About selling gold, what you need to know!
Selling gold is just like any other recycling process, except you are dealing with a metal that is very expensive. It is a simple and straightforward process in which a price is calculated based on the amount of gold and the weight of that gold. The gold price as valued by the stock market reflects both the supply and demand for gold and the going rate. At times of economic turbulence, when investor confidence is diminished in risky stocks and bonds, gold is an asset with less risk, thus gold demand increases and prices rise. This is great for you as a customer, because you can sell your gold at these times when the price of gold is so high.
The testing of gold is quite tedious and requires a skilled professional to be able to accurately detect what type of gold, if any, your jewelry contains. Our jewelry appraisers are qualified first by becoming skilled benchmen and working with precious metals in jewelry design, casting, diamond setting, polishing, and finishing. We also use digital testing equipment which displays accurate readout information through a conductivity test. All of these factors work in your favor, so that you will be gaining knowledge of what you are selling most importantly, and that you will be given a fair offer for the total amount of real gold that you have.
After we take care of our service to you in evaluating your materials we form a payout amount based on the above factors of weight and purity. We pay set percentages and never attempt to manipulate customers with different offers because what we pay is very competitive, fair, and based on real gold prices. The payout amount 70% is a fixed percentage which can increase based on the overall quantity of gold being sold at one time. The 30% amount we retain is not necessarily in actual profit, rather this percentage mainly factors the inaccuracies of gold content for items which we pay out as 14 karat but are actually 13karat or less. Also understand that this allows for our ability to pay out cash, the labor and machine cost in refining, inaccuracies in gold testing and gold content, and gold stock price fluctuations.