I have been hearing a lot of horror stories regarding gold selling experiences people are having with companies and/or individuals wanting to buy their old or unwanted gold and silver items.  With the price of gold reaching one high after another it is only natural for many different types to “jump on the bandwagon” of gold buying.  Various types of “we buy your gold” companies and even barbershops are ready to buy your gold by mail, in hotel rooms, on the barber’s chair or even in front of your favorite coffee shop.  Incredible offers are advertised daily such as  SELL US YOUR GOLD AND WE’LL GIVE YOU AN ADDITIONAL $25 FOR EVERY $100 YOU GIVE US (they’re giving up 25% of their profit which is already more than a jeweler makes on the entire transaction), one of  my favorites.

The buying experts are your local jeweler.  This is where to go to sell receiving an honest evaluation and the best price provided by a trained professional, properly licensed by the city to buy.  Going to someone other than a professional jeweler to sell gold jewelry, diamonds, gemstones, watches and coins is akin to going to a car dealer for open heart surgery.  No basis in reality.

Going to a jewelry shop to sell your unwanted or broken items should be similar to Our Gold Testing Process:

1. We sort your gold according the gold karat content.   Content is determined by using one of our gold testers which test by the use of acids. 

2. Determing total weight per karat group (10K, 14K, 18K).

3. Check the quality and condition of any diamonds or gemstones contained within the jewelry or given to us loose.

4. Determine the price for any luxury watches.

5. Calculate the price for each karat group based on the current New York spot gold rate.  NOTE: Gold coins are paid based on 24K price unless they are sealed with a certified MS designation.  Calculate the value for each diamond and gemstone.  Review all of the items to see if any can be resold in our estate section (after a refurbishing).  Combine the totals for all of the gold, diamonds, gemstones, watches and any items for the estate case. 

6. Write you a check for the total amount.

The entire process is done in front of you.  Nothing’s going into a back room, for whatever reason.  All in the open.

Please don’t be fooled by the fly by night gold buying companies popping up all over the country.  Go to a jeweler.