I haven't sold any gold in a long time.
My recollection is that offers for gold are generally 97% to 95% (maybe down to 90%) of current spot price if the item being offered is easy, i.e. Krugerrands or some other commodity coin/bar.
For scrap gold or jewelry being sold for melt, an offer of 70% to 80% of spot is normal.
Well, I haven't found any business buying for more than 50% of current spot price.
This week, I was actually offered $600 for 167 grams of 14k gold! This wasn't a decision complicated by fasteners or mounted stones. It was literally 3 simple gold bangles.
Of course, that was a pawn shop. A local Goldweiser office offered less than 50% of spot.
Is there a business in or near Houston that buys for at least 70%?
Or has the world of selling gold changed so substantially over the last couple of decades that I'm completely off-base?
I'm confused. Obviously.
My recollection is that offers for gold are generally 97% to 95% (maybe down to 90%) of current spot price if the item being offered is easy, i.e. Krugerrands or some other commodity coin/bar.
For scrap gold or jewelry being sold for melt, an offer of 70% to 80% of spot is normal.
Well, I haven't found any business buying for more than 50% of current spot price.
This week, I was actually offered $600 for 167 grams of 14k gold! This wasn't a decision complicated by fasteners or mounted stones. It was literally 3 simple gold bangles.
Of course, that was a pawn shop. A local Goldweiser office offered less than 50% of spot.
Is there a business in or near Houston that buys for at least 70%?
Or has the world of selling gold changed so substantially over the last couple of decades that I'm completely off-base?
I'm confused. Obviously.