You might want to google midwest refineries in considering selling gold or silver. They pay 95% of the spot price of the gold. For instance your 40 gm gold bracelet, if 14 karat metal, has a gold value of 1325 today. If you got 95% of that value it would have been about 1260. I don't begrudge the local merchants their profit margin but you can sell directly to the refiner. You do have to pay the cost of shipping and I'd suggest insuring the package. A great website for doing the calculation is
http://www.silverrecyclers.com/Calcu...alculator.aspx for gold and
http://www.silverrecyclers.com/Calcu...alculator.aspx for silver
I have no connection whatsoever with the business, just a satisfied customer.