As gold continues to react to world events, more and more people will search for “price of gold” or “spot price of gold” in order to find the best deal.
But the price paid for gold on the mercantile exchange doesn’t indicate that you’re going to get a good price at a gold dealer or pawn shop or jewelry store.
If you want the best price for you gold, you should listen and look for the following: If you’re asked “What do you want to get for this, or what do you expect to make for this…” that’s often an indication that the vendor is looking to deceive you. There’s a chance they may not know the price, but it’s unlikely. Often dealers will determine your level of knowledge, then make an offer. They use this information to determine your expertise, then tailor their offer accordingly.
At pawnshops, the price of gold is immaterial. Selling gold in Houston pawnshops is a bit of a crap shoot. Sometimes the deals can be good, often times, they’re not. But the price of gold is almost never going to be the determining factor for your success at a pawnshop.
At a jeweler, the price of gold, often called the “spot price” of gold is more relevant. However, jewelers work from a retail price point, often marking up jewelry two hundred percent (200%). That’s why theyll often volunteer to discount something ten or twenty percent before negotiations begin. If something is marked up three hundred percent, it may seem like a great deal to get a discount, but it’s all smoke and mirrors.
So do you homework, shop around and go to Houston Gold Merchants and use the gold price calculator to figure out your gold value. We’ll charge you a fee to liquidate your gold, but at least you won’t have to guess what the price of gold is. If you’re selling your gold in Houston, know the spot price before you go.