Selling Gold Undercover - Who Gives The Best Price? 

He didn’t force so he didn’t lie. He just gave a grimey offer.

Rule#1: Never let people walk off with your gold.

Sell it to a refiner period, should get up to 97% of spot

Your best shot is a local coin dealer. When a dealer ships off all his unuseable "scrap" gold, they have to pay to ship it, and will not receive anything close to the gold content. The scrap has to be assayed and melted into bars that can be use to make new gold jewelry. So anything over 75-80% is fair. Weigh your scrap gold with a precise gram or dwt scale. Gold coins made by a government sell for close to bullion value, or more, unless damaged.

Anytime you are selling something, you have to know what it's actually worth. Otherwise assume you're going to get ripped off.

It's not difficult, most online bullion dealers have continuous updating prices, many price per gram on the regular gold alloys. All you need is some cheap digital scales and a magnifying loupe Weigh each alloy category separately and bag it. When you visit your local or visiting gold 'merchant' you will know the weight and how much for each weight.

I love how they cleverly add "This is worth"... Places like that always say that. It makes me so mad!

There is no such a thing as " old gold " you never sell to a pawn shop always to a smelter.

Great investigation

Great advice!

Gold jewelry is usually overpriced as soon as you buy it, especially when bought new. Gold bullion is usually traded at current spot price because of its purity. Jewelry is usually made at 10k to 18k although there is jewelry made with up to 24k it’s not common for everyday use. This report left out what purity the jewelry was made of and not every gold buyer will offer you a fair price. The content of the gold in jewelry is key when selling jewelry, I would not take anything less than 90% of its weight in gold at spot price. Like with any purchase you intend to resale at a later date consider the resale value before buying. Definitely some shady dealers here but it’s up to you to shop around for a fair deal.

It's not too difficult to educate yourself. Gold has a fluctuating global spot price at any time. For instance, now it's about $1,960 per troy ounce. There are 31.1035 grams in a troy ounce, in case your gold is in the form of jewelry or grams (as opposed to bullion and coins in ounces). By doing some simple math, you get the spot value of gold in grams, which is about $63 now (bearing in mind that this number changes literally every minute of every day, though it rarely fluctuates more than $30-40 per day per ounce -- though sometimes it can). Then you weigh your gold. If it's 24K gold, then the calculation is simple. The weight of the gold (whether in grams or troy ounces) multiplied by the spot price. If your gold is lower than 24K, like 18K, that would mean that your gold is 18 parts out of 24 parts gold, and 6 parts other metals. Or if it's 14K, then it's 14 parts out of 24 parts gold, and 10 parts other metals. So, let's say you have an 18K piece of gold jewelry that weighs a total of 1 ounce. 18/24 = 0.75 = 75%. Since the whole piece (gold and alloy) is 1 ounce, the pure gold in it is 75% of that 1 ounce. If spot price is $1,960 per ounce, you multiple that by 75% and get $1,470, which is the actual gold value you have. Now, the kind of gold you have makes a difference as well. If you have it in the form of jewelry, you will never get paid full spot price for it. In the best case scenario, you might get paid 90% of it's market value, though less is common as well, like 70-80%. I think anyone who'd try to pay you less than 70% would be ripping you off. So, at 70-90% of $1,470 you can reasonably expect to get about $1,029-$1,323 for it. On the other hand, if you have gold bullion, you should usually be able to get full spot price for it, or at least almost full spot, and in some cases a bit over spot. If you have a 1oz gold bar, or 5oz, or 10oz, which is 24K pure gold, you should be able to get 99%-100% spot value for it if you go to sell. The smaller size you sell, the more likely you'll get that 100% rather than 99%. Putting aside collectibles (which are valued by their rarity as a collectible, more than just by their gold content), certain gold bullion has higher value. For instance, if you want to sell back a 1oz American Gold Eagle, which would have a spot value of $1,960 by the current price, you may get $25 or so over spot when selling it. Or if you have a 1/10th oz American Gold Eagle, you may be able to get 3-9% over spot when selling it. The 1/10th oz would have a spot value of $196 (1/10th of an ounce), plus 3-9% would bring it up to $201.88-$213.64. That is why these coins cost more to buy than other bullion. They are easier to sell and you get some of your premium back on top of getting 100% spot price for them. You also have to be mindful where you go to sell. Authorized bullion dealers will usually give you the most for them. If you walk into a jewelry shop, on the other hand, they might not be willing to pay you 100% spot even on an American Gold Eagle, since they deal in jewelry rather than in bullion.

Words, however kind, can’t mend your heartache, but those who care for you share your grief and wish you comfort and peace of mind. My condolences.

Melt it down and you'll get 95-98% spot price at most refineries.

Pown stars 250,000 gold coin from 1617 the best I can do is 1500

Very sneaky greedy people

That is the major most problem here with the sell of gold! I have pure100% gold bars and I am personally afraid to go and try and sell it here! Mainly because the shops won’t give me nowhere near what the actual price that it is worth!

I have been enjoying your insightful videos very much. Most oscillating indicators are historical, so, in your opinion what are the best leading indicators that you use? Silver price? gold and bitcoin trade,

It's a good idea to research for yourself what you have otherwise some shyster may low ball you.

As a gold&silver junkie I can say that I’ll pay you 90% for your scrap gold 😊

They should be giving customers the exact spot price. They make money through a bid offer spread

I have sold m Jewelry on 47th St in New York. I know I totally got scammed. I needed the money. Once you hit the street they all call one another and let them know what you have for sale. They all agree to low ball you. I went to some places and they already knew I was coming. Still looking for a place to sell my gold. i don't want to give it away.

I have 600 grams of 10K gold I wanna sell and it isn't easy because it is jewelry and not many people have that kinda money and I refuse to accept low ball offers

Imagine how much that one store over charges.

Wow thank you so much. Too sad that there are people out there that Rent nice

Hahaha, the pos two-step. "I swear on my mother's soul, we would never do such a thing. Oh, you have video of us doing that exact thing? Get out!"

Sometimes it's just a buyer's market.

good report the rip off artist needs negative comments on their site.

Travelling gold buyers most are scammers ( ( we have them in the U.K. ) don't use them

Jewelry, they are Crocs.

because the jewelry is not 100% gold, they mixed with some types of metal to make it stronger, maybe 18k gold, 14k gold, 10k.....24k gold is softer and easy to bend. lower price for reasons

I CAN BEAT ALL THESE OFFERS

Good journalism

Mirrabella is the best honest guy around

We got gyoed each time n Chicago coin places we live here Horrid.

Caveat emptor - Buyer beware. Before selling gold know how to value the different grades, 10k, 14k, 18k, 22k, etc. There are plenty of places on-line where you can get information. Personally, I only deal with a local god/silver/numismatic coin dealer who offers a reasonabLe price.

Alot simply take advantage of ignorance and or desperation levels

I want to buy and sell gold jewelry locally and give people 100% gold value and resell a couple hundred bucks above gold value, because well its a jewelry piece, what do you think?

As the news keep putting this info out there , expose these bad biz liars tell the people so they do not shop with these people . Put them out of biz

Wow 😮 🤔

Uk old money Bound and pannyes. I London money shops

When you value someone's gold it is costing the store time & money if u don't go ahead with the offer. So you can understand why a more independent stores don't have the time to write down the price of every piece of item.. but I do think he should of said what's real and fake but they never forced the journalists to do anything so they are putting a bad reputation on a poor store

If they charge to test, it helps keep them in business and tests the seller for fraud.

I'd be extremely interested in where all that gold will end up.

U wanna try selling gold in England it's a lot worse ,never sell to here today gone tomorrow types,in the old days they be known as claim jumper's 🤔

just sell it to Rick

A jewelry store up in Alaska tried to sell me a fake Rolex.

I once took gold nugget weighting 9 ounces to a pawn they offered me $9,000 cash😂

In 2021 these dealers are gonna go broke if they keep trying to rip customers off

Local news talking about selling gold. How log before they start talking about BUYING gold? Probably be soon.

Selling gold...you are in the hands of the Philistines.

today 14 March 2019 , our company is willing to sell a 1kg for $30,000 high quality

I'm selling gold with 22k at 35,000$

I wouldn’t want to deal with those people and they could rip you off so easy.

Scammers everywhere 👺

I have a standing order to all my employees to purchase 14k and above at 90% Under 14k, varies from 75-80% of pure-weight-value To all who are in the selling market, feel free to dm me for availability and appraisals.

I’m a jeweler and we pay 70 percent on jewelry, if it can be resold, 100 percent. It is tiresome when u have repeat people who never sell, just act like they do as they want a free evaluation and your expertise to run a side hustle of their own. After 3 visits, we start charging them to test.

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Melt it down and refine it you will get 100 percent of its value

nice 😂❤

They just buying from drugies

Crooks!

Ask what their payout % is up front. This clues them onto you as more informed than average Joe. You will always find a better price if you take the time to seek out a refiner and not sell to these middle men.

Do your homework rule #1

SILVER AND GOLD AN INSURANCE POLICY? Since gold and silver is just an insurance policy, and meant to be kept for when things get better…I think there will be a lot of people who will starve to death with a safe full of gold and silver. For those people who want to invest in gold or silver, I would wait until the famine gets so bad (and it will) that you will be selling your gold for a can of beans. I will be able to sell my beans (which cost me $1.00) for an ounce of gold costing you over $2000 today. A woman in Argentina (which has high inflation), was only able to buy 2 tomatoes which cost her $33.00. Another woman had to sell her gold and jewelry and was only able to buy 2 eggs, 2lbs of flour and a small bag of corn meal. In Lebanon the average salary was $1000, now that amount is only worth $50.00. This is where we are headed folks.

Get all the rip off shops

Wow 86% is what dealers usually gets! So he gave you dealers prices. Between 60 and 70% for the general public is the price you usually get.

All scammers fly by night

I need to get customer for gold I have 91 kg

Always crooks, so I always shop around.

DON'T GO to Millbrae

I know dealers that will pay 96% for gold that they will have to MELT.

Old gold 🤣🤣🤣

Way too many shysters!☹️☹️☹️

I actually dont agree with this news video at all. First of all, if you go into a dealer uneducated and without knowing what you have. If you do, you deserve to be ripped off. We live in a time where you can learn just about anything you want by typing it into a search engine. You can find so many sources of information about how to sell jewelry. And when you walk into a place that gives you a lowball, you can negotiate with them. The fact that you are bad mouthing these businesses is a disgrace on its own. Someone should do an investigation on this news station and find out how much of their news is junk.

Don't sell your gold people.

what about selling gold coins do these shilocks rip you off again too?

The sellers won’t buy their own shit.

I can't. Wait to go dare dare for my. Birthday bit I am going to adventuredom with Mommy and dad and I'm going to that place to spend all my money 🤑☃️😍🤗🤗😋🥰🥰🥰🥳💯💯😂☺️☺️❤️🤣🎤🤑

Jewlers need to make money too

The problem when buying gold in the US is that organized gangs are mysteriously informed and pay a visit to your home (home invasion). Every 15 seconds a home burglary occurs in the United States. This means that approximately 4,800 burglaries happen every day. Another problem that many gold owners report is that if you want to sell your gold as a private person, you are currently being scammed everywhere. Often you only get half the price of what you paid for the gold.

The sellers are the bigger crooks

Gold is a scam...you are not gonna get any ways close to its "value"

Last one was a shite hawk

I would predict that Asian shops always offer the best prices for your gold.

Let’s be honest, you’re going to a quick cash buy out, they’re always gunna low ball

He didn’t “force” you to do anything. He simply didn’t offer his professional services for free. To get an accurate value of an item takes knowledge of the item and market, his time and knowledge aren’t free. Such a sense of entitlement to others labor.

The interviewer stated a falsehood...the man was correct ...he DID NOT FORCE anything, they asked.

Deal with Asians not Jews got it

It seems that the Caucasians was the only one trying to get over on them

Imagine spending money on something as useless ass dirt

these guys are all crooks