What is My Gold Wedding Ring Worth?


What is My Gold Wedding Ring Worth?

January 4, 2012 377 view(s)

If martial bliss did not work out as planned, you may hope to make a decent profit on your wedding ring. While you may know how much your ring was worth when it was purchased, it is important to realize that the value likely changed. Because the price of gold fluctuates on a daily basis, like oil prices, the value of your ring also changes. Your first step should be to figure out your wedding band's current worth.

The value of your gold wedding band will depend on a variety of factors. Some people think that yellow gold is always more valuable than white, rose or other gold color variations, but this is not always the case. The value of your ring is much more dependent on the weight and the karat. The heavier the ring and the higher the karats, the more valuable your ring will be. A ring is worth more with higher karats because this equates to a higher percentage of pure gold.

You may want to take different steps to sell your ring depending on how it was manufactured. If it was bought recently at a commercial jewelry store, it will be easier to figure out its value, as opposed to if it is unique. A ring that was specially designed, custom ordered, contains unique stones or is an antique piece may be harder to appraise. You should consider taking it to be professionally appraised before agreeing to sell it to any person or vendor.

After learning the basic value of the ring, think about selling on a day when gold prices are high. If you are going to a local pawn shop or gold dealer, call around and see if they will give you an estimate over the phone. Shop around before you agree to sell, and be prepared to get less than your ring is actually worth.