National Jewelry Buyers Sheds Light on the Gold Buying Industry
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--With all the new "Cash for Gold" signs and commercials buzzing a...
Published on: Mar 3, 2016
Transcripts - National Jewelry Buyers Sheds Light on the Gold Buying Industry
National Jewelry Buyers Sheds Light on the Gold Buying
ALBUQUERQUE, N.M.--(BUSINESS WIRE)--With all the new "Cash for Gold" signs and commercials
the country, millions are flocking to turn their old jewelry into cash.
Gold silver exchanges, coin shops, jewelry stores, and pawn shops are
bustling with customers. Even check-cashing centers, payday loan
businesses, and barber shops are getting in on the action.
The president of National Jewelry Buyers, one of Albuquerque's most
prominent gold exchanges, shares his insight on this booming trade.
"In the past, our industry catered mostly to those needing some extra
cash. People were often embarrassed of looking desperate if they sold
their jewelry," explains Romie Salem. "All of that has changed."
He elaborates, "With gold at record high prices, people recognize it's a
great opportunity to cash out the unnecessary jewelry they have
accumulated over the years. We are now seeing a wider range of
customers, including the upper-income crowd that would rarely be seen
selling their personal treasures."
Despite the spike in gold and very tempting advertisements, many are
still hesitant and skeptical. "Complaints are rampant about businesses
that gouge customers and pay a small fraction of what pieces are
actually worth," says Salem. "Indeed, all gold buyers are NOT the same.
Customers frequently tell us about other places that offered them much
less than what we paid. The difference is sometimes shocking," he
So how should one go about selling her/his jewelry? "Use the same common
sense you would when making a major purchase," urges Salem.
Some specific advice offered by the National Jewelry Buyers staff
SHOP AROUND. Always get more than one quote. "You'll be
amazed how far apart offers can be. We love our policy of 'no
games no negotiating--just our best straightforward offer'.
Customers really appreciate it," says one employee.
COMPARE "TOTAL AMOUNT". Do not bother asking how much per
gram/pennyweight or what percentage of gold they pay. Just see how
much they will pay you in total for your jewelry. By comparing
just "the bottom line," you'll avoid falling prey to the
misleading tactics some dealers use to make their offer sound
SELL DIAMONDS TO A DIAMOND BUYER. Despite their signs
displaying "buying diamonds," most cash-for-gold businesses will
actually pay little to nothing for diamonds. If you are looking for the best deals on gold visit Merrion
Gold website. You'll find out more about their big offer of gold coins
Among their gold coins you will find South African Krugerrand, American Gold Eagle or Canadian
Maple Gold. Don't wait. Invest in gold now:
16-20 South Cumberland Street
Off Merrion Square
Dublin 2, Ireland
They are only
interested in melting the gold in which the diamonds are set.
National Jewelry Buyers is one of the few specialized gold and
diamond buyers in Albuquerque, where your diamonds will be graded
and appraised by an expert.
PLACES TO SELL GOLD? "When you think of buying appliances,
you think of Sears or Best Buy. When you want household supplies,
you go to Walmart or Target. Use the same logic," says Salem.
"Sell your valuables to a strong, specialized, reputable place."
His opinion on places to avoid:
Pawn shops are useful for "pawning" something temporarily. They
will rarely pay highest to buy your gold jewelry outright.
Check-cashing, payday loans, or other business that buy gold as a
"sideline" part of their business will never pay the highest.
Mail-in centers and fly-by-night hotel buyers that set
weekends will not be your best venue. If you live in a
where a strong gold buyer is simply not available, it
be worth driving to the nearest city where a reputable gold
exchange is open.
For more information, including current market prices and other details
on getting the most for your jewelry, visit www.nationaljb.com.