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Get Cash for Gold in Greater Boston

Get Cash for Gold in Greater Boston

For thousands of years, gold has been one of the most valuable precious metals in the world. While it was once used primarily as a currency, today many people wear this valuable metal around their neck as finished gold jewelry. Most people have received or purchased gold jewelry that is lying in the bottom of a drawer, collecting dust in a jewelry box, or sitting forgotten in a safety deposit box. Or, if your jewelry has had an exciting life, you may have broken bracelets, bangles, earrings, or other pieces you’re interested in turning into cash. Whatever your needs may be, that’s where cash for gold stores come in! 

The Jewelers & Loan Co. in Quincy, MA, is not only a high-end pawn shop but also a cash-for-gold jewelry store. We buy gold jewelry and offer short-term pawn loans for customers who want to use the value of gold to get some cash in their pocket for personal needs. Gold collateral pawn loans are safe, secure, confidential, and require no credit check. We believe in safe and confidential transactions and always make sure that you receive the most fair-market, second-hand, cash-price for the many items we pawn and buy.

Customers looking to have their gold jewelry organized by karat purity and weight, using the current gold spot price to get an accurate cash selling price for their gold jewelry can come in during normal business hours, FedEx their items, or simply make a private appointment by calling us.

Areas We Serve

We’re proud to serve the following communities throughout Massachusetts:

  • Boston
  • South Shore
  • Quincy
  • Dorchester
  • Milton
  • Braintree
  • Hingham
  • Cohasset
  • Weymouth
  • Randolph
  • Holbrook
  • Rockland
  • Abington
  • Hanover
  • Marshfield
  • Pembroke
  • Hanson
  • Whitman
  • Mattapan
  • Lower Mills
  • Plymouth County
Tweezers holding a gold nugget, black background.

Why Gold Is Still “the Gold Standard”

A small amount of gold jewelry can be worth a hundred dollars or thousands of dollars, depending on its weight, karat purity, and possible brand name premium. About half of the gold produced in the world is used to make jewelry, but around 40% of that gold is actually used in investments. While stocks rise and fall, expire, and sell out, history has shown that gold remains a constant and has retained its value as an asset year after year. Gold prices can move up and down, and now is a good time to get some cash for your gold jewelry.

Some Americans view jewelry pawn shops in a negative light. We have a different vision at The Jewelers Coin & Loan Co., and so does Europe. Contrary to stereotypes of your local gold pawn shop, in France and India, local banks act as local gold jewelry pawn shops where customers are able to go into a branch to borrow money for gold. Borrowing money on your gold is not viewed in a negative manner in these settings, but rather as a prudent, socially acceptable, and culturally appropriate way to access the cash flow one needs. Overseas, gold jewelry is generally viewed as a gold investment purchased in local denominated currency. 

At The Jewelers Coin & Loan Co., we appreciate the history of gold and think there is a place for it in pawn shops, jewelry stores, and eventually even local banks, which could utilize it in their banking services. In fact, the gold market as we know it today actually started much like a gold pawn shop. In this setting, there was a lender at a counter loaning money for gold, taking coins as collateral and issuing credits for farming, blacksmithing, aristocrats, and other occupations.

Karat Purities for Cash for Gold

While pure gold itself is precious and often quite expensive, not all gold is created equally. The gold that most people have sitting around in their homes in the form of high school rings, college rings, masonic rings, or fraternity rings is likely 10k, .417, 417%. So, before you decide to sell, it is important that you are able to determine the value of the gold that you have, so you can make the most informed decision possible when you are interested in pawning or selling your gold.

In America, the karat of gold most commonly found is fourteen karats (14k) or .585% pure gold, with copper, zinc, palladium, and silver alloy mixed into the jewelry for durability.

A man sitting at a table with gold jewelry and money.

Today's gold chart price - cash for gold jewelry store

Today’s Current Spot Gold Price

The Gold Spot price chart is live right here to the left; along with Silver Spot Price, Platinum Spot Price, & Palladium Spot price. If you are looking for a gold jewelry store or gold pawn shop near you that buys gold at today’s spot gold prices, we can assist. Selling gold isn’t always as straightforward as it seems. Before looking at selling your specific gold jewelry, gold bullion, gold wristwatch, gold bracelet, gold chain, gold pendant, or broken/unwanted earrings, to determine its value, you need to know the value of the gold itself by first knowing what the current up to date gold spot price is at the time you wish to sell.

The current market gold price fluctuates daily. The Monday through Friday trading of gold future contracts and physical gold helps establish the Daily Gold Spot Price. The gold market spot price provides the foundation all over Massachusetts and the world for the cash and check prices paid out by jewelers, pawn shops, pawnbrokers, and gold buyers every day. The current daily spot gold price sets the pricing for the second-hand gold market.

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Why do you need to check today’s spot gold prices for cashing in my jewelry?

Before you decide to sell or pawn an item, no matter which pawn shop or gold broker you decide to work with, it is important to be informed about the daily spot prices for gold and silver.

Just like gas prices and the stock market, the price of pure .999 gold is constantly changing and fluctuating with economic conditions. This is why we encourage anyone looking to get pawn loans or cash for gold to check the spot gold, silver, and platinum price before you sell, pawn, borrow, or get your items appraised.

The value of gold today may not be the value tomorrow, so it is important that you look up the current spot price of gold to help you obtain the best value for your gold jewelry. Checking spot gold prices can help you determine the best time to sell your pieces. Generally, you can use our convenient gold calculator for an estimate of the cash value of your gold jewelry or any type of gold you may have. In the 1970s, gold spot prices were under $200 per troy ounce, and in the 1980s prices ranged from a low of mid $280 to as high as $850 per troy ounce. (For reference, there are 20 pennyweights in 1 troy ounce, which is also equivalent to 31.1 grams). 

 

Determining the Value of Your Gold for Cash

When you have gold jewelry you are considering selling for cash or payment by check, it can be extremely difficult to determine just how much cash you will be able to get for your gold at your local pawn shop, jeweler, or gold buyer. Fear not — it is actually a quite simple process!

Just because a gold piece of jewelry looks beautiful and is in great condition, it doesn’t necessarily indicate how valuable that piece is. Whether it’s gold scrap or gold jewelry, the appearance of the piece is less important than the quality of the gold or the karat purity, the weight in grams, pennyweights, or troy ounces, and the current spot gold price of that day. Additionally, if the piece comes from a brand considered luxury or high-end, or if it features genuine diamonds in the gold jewelry, that can add additional value.

As a general rule, the heavier the gold and higher the karat purity, the more value the jewelry may hold.  Higher karat numbers mean a higher percentage of gold that is pure. The most common gold is fourteen karats or 14KT. This simply means the gold is 14 parts pure gold, or 58.5% pure. This percentage is reached by dividing 14 by 24, which is the highest karat level possible in gold. The other ten parts of the total 24k are sometimes composed of copper, zinc, palladium, silver, and nickel.

At the Jewelers Coin & Loan Co., we are always happy to provide you with a free, no-obligation gold jewelry appraisal right here in our Quincy, MA, location. Ideally, we would provide a free estimate to every customer, but if you have a large amount of jewelry, a sorting and organizing fee may apply.

This sounds confusing, but it’s not! Standard measurements in our world today use an Avoirdupois scale. Using this system, there are 16 ounces in a pound. It is the scale most people use when they weigh themselves. A Troy Ounce, on the other hand, is completely different. The Troy System is used to measure gold, silver, platinum, and other precious metals.

The Troy Ounce used to measure gold, silver, and platinum, is approximately 10% heavier than the standard ounce. So, if you have 10 ounces of gold, it would weigh more than 10 ounces of chicken. However, a Troy pound actually weighs less than an Avoirdupois or standard pound. This is because a Troy Pound has a completely different definition altogether. This type of pound only contains 12 ounces instead of 16. In other words, if you have 12 ounces of gold, you have a pound of gold.

A Troy Ounce has approximately 31.1 grams in each ounce. A standard Avoirdupois Ounce is made up of 28.35 grams.

Often, with big-box jewelry retailers, their payroll and other expenses, such as rent in malls, marketing, and promotions, are high, so they pass the cost along to customers. These large retailers have become efficient at selling large volumes of jewelry both in their brick-and-mortar stores and through their extensive online presence. Dealing with independent jewelers generally provides a better experience than with large, big-box retailers, where employees often have little vested interest in the company and customer experience. The diamond buying experience is personal, and having a face-to-face conversation with a jeweler who genuinely cares about the customer is something that an online sale cannot replicate. Additionally, most jewelry purchasers do not consider the resale value of their pieces in the future, which can cause frustration when they attempt to sell them later.

Unfortunately, not all that glitters like gold is genuine gold. One should be careful when determining if an item is authentic. Just because an item has a stamp, does not mean it is genuine gold. There are a lot of types of jewelry that merely appear to be true gold, such as gold-filled jewelry, gold-plated jewelry, gold mixed with copper, gold stamped, and inflated karat genuine gold. While a piece of jewelry may look expensive or high-end, it doesn’t necessarily mean that it is made of real gold.

The first and easiest way to determine authenticity is to look for a small karat mark or a manufacturer’s trademark stamped on the inside of a clasp, inside of a gold ring, on the end cap of a gold Figaro bracelet, or even a tiny mark on a gold diamond earring post. You will likely see a number stamp or 18k, 14k, or 10k on your item, numbers such as 750, 417, 585, 916, 999, 375, or the word “gold plum.” We often see customers come in with stamped genuine gold on jewelry, but we’ve also seen customers who have purchased gold chains and gold jewelry from a friend, thinking that the item was authentic and that it was a “good deal,” only to find out the item wasn’t true gold.

Of course, we will be happy to take a look at your gold jewelry or gold coins and determine their quality and authenticity for you right here in our Quincy, Massachusetts gold jewelry pawn shop. You can send us a text message, email a picture, or call and stop by during business hours. A small amount of gold collecting dust in a jewelry box can add up fast!

Very simply, 10k means ten parts pure gold or 41.7% pure. 10k/24k = 41.7%. 14k means fourteen parts pure gold out of 24k. In other words, 14k/24k= 58.5% pure, and so on.

If you have something that is 24k, then it is pure gold, which is the best quality of gold. However, chances are, this won’t be in the form of a piece of jewelry, as it is too soft to use in jewelry pieces. This is often found in India, China, Russia, Europe, and South America where higher karats of gold in jewelry are more common. American gold jewelry is usually 10k, 14k, or 18k yellow or white gold.

Gold jewelry that is 18k is very high in gold purity. This means it is made with 75% pure gold and other metals such as copper, zinc, palladium, and a little silver to help strengthen the piece. A simple rule to follow is the higher the karat of gold, meaning 10k, 14k, 18k, 20k, 22k, and even 24k, and the heavier the jewelry, the more money you would receive. Jewelry that is 10k gold is made up of more metals than gold and is actually only 41.7% pure. Ten-karat gold is most common in gold-class ring jewelry, gold chains, and gold earrings, and these items tend to be slightly darker than 14k and 18k jewelry.

If your gold jewelry bears a 585 stamp, it is likely 14k gold. This stamp comes from the simple equation 14k/24k= 0.585, which is where the stamp came from.

When a piece of gold jewelry bears a 417 stamp, it is likely a 10k piece of gold jewelry. This is because 10k gold is 41.7% pure.

Gold jewelry marked with a 750 stamp is likely 18k gold, or 75% pure gold. You will likely notice these pieces are brighter yellow in color thanks to a large amount of pure gold in them.

These stamps are not very common as they are typically only used on European jewelry items such as Claddagh rings, Celtic Crosses, and even old pocket watches. Gold jewelry with a 375 stamp on it is likely 9K and tends to be very dark in color.

Many customers come to us looking to sell gold jewelry pieces that are “gold filled.” This is a very common way to make jewelry today, and while it gives off the appearance of solid gold jewelry, it isn’t the same. Gold-filled jewelry, also known as a gold overlay, is made by using heat and pressure to apply a layer of karat gold to a base metal. This creates an “overlay” of gold on top of the metal.

In order to qualify as a gold-filled piece, the karat of gold in each item must equal at least 1/20 of the total weight of that item. Gold-filled pieces can also be 2/20 or 5/10. Gold-filled items typically have a cash value, as a certain amount of gold is used to create these pieces.

Gold-plated jewelry is another type of jewelry that may give off the appearance of solid gold but is actually made mostly of other metals. If a piece of jewelry is gold plated, it means a very thin layer of gold color or real gold is deposited on top of a metal base. The color will look similar to 14kt gold. In most pieces, this plate is only about 1/1,000-1/1,00,000 of an inch. Typically, you will see 14KGE or 18K GEP stamps on gold-plated items. This type of gold has very little value.

Gold-filled jewelry has a significantly larger portion of gold in it, as opposed to gold plated. Typically, gold-filled jewelry will hold a greater cash value, slightly more than silver jewelry.

A man and woman shaking hands in front of cake.

Selling Your Gold in Our Quincy, MA Pawn Shop

If you want to sell your gold jewelry and quickly get cash for your pieces, then you should stop by our pawn shop in Quincy, MA, to get a free gold jewelry appraisal on your pieces.

Here’s how the process works:

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Step 1: Gather the Gold Jewelry You Want to Sell

Bring in any gold jewelry that you think may have value. We offer cash for gold on all types of pieces. If you aren’t sure, bring it in! Or send us a picture or request a FedEx Label.

Step 2: Evaluating and Separating Your Gold Jewelry

Come visit The Jewelers Coin and Loan Co., right here in Quincy, MA. We will go through your pieces and evaluate, appraise, and separate your gold jewelry by karat—determining whether or not you have a 10k, 14k, or 18k piece of gold to sell, pawn, or borrow.

Step 3: Determining the Value of Your Gold to Sell

Once we have evaluated your gold, we will look at the brand and craftsmanship of your pieces as well. In addition to the precious metal value, we also consider whether you have luxury custom pieces or designer jewelry, such as Rolex or David Yurman, that may add extra value to your items, allowing you to receive the most cash for your gold possible.

Step 4: Weighing Your Gold

We weigh each karat of gold separately on a certified sealed scale to ensure the utmost accuracy, so you know just how much gold you are selling (measured in pennyweights). Then, we will check the current spot price of gold for a to-the-minute update on the current price of gold.

Step 5: Getting a Cash for Gold Offer

Once we have multiplied the weight of your gold by the current market value, we will provide you with an instant, no-obligation cash offer for your gold. You can take it or leave it — we never pressure our customers when we make them an offer! We offer high payouts to our customers for pawn loans and for outright cash sales.

 

Contact Our Gold Buyers Today!

We’re happy to help make cash offers for gold for residents in Massachusetts, including those from Boston, South Shore, Quincy, Dorchester, Milton, Braintree, Hingham, Cohasset, Weymouth, Randolph, Holbrook, Rockland, Abington, Hanover, Norwell, Marshfield, Pembroke, 

Hanson, Whitman, Mattapan, Lower Mills, and elsewhere in Plymouth County.

In addition to cash for gold, follow the links below to find out more about how our specialists can help you get the most value for your items: