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Looking Out 4 You: Get More For Your Gold
POSTED: 5:18 pm EDT July 3,
2008
UPDATED: 12:24 am EDT July 4,
2008
GREENVILLE, S.C. -- The ads are everywhere. Jewelers and pawn shops are looking to buy your gold, and promising to pay top dollar.And why not? Gold prices are at a 25-year high. An ounce of pure gold is trading for more than $900."Your gold's worth more. You're going to get more dollar-amount," said John Head of J.A. Jewelers in Greenville.
But as News 4's Tim Waller learned first-hand, different stores offer different amounts for the same piece of gold jewelry.Head loaned Waller an antique gold bracelet, valued at around $220. This was on a day that an ounce of pure gold was trading for $888.The following day when gold jumped to $911 per ounce, Lou Lopes of Paradise Jewelers on Woodruff Road offered $285 for the same bracelet."This obviously has more weight than most," said Lopes. "Most bracelets like this are not that heavy."But the next day, when gold jumped to $926 per ounce, Ashley Clark of Gold Collections in Simpsonville offered only $150 for the bracelet, the lowest quote so far."We offer the customer a price," Clark said. "And (customers) will go to other people who also buy gold, and sometimes they come back to us and sometimes they don't."Waller also took the bracelet to Greenville-area pawn shops, and received a wide range of offers.Luthi's Pawn offered $320 for the bracelet, which was the highest offer of all. First Cash Pawn, across from the News 4 studios, offered $220, while another First Cash Pawn store offered $200. Cash America Pawn offered $245, while Dollar Man Pawn offered $280.So how much was the bracelet really worth?"Joe Smith down the road may give $5 a gram. And you might have someone else giving $6 a gram or $8 a gram," said John Head.Head said customers who hope to sell their jewelry are often confused about its gold content."I've just seen $900 an ounce and thought, well, I've got an ounce of high school rings, that's going to be $900. That's not it," he said.Still, Curtis Sparks of Greenville was pleased with the offer he received from Paradise Jewelers for his gold figaro neck-chain."It was worth about $315," Sparks said.Links:Check today's current gold price:Gram or penny weight?Gold-selling Tips:
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