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.

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