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Selling Gold


matt770
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So I've got some old 14K gold jewelry that I'd like to sell without getting ripped off. I see countless offers lately, goldkit.com, usgoldbuyers.com, etc. You mail it in, they send you a check. Has anyone used any of these services with any success?

 

ETA: Shoot, my bad, can someone move this to the Tailgate. Thanks.

Edited by matt770
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No matter what you do you are going to get a bit ripped off...

 

Your best bet is to find a local cash for gold/pawn/pay roll advance type joint that has a good reputation in your region and do it there.

 

+1

 

Take it around to local jewelers/pawn shops and ask what they'll give you for it.

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Unless you are selling them to a person that wants it, you are not getting FMV for them. You are going through a middleman so of course you will be ripped off. They need to make a % on it while selling it for FMV.

 

It's an old bracelet and chain, way out of style, so I was thinking the value of the gold would be more than the pieces sold to someone as jewelry. For that reason I wasn't going to bother with pawn shops or jewelers and wondered if any of these gold-buying outfits actually paid fairly. I guess any amount in my pocket is better than these sitting in a box for 20 more years.

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It's an old bracelet and chain, way out of style, so I was thinking the value of the gold would be more than the pieces sold to someone as jewelry. For that reason I wasn't going to bother with pawn shops or jewelers and wondered if any of these gold-buying outfits actually paid fairly. I guess any amount in my pocket is better than these sitting in a box for 20 more years.

 

May of the pawn shops and jewelers do the same thing that the gold buying outfits do...essentially collect bulk gold and sell it back to their wholesalers or melt it down themselves in some cases....check local first, the minimum advantage is you can shop multiple outlets and get prices, versus putting it in a envelope and getting what they send you

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