Cologne – If you want to convert valuable jewelry, coins or dental gold into face value, you should act with caution. Because in the industry, there are not only reputable dealers.

Picture: Woman is waving money 

Grandma’s old jewelry box often has a few surprises in store: gold necklaces, matching earrings or brooches. And if the taste of the new owner is not 100 percent met, many people decide to make the precious things to money. This can really pay off financially. However, it should be noted that the price of gold fluctuates widely.

Beware of hawkers

“Accordingly, one can hardly say whether – despite the still high price – a good time is for sale”, explains Christian Urban from the consumer center North Rhine-Westphalia. “Before a sale, consumers should definitely inform themselves about the reliability and seriousness of the buyer,” adds Joachim Dünkelmann, Managing Director of the Federal Association of jewelers, jewelery and watch specialist stores in Cologne.

Beware of hawkers – including crooks. “Scammers like to visit their victims at home, for example, disguised as antique dealers,” reports Urban. They pretend to be interested in furs, porcelain and also old gold. If you then have a valuable piece of jewelry in your hands, you want to take it with you “for the purpose of testing purity”. Their commitment to sign up the next day, they do not stop: The swindlers and the gold disappeared without a trace.

If in doubt, get several offers

Who wants to make jewelry, gold teeth or silverware money, is in good hands with established dealers, goldsmiths or jewelers. “If in doubt, consumers should seek quotes from several sites and price comparisons for one and the same piece,” advises Thomas Weiss, Head of Sales and Precious Metals Services at the General Gold and Silver Disposition Panel (Agosi) in Pforzheim.

As a rule, worn jewelry is broken down into its components in the slaughterhouse. Gold and silver are melted down again. Before there is money for the seller. At the dealer or jeweler of trust, the piece to be sold comes on the scales. In the presence of the owner, of course. Then it’s about checking the fineness of the gold. “The fine metal content of the alloy of the piece of jewelry is crucial to determine the value,” explains Weiss. Common alloys in gold are about 8 carats. The hallmark here is 333, which corresponds to a fine gold content of 33.3 percent; 14 carats (hallmark 585) correspond to a fine gold content of 58.5 percent. At 18 carats, the hallmark is 750 – a fine gold content of 75 percent. “The hallmark is often found as a small imprint on the pieces of jewelry,” says Weiss.

Payout per gram of gold

The seller gets money per gram of gold. In addition, if necessary, a surcharge for incorporated gems. “It should be clarified whether the very valuable platinum and palladium shares in dental gold are also tempered,” recommends consumer protector Urban. When examining the part to be sold, fees are due. “Most jewelers often offer the purchase of old gold against credit when buying new jewelery,” explains Dünkelmann. In his view, this form of trade-in is often beneficial to the consumer. Those who would rather have cash for their piece must be prepared to pay 30 percent of the value as a fee to the dealer or jeweler. The costs are incurred, among other things, for the assessment and weighing, the value transfer to the Scheideanstalt and the smelting.

It is possible to sell old gold at a Scheideanstalt. “But this is only worthwhile for larger contingents, since the costs for melt and analysis are deducted regardless of the quantity,” says Weiss. Gold can also be sold over the Internet: Dealers offer to have old gold sent by post – afterwards it is checked, weighed and paid. “When selling over the Internet old gold owners should be particularly critical and to inform themselves about the provider,” Urban advises. In addition, it should be checked whether the shipment of the gold is insured.

Craftsmanship or emotional values ​​are not remunerated

It also has to be clarified on which day the gold price is calculated – after all, the gold price can fluctuate considerably in the short time between the sending of the gold and the payday. “It is also important that the customer can reject the price offer, if it seems too low,” says Urban. No matter how the sale is done: “Suppliers should be aware that they usually receive the pure gold price for their piece,” explains Dünkelmann. The craftsmanship or even the emotional value – that is not remunerated.