What do you expect if you look for gold buyers in New York?

Do you expect high prices, honest advice and friendly customer representatives if you look for a gold buyer in New York? Well done, you are ready to sell your gold setting high standards. But before you go out, take some of your precious minutes to learn more about gold buyers in New York. We unlocked some dealer secrets and we want to prevent you from a selling-imminence if you read our New York guideline carefully. And you really should read it because selling with the wrong chosen gold buyer can cost you a lot of money. We know a story about an elderly New Yorker lady selling gold and jewelry in 2014. Her husband had a leading position in the consulting industry with high incomes and could afford buying expensive jewelry for his wife over two centuries. But sometimes, life goes strange ways and things are changing. It came to a divorce after her husband found a new love in a mid-twenties woman. The lady was responsible for all expenses from one moment to the next. She came in financial needs, after spending her savings for insurance bills, taxes and real estate expenses. It was therefore self-evident that she had to sell jewelry and gold to avoid debt. She had no bill of sales because all items were gifts from her ex-husband. So she had no idea how much he paid once and how much here items are worth. She decided to sell her gold and jewelry to some different gold buyers in the diamond district. She didn’t sell all in once, only piece by piece and only in case of demand for cash.

The lady sold the jewelry to different stores where she thought or knew that her husband has bought the pieces. She never calculated getting paid to little money for her assets. She trusted the gold buyers in New York. The time passed and guess what happened? The lady and her ex-husband fell in love again. She fell ashamed and kept her selling a secret as long as she could. One day her husband insisted on wearing a special piece of jewelry of an anniversary. There was no other way than telling the truth. Together they found out that she got ripped-off extremely. She kept all selling records and based on that her husband calculated with help of an appraiser that in total she got paid $250,000 too less money. You see what can happen if you trust the wrong gold buyers. You can lose huge amounts of money.

Investigate your selling options before you sell your gold in New York

You should know more about the value of your items before you sell your gold in New York. A bill of sales or a certification can be very helpful to unlock your jewelry’s value. Use a gold calculator, if you sell old-fashioned gold or scrap gold or use a diamond calculator if you plan to sell diamonds. Using such tools is a very good preparation before selling. You can avoid getting paid too less if you know the amount you should get paid. Well, such tools don’t work for designer jewelry, very rare jewelry or antique pieces but over 95% of all present items can be calculated that way.

Run your own gold buyer comparison in New York

Ask reliable online gold buyers like reDollar.com for a free quote before you shop around in New York. Such companies provide a free evaluation for gold, jewelry, diamonds and watches without spending time for driving around. You can start in New York, after calculating a price by yourself and asking online companies. You can look at our gold buyer listing for New York or you use yellow pages (http://www.yellowpages.com/yonkers-ny/gold-buyers) to set up your own comparison list.

Sell gold in New York: the diamond district and famous diamond malls

You can sell gold to diamond district-gold buyers in New York or also to gold buyers in jeweler malls like the famous IGT Jewelry Shopping Mall, located at 44 West 47th Street. But as you learned at the beginning, a well- known dealer with a fancy store is not automatically reliable or honest. Especially in malls, dealers are networked – more than you may believe. We run a gold buyer comparison in a famous New Yorker mall and we met the owner of a store that we have tested, some hours later in another store talking with employees. Hide what you have and make a secret, if you own very special jewelry that you would like to compare. Maybe you just compare 2 or 3 gold buyers in one block or in one building before you take a break. Continue your comparison some days later. We know for sure that you can sell a 2 carat diamond for $5,000 at one place and maybe for $10,000 at another place.

Sell gold in New York: gold buyers, jewelers and pawn shops

Scrap gold can be sold to gold buyers, pawn shops and jewelers in New York. We estimate that New York has more than thousand places where you can sell gold, silver, jewelry, coins, dental gold or ingots. Such cash for gold spots are known for fast cash. But do you think the majority of these places pay you proper? Right, most won’t. We know that a significant number of such places charges you up to 50% of the current gold price for turning your gold into cash. So maybe you would get $500 for gold worth $1,000. Is this satisfying for you? Yes? No? Or would you sell your brand new, unlocked and unpacked iPhone for $300? No, and it’s the same with gold. Selling for just the half of the current value is not fair.

Learn more about the current gold price

Here you learn how much your gold is worth. Remember that no dealer can pay you the stock price for your gold. But a proper offer should be prized in the range of minus 10% or 15% off the current gold price.

10K gold vintage college rings, class rings, pins or brooches $25.7 each dwt.
14K gold rings, bracelets, necklaces, pendants $36.2 each dwt.
18K gold engagement rings, wedding bands, fine jewelry $46.5 each dwt.
22K gold Middle East jewelry, coins $56.8 each dwt.
24K gold coins, ingots, bullion and rarely jewelry $62.2 each dwt.

Danger if selling gold in New York

Don’t underestimate the danger you could get into while offering gold or jewelry in New York. And it’s not only us warning consumers for selling gold. Even the Department of Consumer Affairs published a warning for dealing with the gold buying industry. They discovered that three of four gold buyers are in violent of local laws. What a shocking statement, isn’t it? We listed some examples for you:

Embezzlement of gold or jewelry: Many people sell inherited gold or jewelry. They pick out some pieces for their memories and bring the whole rest, very often even in grandmas jewelry box, to the next cash for gold spot in New York. Let’s say there are over 50 different pieces in such a box. Are you really able to check all pieces after a gold buyer determination? They could “forget” a ring, a brooch or even a coin in their X-ray analyzer machine and you will never find out. And even if you do so, how can you evidence such a case hours or days later? Right, you can’t. We recommend you to take out 5 or 10 pieces of a lot of jewelry. Take a photo and count your items after a gold buyer’s evaluation. Reclaim immediately if something is missing.

Weighting fraud: New York gold buyers have to tell you the exact weight (in pennyweight, ounces or gram) and even the alloy (in karats) of the gold and also the price per unit that’s used to calculate how much you’re getting offered. Leave the store, if a gold buyer is not willing to tell you this information. And consider that you’re in a better position if you know the weight and the quality before speaking with local gold dealers. You can double-check their measured weight if you know the weight before. This helps avoiding weighting fraud

Robbery: Offering gold to dubious dealers can bring you into very dangerous situations. From time to time you can read about robbery in connection with gold buyers. You can get in big trouble, if you offer very high priced jewelry to a fraudulent and criminal gold buyer. They could pursuit you after refusing their purchase offer and you could get robbed in your house, car or apartment. Well, that hardly ever happens but take this warning seriously when you shop around and don’t enter dubious looking gold buying locations.

Don’t be too afraid now. Just bear in mind that some gold buyers can have unreliable interests. There are very honest guys out there but it’s not so easy to find them.

Famous spots in New York where you can sell gold:

  1. You can sell gold to gold buyers in Manhattan
  2. You can sell your gold to buyers in Brooklyn
  3. You can sell in Queens
  4. You can sell gold and jewelry in Staten Island
  5. You can also sell in Bronx
  6. You can sell gold and jewelry in the diamond district
  7. You can sell gold using local auction houses

Recently asked questions from New York City

Isaac asked: How much is a ruby worth?
Daniel asked: Who buys dental gold?

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