Where to sell gold in Oklahoma City-OKC, Oklahoma
Where to sell gold:
There are basically 4 places to sell your old and unwanted gold and jewelry.
1. A pawn shop
2. A jeweler
3. A national mail-in gold buyer
4. A local gold buyer
Let’s take a look at each one of them.
1. A pawn shop
- I think you already know about this option…all I can say is don’t expect much money.
I’m just not a big fan…this should always be a last resort decision…they’re never going to pay you much
and most of the time the experience sucks!
2. A Jeweler
- A jeweler will definitely know their stuff…this is what they’ve done their whole life.
At the same time…based on my experience they will pay you more than a mail in company and
less than a local gold buyer.
Another hang up I have with jeweler’s are the way they test. I’ve seen 2 ways a jeweler will test your gold.
1. They will look at the imprint and weigh the gold and quote you a price for you gold. This can be good or bad
for the jeweler but can only go bad for you. In this case, the jeweler has to pay you less money for your gold
because they are taking the risk of your gold being fake…because they didn’t really test the purity of it. If the gold
is fake than the jeweler takes a hit…because of this risk, he/she can not offer you much money. Or the gold is
real and the jeweler wins because he got gold at a great price.
2. Acid test…I hate acid testing…have you ever held the stick in the water to see what color it changed? Is that blue-ish
green enough for the pool to need more chlorine? That’s what I think about when I think of acid testing. You have
to rely on your eye to see the proper coloring…not as accurate as I try for. The second thing I don’t like about
jewelers acid testing is that they file a nice little chunk out of your gold for two reasons: they’ll know if it’s gold plated
and so the acid can get down in the gold.
My last hang up with the jewelers I’ve been to is that they don’t test the gold in front of you…they take your gold to “the back”
and come back up with your gold and a price…not a big fan of that method.
But with all that said, a jeweler will offer you a decent amount of money…usually.
3. A national mail-in company
- Well, I am going to try and keep this short all though I think I could write a book on all the reasons
I don’t like the idea of you selling your gold to a national mail-in company. Feel free to also read my “insider secrets” post.
Reasons I’m against option #3
1. You have to mail your gold…anything could happen with the mail system…and if you do lose the package it is mostly insured for
less money than what your gold holds in value so not only do you lose your gold but you lose the difference between the value of your
gold and the price the package is insured
2. You don’t get to meet them face to face…enough said
3. They don’t have to test the gold in front of you which means they don’t have to stay accountable to you or to high quality testing
standards
4. They take advantage of you by offering you a low price for your gold because they know you don’t want to go through the effort
and time of getting your gold returned and starting the process again
5. You have to wait days and sometimes weeks just to get your money!!!
4. A local gold buyer -
This is my favorite option because
1. A local gold buyer specializes in buying gold…they’re not a pawn shop and they aren’t a jeweler, they’re a gold buyer…which is what you’re looking for!
2. They are more flexible to work with.
3. If you don’t like their price, decline and move on and you don’t loose time
4. A good local gold buyer should make an appointment to come to you
5. They can test the gold in front of you so you see how they do it
6. You should get paid the same day!!!