Understand that gold quality varies depending on the karat, and that most gold jewelry is 10 karat, 14 karat or 18 karat, and not pure 24-karat gold.Cash Trade for Gold It is equally important to understand how the dealer is weighing the gold. There are two main ways that the dealer is going to measure the weight of your gold. The first one is grams and there are 31.1 grams per Troy ounce,. The other weighing measurement is called penny weight. Penny weight is abbreviated as DWT. There are 20 penny weight to a Troy ounce, and 1 penny weight is equal to 1.55 grams. Many dealers when asked how much they are paying per gram will answer in penny weight to take advantage of the consumer. Example: if company “A” is paying $18 per gram for 14K, then when called company “B” says they are paying $22 per penny. This sounds like a better price, however that works out to only $14.19 per gram. Divide the penny price by 1.55 to get the gram price ($22/ 1.55= $14.193) Shop around for the best price: Don’t be afraid to obtain a couple offers from different dealers before agreeing to a sale. We recently went to three other gold buyers in Fayetteville NC to show you the difference in payment. Here is what the earrings cost new, and what the dealers offered: Purchased for: $62 Assessed value of gold: $14.65 What did they fetch? Local pawn: $3.25 Cross Creek Mall: $6.76 Local Gold buying center: $6 Goldbuyerfayettevillenc.com: $9.75 You can see here that we are paying almost 31% more than other local buyers! Please understand we want you to shop around. Then you can see the difference for yourself! 311 Hay Street Fayetteville, NC 28301 (910)816-9414(910)816-9414
