FAQs About Buying and Selling Gold
Is it a good time to sell my gold jewelry?
Yes- five years ago pure gold sold for $300 per ounce, but that price has increased five fold and now sells for over $1,500 per ounce! Lack of gold availability and an increasing presence of foreign markets are keeping these gold prices climbing. Silver and platinum are also maintaining high prices as the demand for alternative metals to gold is getting higher. Furthermore, investors are purchasing gold in record amounts, increasing demand and value.
Where is the best place to sell my gold?
Federal Way Custom Jewelers works directly with a local gold bullion buyer, eliminating the middle man. We use the up-to-date gold price and calculate the value of your gold on the day you bring it to us, a far better alternative to mail in advertisers. Unlike our national competitors, we want to give you the most for your gold and we strive to gain your trust and confidence. As a small business that thrives on word-of-mouth advertising from loyal customers, we feel that treating out customers fairly and honestly is the most essential aspect of our gold purchasing. We are proud to have gained the trust and respect of thousands of happy clients. Read some of our customer testimonials here.
How do you calculate the value of my gold?
Calculating the value of precious metals is not as simple as 'a stamped percentage and a weight'. We look at each piece and use a special acid test to measure its gold content. We then help you sort your pieces into the type of metal and pay you based on the weight of each category. For instance, if you had 10 grams of 14K gold, which is 58.5% pure, you would earn substantially less than if the gold was pure 24K. We take into account gold purity and costs to refine it when paying you for your gold.
Do you buy old gemstones and diamonds from my jewelry?
Often times we are interested in buying a piece of jewelry for the gold value only. If the piece contains gemstones or diamonds we generally return the stones to you, although if the stones are of high enough quality we may consider purchasing your stones separately or as a whole entity if we see fit.
Are there other ways to use my gold and gemstone jewelry?
Gold and gemstones make excellent resources for custom jewelry. When making a piece of jewelry, there are three expenses: metals, stones and labor. If you are able to provide a portion of the gold fee along with some gemstones from your old gold and jewelry, you can substantially reduce the out of pocket expenses of your custom piece. Not only would this allow you to utilize your old jewelry, but you would walk away from our store with a beautiful piece you will be proud to wear for years to come. View our gallery of custom jewelry here.