Cashing In On The Gold Rush - $1,400 an Ounce

If you haven’t already taken advantage of the high price of gold, follow these tips to get the most money for your items.

• Learn the lingo and shop around. Pure gold is measured by the troy ounce (just over 31 grams). Dealers often quote price per pennyweight (20 pennyweights equal a troy ounce), which sounds like they are paying more. Visit at least three legitimate gold buyers who are members of the Better Business Bureau, and don’t accept the first offer.

• Stay clear of mail-in companies, which pay significantly less. If you use one, select one that offers free insured shipping you can track online. Remove jewels and photograph the item before you send it in.

• If the piece is an antique or has fine craftsmanship, have it appraised and sell it as jewelry.