Selling gold in Houston? (Sugar Land, Kerrville: buyers, prices, shops)

[SLoriginal'71]

Hello all!
I have some old gold jewelry that I am thinking about selling. This jewelry I guess would be considered scrap because I am not trying to sell it for somebody to wear. My questions are......does anybody have any recommendations for a place that buys gold? Do you have any advice so that I won't get taken advantage of when I sell it?

I am located around Sugar Land but willing to drive into town if need be.

Thank you all for sharing your experience and/or advice!

[RVD26]

There are tons of places that buy gold now.
Too many if you ask me.
Just drive around and you will see them everywhere.
They are becoming the new pawn shop/nail salon/donut shop/check-cashing store.

[mtgmike]

Know what its worth, its not hard to do the math.

14k is 58.33% gold

There are 28.35 grams in an ounce.

Gold is $1460 an ounce, or $51.50 a gram today. These guys get paid very close to scrap prices from refiners, and do it almost every day, so dont let them lie saying they might sit on it a week and need to protect themselves.

Try to get 80% of true scrap value. Try the nicest pawn shops you can find, independents and corporate. Corporate stores may offer a tad more at first, but have no, or little negotiating authority. Try to find the owner/operator of an independent pawn shop, and reason with them.

Repeat as neccessary.

[kcatheart]

Originally Posted by mtgmike

Know what its worth, its not hard to do the math.

14k is 58.33% gold

There are 28.35 grams in an ounce.

Gold is $1460 an ounce, or $51.50 a gram today. These guys get paid very close to scrap prices from refiners, and do it almost every day, so dont let them lie saying they might sit on it a week and need to protect themselves.

Try to get 80% of true scrap value. Try the nicest pawn shops you can find, independents and corporate. Corporate stores may offer a tad more at first, but have no, or little negotiating authority. Try to find the owner/operator of an independent pawn shop, and reason with them.

Repeat as neccessary.

Good luck trying to find someone to pay you $51/gram or even 80% of that for your scrap gold.

[mtgmike]

Originally Posted by kcatheart

Good luck trying to find someone to pay you $51/gram or even 80% of that for your scrap gold.

Perhaps you dont understand, $51 a gram is the current scrap value.


It is quite unlikely that the average 22 year old clerk at Houston Gold and Silver buyers would pay 80% of scrap, because they dont have the authority.

I have personally witnessed a dealer in Kerrville Texas pay more than 80% of scrap for a decent quantity of silver on a day he was sending metals to his refiner. Of course his first offer was for about 40%.


...and please dont come back with something about volume. These guys have buckets of 10k, 14k, etc. Unless they are a pawn shop, and have a hold period, this stuff gets tossed in a big bucket 5 mins after you leave.

[Poltracker]

Also, do not let them take it out of your sight. Make them weigh it in front of you after checking with a standard weight.

[SLoriginal'71]

Thank you to everyone for the good advice and information! Now I at least will feel a little more confident and knowledgeable when I sell my old gold jewelry.

[supaflyz]

Just keep it. The value of gold is going up.

[CRBoyd91]

I agree with keeping it. One day you may be able to buy the whole US Economy for pennies on the pound.

[kreeyax]

Is it time to sell yet? $1583/ounce!! Which stores offer 80% of market value? I was offered 54% yesterday but felt it was too low, so I walked.