When you are trying to choose the right Gold Buyers in Chicago, you might initially find the whole thing overwhelming because there is so much choice out there. Not only does it seem like every street corner has a store, pawn shop, or jewelry store that is buying and selling gold, but you will also see those television commercials that offer to buy your old gold pieces and jewelry. How do you choose? Well, it should start with a little bit of research into the stores in your area of Chicago.
First, you want to find Gold Buyers in Chicago who are up front about their pricing policies. Ask them how much they are buying gold for right now. The price will vary day to day based upon the current gold market pricing, but a good gold buyer will be honest with you and tell you how much gold is worth at this time. You will also want to ask the gold buyer about the different prices for different types of gold.
Obviously, 24 karat gold (pure gold) is worth much more than 10 karat gold, but you want to get the current values on every type of gold you have so you can do some comparison among buyers in Chicago. Choose a gold buyer who is not taking a huge cut of your profit. Naturally, they will need to pay you less than the exact current market value since the buyer has expenses to keep the shop open, but don’t be taken advantage of by a buyer who is paying unreasonably low amounts.
Gold Buyers will also usually be willing to explain their gold testing and weighing process to you. Depending on the buyer, they will do a gold test to determine that the metal is real. It may involve scratch testing or it may just be a quick chemical solution test, but this is a necessary part of any gold buying process. Just because a gold piece may be marked “14k” does not necessarily mean that it is! Once the gold buyer verifies the gold is genuine, they will weigh it and give you a price based on that. Remember that the weight of any stones will be subtracted from the total weight. While some stones (diamonds for example) are worth money on their own, many semi-precious ones are not.
