Any advice on selling Gold in SA? (Blanco, Bandera: buying, calculator)

[SAAggiemom]

Where to sell? etc. Thanks for any suggestions you have.

[TexasRedneck]

Call around local jewelers and even pawn shops - ask for a current quote. Pick the top 3 closest to one another, then go to the best offer first. If they play games once you're there, then go on to the next one.

[mamatotex97]

Gold Unlimited off 410. Unloaded some old stuff that was sitting in a drawer and walked away very happy

[soontobetexan]

First, figure out exactly what you have. Determine what's 14k, 18k or higher.

Then, weigh each variety on a jeweler's scale -- they are inexpensive and worth it. Get on Google and search for "gold calculator," enter the values and determine what the actual market price of your gold is today.

Then, shop around several places. Expect to find a wide variety of figures thrown at you ... some places will offer you only 35 percent of the real value. 50-60 is normal to encounter. If you can find someone willing to give you 80 percent of the value, you are getting a reasonably good deal.

I did a lot of homework on this, and had quite a lot of 14k gold to work with. For me, it was worth it to go to a certain place in New York City, where I got 90 percent. It would be out of bounds here for me to tell you where, but you can Google and find a comparison done by a popular network news show where this place was mentioned. I was skeptical and went in person, and they were legit.

You can convert your scale weight (in grams, probably) to "pennyweights" and that's the value the gold traders use. You should be able to ask any of these places what they are paying per pennyweight. Last week, my answers ranged from $23 to $48 for 14k. Guess where I went?

Bottom line ... if you walk into the first place you see and hand it over, you might feel happy when you get the cash but you are probably not getting anywhere near as much as you could have if you put the legwork in.

[713 to 210]

I don't remember the name but I went to a store at the NW corner of 410 & Blanco for a quote. Then went to a store at the NW corner of Hardy Oak and Stone Oak and got a much better deal. I'd go there again, they were very nice and easy to deal with.

[LastStraw]

Originally Posted by soontobetexan

First, figure out exactly what you have. Determine what's 14k, 18k or higher.

Ok...stupid question...
Are all real gold items marked ?
I have a box of old jewelry and some of the items are so old that the markings can't be read or maybe they were never there (if they aren't true gold). So how can I tell for sure?
I'm afraid if I take them to a jeweler they could tell me the piece is a different K so it will be less valued.

[soontobetexan]

It should be marked, a magnifying glass might help. But even if it's marked, it's not necessarily marked correctly -- it could be counterfeit.

A reputable gold dealer should test -- in front of you -- each piece; they rub a tiny bit of the gold off on a piece of stone, then put a drop of an acid on it. The reaction to the acid tells you if it's real gold and what the purity is. This is known as "assaying" the gold. Watch closely, and ask questions.

[SAAggiemom]

Soontobetexan ~ Thank you so much for your advice. It's taken me a while to get my stuff together but I'm ready to go in the am. Fortunately I have a scale so I know in advance I have 8 ounces of 14K. I've totaled it in grams, pennyweights, & troy ounce. Can't afford to go to NY and too scared to do it online but will hopefully find the best deal in SA.
Thanks again, so much for your advice!!!

[txtea]

I've had really good luck from Stone Oak Jewelers on the corner of 1604 and Stone Oak. Very friendly and helpful people.

[Paka]

Originally Posted by LastStraw

Ok...stupid question...
Are all real gold items marked ?
I have a box of old jewelry and some of the items are so old that the markings can't be read or maybe they were never there (if they aren't true gold). So how can I tell for sure?
I'm afraid if I take them to a jeweler they could tell me the piece is a different K so it will be less valued.

I would take it to Rufers Coins on Bandera Road (just outside loop 410 and Bandera).

If you don't know what you are dealing with, Mike is VERY honest and fair. He might not(probably not) even be interested in buying it from you, but he WILL tell you what it is worth to help you not get screwed by someone else.