Call Today: 404-386-6009

There are plenty of reputable gold buyers in Atlanta. Generally, when people have gold or gold jewelry to sell, they either contact a local gold buyer or visit a pawn shop. You might not think there’s much difference between the two. However, they are distinct experiences. It’s worth considering the advantages and disadvantages of each option before you make a final decision.

Pawning Gold

A pawn shop deals with a wide variety of merchandise. Televisions, musical instruments, and a laundry list of other items are fairly common at pawn shops. While pawn shops do purchase jewelry, they don’t necessarily specialize in it. This is an initial limitation. If your gold jewelry is ornate or complex with precious or semi-precious stones and other metals, their appraisal may not be as accurate. The value of gold is primarily determined by karat and weight. Getting your gold jewelry appraised before you visit a pawn shop is a good idea. This will let you know if the offer is reasonable.

One major benefit of a pawn shop is that you don’t have to permanently part with your gold jewelry if you don’t want to. The money is also available immediately. If you pay it back in a timely fashion, you get your jewelry back. This is a pretty easy and reliable deal if you’re just looking for quick cash.

On the other hand, pawn shops aren’t jewelers. You’re unlikely to get top dollar for an exquisite piece of jewelry. The more complex or unique the gold jewelry, the more likely you’ll be happier with a jewelry store.

Selling Gold

As mentioned previously, gold buyers focus on karat and weight. A dedicated gold buyer follows the market. This means you should do your homework beforehand. Gold markets fluctuate just like stock markets do. Waiting a week or two to sell your gold could benefit or hinder you. Getting an initial appraisal is still a good idea.

Jewelry stores want to resell jewelry to make a profit. Obviously, this means you won’t be offered a retail price. It’ll be closer to wholesale. However, an exceptionally complex or rare piece of jewelry will likely fetch a higher price. A good thing about working with jewelers is that they typically have a certified gemologist or another certified appraiser on staff. They’re experts at judging the quality of jewelry.

A gold buyer online or a local gold buyer in your area will primarily focus on the gold itself. If you have a gold chain, necklace, or bracelet, this is fine. The weight and karat matter more than anything else. While it’s still worth keeping the market price in mind, the process of appraisal is far simpler. However, once the item is sold, you won’t have the option of buying it back. Once your jewelry is sold, it’s gone for good.

Deciding

There are a few major factors in making the right choice. Are you simply selling gold or jewelry that has gemstones? If it has gemstones or other metals included in the piece, you want someone who can appraise it accurately. You should also consider whether or not you’re going to want the jewelry back. If so, selling it really isn’t an option. Always compare prices to determine the best deal. Online calculators aren’t as accurate as professional appraisals, but they can at least give you a ballpark number. Watch the market and stay informed.

Selling gold in Atlanta doesn’t have to be that difficult. Contact Elan Diamond Group at 404-948-3613 if you’d like to learn more of if you need an appraisal.