Cash for gold - anyone done this?

luckylauren14

I keep seeing all those cash for gold ads and hear that the price of gold is still going up... I have random jewelry that NEVER sees the light of day and that I have no sentimental attachment to, so I figured I'd make some extra $$ especially for the holidays.

If you have done this, do you think it was worth it? Did you get a lot of $$ (more than $200?) or not a lot? 

And were they skeezy? I don't want to walk into a pawn shop type place... 

Wine O Mite

I didn't go to the actual Cash for Gold stores or mail it in, but I did take it to my local jeweler.

I didn't have *that* much gold, but I had a couple old pendants, kinked chains and some other gold stuff that I hadn't worn in years and my jeweler gave me $375 for all of it.   

nancy30005

I did this about a year ago. I had a two gold rings and one gold hoop earring. I got  $75 and was very surprised to receive that much. 

It wasn't skeezy at all, thank goodness. I had Beau with me. They sat us down, explained the process, checked to see if the stuff was real gold, weighed it and wrote a check. If you have stones in settings, they aren't interested, so see if you can keep those. 

GL!

luckylauren14

Hmmm... Okay. I know there are some stores around me that do this and I think they accept stones too. Maybe I'll go tomorrow when DS is in school. I guess it's worth just getting a quote, right? 

luckylauren14

HilarityEnsued:

They are a f'ucking ripoff. 

I lump these into payday loan companies.

Did you have a bad experience? I'm not talking about actually mailing it in, but there are some stores (some are actual jewelery stores) that do this. 

luckylauren14

HilarityEnsued:

luckylauren14:

Did you have a bad experience? I'm not talking about actually mailing it in, but there are some stores (some are actual jewelery stores) that do this. 

I did.  I have some rings that I actually have an appraisal on (and brought with me) and the man was offering maybe 20% of the appraised value.  It annoyed me. 

But in reading other people's replies, I'm thinking maybe I went to some shady place since other's haven't had such bad experiences.

Yeah. I think that is what I am afraid of. I'll have to dig around and find out some of the more reputable places in the area... 

Wine O Mite

HilarityEnsued:

luckylauren14:

Did you have a bad experience? I'm not talking about actually mailing it in, but there are some stores (some are actual jewelery stores) that do this. 

I did.  I have some rings that I actually have an appraisal on (and brought with me) and the man was offering maybe 20% of the appraised value.  It annoyed me. 

But in reading other people's replies, I'm thinking maybe I went to some shady place since other's haven't had such bad experiences.

I think maybe you were just expecting more because of that appraised value.  They give you an amount based on weight of the gold.  

Duckie678

Hello- lurking here. Having worked in jewelry for a number of years, I highly recommend not doing the mail away places, such as cash4gold, or going to a pawn shop. They won't give you the value of the jewelry, and not to mention there are reports online of Cash4gold being a scam.  I recommend going to a reputable jewelry store that purchases secondhand items. I'm not entirely sure of any other states, but I know in Maryland each person employed in the store has to be licensed to buy secondhand. They will separate the pieces by karat weight (10k, 14k, etc.) and weigh them. Sometimes they will offer more for pieces they believe others would be interested in, like an estate piece or antique jewelry.  Look for places with signs that say " We buy gold" in the window, or to save time, check out their website. Hope this helps!

Wine O Mite

Duckie678:

Hello- lurking here. Having worked in jewelry for a number of years, I highly recommend not doing the mail away places, such as cash4gold, or going to a pawn shop. They won't give you the value of the jewelry, and not to mention there are reports online of Cash4gold being a scam.  I recommend going to a reputable jewelry store that purchases secondhand items. I'm not entirely sure of any other states, but I know in Maryland each person employed in the store has to be licensed to buy secondhand. They will separate the pieces by karat weight (10k, 14k, etc.) and weigh them. Sometimes they will offer more for pieces they believe others would be interested in, like an estate piece or antique jewelry.  Look for places with signs that say " We buy gold" in the window, or to save time, check out their website. Hope this helps!

Yeah, my jeweler doesn't advertise that he does this.  I just happened to bring all my old gold in and ask him about it.  I thought he gave me a fair amount, but I didn't shop around because I was hoping for around $50-75 and when he offered  $375, I was like "AWESOME!"

luckylauren14

Duckie678:

Hello- lurking here. Having worked in jewelry for a number of years, I highly recommend not doing the mail away places, such as cash4gold, or going to a pawn shop. They won't give you the value of the jewelry, and not to mention there are reports online of Cash4gold being a scam.  I recommend going to a reputable jewelry store that purchases secondhand items. I'm not entirely sure of any other states, but I know in Maryland each person employed in the store has to be licensed to buy secondhand. They will separate the pieces by karat weight (10k, 14k, etc.) and weigh them. Sometimes they will offer more for pieces they believe others would be interested in, like an estate piece or antique jewelry.  Look for places with signs that say " We buy gold" in the window, or to save time, check out their website. Hope this helps!

Thanks! It does. The cash4gold seemed a little skeezy to me. I know of a few jewelers that buy gold so I will do some research regarding them. But thanks for the advice!

 

luckylauren14

Wine O Mite:

Duckie678:

Hello- lurking here. Having worked in jewelry for a number of years, I highly recommend not doing the mail away places, such as cash4gold, or going to a pawn shop. They won't give you the value of the jewelry, and not to mention there are reports online of Cash4gold being a scam.  I recommend going to a reputable jewelry store that purchases secondhand items. I'm not entirely sure of any other states, but I know in Maryland each person employed in the store has to be licensed to buy secondhand. They will separate the pieces by karat weight (10k, 14k, etc.) and weigh them. Sometimes they will offer more for pieces they believe others would be interested in, like an estate piece or antique jewelry.  Look for places with signs that say " We buy gold" in the window, or to save time, check out their website. Hope this helps!

Yeah, my jeweler doesn't advertise that he does this.  I just happened to bring all my old gold in and ask him about it.  I thought he gave me a fair amount, but I didn't shop around because I was hoping for around $50-75 and when he offered  $375, I was like "AWESOME!"

If that happens to me I will be the happiest girl on the block! 

LuckyDad

You actually might get more cash for your jewelry at a pawn shop than doing cash for gold. If it's *nice* stuff they think they can sell, you will get more value than from places that just plan to melt your gold down and resell it in bulk. Try shopping around online and seeing if there is anywhere offering a better price than local stores.

PrincessFiona9

I got 60 for a 14k herringbone necklace. Not too bad.

Kitiara5512

One of our brands at work does the mail it in stuff. Its okay money, more than a pawn shop, no where near retail.