Gold buyers are everywhere now in Houston. They’re on every street corner and strip mall and you’ve got to wonder, where’s the best place to sell my gold.
I’d tell you this: Ask them what percentage they’re paying. Gold and Silver Buyers, one of the largest in the city, pays about 50% on the dollar. That’s pretty low. There are places in the city that pay better, and a few that pay worse, so you have to shop around. Ask them specifically for a quote, then ask them what percentage that is on “spot”. SPot price is the price gold is traded at on the Chicago Mercantile Exchange. If you google the “spot price of gold”, you’ll be able to figure out what percentage you’re being paid.
Or you can go to our gold estimator and get an idea there. This will give you the 100% price for your gold. You’ll still have to pay us the 25% or 30% fee for giving you cash, but you’ll be much better off than if you went to the big chain where you only get 50%…
If a gold buyer in Houston tries to buy your gold and talks to you about pennyweight, ask them to convert to grams. You should always do your transactions in grams. Any discussion that takes place in pennyweight is an effort to confuse you or hide profit from you.
It’s okay for dealers to make a profit, of course. But you can protect yourself against unscrupulous dealers by checking prices and