Cash-for-Gold or Pawn Shop? (Raleigh, Bailey: sales, how much, buying)

[ERH]

I have some jewelry I don't wear anymore and would like to unload. I've never done this before. Should I head straight for the pawn shop or find a cash-for-gold place? (I have NO IDEA how much gold is in each piece, since they were gifts from long ago!)

Any recommendations for fair/reputable places?

[Rdanville]

I would get several quotes. the price will change daily. They're going to melt it down anyway so you might as well get the most $$ you can.

[benthephysicist]

Here's how you can be the smart shopper:

Gold, Silver, Gold Price, Silver Price, Gold Rate, Gold News | Kitco

It'll tell you this minutes price of gold per ounce. Right now its about $1576/oz. Your pretty necklaces and such that get sold to them get melted and then sold. The Cash 4 Gold, Pawn Shops, etc., are all middle men for the melters. Middle men make money, and each will have varying prices.

Once you are armed with the spot price of gold, you can get a few quotes. The problem is that you dont know what your item is, and without that its hard to say what its gold weight is. Golds price does change every second, however keeping a general eye on the spot price is normally enough. Those huge swings in the market where gold goes sky high or drops to the floor in the newscasters eyes only happen so often. Use your own risk to determine if you want to sell NOW or wait a while and chance the gold price going up or down. Be sure you report back with what you find, it'd be nice to hear one of these threads that happen a lot get updated with results of what their experiences were.........

I would however advise strongly against the mail order Cash 4 Gold franchise -- they are money pits and consumers have terrible benefits from their prices and service. Google the mail order and then add "complaints" after the term too and it'll help sort the good from the bad.

Hope this helps!

[milliehubbard]

I Had a good experience selling gold at Raleigh Fine Jewelry Gold and Coin on Little Brier Creek Pkwy, just off the corner of Glenwood and Brier Creek Parkway.

I got a very fair price on 14K & 18K gold. In fact the owner was very honest about testing the gold and telling me that a piece that I thought was 14K was actually 18K. I am not affiliated with the store in any way just a very satisfied customer.

I do agree with other posters, I wouldn't suggest a pawn shop, mail away etc. Deal locally and with a jewelry store that can explain the gold sales process to you and answer your questions.

[NCSUDisneyGirl]

Originally Posted by milliehubbard

I Had a good experience selling gold at Raleigh Fine Jewelry Gold and Coin on Little Brier Creek Pkwy, just off the corner of Glenwood and Brier Creek Parkway.

I got a very fair price on 14K & 18K gold. In fact the owner was very honest about testing the gold and telling me that a piece that I thought was 14K was actually 18K. I am not affiliated with the store in any way just a very satisfied customer.

I do agree with other posters, I wouldn't suggest a pawn shop, mail away etc. Deal locally and with a jewelry store that can explain the gold sales process to you and answer your questions.

I agree with everything said here. I felt like the process was extremely transparent and felt like I got fair prices. I've sold a couple times and been very happy.

[hc130radio]

Have you tried looking for a kart stamp on your pieces. You might need a magnify glass, since these markings can be very small.

[goodtimes59]

Go to a jeweler and get them to identify your gold, I would suggest Baileys Fine Jewelry in Cameron Village. They are very reliable and trustworthy. They will also buy if you decide to sell to them. I would suggest that you ask them what they pay per gram, or per pennyweight. If you don't get at least $16.50 per gram for 10K and $21.00 for 14K you should sell to someone else. Check your messages I left you one. Have a Merry Christmas and good luck. There are many honest gold buyers out there to choose from.

[benthephysicist]

I wish some of you would read the OP's question........ I try to help with a reply and I get FIVE private messages (two from repliers here) telling me how they pay the most for gold and they are the best etc........

I am not buying or selling, duh. Read the thread before you PM spam please

[boardjnky4]

Whatever you do, DO NOT use a "mail away" program. They are a scam.

[saturnfan]

National Pawn gave us a great price on extra gold.