my wife has a considerable amount of old gold that she no longer wears. we were thinking of selling it to one of those "we buy gold" places but i've heard of people getting ripped off. does anyone in Raleigh have any experience with this and can you recommend a gold buyer?

4/21/2011 10:34:23 AM

Just remember that gold buyers are businesses trying to make money. You probably won't get what you think you should.

4/21/2011 10:39:10 AM

My wife and I were thinking about doing the same thing.

So, this is relevant to my interests.

4/21/2011 10:39:17 AM

^^ i realize that they buy low and sell high, but some buyers offer a better price then others. i don't know of any other way to bypass the middle man and even if i could i don't know if it would be worth the extra time.

i was thinking of going here http://goldenislescoin.com/

pawn shops just seem sketchy to me

4/21/2011 10:41:53 AM

i sold a couple of 14k pieces to national pawn

reed's jewelers "guarantees" the best prices

4/21/2011 10:46:41 AM

4/21/2011 10:48:00 AM

ok so i'm going to take my old gold and silver to both golden isle coins and reeds tomorrow to see who offers the best price. by the way...gold and silver per oz it at its highest price ever right now.

4/21/2011 10:56:32 AM

please let us know what you find.

4/21/2011 11:11:25 AM

Dave Ramsey recommends http://www.goldstash.com/ if you follow him.

4/21/2011 11:15:41 AM

yeah i've checked out his information regarding financial planning but i'm more of an instant gratification person. plus i'm a little skeptical of sending potentially hundreds of dollar bucks in gold and silver.

4/21/2011 11:27:01 AM

I've got some unwanted gold to sell too. Just kidding, But I do see a lot of TV ads about Picasso Pawn but never been in.

4/21/2011 11:31:16 AM

don't be foolish


A. Look up the current price of gold.
B. Go to as many dealers as you know to see who will give you the best price. Study the deviation between offers, whether they vary greatly or are roughly the same.
C. Always counter offer with a little higher price(5%), even if you like the price they tell you

4/21/2011 11:32:46 AM

good advice!!

4/21/2011 11:51:34 AM

Dave Ramsey is full of shit, BTW.

message_topic.aspx?topic=572825

4/21/2011 11:57:51 AM

something about Dave Ramsey just annoys me. For some reason it seems like the people I know who are really into him are not really very good with money and try to "educate" me on things that I either already know and sometime disagree with/know to be wrong.

Not sure whether I can really blame that on him or not but that's all I think of when I hear his name. Sorry, I'll stop there so as not to derail the thread

[Edited on April 21, 2011 at 12:43 PM. Reason : .]

4/21/2011 12:19:47 PM

haha, that's what I was about to post. Everyone who takes his course or listens to him always wants to educate everyone else too. I usually don't say anything but just about everything they say, I'm thinking "NO SHIT!".

Sign #1 that you're horrible with money: you have to pay someone to tell you not to spend money you don't have.

Just last week, this girl was talking about how she makes $60k/yr (a figure that I suspect she greatly exaggerated, based on her occupation) and how if she just saves money for 3-4 years, she'll be able to buy a house outright and not go into debt! yeah...


[Edited on April 21, 2011 at 12:42 PM. Reason : g]

4/21/2011 12:39:45 PM

Like 300 lb Nancy enlightening you about drinking soda after watching Dr. Oz.

4/21/2011 1:00:08 PM

so, sparky... any news?

4/23/2011 9:44:03 AM

I have a friend who's brother is in the gold/jewelry buying business, from what he's told me you are typically going to get about 50% of the value when dealing w/them. In my mind I was expecting 60-65%, so clearly lower than I thought. That being said, if you can get 65% of the value, i'd suggest you take it.

4/23/2011 10:03:43 AM

I'm not sure how these prices stack up but I suspect your dealers are using something similar for their pricing

https://online.kitco.com/refining/refining_USD.html

4/23/2011 10:34:44 AM

I too wanted to post my disdain for Dave Ramsey.

4/23/2011 11:26:49 AM

i sold a high school class ring to a place in Briar Creek (next to pei wei) - it was an actual jewelry store.

I thought what they gave me for it was fair (> $100). They go by weight. They told me the price they pay/gram... then gave me an estimate of what the stone weighed (they don't include the stone), then he weighed the ring in front of me. He gave me the price based on what he said and rounded up to make it an even $5 amount -- I think I asked him for a little bit more and he met me about half way.

You can call a few places and ask what they'll pay (they should all do it by weight and k). But i had no problem dealing with the guy at this shop. It was quick and easy, they gave me a check within 10 minutes of walking in and I felt like the guy was shooting it pretty straight.

4/23/2011 10:22:36 PM

Shit if I could get 100 bucks for my class ring, I might just do that.

It's not doing me much good sitting in my jewelry box.

4/23/2011 11:01:57 PM

^^ My ex-gf and I went to the same place and sold a gold necklace that she had....fair price, nice guy. Cannot for the life of me remember the name of the place though.

easy enough find:

Raleigh Gold Jewelry & Coin

http://www.raleighgoldjewelry.com/







[Edited on April 24, 2011 at 9:37 AM. Reason : google]

4/24/2011 9:35:40 AM

I believe I also went to Raleigh Gold and Jewelry to offload some stuff. They were very helpful and sat in the back with me inspecting and weighing each piece (I had a big bag of crappy jewelry and sometimes just amorphous blobs, some of which was gold/silver and some of which was crap). Process probably took an hour or more but they were patient and at the end of it offered me more than I expected.

4/24/2011 9:46:46 PM

ok so i went to Reeds first. the guy helping us was nice and honest. he told us that some of the pieces the stones were worth more then the gold so to hang on to those. anyway Reeds doesn't take silver so that was one downfall. they gave us a quote of $400 for the gold. then we went to Golden Isle Coins. they buy gold and silver. he quoted us $661 for the gold and $156 for the silver. we sold to them.

oh and i have to mention that it was a very small amount of gold. i could easily hold it all in one hand. its crazy how much gold is right now.

[Edited on April 25, 2011 at 9:09 AM. Reason : ..]

4/25/2011 9:08:46 AM

4/25/2011 9:15:48 AM