with Worthy:
- Go to Worthy.com to va
lueyour wedding ring.
- Enter your name and email, along with basic information (color, carat weight, clarity, etc.) about your jewelry, including size and grade of your jewelry or stone.
- Receive an estimated market value for your piece right then and there. This process takes about 2 minutes.
- A very nice customer service representative calls to answer all your questions and tells you what will happen next.
- Ship your ring. If you think the price quoted is fair, Worthy will send a FedEx delivery person to your house the next business day (or sometimes the same day!), in which you send the jewelry, diamond or watch to them — Worthy pays for all shipping and insures the item for up to $1 million (yes, really!).
- Agree on a “reserve price,” or the lowest price you are willing to accept.
- Your item is auctioned. Worthy will put your jewelry in front of at least 100 potential buyers worldwide, who can then bid on your item.
- Receive an offer within 7 days of Worthy receiving your item.
paid. After you confirm the sale, you’ll receive payment within 24 hours, including through PayPal or your bank account.
I even filmed a video about my own experience selling your wedding ring on Worthy:
How to sell your ring online with CashforGoldUSA:
I have sold jewelry with both companies (and make a commission if you do, too). Here is my experience with CashforGoldUSA:
- I plugged in my name and address on their website. Chose whether you prefer a USPS Mailer, or FedEx Label.
- A few days later I received a SAFEPAK mailer, which stated my rings were insured up to $1,000.
- I stuck the modest gold and diamond ring in it, and dropped it in the mailbox.
- Two weeks later got a check (they also give you a tracking number to track it online).
I was pleasantly surprised by how easy and professional the process was.
The 12-carat gold ring with a couple of small diamonds fetched a $159 check.
CashforGoldUSA frequently asked questions:
What does CashforGoldUSA accept?
CashforGold and its sister sites accept jewelry and other materials made of gold, silver or platinum. That includes ALL KARATS of clasps, coins, gold or silver dental scrap, earrings, anklets, bracelets, brooches, chains, charms, gold solder, ingots, links, necklaces, nuggets, pendants, pins, rings, shot, watches & bands, gold and platinum wire Karats.
CashforGoldUSA accepts 8k, 9k, 10k, 14k, 15k, 18k, 22k, 24k.
The company welcomes broken jewelry and other items.
Can I get my jewelry or other gold back if the check is too low?
Does CashforGoldUSA buy dental scrap?
Yes. CJ Environmental has a website, CashforDentalScrap.com, where you can sell dental scrap. CashforGoldUSA will buy gold or silver crowns, bridges, PFM’s, PFG’s, inlays, and caps — with or without the bone or porcelain. All of the material is approved for shipping by OSHA, DHS and the EPA.
*Note, CashforGoldUSA has nothing to do with the scandal- and lawsuit-embroiled Cash4Gold.
How do you know that the price is fair?
Worthy works with the Gemological Institute of America, which specializes in analyzing and pricing fine jewelry — especially pieces with diamonds. Every item sold through the Worthy jewelry auction receives a free GIA or IGI report. There is no more trusted way to verify the value of a piece of fine jewelry than one of these reports.
If you choose to sell through CashforGoldUSA or CashforDiamonds, use an online gold calculator to estimate your item's value. You can also get an appraisal from a jeweler, gold buyer or pawn shop near you. If you are not happy with the check you receive, you can send it back and get your item returned.
Wealthysinglemommy.com founder Emma Johnson is an award-winning business journalist, activist and author. A former Associated Press reporter and MSN Money columnist, Emma has appeared on CNBC, New York Times, Wall Street Journal, NPR, TIME, The Doctors, MONEY, O, The Oprah Magazine. Winner of Parents magazine’s “Best of the Web” and a New York Observer “Most Eligible New Yorker,” her #1 bestseller, The Kickass Single Mom (Penguin), was a New York Post Must Read. A popular speaker, Emma presented at the United Nations Summit for Gender Equality. Emma's Top Single Mom Resources.