Don't take your gold to local jeweler or fly bys that come to town....

[Jim C (Mich)]

Unless you have a good relationship with your jeweler. I went today with a couple of piece of gold that I knew the melt value for and the karats. Was offered $160.00 less than I can get from sending them in for melt from the fly bys that come to town for a couple days and buy peoples gold. The local jeweler had an ad offering top dollar for gold guarenteed. Top dollar for them anyway. They offered me $140.00 less than melt. I know these people have to make a profit but come on!! People are getting ripped. Just a heads up from the Jimbo
I think people just need to do their homework. I bought a gold tester and a scale. I have it figured out how much per gram you can get from the refineries for each karat amount. Kinda fun.

 

[Ed SW Fla]

n/t

 

[Randy (KY)]

Your are correct. All jewelry stores, pawn shops and the "fly bys" make a fortune by buying scrap jewelry and coins. Our local news paper is full of ads ever week from these people. No what you have and what it's worth. No the karat of your jewelry and how much gold it contains (i.e. 14k is about 58% gold, correct me if thats wrong, 18k about 75% gold) Never take less than 10% of market spot price.