Many businesses specialize in giving you cash for gold in West Covina CA. They are found in small shopping centers, busy downtown streets, in fact any place where many people walk and drive. It is usually a spur of moment decision so they want to be close to their clientele and easy to find.
This can be an easy way to generate some quick cash if you have old necklaces, earrings, rings, bracelets and pins made of gold taking up space in the back of your drawer. It is common to push a necklace with a broken clasp to the back of a jewelry box and forget it. Since you are getting no use out of the item, it makes sense to turn it in for some handy money.
The traditional way of turning gold jewelry into cash is to take it to a pawn shop. This isn't always the best way to get the most money. To get the best deal, you need to spend time researching how much your jewelry is worth in the open market and which business will give you the most for it.
Look online or in a newspaper for the current price of gold. Check your pieces for the purity of the gold, measured by karats. This information is often found on the clasp. It will be a number followed by the letter K. Most pieces are 10K, 14K, 18K or 24K. Pure gold is 24K and each of the smaller numbers are a percentage of that. For example, 18K is seventy five percent pure gold.
If you have a number of pieces, separate them out into three piles, antique, in good condition and broken. Take the antique jewelry and the gold in good shape into a professional jewelry shop to learn more about them. You can also ask them to give you estimates for your broken pieces.
An antique piece is often worth more for its historical and artistic value than it would be melted down. This is sometimes true of intact gold jewelry also. In both cases the sticking point can be finding the proper buyer who will pay you a fair value for them. If you are in need of money right away, you may have trouble finding one who will complete the transaction in a timely manner. Many collectors like to think about purchases after they examine them, taking weeks to make up their mind. It is good to remember that if you can wait, you will receive far more than if the antique piece is sold for melting.
Find shops that pay cash for gold in your area. Bring in your intact and broken gold jewelry and ask how much they will pay you. Let them know ahead of time that you have had the items appraised by a jeweler. This will keep them honest. They will weigh each piece on a special scale, taking into consideration its karat value. The price they offer you depends on the daily spot price of gold and what the demand is locally.
The number of shops that pay cash for gold has skyrocketed over the the last decade in response to the steady increase in international gold prices. Gold increased five times in value in the space of a single decade. These shops fill a need since investors want the gold and jewelry owners are in search of quick cash. The shop owners weigh and assess the value of each item you bring them. After paying you a fair market value for the intrinsic worth of the gold, they sell it in turn to a gold broker who melts it down. This makes its way to investors.