Is it time to sell your sterling flatware?

Do you have a sterling flatware set, or in some cases, multiple sets, that you don’t use? Are you tired of cleaning and polishing the silver when it gets tarnished?

Back in the day, a sterling flatware set was a sign of wealth – think Royalty. From the 1950’s – 1970’s, silver was given as wedding gifts and anniversaries. Tables would be set with the finest silver for dinner parties and to mark special occasions. Today, it is less formal and not too many people use and appreciate a sterling flatware set.

Have you considered selling your silver? Sterling is 92.5% silver and will always have an intrinsic value of whatever silver is trading for. Currently, the spot price on silver is $16.76 per ounce. An ounce of sterling would be $16.76 x 92.5%. However, that is not the price you would receive as there are smelting fees, and the company purchasing the silver has to make money, so you would receive less (each company varies in payout). The silver would be weighed and you would be made an offer based on weight and silver price.

Are you wondering if your sterling silver flatware set is worth more than the price of silver? The answer is: rarely. The mass population does not use silver. Therefore, there are only a few top silver patterns that collector’s purchase. Sometimes even Tiffany & Co. gets smelted – imagine that! Check your local silver buyer to see if your pattern has a premium.

If you live in the Palm Beach County area, feel free to bring in your sterling silver flatware sets and other items for a free quote at the Lake Worth Gold Mine.

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL 33467

www.SellSilverLakeWorth.com

 

 

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American Silver Eagles

  The American Silver Eagle is a pure silver coin – .999 purity. Although it has a denomination value of $1, it is worth the value of 1 ounce of pure silver (currently $17.68 per ozt). The American Silver Eagle was first released in 1986 by the U.S Mint. It is the only investment grade silver bullion coin that is backed by the United States government. The American Silver Eagle is recognized and trade-able around the world which makes this a sought after investment coin.

The American Silver Eagle weighs 1 troy ounce. You can purchase in 1 ounce increments or you can purchase by the roll, which is sold in a tube of 20. For those that would like to make a big investment in silver can purchase the “Monster Box” which includes 500 ounces – 25 tubes of 20.

Silver prices have risen from 20 years ago (1997) when the average price was $4.84. On April 25, 2011, silver traded at $49.80 per ounce in the New York spot market – the all time high. It quickly fell back. In December of 2015, silver hit a 5 year low at $13.80 per ozt. It has since rebounded and currently trading at $17.68 per ozt.

If you are looking to buy or sell Silver American Eagles, be sure to check us out at the Lake Worth Gold Mine for prices. Buying and Selling – we offer low commission rates.

 

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL 33467

www.LakeWorthGoldMine.com

Never let any Gold Dealer or Buyer Make You Feel Pressured or Obligated

Are you planning on selling your gold or gold jewelry? Here’s a golden nugget tip for you; Never let any gold buyer or gold dealer make you feel pressured or obligated. Do not tolerate a dealer that makes you an offer based upon you accepting it immediatley. Never allow a dealer make you feel guilty about shopping around.

When selling your gold, a buyer should make you a fair offer based on the purity, weight, and “spot gold price” (which can be found at kitco.com). The price quoted should be good as long as the “spot gold price” does not go up or down drastically. Don’t be fooled – if gold drops $3, it should not affect the quoted price. However if gold goes up or down $10 then the quoted price will need to be adjusted. This is based on selling gold jewelry. Gold coins that are being purchased for bullion or numismatic premium – every dollar, up or down, matters. Regardless of the price, the gold buyer should not make an offer based on you accepting it immediately. A reputable gold buyer that is giving you a fair price should be willing to put their quote in writing. It is your right to shop around to ensure that you are getting a fair price on your gold jewelry. Never allow a gold buyer to make you feel guilty for getting multiple quotes.

If you live in Palm Beach County and would like to sell your gold or gold jewelry, be sure to put the Lake Worth Gold Mine on your “shopping” list. We always give the best quotes possible with a no pressure, friendly, comfortable enviorment.

Lake Worth Gold Mine
8100 Lake Worth Road
Lake Worth, FL  33467

lakeworthgoldmine.com

Selling Gold? Here’s a few tips before you sell.

Gold is still on the rise. Are you considering selling gold jewelry? If so, before you sell, here are a few tips that will help you.

First and foremost, find a local, licensed precious metal buyer. There are many individuals and “businesses” that do not have the proper license to purchase gold, silver and platinum. They are operating illegally and generally do not pay you what your items are worth.

Check out “reputations” online with BBB, Angie’s List, and other consumer review sites on the web. Customer experiences will help guide you where to go.

Avoid sending your gold jewelry to a buyer through the mail. This is scary. You really don’t know where it’s going, how it’s being processed and what the value is until they get back with you. Go to a local buyer.

The Antique Road Show is famous for evaluating antiques. Many buyers try to emulate them by setting up shop in a hotel lobby for the weekend and advertise in newspapers for a “weekend buying event”. Stay clear – they are not the Road Show! These type of gold buyers are notorious for low payouts.

Pawns are in the loan business, that is how they make money. There offers are usually less than a gold buyer.

Be careful of jewelry stores that offer you a large payout – in store credit. In-store credit is not the same as a cash payout. This allows the jewelry store to sell you more over-priced merchandise making you think that you are getting the best offer.

If you go to a local gold buyer, be sure to have ALL your items tested in front of you and then weighed by karat. This ensures that you are getting paid for 18k jewelry as 18k gold and not weighed in with 10k gold which pays less.

One of the most important tips is to get a quote from whoever you are in front of BEFORE you say what you want. A lot of times customers are not aware of how much their gold is worth. If they ask you “how much do you want?”, do not walk, run out the door. You are about to be taken advantage of. Make them quote you first.

Shop around, get some quotes. Get written quotes, with the price of gold and the weight of your items. Gold does go up and down hourly like the stock market, prices are subject to change and this will ensure that if you go back you get what was offered. If a shop will not give you a written quote, again, run!

These tips should help you get the maximum price for you when you sell gold jewelry.

If you live in the Palm Beach County area and are considering selling gold, then put the Lake Worth Gold Mine on your shopping list for the most competitive offer.

Lake Worth Gold Mine
8100 Lake Worth Road
Lake Worth, FL 33467
561-729-0094
lakeworthgoldmine.com

Where and How to Sell a Diamond

Diamonds are valued based on the four C’s; color clarity cut and carat weight.

Currently, small diamonds do not have much value in the diamond buyer market.Diamonds that are a half carat are evaluated based on grading. Diamonds that are over the one carat mark have actually increased in value 10% over 2011 diamond prices.

When selling your diamond or diamond ring do not expect to get what you purchased. Jewelry stores such as Jared’s and Kay’s are on a high mark up and interest plans – they are retail and sell retail prices.

Get a couple of quotes when you are selling your diamond to ensure you get the best bid. If you have papers such as a GIA or IGI certification then you should bring that along with you. An appraisal is just an appraisal and is usually artificially pumped up for insurance replacement purposes. A GIA or IGI certification is the authority on color, cut, clarity and carat weight.

If you live in the Palm Beach County area and are selling a diamond put Lake Worth Gold Mine on your shopping list for the most competitive bid.

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL  33467

Have you considered selling your gold jewelry but not sure who to sell gold to?

There are many options such as a pawn shop, retail jewelry shop, a gold buyer or 
refinery to name a few.  You want to make sure that you are selling your gold to 
a licensed gold buyer. There are County, State and Federal regulations that a 
licensed precious metal buyer have to follow. Many hotel buyers, flea market 
vendors and Craig's list buyers do not operate in a licensed manner.

Do your research and check for state and county licenses. Are they a member of 
the local community and Better Business Bureaus? Check their reputation by 
doing a google review search or check the social media networks such as Facebook to see 
what people are saying. 

Selling gold can be a rewarding experience if you are selling to the right gold 
buyer. Be leery if the business does not weigh your items in front of you - in 
calibrated and certified scales. All items should be tested in front if you to 
determine gold purity. Be sure to have your gold weighed by carat as opposed to 
one master weighing and then offered a lump sum for all.

Check back for other tips for selling gold.

If you live on the Palm Beach County area and would like to sell gold, be sure 
to put us on your shopping list for the most competitive bid.

Check us out at our website, www.LakeWorthGoldMine.com

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Lake Worth Gold Mine
8100 Lake Worth Road
Lake Worth, FL 33467
561-729-0094

Are you Selling Gold?

It is a great time to sell gold. Although gold is not at its all-time high, it is still high.  And that means a little bit of gold can be a lot of money.

When selling gold jewelry, the gold buyer will separate your items by karat, which tends to be 10k, 14k, 18k and 21k. Once the jewelry has been checked for purity, the gold buyer will weigh up the different karats and then give a price for each type. It is usually weighed in grams (g) or pennyweights (dwt).

When you see the price of gold on tv – that is quoting 24k (pure gold) for an ounce. You will not get paid this amount unless you have pure gold in coin or bullion form. Jewelry is not pure and must be refined. You will be paid on the purity and less smelting fees. Shop around to get the best quote as each gold buyer has their own pay-out formula.

If you live in Palm Beach County and plan to sell gold jewelry, be sure to put the Lake Worth Gold Mine on your shopping list for the most competitive bid.

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL  33467

Gold Hallmarks – What do they mean?

 

Have you ever wondered what a gold hallmark means? For the most part, a gold hallmark will tell you what the gold purity is.

Typically in the US, the following gold hallmarks are used; 10k, 14k, and 18k. European hallmarks tend to use the exact purity content, such as 417, 585, and 750.

10k gold is 41.7% pure (hence the European hallmark of 417).

14k gold is 58.5% pure and 18k is 75.0% pure gold.  22k is 90.0% pure.

When you sell gold jewelry, you will get paid based upon the gold purity. You will receive an offer based on your 10k jewelry and a separate offer for 14k jewelry and the same for other purities.

Gold-filled jewelry is usually hallmarked with 1/10th or 1/20th of 12k – sometimes 1/20th of 14k. This jewelry is not solid gold through and through and most gold buyers will not purchase gold-filled jewelry.

Gold jewelry that is hallmarked with “18k GE” is gold electroplated. This basically means that they piece of jewelry is “sprayed” with 18k gold – also known as gold plate. Gold buyers do not purchase gold plate or gold electroplated jewelry.

If your jewelry does not have a hallmark it will need to be tested. Most pieces like this are not gold but always get it checked because there are custom-made pieces that are gold – just not marked.

If you live in the Palm Beach County area, and looking to sell gold, be sure to get a quote from the Lake Worth Gold Mine.

 

Gold Buyers Wellington, Gold Buyers West Palm Beach, Gold Buyers Royal Palm Beach

Lake Worth Gold Mine

8100 Lake Worth Road

Lake Worth, FL 33467

Selling Gold Coins? What is your Gold Coin worth?

Selling Gold Coins? What is your Gold Coin worth?.

Selling Gold Coins? What is your Gold Coin worth?

Whether you are a gold investor or the recipient of a grandparents gift, when it comes to selling gold coins, there are several different factors, including grading, that  determine market value. Coin Dealers and Gold Buyers will buy all US gold coins, and some may buy foreign gold coins.

Coins vary in gold content from 1/20th ozt gold Chinese Panda to a 1.2 ozt $50 Mexican Peso. A coin may weigh more than the actual gold content as most gold coins are 900 purity (22k). Only the Chinese Panda, Australian Kangaroo, Canadian Maple Leaf and the  US Buffalo are pure gold (24k).

Each gold coin will have a date, and possibly a mint-mark. Just because a gold coin may be old does not mean it has more value than the gold content.  In the coin world it is all about how many were minted. For coins that are rare, they are also graded and valued based on condition.

Coins that have already been authenticated and graded by a professional grading company such as NGC and PCGS potentially have more value than coins that have not been authenticated. Be careful of coins that are NOT graded by NGC or PCGS. Other companies grading do not hold the same authority.

If you are selling gold coins, bring them into the Lake Worth Gold Mine for a free evaluation.

Lake Worth Gold MIne

8100 Lake Worth Road

Lake Worth, FL 33467

http://www.lakeworthgoldmine.com