In 1912, J.P. Morgan, the founder of one of the world's biggest investment banks, once said the following:
"Gold is money. Everything else is credit."
Today, this statement remains true, even though the financial system has changed beyond recognition. Gold has been money for thousands of years and will remain so, regardless of market turmoil or central bank action.
Arguably, gold is more important today than ever since the 1970s. Holders of the precious metal see it as a way to protect their wealth while making a healthy return at the same time.
But how, exactly, can you get cash for gold? That's what you're about to find out. This post discusses our simple process for selling your gold, where our prices come from, and where you can go to get an offer.
Getting Cash For Gold: Our Process
At American Gold & Diamond Buyers, we make it easy to get cash for your gold. Here's what to do:
Step 1: Make An Appointment Or Walk In
If you have gold to sell, you can bring it to one of our stores at any time for a valuation and cash offer. There is no requirement to call ahead.
However, if you want to make an appointment, you can. This way, you can get a dedicated team member to immediately process your cash for gold sale, avoiding waiting around.
Step 2: Show Us Your Gold Or Valuables
Next, show us the gold or other valuables containing gold, diamonds, and other precious metals you'd like to sell. You do not need to prepare items in advance; it doesn't matter if you don't know the weights and sizes. Our team can thoroughly categorize your valuables for you.
Step 3: Get Your Cash Offer
Gold buyers will then examine all your items and estimate their value.
This process is usually relatively simple for selling gold bullion or coins. Our team will perform quick checks to ensure that items are valid.
Our analysts will conduct a more thorough investigation if you are selling jewelry, scraps, or other non-standard items. Their goal is to accurately evaluate your items so that you can access a fair price.
Once they finish their work, you'll receive a cash offer. This figure is how much American Gold & Diamond Buyers are willing to pay for the gold in your possession. The offer's value depends on the current market price of gold (which we discuss below). If the prevailing market price is high, our offer will be high, and vice versa.
Step 4: Get Paid
The last step is the best: getting paid. We'll exchange your gold for an equivalent value in dollars. You can either accept cash payment or, if you would prefer, we can write a check.
Our existing customers love the speed of our service. We already have many five-star reviews from customers who've sold gold to us in the past. It's an easy and quick way to get extra cash when you need it.
How Much Cash Will You Get For Your Gold?
Markets price gold according to weight. The most popular unit is ounces, but you can get paid in grams and kilos depending on how much you want to sell.
The market price of gold varies considerably from day to day, reflecting market conditions. In 2022, the price ranged between $1633 and $2,058 per ounce. However, it could break out of this band in 2023 and in the years to come.
Gold prices reflect the price per weight unit of pure 24-carat gold, sometimes called the "spot price." Most physical gold, including coins and jewelry, is alloyed gold and contains a percentage of other metals. Manufacturers do this to give items greater strength (pure gold is soft and prone to damage).
If you want to sell gold, such as a wedding band, you will get paid for the gold content, not the gross weight. Jewelry typically comes in 10k, 14k, 18k, or 22k. The brighter and yellower the color, the higher the amount of gold it likely contains.
What Is The Spot Price Of Gold?
The spot price of gold is the price at which a given quantity can be bought or sold at a particular moment. It differs from the future price of gold, which is the price of gold delivered to investors in the future.
At American Gold & Diamond Buyers, we offer prices for your items linked to the spot price of gold. Spot price quotes are taken from the New York COMEX, one of the largest gold exchanges in the world.
Please note that you will not get paid the spot price when you sell your gold. That's because local gold buyers require a fee to cover their costs (such as refining gold jewelry back into pure gold and running their premises). Hence, your price will be slightly less than the market rate.
However, if you choose American Gold & Diamond Buyers, you will get a highly competitive rate due to how we operate. Our low commissions are one of the reasons why gold sellers come back to us, time and time again.
Choose American Gold & Diamond Buyers To Sell Your Gold
Selling your gold for cash online comes with a host of risks. You never meet the buyers, and you have to put your high-value items in the post, which isn't ideal.
With American Gold & Diamond Buyers, though, you avoid these issues. Just bring your items to one of our local outlets for an assessment. Then get paid immediately for your items to spend on the things you need. Unlike online services, you won't have to wait several days for the money to arrive in your account.
Get cash for gold from American Gold & Diamond Buyers today by getting an offer.