How To Avoid Buy Gold Scams in Kansas City

Cash for gold stores in Kansas City are not always what they seem. Many of these we buy gold businesses try to gouge consumers by not offering fair prices.  What’s worse, many new gold buyers move around. They open temporary stalls at events or private parties then move on after purchasing all they can. This makes it difficult to track them down if something goes wrong.

If you are worried about getting involved in a we buy gold scam in Kansas City, here are a few tips from experts in how to avoid them:

Appraise Unusual Jewelry

Kansas City gold buyers offer scrap rates for gold; that’s it.  They offer you a price that is based on the amount of gold the piece contains and how much it will weigh when melted down. Gemstones and craftsmanship are not taken into consideration. So, if you have jewelry with gemstones or that is made by a well-known designer, you should take the piece to an appraiser.  It may be worth more as jewelry than it will be as gold scrap.

Evaluate Current Gold Rates

Every cash for gold business bases its buying prices on the current rate for gold. You can find this information, too, on gold investment websites and industry sites. Knowing the current going rate for gold will help you assess if you are being offered a fair price for yours. Remember that you won’t be offered the full price. The gold buyer needs to make its own profit, too. It is also beneficial to keep in mind that the gold market is based off of pure 24 karat gold while most gold pieces are 14 or 18 karat. This will also affect the price you are offered when you sell gold in Kansas City.

Review the Buyer

Above all, make sure you know who you are dealing with when you sell your gold. You can look at the company’s ratings with the BBB or at review sites like Yelp. Experts in the business also indicate that it’s best to shop locally, preferably at a permanent store that has been in business for some time, such as Waldo Financial. As a Kansas City we buy gold store, we have been in business since 1999 at 8437 Wornall Road. If you want to sell your gold in Kansas City, we’d like to help you. Come in or give us a call at 816-333-6800.

Don’t Be Disappointed Selling Your Gold For Cash in Kansas City

This describes selling your gold for cash in Kansas City. Understand what your gold for cash is really worth in Kansas City at Waldo Financial.

Even after avoiding the “we buy gold” scams and finding the best place to sell your gold in Kansas City, you might find yourself disappointed when an offer is made to buy your gold jewelry.  This most commonly occurs when buying broken chains or mismatched earrings. Many people are pleasantly surprised to find that their “junk” is worth something. But when hard financial times force you to part with recently purchased jewelry, you might feel that disappointment. This is avoidable if you understand the buying gold process and how it different than buying jewelry.

First, the jewelry business is different from the gold buying business. Raw gold is always valuable but as jewelry, its value is increased when paired with detailed design, especially if it’s from a known artist. The more work the designer put into it, the more you will pay.

Second, the typical jewelry store has a lot of overhead to cover, from pre-purchased stock to high-tech alarm systems to salespeople with the “right” look.  It isn’t unheard of to see 200% or even 500% markups to cover these costs. In this way, buying jewelry is like buying a new car. As soon as you leave the showroom, the value drops because much of it was simply a markup. As the car ages, the price again drops. And, if everyone is trying to sell their cars instead of buying them, the price will plummet.

When you sell gold in Kansas City, the gold is being purchased for scrap; not for jewelry. At Waldo Financial, we buy gold for scrap; not for resell.  Nearly every piece we purchase is melted down to its pure form. What we offer you is the value of the actual gold, not the value of the jewelry style or gemstones.

Should you blame someone for this?


But not Waldo Financial, nor the designer who only saw a small fraction of the price himself. The jewelry store’s high markup is the prime suspect for the price differential.

So, if you want to sell gold in Kansas City, remember that Waldo Financial deals in scrap gold. Waldo Financial will always give you a fair price that is, many times, 1.5 to 2.5 times that of our competitors. But it will always be based on the value of the gold, not the value of the entire jewelry piece.

If you have more questions or concerns about selling your gold for cash Kansas City, give us a call at 816-333-6800.

This described selling your gold for cash in Kansas City. Waldo Financial will purchase your gold for cash in Kansas City.

KEYWORDS: gold for cash kansas city