It's actually pretty common to have a lot of unused jewelry in your possession. You may have received bracelets or necklaces as gifts and just never worn them. You can turn this unused jewelry into a profit by selling it for cash. If you know what you're doing, then this selling process will be easy to manage. Insure Expensive Jewelry When Shipping If you plan on selling gold jewelry that's expensive and it's being sent through the mail to a buyer, then there are potential risks to this tactic.