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Sell Gold Before Gold Bubble Bursts?

August 25, 2011 by Administrator · Leave a Comment 

Gold PricesHave you been waiting to sell gold in San Diego, expecting that gold prices are just going to continue to rise? You might want to think again. More and more analysts are predicting that we are in a gold bubble that is about to burst. Read more

Quick Tips: Getting Cash for Your Gold Bling

August 5, 2009 by Administrator · Leave a Comment 

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Cash for gold isn’t just a hot trend in San Diego. Shoppers around the country have been trading in their gold bling for quick cash. In an article recently published by The Denver Post, the newspaper lists the following tips for when selling your gold jewelry:

—Unless the piece is of a high-quality maker, such as Cartier or Tiffany’s, you’re looking at scrap gold pricing. Forget what you paid for it.

—Remove gemstones from your gold jewelry unless they’re too small to sell separately.

—Know the price of gold the day you’re going out to sell. The New York gold markets close at 1 p.m. Pacific time, so sell your gold in the afternoon.

—Weigh your gold jewelry in bulk. Keep similar karat gold together. You might get a better price.

—Do the gold math. Know the 100 percent value to see if offers are fair to you.

—Get gold buying offers from several stores, whether jewelry or pawn shops.

—Avoid online gold buyers. Unless you’re selling in high volumes, you’ll not likely get a better price.

—Never let strangers view gold jewelry at your home. Consider a bank and safety deposit box for security.

—Walk away if you don’t like the gold buyer’s offer. Gold is constantly on the move.

Gold Buying Parties

March 25, 2009 by Administrator · Leave a Comment 

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National Jeweler reports that the tough economic times, in combination with high metal prices, have people around the country gathering at gold parties to sell their old gold jewelry.

Folks in the media have been comparing the gold-buying parties to recession-era Tupperware parties, resulting in cash for participants, who are choosing to clean out their jewelry boxes as the price of gold rises above $900 an ounce.

According to news reports, the parties begin with guests bringing unwanted jewelry, watches and coins to a host’s house. The host, with the help of companies that are mining the trend like MyGoldParty.com, the Gold Refinery and Nassau Buyers, then tests the gold content and weighs the items, and pays out a certain percentage to guests based on the price of gold that day.

A percentage also goes to the party host, the party representative and the refinery that eventually ends up with the gold and melts it down, according to news reports. In addition to much-needed money, the parties also provide a safe haven, and a social outlet, for consumers looking to cash in on high gold prices but unsure about entering a jewelry store.

According to an Associated Press report of a gold-buying party held in Granby, Conn., one participant said, “It’s terrific because it’s a little bit intimidating to think about walking into the jewelry store, even though they may be heavily advertising it, and, you know, to someone that you don’t know and turning over your valuables to them.”

While gold parties can indeed be fun, San Diego consumers should be aware that the buying offers you get at such parties will most likely be less than at a reputable San Diego gold buyer, since the person who is throwing the party is taking a percentage off the top, which means less cash in your pocket.

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If you decide that a gold buying party isn’t for you and you plan on approaching a San Diego gold buyer with your gold jewelry, then you want to be prepared. Before going to a potential buyer, read this article: 7 Questions to Ask Your Gold Buyer

7 Quick Questions to Ask Your Gold Buyer

March 25, 2009 by Administrator · 1 Comment 

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San Diego Jewelry Buyers has announced the publication of a new education article appearing on their online Knowledge pages for consumers wanting to sell gold, fine jewelry, diamonds, and timepieces. Titled “7 Quick Questions to Ask Your Gold Buyer,” the article intends to help consumers avoid many of the pitfalls that have been recently documented by investigative news programs, where gold buyers have been engaging in dubious practices to buy gold from sellers for far less than what they deserve.

“Over the past year, there have been literally hundreds of new people and companies getting into the gold buying business,” says Alan Blyler, a spokesperson for San Diego Jewelry Buyers. According to Blyler, while some of these gold buyers are upstanding and follow industry accepted practices, many more, especially some of the big online outfits, are engaging in practices that long-time gold buyers do not support.

For example, some gold jewelry buyers immediately offer a customer a higher amount when he or she rejects the company’s first buying offer; and then a higher cash amount again when that person rejects their second offer. “An upstanding gold buyer will give you their best buying offer right from the start. Period,” says Blyler.

One sample from San Diego Jewelry Buyers “7 Quick Questions to Ask Your Gold Buyer” is the following:

How much are you paying per gram today for 14 karat gold (or 10K, or
18K, etc.)?

CORRECT ANSWER: According to today’s market price of gold, we are paying ___ per gram for 14K gold (or 10K, or 18K, etc.).

REASON: Some gold buyers will use deceptive techniques in order to get you into their store. For example, they might say, “Today’s gold price is ___ per gram.” Then when you come in they will explain that the price they quoted you on the phone was what they sell gold for, not what they buy it for. They do this in hopes of capturing a certain number of people who will still go through with the transaction despite the “misunderstanding.”

To read the rest of SDJB’s essential questions to ask a gold buyer, please visit their website at: SanDiegoJewelryBuyers.com

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Looking for more information about people’s personal experiences with gold buyers, and why you should compare before choosing one? Then check out this good news article: It Pays to Compare Gold Buyers.

Is Gold Going to Become a Mania Asset?

February 25, 2009 by Administrator · Leave a Comment 

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Steve Ellis, a manager of RAB Gold Strategy, is reporting for Yahoo News that the US Federal Reserve has flooded the market with liquidity by more than doubling its balance sheet in less than six months. This means it may be unable or unwilling to withdraw it in time for fear of precipitating a secondary relapse in economic activity. Meanwhile other central bankers are predicted to face intense pressures to “support” their domestic economy by weakening the currency, leading to competitive currency devaluations. Read more

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