How to Get the Most Cash for Gold in Chicago 

 January 30, 2021

By  Clark Pawners & Jewelers

Everyone wants to give you cash for gold in Chicago. Or at least, that’s what it seems like when you’re trying to sell your gold jewelry.  Because of this, you’ll come across everything from “We Buy Gold” places to gold buying parties and online gold buyers.

The issue with having so many options is you have no idea which is the best one. Worse, a lot of them will try to rip you off.

So, let’s start at the beginning. Don’t touch your gold without learning how to sell it first, courtesy of these tips from Clark Pawners & Jewelers.

Cash for Gold: 3 Things You Should NEVER Do

Gold prices are at a 7-year high, which means you can make serious money selling your gold right now. Don’t squander that chance— avoid these three things when trying to get cash for gold in Chicago:

·         DON’T send your gold through the mail.

This is the fastest way to get a bad deal! Any company that tells you to mail them your gold will either pay you pennies on the dollar or you’ll lose your gold completely.

·         DON’T sell to the first place you receive an offer from.

Next, shop around. You don’t have to accept the first offer you get. Or the second, or the third. In fact, you don’t have to accept any price you’re not completely happy with. You can only sell your gold once, so explore your options to figure out the best rates.

·         DON’T neglect your research.

Third, look up the current price of gold. For instance, visit different shops and gold buyers in Chicago to get a feel for how much cash for gold you can actually get. Know your item – how many karats does it have? Does it have any history that makes it special? The more you know about how to sell gold, the better the deals you can get.

Quick Tips for Getting the Best Price for Your Gold

Ultimately, the decision of where to sell your gold is up to you. But to make sure you don’t regret that decision, keep these tips in mind:

  • First, know your karats so you can make a smart decision on the scrap value of your gold jewelry.
  • Keep your karats separate as well. Only let buyers weigh jewelry with the same karat values. Otherwise, you risk getting paid for only the lowest karat value you have.
  • Research the value of your gold. Check various gold shops and buyers to see how much they’re currently selling gold for. Look up the current market price for gold as well. The more you know about how much your gold is worth, the better you can negotiate.
  • Finally, know your buyer. Check how long they’ve been in the business, what their local reputation is like, what tools they use to weigh gold, and how knowledgeable they are about the industry. Read their reviews. The best way to get top cash for gold is to work with a reputable gold buyer in the first place.

Want more tips on how to get the most cash for gold in Chicago? Drop by Clark Pawners & Jewelers, or call us to schedule an appointment.

Clark Pawners & Jewelers is your trusted pawn shop in Chicago. We buy and sell jewelry, diamonds, gold and more, aside from offering cash loans.

Clark Pawners & Jewelers

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