Mills Jewelers and Loan is the best place to sell gold in Ventura County. We buy gold on a daily basis. If you have gold or silver, coins, gold watches, or other gold jewelry, come in today to receive our top dollar offer for your gold or call now 805-987-0436.
One of the most frequent questions I get every day is – “how much do you pay for gold?” Most people think it’s a simple answer but its not. There are a lot of factors that go into appraising the value of a piece of gold or silver jewelry.
Did you ever see the television show Pawn Stars?
You may have seen the television show “Pawn Stars.” The star Rick Harrison always tells people trying to sell him things that he does not pay “retail” for items. He is not a collector. He is buying and purchasing items, including jewelry, gold and silver, in order to re-sell it.
Mills Jewelers & Loan is also not a collector of gold and jewelry – though as jewelry aficionados, we may covet and hold on to vintage and estate jewelry much longer than we should.
However, we are primarily in the business of buying and selling jewelry and/or offering short term collateral loans. As such, like Rick, we cannot pay retail.
Bottom line – we will offer you the most we possibly can so that you feel good about working with us.
GET A QUOTE ON YOUR GOLD OR SILVER
How much do you pay for gold?
How much we pay for gold varies greatly.
There are websites that track gold, silver and platinum prices. The main one that we use is called Kitco. Kitco has an app or application called Gold Live! that I have on my mobile phone. It gives me a quick way to find out how much gold is selling for at that very moment.
The view on Kitco at any given moment looks like the photo to the right. It tells you how much the current bid and asking price is and how gold prices have trended in the past 30 days and the past year.
Know however that this Kitco bid price is based on the price of 24 karat gold (24k). 24k gold is the nature of gold when it comes out of the ground, so to speak. We don’t see that much 24k jewelry because its more expensive and very soft.
Most gold jewelry is made of 14k or 18k gold. This is gold that started as pure 24k gold but alloys were added to it in order to bring down the karat and to make the gold harder. This type of gold is then used to make jewelry.
If you bring us 14k or 18k gold, the value of your gold as set forth on Kitco is reduced by a significant percentage to account for the reduction in karat of the gold.
In sum, we will review the piece, estimate a value of it today based on gold prices, and give you an offer as to what we would pay for it.
What type of gold do we buy?
Mills Jewelers and Loan is the best place to sell gold in Ventura County. Gold comes to our store in many forms. The most common forms are jewelry but of course we also buy gold bullion and coins. We have purchased and provided loans on jewelry including gold:
If your jewelry is vintage or estate jewelry, we may keep your jewelry and attempt to resell it. However, a great deal of the gold we receive is broken, worn down, and/or stones are missing. This type of jewelry is generally not resold as it is not worth the investment it would take to refurbish it. This jewelry we will often “scrap.”
Gold watches in particular have a quite a bit of gold but are often not worth repairing. For these watches, we will remove the movement and crystal and melt it down. Similarly, if the watch has already been refurbished and does not have the original movement, it is probably not worth repairing.
Many people when they hear that their jewelry is worth scrap value will not sell it as it has sentimental value. We are very respectful of your feelings and as such, we will never pressure you.
If you are searching for the best place to sell gold in Ventura County, contact Mills Jewelers & Loan at 805-987-0436. We offer free in-store evaluations of your gold, silver and other jewelry.