selling gold

Tagged selling gold

3 Steps to Sell Gold With Gemstones

Most people know that any gold jewelry can be sold off for its precious metal content value quite easily these days through a local cash for gold dealer. A solid piece of gold jewelry can fetch a price well beyond its aesthetic appeal due to the precious metal content or its “melt” value.

One question we get asked fairly often is whether we can purchase jewelry that has gems, and how much we pay for them. While we can purchase any type of gold, whether it has gems or not, we can actually offer a higher price for jewelry with diamonds. For other gemstones we simply deduct their weight from the total weight of the item, and can often remove the gems if you are interested in keeping them. (Scroll past the video to read further)

Small diamonds have very little value on the market, so we simply include them in the gold weight, but for diamonds over 1/4 carat, we can set up an appointment with our GIA Certified Gemologist, Rachel, and make an offer on the diamond separately.

Here are some simple steps to get cash for gold on your jewelry with gems:

  1. Determine the type of gem; if it’s a diamond, it can be added to the price of the item, if not it will be deducted from the weight.
  2. If you have a diamond we measure its size, if it’s larger than 1/4 carat, we can set up an appointment in our Vancouver or Surrey office to have it evaluated by our gemologist.
  3. We determine the precious metal content by deducting the weight of the gem and multiplying by the current market price of gold.

It’s as simple as that! Any gold or silver item can be sold through our stores, and if you’re lucky enough to have jewelry with a nice sized diamond, then we can make you an offer on that too.

Please contact us to set up an appointment if you have a diamond, or simply stop by your nearest location for an on-the-spot no obligation quote.

How To Sell Gold Jewelry in Vancouver With Peace of Mind

We’ve all seen those cash for gold commercials invading our television sets and we’ve also heard stories from our friends and family of their bad experiences when selling gold. However selling gold jewelry in Vancouver does not have to be a chore and can be a lot of fun, especially when you are going home with $100 bills caressing your pant pocket. Therefore in this blog post we at Vancouver Gold want to give you three tips to improve your experience when you sell gold in Vancouver.

1) Get to know your gold: Knowing the weight, purity and general value of your gold will decrease your chances of being taken to the cleaners by a gold buyer in Vancouver. Many gold buyers know the balance of information is in their favour and will take advantage of your lack of knowledge.

To figure out the weight, a good digital kitchen scale will probably give you the best idea, but another (less exact) option is to simply compare its weight to another item with a known weight. For example, hold a loonie in one hand and your gold in the other, do they weigh about the same? Most Loonies weigh about 7 grams (the newer ones are a little less). If it’s less than the loonie, try a quarter, they weigh about 4.5 grams. The purity of your gold jewelry is usually indicated by a hallmark, a small number usually located in an inconspicuous spot. It will likely say 10k, 14k or 18k but some European jewelry is stamped with a 417, 585 or 750, gold from Asia is usually stamped 22k, 917 or 999.

Most reputable gold buyers will post their prices per gram online listed by the purity. Our buying prices can be found here. Simply find the price for your purity of gold jewelry and multiply it by the weight and you’ll have a pretty good idea of what your gold is worth!

2) Shop Around: Many gold buyers will start off with a low offer hoping you’ll bite. Their buyers are usually paid on commission and will earn more if you accept a lower offer. Our buyers are not paid commissions and offer the highest payout up front. This is why it’s important to check prices first, be sure that you are at least being offered the rates they post online. Many gold buyers will post impossibly high prices online to lure you in, only to lowball and deduct once you are in their office assuming you will negotiate up from the lower value.

3) Check out Ratings: Most established businesses are assigned a rating by the Better Business Bureau based on the number of complaints they have received from actual customers. The BBB compares the number of complaints to the volume of business that is conducted as well as the typical complaint rates for businesses in that industry (unfortunately in the gold buying industry this rate is usually quite high). Click here to see the BBB ratings of gold buyers in the Lower Mainland. Always make sure that the gold buyer you are dealing with is listed by the BBB and is not a typical “here today, gone tomorrow” establishment.

With so many gold buyers in the Vancouver area it can be hard to find the right place to sell your gold jewelry and get the fair payout you’re looking for. However keeping the three tips above in mind when you sell gold jewelry, you can rest assured that you won’t cave to pressure sales tactics and improve your gold selling experience, leaving you happy, educated and with some extra cash in your pocket!

How Do I Know What It’s Worth?

It’s the question most people ask themselves before heading out to cash it in: “Will I get $50? $100? $500? I have no idea!”

The truth is that price charts, weights and stamps found on most gold buyers’ websites, including our own, mean nothing if you’ve just got a bit of gold and no way of weighing or testing it.

That’s why we’ve been busy uploading pictures and the prices we paid for some of our recent purchases. Lots of jewellery is mass-manufactured, so you might actually find exactly what you’re trying to sell in our list of items we’ve already bought. Find out exactly what your gold is worth!

You’ll see that it really doesn’t matter what your gold looks like; whether it’s broken, worn-out or just plain ugly, it doesn’t matter! Vancouver Gold pays strictly for the precious-metal content in your jewelry.

You’ll also notice there’s a loonie placed in each picture, just to give you a common reference point in case you’re wondering what size the piece is.

With a 150% highest payout guarantee, and as the only gold buyer in the Lower Mainland to be accredited by the Better Business Bureau, trust in Vancouver Gold.

How to protect yourself when selling gold

Most people know there are many companies out there trying to convince you to sell your gold, it’s hard to miss all the ads. This highly competitive market attracts many different businesses which is great for consumers, but there are some important factors to consider before selling your gold.

Make sure you arm yourself with the right information before making your decision to sell, the BBB has put together a quick guide which is a great place to start:

Stay up to date on all the important news, alerts and breaking stories in the world of business via the Better Business Bureau’s News Center.