For An Extra 2% On Your Gold – Print this Sell Gold Coupon →
You must bring this coupon to our stores to redeem. Your gold jewelry excluding the stones must be worth more than $200.00.
How To Sell Your Gold, Gold Jewelry, coins, & bullion?
Sell Gold at South Bay Gold – When you visit any of our locations in Southern California, you will discover how easy it is to sell gold, silver and/or platinum and receive a fair & transparent market price with immediate cash payment. From weight to purity to spot prices, we will explain the entire process from you thoroughly and transparently. Or feel free to read our articles below about How Gold Is Tested & What Items We Buy. And if you have any additional questions about our process, feel free to stop by or call any of our locations, and an associate will be happy to assist you.
How to Determine The Value of Gold, Silver, and Platinum Jewelry?
To sell gold, silver, or platinum, we carry out a straightforward process to determine the value of your jewelry or any item that has any precious metals content. There are four major points to keep in mind when we determine the value of your gold items.
- The “Spot Price” of gold, silver, or platinum is the current trading price of pure gold, silver, or platinum per troy ounce according to the front month futures contract. We update the Spot Price of all precious metals daily at 10:00AM, and for elevated periods of volatility we update prices twice per day.
- The exact weight of your gold, silver, or platinum. Pennyweight (dwt) and Grams (g) are the industry standard units of measurement of gold and other precious metals. There are exactly 31.1 grams or 20 pennyweights per 1 troy ounce of gold. Here at South Bay Gold, we use grams when weighing your gold as this weight measurement is much more straight forward and easily recognizable by clients. We more importantly will weigh your gold right in front of you so there is no confusion as to the exact weight of each piece. Note many other gold dealers will use pennyweights to try and confuse clients with the actual weight of a piece. This confusion in weight allows them to try and purchase gold for much less than it is actually worth.
- The karat (kt) or purity of your gold, silver, or platinum. Karat is the purity of the gold, silver, or platinum. 24K is considered pure gold or 100% gold. In the United States, most gold jewelry is 14K or 18K. 14K gold jewelry contains 58.5% gold content, while 18K gold jewelry contains 75% gold content. Sterling Silver jewelry is 92.5% pure silver, and Platinum jewelry typically comes in 95% purity, 90% purity, and 85% purity.
- Accent diamonds or precious stones in your jewelry. With accent stones, we will calculate the total carat weight of the stones, determine their overall quality, and offer to purchase the stones or pop them out for you free of charge.
Overall, it is always best to bring in your jewelry to determine an accurate weight, purity, and quality of any accent stones within the piece. While we can give estimates over the phone, we can only do so for jewelry pieces containing no stones, and with exact known weights and purities. For pieces containing stones, and/or have unknown weights and purities, it is impossible to give an accurate value over the phone.
If you have any questions about the process of selling gold, silver, or platinum jewelry, feel free to give us a call at any of our locations and an associate will be more than happy to discuss the process in further detail.