Worldwide gold prices change constantly and the cash value of your used gold jewelry is directly tied to this international market. When you decide to sell your old jewelry for cash to a local gold buyer, or through the mail if you are selling to one of the many buyers who advertise "cash for gold" on TV or the Internet, keep in mind that each buyer will offer you a different price. Some gold buyers will offer a fair cash price for yourjewelry, some will not. The only way to protect yourself in this "buyer beware" market is to understand four basic principals of buying and selling used gold jewelry.

1. The value of your gold jewelry is based on the purity, the weight and the current gold prices
2. Gold buyers in this economy do not buy gold jewelry to resell, they buy it to melt down, so there is no value in craftsmanship or artistry of the jewelry you want to sell (unless you have rare antique jewelry with proven demand from collectors)
3. The cash price a gold buyer offers you when you sell jewelry may change daily
4. If you visit multiple gold buyers on the same day, with the same jewelry, you will get different cash for offers, and they will probably vary dramatically

When you consider these four points, it is clear that the only way to get the highest cash price for gold is to shop around, preferably on the same day. This is one of the main reasons why selling gold by mail is a problem. Once you send your jewelry off to one of those companies that advertise "cash for gold" on national TV or the Internet, you'll never know if you're getting a fair and high cash price for your jewelry because you cannot compare it to other cash offers from buyers on the same day.

Local gold buyers typically pay more for gold jewelry because they do not have to finance national TV advertising budgets.

Bottom line: If you want the highest cash offer for your gold jewelry, take your time, educate yourself about the gold buying and selling business, and compare the cash offers from several reputable buyers in your local area. If you do decide to send your gold through the mail to an out-of-state buyer make sure you 1) get one or more local offers from licensed gold buyers first, and 2) be willing to play hardball and demand that the buyer return your gold if their price does not seem fair compared to the cash offers you received from local gold buyers.