Record gold prices in recent years led to the appearance of a multitude of companies promising instant cash for scrap gold. However, most fall short of their promises to pay customers the true market value for their unwanted jewelry. Many are going out of business due to lack of experience. At South Florida Coins & Jewelry you may be sure that you will receive the highest possible prices. We are a reputable, established company led by an owner with decades of experience in the business adapting to hugely varying gold markets.
South Florida Coins & Jewelry has established itself as one of the largest gold buyers in the Palm Beaches. Due to the high volume of product we trade we are able to consistently pay high prices. We are also able to work more closely with you the greater the quantity you have. Gold prices are extremely high and it is well worth bringing us your unused items to find out what they might bring. We buy all gold, silver and platinum jewelry. Our appraisers can advise you as to whether your pieces should be valued purely according to their metal value or whether they are desirable as jewelry. We can pay instant cash or check, as you prefer.
Calculating the Price of Your Scrap Gold
In order to determine the value of your scrap gold, we must first ascertain its karat, or percentage purity. We then weigh it in order to calculate the total amount of pure gold it contains. We can then use the current market price of gold (the “spot” price; or dollar value per troy ounce) to obtain your total. Gold jewelry is very rarely pure, as in its pure state gold is extremely soft. It is therefore combined with other metals, including silver, copper, nickel and zinc, in order to increase its strength and durability for jewelry manufacture.
The karat of gold typically used for jewelry varies from place to place around the world. Different countries adhering to different minimum standards. For example, in the US, the minimum legal standard is 10K, in Italy it is 18K, while in England it is only 8K. The table below lists the percentage gold content for the most common karatage of gold, with 24K being pure. We are happy to take the time to explain.
Silver and platinum are similarly combined with other metals when making jewelry. Sterling silver is 92.5% pure and platinum is typically 90% or 95% pure.
We are more than happy to test your jewelry for you and give you an expert, accurate evaluation. Feel free to stop in at any time during business hours for an appraisal. Take advantage of the opportunity to receive the best return in history for unwanted items. Broken chains, class rings, mismatched earrings and unused gifts lying neglected in a drawer can provide a surprisingly high windfall of instant cash!