Inherited Gold or Gold Jewelry? Here’s What to Do Next

If you’ve recently received an inheritance, you likely have no shortage of decisions to make. Along with all the stress, grief, and uncertainty often comes a whole list of things to deal with, like deciding what to do with the possessions and assets you’ve inherited. This guide will cover a common question – what should I do with inherited gold?

Here’s what to do if you inherit gold or gold jewelry.

1. Consider the Sentimental Value

First off, take a look at all the items you have inherited and see if any items carry a specific sentimental value. You may find that many items speak to you, or perhaps just a few. Many people find that holding on to at least one or two select items from a loved one who has passed away is beneficial – and jewelry (especially something that you might wear) might be a good choice.

On the other hand, you may find that these items don’t hold a specific sentimental value to you. The point here is to look at all the items to carefully consider what you want to keep, and what you may wish to sell or give away.

When it comes to gold, the decision may be complicated by the value of the items. You may find that an item is worth quite a bit of money – which may influence whether or not you wish to keep it.

2. Determine the Financial Value

Gold is worth quite a bit (currently more than $4,000 per troy ounce, for pure gold). Of course, gold jewelry isn’t pure gold, and some might not even be real gold at all. For this reason, it’s a good idea to get the items evaluated by an expert.

The best places to sell gold or get items evaluated at are usually coin shops or jewelers who specifically buy gold items. Call ahead to explain your situation and see if they are willing to evaluate your items (which will often include an offer to buy them, should you choose to sell). It’s recommended to avoid pawn shops, as they tend to pay pennies on the dollar (see this pawn shops vs. coin shops comparison for details).

A reputable gold buyer will examine your items individually, checking them for authenticity, purity, condition, and other factors. From there, they will provide an offer to buy the items, which directly tells you what they are worth to that buyer. If you’re unsure, you can also get a second opinion. And keep in mind that you don’t necessarily need to sell everything at once – but getting your whole inherited gold collection evaluated makes sense. You can even take notes and write down approximate values for each item.

If you’re in the Seattle area, come in to Bellevue Rare Coins to meet our friendly gold buyers. With locations in Bellevue, Issaquah, Lynnwood and Tacoma, we make it easy to sell valuables in the Pacific Northwest.

3. Decide What to Keep and What to Sell

Now you can make better decisions, armed with more information about your items. You’ve determined which inherited items you want to keep, and which inherited gold jewelry might be worth selling. And if you’ve gone to a trustworthy gold buyer, you now have a good idea of what each item is worth.

Selling inherited gold can be a simple process with the right buyer. It’s best to work with a licensed buyer with a physical storefront. Avoid private buyers to stay safe and avoid scams and robberies.

In many cases, you can combine steps 2 and 3. Visit a reputable buyer, get all your items evaluated, and then take a moment to decide what to keep and what inherited gold to sell. Then, you can generally walk out same-day with a check in hand, and you’re done!

Looking to sell inherited gold in the greater Seattle area? Bellevue Rare Coins has been trusted since 1979. We’ve worked with hundreds of thousands of our PNW neighbors to buy all types of valuables, inheritances, collections and more. We offer a no-stress selling experience, friendly service, and four convenient locations (Tacoma, Bellevue, Lynnwood, Issaquah). Stop by today or make an appointment online.