1 /5 Marina: Dont sell your gold to this place - theyll rip you off.
Yesterday, I took in a small pair of gold hoop earrings stamped 750 which is 18k and weighing 1.61 grams. The lady told me its 14k and never told me the weight and offered me a little over $30. I asked her if the 750 stamp meant anything. She looked again with her loupe and offered a little over $40. I told her Ill go to another place where theyll be more honest with me.
Yesterday, the price of gold was around $2686. So the value of these earrings is around $104. So even if she had offered around $84 - which would have been 20% less than $104 to cover her overhead, that would have been decent. And Im being generous with the 20% - in truth, it should be no more than 10% to cover her cost.
The reason I took these earrings to this place was to see how fair they would be - as I have more childhood pieces that I want to sell. I got my answer.
Its funny - they have all this security in place to prevent robbery . . . . in reality, theyre the dishonest ones, taking advantage of people.