WE BUY GOLD. WE BUY A LOT OF GOLD!
We have purchased a lot of gold in our time. Let’s face it, gold is at an all time high and people are coming out of the woodwork to buy your gold. From internet mail-in places, to the local gas station with a sign in the window, people are capitalizing on the gold rush. A lot of them at your expense!
So why should you sell your gold to us? Simple, because we pay more, and we are honest about the weight, the karat, and the value.
What does all that mean? Well, when you ship your gold away to some “out of state” company that advertises on the internet or TV you lose all of your bargaining power. They have your stuff, and you are now at the mercy of them. How do you know they are giving you the best price? What happens if you do not like their offer? How much time does the whole process take? To start with, just consider how much money it costs to buy an ad on television. That should give you some kind of idea how much money they are making. They will tell you they do a tremendous volume and that is how they can afford it. And the truth is they do a tremendous volume. But they are not giving you the best price. In fact, they are not giving you anywhere near the best price. If you do not like their offer the first thing they will do is offer you a little more, and maybe a little more...... And that is only for the people who have the wherewithal to negotiate with them. If they were so honest why didn’t they just give you their best offer up front? If all of their efforts fail to convince you, generally you have to pay to get your items shipped back to you. At this point how much time have you wasted?
Home parties and fly by night operations generally prey upon the unsuspecting victims lack of knowledge about gold and precious metals. Not to mention, one of them plies you with drinks to loosen you up a little bit. Worse, most of them are illegal. To buy jewelry in the state of California you need to have a second hand dealers license, you need to report the items you buy to law enforcement, and you have to hold the items for 30 days to make sure they are not stolen. How many gold parties are operating within the law? And people somehow still have an antiquated perception that pawnshops are dealing in stolen items and ripping people off. Nothing could be further from the truth. We are heavily regulated by state and federal laws.
The first thing you need to understand is that gold is karated. Everybody has heard of 10K gold, 14K gold and so forth. But what does it mean? It means that the actual gold content in any piece of jewelry is different. The ring or necklace you have on is gold. But how much of it is gold and how much is some other alloy?
10K gold should have 41 % gold and the rest alloy.
14K gold should have 58 % gold and the rest alloy.
18K gold should have 75 % gold and the rest alloy.
21-22K should be 90% gold and the rest alloy.
24K gold is pure gold.
I say “should” because not all manufacturers are as honest and reliable as others. Manufacturers can save tons of money by under karating. Some countries are more stringent than others in regards to making sure companies do not under karat their goods.
A lot of people see the price of gold and they say well gold is at $1000 how much is my ring worth? Remember, the price of gold is for pure gold. So the first thing you have to do is to figure out how much gold is actually in your piece of jewelry. Then and only then can you begin to figure out how much it is worth.
Once you have determined the karat (content) you can start to calculate the value. This part gets a little tricky, and this is where most of the fly by night and shady people really take advantage of uninformed customers.
Gold is weighed in Troy ounces. There are two common units of measurement for troy ounces. One is the gram (gr), the other is the pennyweight (dwt).
There are 31.1 gr in a troy ounce.
There are 20 dwt in a troy ounce.
As you can see there are about 1.55 grams in a pennyweight. Some people will advertise a dwt price that they pay because it looks like they are paying 1 ½ times more than their competition. The more unscrupulous people will advertise a gram price and pay you in dwt. Thereby reducing the amount they pay you by 1 ½ times. That is if their scales are even accurate to begin with. Our scales are tested and have a permit from the department of weights and measures.
The best way of course is to go to a licensed business and just get an offer on all of your items. Then, you can get other offers and compare the total price. You don’t have to worry about the per gram and karat stuff. But a lot of people like to save time and shop by phone for price per gram. That is fine, just make sure you are comparing apples to apples when you do. We do not offer prices over the phone. A lot of people will tell you a high price just to get you in the door and then try and figure a way to confuse you or pay less. We take our business seriously, if you want an offer from us just bring the items down and we will make you an offer based on careful appraisal of the items. We are not going to give you some BS quote over the phone just to get you in the door.
Thank you and good luck. We hope to be of service to you.