If you are trying to sell a gold chain, you may first want to identify the type of chain it is. Different chains can have different values since some may be more popular and desirable than others. Some buyers may decide to melt the chain down and just take the gold, while others may chose to resell the chain depending on the type. It’s best to educate yourself on the chain type before going to a business to sell it.
Cuban chains are very popular, especially amongst men, due to their large heavy links. They come in a variety of different sizes and work well with pendants. Smaller versions are popular with women as well, making this type of chain desirable.
Rope chains consist of small links in a twist pattern to resemble a genuine “rope.” They come in smaller sizes that work great with pendants and large sizes that tend to attract a lot of attention.
Snake chains are made up of closely fitting rings rather than visible links. The way the rings fit together resembles a snake’s skin. These chains are delicate but work well with pendants and are popular with women.
The Figaro chain was originated in Italy and is made up of flattened links which vary in size. It’s popular with both men and women and it usually has 2 or 3 short links attached to 1 larger link. This design repeats throughout the chain.
Please note that there are many more types of gold chains, however this is just a sample of the varying types and sizes available. Your chains value will also be predicated on how many Karats it is and its overall weight.
24 Karats is considered pure gold, while an 18 Karat chain is considered 18 parts gold and 6 parts some other metal. The higher the Karat value of your chain, the more it will be worth. Also, the size and thickness of your chain will obviously affect its weight, which can dramatically increase or decrease your chains value. Remember, gold is weighed in a measurement called “pennyweights” which is equivalent to one twentieth of a troy ounce. A troy ounce is equal to 31.1 grams; slightly higher then what the U.S. considers a regular ounce, which weighs 28 grams.
If your gold chain has any precious stones inlayed, it will also affect the chains value. Things like rubies, emeralds and diamonds can increase the chains value depending on the going rate for those particular gem stones.
In conclusion, you may want to call around to different businesses to get an idea of whether or not your chains design is one that they consider desirable or not. Jewelers may be willing to pay a slight premium for a particular type of chain if they know they can flip it easily and it sells well. If not, be prepared to be quoted standard gold prices for your chain. Even if the item is melted down, it still can contain a lot of value, especially if it’s a high Karat composition.