Tuesday, November 13 - You've probably seen their stores around town. The message is clear: "We Buy Gold." But how does it work if you have something to sell? Owner Behman Zakeri shows us.
Sell by pennyweight, grams, troy ounces, the dollar amount turns out the same. What you may be referring to is if someone is advertising a price per gram, but then they weigh your gold in pennyweight. That would be a red flag. Overall an honest dealer will pay the same if it's weighed in any unit of measurement.
Pennyweight is cheating you. Should be weighed by the gram. One gram of gold converted to pennyweight equals to 0.64 dwt. How many pennyweights of gold are in 1 gram? The answer is: The change of 1 g ( gram ) unit of a gold amount equals = to 0.64 dwt ( pennyweight )
Pennyweight is not cheating you because no matter how the gold is weighed, the payout will remain the same. If someone is going to pay you $100 for your gold and it weighs 2.5 pennyweight, then its $40 per pennyweight. That same item also weighs 3.88 grams so you'll get paid $25.77 per gram. No matter how you slice it, the $100 is the same either way, so it doesn't matter how the gold is weighed. That's like asking to doctor to weigh you in kilograms instead of pounds because you weigh less in kilograms. The unit of measurement doesn't matter, you're still the same mass.
SELLER'S BEWARE! ..... SHOP AROUND & COMPARE THE PRICES YOU ARE GETTING ..... FROM DIFFERENT DEALERS! IF IT IS A VERY EXPENSIVE ITEM ...... KEEP IT! ..... OR SAY THE POPE'S PRAYER ......... IN THE DEALER'S OFFICE! TIC ......
