Saturday, March 22, 2008

Interested in cashing in on your gold jewelry? Paul Pastor, owner of Chas Schwartz & Son, offers these tips for getting the best deal.

Pick a reputable shop. Gold buyers must be licensed by local or state consumer affairs departments, which ensure that the shop's scales are accurate.

Bring it in as-is, along with any documentation that might have come with the piece.

Prices can change daily. Expect to get about 80 percent of the scrap-value retail of the piece. On Thursday, 18-carat gold was going for about $17 per gram.

Jewelry that can be resold fetches higher prices than pieces that must be melted down and re-crafted.