Selling gold is an option for those who need money quickly or for those who tire of seeing old, unworn pieces of jewelry lying around. The price of gold always fluctuates and when you sell your gold you’re going to be offered a rate lower than what the pieces are valued at in order for the purchaser to make a profit. Despite this, selling gold items remains popular. There are many Chicago area gold buyers and if you want to sell your gold in Chicago, here’s how.
Check the value of gold.
- Before setting out to sell your gold, check a trusted online source to see what the market value of gold is for that day. Realize that you’re not going to get that price when selling your gold but it will give you some idea of its worth.
Find a reputable dealer.
- There are many companies that buy gold through the mail but these should be avoided as you have no control over the process. Instead, look in your local phone book yellow pages for a jewelry store, jewelry repair store or even pawn shop in your neighborhood. Chances are good that they’ll purchase your gold and at a much better rate if the transaction is in person. You can also find buyers who actually will come to your home, or you can even set up a local party with neighbors and friends. Then earn commissions from the party, as well as selling your gold.
Get a quotation.
- Take your gold to the dealer and let them look at it and weigh it. They may need to test for the quality of the gold. Ask them for a quotation in writing and be sure that the expiry date of the quotation is evident.
- Visit 1 or 2 other gold purchasers in your Chicago neighborhood and see if they will beat the quotation you received. Ask them for a written quotation with the expiry date clearly printed on it.
- Once you’ve visited 3 or 4 gold purchasers, look at which buyer offered you the most money for your gold. You should sell your gold to that person. Make sure they give you cash for your gold or a bank certified check or money order.
We buy gold in person in our Skokie store, Monday to Friday from 11am – 6pm Saturday 12-5. You can call to set up an appointment or walk in, calling is better sometimes. We buy all gold 10k, 12k, 14k, 18k, 22k, 24k gold and are also a refinery and we pass the savings to you. We buy all gold jewelry from jewelers, retailers, dentists, pawn shops and the public.
Selling gold and other precious metals in the Evanston area has never been easier, we have the best gold refinery in Chicago and always take pride in our services in offering highest cash prices for gold and other jewelry. Just come in and see what we are all about!
Now is never a better time to sell your gold for cash, gold has risen back up in price and now is a great time to cash in and sell your gold, we pay top prices and look forward to have you as a client. Please call today for a quote or to set up an appointment.
We also serve other wholesalers and retailers that buy gold and pawn gold in bulk, and when it is time to sell you can come to us and get the highest prices paid for your gold guaranteed.
So when you are looking for the best place to sell your jewelry to in the Chicago, you can count on Oakton Coins !
We buy coins, broken jewelry, good jewelry, bullion bars, and 90% silver coins.
We purchase gold jewelry, coins and bullion bars. (some coins have a higher collector value)
We will offer a price depending on the spot price for the metal. (metal prices on market demand)
We try to pay cash but may have to pay by check. (Depends on transaction size.)
These days everybody is trying to get in on the We Buy Gold act. In Chicago gold buying has reached a fevered pitch with customers going from Chicago store to store looking for the best gold and diamond prices.
In Chicago, many customers have decided to get the very best gold and diamond prices, they travel from Chicago to Evanston and Oakton Coins & Collectibles, whose been buying gold and diamonds for over 40 years.
Here the Chicago customers are finding that there gold and diamonds and estate jewelry are bring equal to Wilmette prices and in most cases significantly more.
Chicago is a beautiful lake side community, but these days many shoppers are taking their gold, diamonds, estate jewelry to Oakton Coins & Collectibles, and Oakton Coins & Collectibles can pay top prices to Chicago customers because they refine the gold themselves and reuse it.
Next time your in Chicago with you gold, diamonds and estate jewelry, try going to Oakton Coins & Collectibles for best prices, we are just a few miles from Chicago, and your gold, diamonds and estate jewelry will bring so much more at Oakton than in Chicago because of our ability to refine the gold and silver.
5 Steps to Successful Gold Selling Chicago
How to determine whether you are getting a fair deal?
With the gold price making periodic new highs and the economy suffering, more and more people are rummaging through the jewelry box for ways to raise extra cash. How can you determine whether the price you are offered represents a fair deal? With a few simple tools and a little bit of investigation, you can arm yourself with better information BEFORE you go on your gold selling quest. An educated consumer is a savvy consumer, so this is the best way to make sure you get the right price. You will need to acquire a magnifying glass, a sensitive scale capable of measuring in grams (such as a decent kitchen scale), a calculator or computer, and your old gold jewelry.
Gold selling is a very easy way to raise cash if you know what you are doing. Follow these easy steps:
Using your magnifying glass, determine the karat weight (10k, 14k, 18k, 22k, etc.) by looking for hallmarks on the individual jewelry pieces. The hallmark can be anywhere, but is typically on the clasp of a bracelet, chain or necklace; on the inside of a ring; on the post of an earring; and so forth. Separate your jewelry into different piles sorted by the different karat weights, or purity.
Weigh each pile, and make a note of how many grams of each different type of karat weight jewelry you have. Multiply your totals for each purity level as follows:
9kt weight x 0.375
10kt weight x 0.417
14kt weight x 0.583
18kt weight x 0.75
24kt weight x 1.00
Add all the new totals together. This is how much pure gold (in grams) you have.
Determine the current gold price by checking a site such as www.kitco.com or www.goldprice.org. Divide the current price by 31.1 to determine the Spot Price Per Gram.
Multiply the Spot Price Per Gram x your total pure gold (from Step 3). This is the Full Spot Market Value of your gold jewelry.
If gold selling were just about finding someone to buy your gold, it would be much easier, but you also want to find the right price. Make sure you follow the above steps as near to the day on which you plan to sell your gold as possible. When offered a price, compare it to the value you have already determined. Gold buyers have to cover their costs, which include refining or melting the jewelry they buy, marketing and promotion, equipment, rents and administration. For very small amounts of gold, you can expect to receive 40-50% less than the Full Spot Market Value. For larger amounts of gold, you can expect to receive just 10-20% less.
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Big money for your gold, silver, platinum at Oakton Coins & Collectibles……
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Looking to sell gold or silver in Chicago or skokie.
Retail jewelers mark up diamond wedding rings by an average of 300% up to a unbelievable 1000%. The estimates on markups are broad, but most of the reliable sources we’ve seen indicate that 300% is the usual markup. Your acquaintance who says he bought a $10,000 ring for $1,000 might be on the level.
We are a jewelry shop so that is our specialty! We buy and fine jewelry. We also offer free appraisals for individuals, inheritances and estates.
We buy all forms of gold. The line between gold and money is not well defined. Historically gold was often used as money, but today most gold is used for jewelry purposes. Due to all the economic issues in the last few years gold has gained a lot of attention. Although the price moves up and down everyday, being a traded commodity, generally, the gold price is at a high point these days.
Unfortunately, these high prices have created an opportunity for unscrupulous businesses to take advantage of the public. Many fly-by-night stores have popped up all over Chicago offering the “highest prices” (lowest) paid, even some people without stores, just traveling around buying (stealing) gold. The absolute worst hustle is the mail-in gold services. Don’t trust your wealth to these places. It’s your gold, it’s your wealth; you should not lose it because you are converting your gold into cash.
Historically, banks are where you would take your gold, silver, etc., but for whatever reason they are no longer in that business, at least not to the general public. Therefore, the local coin shop is the business that is open to the public when it comes to these matters. Everyone claims the meaningless offer of “highest prices”. At Oakton Coins, we can give you more money because we do a high volume of business. The refinery gives us better prices and we can pass that on to you.
We buy all forms of silver. Silver is a metal that holds value, just as gold does. But the majority of gold buyers will not buy silver. A few reasons for this:
1.The testing process is more complicated.
2.The market price for silver tends to move around quicker than gold (either, direction),
3. Refiners do not accept small amounts. (We fill up a couple tubs with scrap silver before we can take it to the refinery.)
We also buy most forms of palladium and platinum,diamonds.
Can I get a loan?
We are not a pawn shop, so no loans. No electronics, car radios, furniture, or catalytic converters (that’s junk yard stuff).
Here’s a list of items that you can usually sell Don’t see your item? Call us or bring it into one of our locations. If your item has value, we can usually buy it from you.
- Scrap gold
- Broken gold
- Gold rings
- Gold necklaces
- Gold bracelets
- Gold broaches
- Gold watches
- Junk gold
- Dental gold
- Gold coins
- Gold bars
- Gold ingots
- Gold jewelry
- Gold and silver class rings
- 999 gold
- Silver bars
- Silver coins
- Silver ingots
- Silver necklaces
- Silver bracelets
- Silver rings
- Silver belt buckles
- Silver candlesticks
- Sterling Silver
- Coin Silver
- Fine silver
- Ultra fines silver
- 999 silver
- Junk or broken silverware
- Junk or broken silver candlesticks
- Silver jewelry
- Loose diamonds
- Diamond rings
- Diamond earrings
- Diamond necklaces
- Diamond pendants
- Diamond broaches
- Platinum coins
- Platinum bars
- Platinum ingots
- Antique jewelry
- Estate Jewelry
- US Coins
- World Coins
- US paper money
- US proof and mint sets
Sell Gold and Diamonds in Chicago, IL & Skokie
Sell scrap gold in Chicago
Sell gold watches
Sell broken gold
Sell class rings
Sell gold necklaces
Sell wedding rings
Sell gold lighters
Sell junk gold
Sell gold bracelets
Sell scrap gold watches
Sell scrap dental gold
Sell old dental gold
Sell sterling silver
Sell scrap silver
Sell silver bars
Sell silver coins
Sell silver bullion
Sell diamond jewelery
Sell antique jewelry
Sell paper money
Sell gold coins
Sell gold bars
Sell gold bullion
Sell scrap Platinum
Sell old or junk silverware
Sell silver candlesticks
Sell designer jewelry
Sell US proof and mint sets
Sell estate jewelry
Sell luxury watches