All That’s Gold

As part of our repertoire, Gold Party US frequently shops our competition to make sure we stay at the top of the price range.

Recently, a few of our secret shoppers went on the hunt again, and what they found would make you sick.

A national jewelry store chain, which shall remain nameless, with a few dozen locations throughout the US proudly exclaims on their website what price they will pay per dwt (pennyweight) of 14kt gold every day. Our secret shoppers went in to make sure they were true to their word and left with $3 less per dwt than the website claims!  They claimed to pay over $15 per pennyweight, but they only paid $12.50!

Apparently this store thought that nobody would think to double-check their math. We did, and we were astounded that any company would blatantly lie like this.

And this one store was not the only culprit. Several other stores and “party companies” did the same thing, quoting one price but actually paying another, much lower, rate.

At Gold Party US and Coughlin Jewelers, we welcome all questions and have no problem showing you every step of our gold buying process, including our prices.  While we often cannot give quotes on the phone, we will gladly sit down with you and your gold and show you exactly how an honest company operates.

Please do not hesitate to question those that you sell your gold to. If you ever feel pressured, you can get up and leave. Remember, it’s YOUR gold and you don’t have to part with it if you don’t want to or if you feel uncomfortable. Please feel free to contact us with any questions or comments you may have.

Your high school class ring, Great Aunt Harriet’s engagement ring or your first “real” piece of Jewelry.  In our daily travels we get many of these pieces presented to us. 

The first question to ask yourself is .. Do I really want it or is it a piece given to me and I will never wear it or pass it down.   In any event please do not feel any pressure when selling your old gold.  An informed and confident customer makes our job much easier. 

When the offer is made, take a second and consider what you are selling.  It is YOUR gold.  If there is a piece that you are not 100% positive on selling, take it back…We do not want you to have sellers remorse 2 or 5 days later! 

So have some fun, sell some of the old, outdated and UGLY jewelry you have collected over the years…but remember.. until you agree to sell it it is YOURS..

A recent conversation had in the produce section of a local, West Michigan grocery store reflects a concept commonly misunderstood in the realm of gold buying and selling: the power of weight and quality over brand and beauty.  

As a few customers crowded around a great display of fresh corn-on-the-cob, one woman commented on another’s lovely gold bracelet. “I had one like that a while back,” she lamented, “until I twisted the heck out of it!” Her comment led to a word or two about selling gold and how another woman felt her jewelry had been unfairly judged. A representative from Gold Party US had stopped to pick up a few ears of her own and heard the complaint. She asked the woman to explain her experience. 

“My husband took in our junk gold to sell,” she said, “and that included an expensive birthstone ring he’d bought me – it was still in the designer box.” While peeling husks, the disappointed seller explained that she’d never really liked the ring’s style, but she knew that her husband had spent a lot of money on it and had selected the ring based on its popular brand name. “For twenty years,” she reported, “I didn’t have the heart to tell him that I didn’t like it. But he knew, because I rarely wore it.” Consequently, the couple decided to include the ring with the junk items for sale.

“We were happy with the amounts we got for the broken chains and my mother’s single earrings,” she said, “but I expected more for the ring.” She went on to say that with the fashionable brand name, light wear, original box, and pretty gemstones, she thought the ring had to be worth more than the price offered. “My husband kept the ring because they were interested in the gold alone,” she grieved. The gold buyer asked if they’d been offered the gemstones back if they’d agreed to the sale. “Sure,” she said, “but wouldn’t it have been worth more to buy the ring in tact?”

The lady in the produce section was not the first to have asked such a question. In fact, such may be one of the most misunderstood concepts in the realm of gold selling today.

The Gold Party US buyer understood the woman’s concern. From the standpoint of today’s jeweler, she politely explained the difference between retail value and refinement value. She assured the seller that the gold buying goal rests not in retail and resale appraisals but rather in the weight and quality (14kt, 18kt, etc.,) of the gold for refinement purposes. The seller nodded. She got it. She recognized that the jeweler hadn’t meant to insult or minimize the ring’s original value – he simply wished to buy the gold. The ladies parted with smiles and many ears of golden corn.

Hands down, it is vital for sellers to recognize that personal gold items presented for purchase at jewelry stores and at gold parties are not judged in the same way they might be when displayed within a glass showcase. Toward a recycling and refinement objective, buyers understandably cannot base their prices with regard to their craftsmanship, design, wear, or brand name.  

At gold parties and on jewelry counters alike, as professional gold buyers pay cash for your old and unwanted items, they do so by treating each piece equally, whether it’s gaudy or gorgeous, all the rage or just plain outrageous. And frankly, that’s a really good thing because the majority of the gold jewelry submitted for sale doesn’t dazzle and some of those old styles can be a bit, uh, corny!

If you’ve got gold to sell and you like working with honest, everyday folks that will take the time to explain the process to you (even in the produce section!) please seek out a professional and personable  gold party company like Gold Party US.