Local Cash for Gold – How One Company is Putting a Friendly Face to a Scorned Industry

Cash-for-Gold buyers and pawnshops have faced many controversies in past years. A lot of people bring their gold and other valuables to these places in hopes of aiding their financial woes, only to be shocked and disgusted at how little they were being paid for their assets. Bad business practices, misleading claims, and employees who were trained to rip you off, all contributed to the negative stigma towards this industry.

One innovative business in Rochester, New York, chose to offer top prices and services, becoming the preferred pawnshop for its locality. Ridge Coin and Gold Exchange has gained a fantastic reputation from its clients throughout its 45 years of business.

The business has come up with novel ideas to attract more customers and cater to certain needs. They have integrated modern business practices to continue to offer the best services to their clients.


Social Media Integration

Ridge Coin and Gold Exchange can be found on Facebook, Google+, YouTube, and Pinterest. Reviews of their services can be found on review websites such as Yelp and Yellow Pages where they receive many 5-star ratings from clients. People frequently comment on how polite and friendly the employees are. Another thing that is commonly mentioned is how the business continuously provides the best prices among all other pawnshops in the area. One commenter talked about how he was given $360 in their pawnshop but was only offered $40 in another place. In 2013 they held a “Wealthy Wednesday” promo where they awarded $100 to lucky winners of the contest.


Expanded Services

Some pawnshops will only appraise your gold and diamonds then ignore other gemstones your jewelry may contain. Ridge Coin and Gold Exchange will value your jewelry as a whole. Their services expanded to include buying jewelry, watches, estates, collections, antiques, and many more. If it has value, they may purchase it! You may walk in their stores for a free appraisal or call them over the phone for an estimate. Their shops are open 9am-7pm, 7 days a week.


Buy-Back Program

If you need a quick loan but don’t want to sell your valuables, you could avail of this program. You hand over your item in exchange for cash and they hold it for you until you are ready to buy it back. You purchase your item back for the same amount plus some storage and setup fees. They won’t try to sell it until the agreed schedule has passed.


Gold Parties

Ridge Coin and Gold Exchange offers ‘Gold Parties’ where you invite friends to a party to sell their valuables. Experts will be present to appraise your friends’ valuables and offer cash for them. They offer no-obligation, on-the-spot appraisals and give you and the host a bonus for every item sold.

Their high customer satisfaction rankings and honesty with gold values has made them the pawn shop of choice in Rochester, New York. You can also check out Sell Your Gold Locations if you are looking for other gold buyers in the Rochester area.

Measure Gold Purity – How Your Gold Jewelry is Tested

There are many ways to test for the purity of gold, but some of these methods are either destructive to the material or require very expensive equipment, expertise knowledge, and special procedures.

One of the quickest and most cost-efficient ways gold purity can be tested is by using the “Touchstone” method. This is an old and reliable technique which can keep gold jewelry and coins intact. The touchstone method uses acids, white/yellow gold testing needles (with known gold purity listed on each side), and of course, a “touchstone”.

Before attempting to test for the purity of gold, it is first checked for any stampings or quality marks that may indicate its purity. The US uses the Karat “K” system for marking gold, whereas Europe uses three digits indicating the percentage of gold in their jewelry. The equivalents are as follows:

  • 24K; 999 Mark: 99.9% Gold purity
  • 22K; 917 Mark: 91.7% Gold purity
  • 18K; 750 Mark; 75% Gold purity
  • 14K; 585 Mark: 58.5% Gold purity
  • 10k; 417 Mark: 41.7% Gold purity

Sometimes, the appraiser will first perform a “nitric acid test” to check if the item is actually gold. In this test, a small mark is made in a hidden area and a drop of nitric acid is applied. If no reaction occurs, then it is necessary to proceed with the touchstone test.

The purity is measured by following these steps:

  • The jewelry piece is rubbed against the touchstone (using an inconspicuous spot) until there is a thin but clear metal sample on the stone. It is marked as the unknown metal.
  • Using the gold testing needles, a line is made for each of the other needles of suspected purity (12K, 14K, & 18K) which are also marked accordingly.
  • The test starts using the lowest Karat acid bottle (12K in this case). An applicator is used to swipe the acid across all the lines of the metal samples. After 20-40 seconds the touchstone is rinsed with a mixture of water and baking soda to neutralize the acid and is rinsed again with water.
  • This will cause the 12K gold testing needle line to disappear. If the line of the jewelry piece being tested has disappeared, this means it has a purity of roughly 12K or lower (which may need to be tested for by trying it against the 10K solution). Thus, it is recommended to have a lower Karat line for control purposes.
  • If the line of the jewelry piece remains, then it proves it is higher than 12K and the process is repeated with the 14K acid bottle. If at 14K the line of the piece disappears, then its purity has been determined. If not, the stronger acids are used until the line disappears.

There exist other simple ways to test for gold purity. If you are interested in acquiring a gold appraisal kit, Cash for Gold Mailer provides a fast and safe way to determine your gold’s value. After performing their own purity test and weighing your jewelry, they’ll offer you a cash payment based on the spot price of gold.

Online Cash for Gold Buyer Reviews

Remember back in 2009 when MC Hammer was trying to get you to send your gold in to Cash4Gold?  Thankfully, that didn’t last very long.  It quickly became a joke – a sad joke really – because of how bad a deal cash for gold rates were back then.  They offered very low prices, despite record high prices in gold.

Well, the joke is over now.  People understand what gold is worth, and there is plenty of more trustworthy competition out there to fight to pay the highest prices.  Review sites help reveal which sites are trustworthy, which aren’t, and how to get the best price.

Gold ReviewsWe’ve found The Gold Selling Guide to be particularly useful for everything from pricing gold to finding a buyer.  You can figure out exactly how much your gold is worth, how to calculate it, and the best way to go about getting quotes for your gold.  They also have reviews for multiple companies on their website.

Most importantly, avoid the scams.  Here’s their guide to avoiding cash for gold scams.

Ratings are compiled based on a number of factors:

Insurance – how much do the gold companies insure packages for?

Price – You want to get the most cash for your gold.  They’ve done tests to see how pays the most.

BBB Rating – Are they accredited?  What is their current ranking?

Money Back Guarantee – Not happy with your payout amount?  This is how long the companies will give you to send back the gold for a full exchange if you’d rather have the jewelry than the cash.

Years in Business – You want to find a company that didn’t start up just now as gold has been exploding.  Many of the companies they feature have been in business for decades.

Customer Reviews – What’s better than hearing from people who actually worked with these companies?  You can see how many people are reviewing each company, as well as what kind of ratings and payouts they’re getting.

There’s a lot to look at when choosing a gold buyer.  And remember you can always at least take it to a local pawn shop or jewelry store for a quote too.  Most of these companies offer higher payouts, or even 110% guarantees to beat prices.  But still, it’s good to get at least a couple price quotes to get the most you can.

Express Gold Cash is frequently the highest rated buyer on many of the review sites.

How To Sell Raw Gold

how to sell raw goldOne of the more commons ways to sell your raw gold is by using a local cash for gold dealer or pawnshop. Even though this will be the fastest way to sell raw gold, it likely won’t earn you the return that you were looking for.  Many cash for gold stores and pawnshops need to make very low offer in order to make a profit. Because of this, most feel the better option for selling raw gold is to use an online gold buyer.  These online gold buyers enable you to easily mail in your raw gold and wait to hear back from the buyer with their offer. Those are two of the ways on how to sell raw gold, and you can find more about the process below.

Where To Sell Raw Gold – Finding A Buyer

Luckily, most gold buyers will purchase any types of gold as long as they feel that can make a profit from it. So it does not matter if you have raw gold, broken jewelry, or just some old scrap gold. I mentioned that you could use online gold buyers as an option, so you will need to decide on whether or not you want to sell locally. Keep in mind, local buyers will offer less money, but you will be able to get money in that same day. Narrow down your search by deciding on a type of gold buyer, and looking at reviews to find the best gold buyers.

Selling Raw Gold

Again, the process is no different because you are selling raw gold as opposed to gold jewelry. If you sell locally, be prepared to negotiate a price. By having a good understanding of how gold is valued, you will be able to better negotiate and know if you are receiving a fair price. With online diamond buyers, they take the approach of offering a non-negotiable valuation that is higher to speed up the process and satisfy more customers so that they return in the future. Be sure to try to estimate the price of your raw gold before selling.

Those are two things to consider when selling raw gold, and after that you will just need to collect your money. Be sure to remember that many of the gold buyers also purchase gemstones, and you can even sell diamonds online. Raw gold is one item that many people find themselves selling in order to make some extra cash. Just be sure to understand as much as you can about the process and your gold item to help you earn the most cash for gold.

How To Sell Your Gold Online

Offering your gold items to online buyers is an incredible opportunity to earn money for jewelry and things that you probably won’t wear or need. While selling gold online may make some individuals a little worrisome, we guarantee you that the buyers that we recommend are all highly regarded business that are certified with the Better Business Bureau. These online buyers can offer a service than cannot be matched by its rivals, making selling gold online your best option.

As I already said above, there are multiple benefits of selling gold online that pawn shops can’t contend with. Most individuals will be looking to acquire the most money for their and higher payouts will come from the online gold buyers by keeping expenses low and focusing specifically on this precious metal. There is a similar process of selling gold online that the gold buyers all base their service on. Now and again you will be able to have cash in your bank account in only a few days. While these two benefits are typically enough to convince individuals to utilize online gold buyers, there are different features of their business. In the event that you are thinking of offering your expensive or sentimental ring, some online buyers will permit you to have your ring back if requested within a certain time period on the off chance that you have a change of heart. These are all phenomenal reasons in respect to why you should to sell your gold on the web.

How To Sell Gold Online

The convenience of the procedure is one reason behind why you should sell gold on the Internet. In spite of every gold buyer being a unique business, the methodology is for the most part the same, and here is what you can anticipate from it.

1. The principal step would be to get a shipping label from the gold buyer that will permit you to ship your jewels at no expense. To do this, go onto the gold buyer’s website that you are going to utilize, and you can then print or have the label sent to you.

2. Then bundle your gold deliberately in a manner that they won’t get harmed amid delivery. Use packaging material to guarantee that they stay safe. Give the box or envelope to the postman or take it to the mail yourself and send it to the buyer.

3. You will then be contacted once the buyer has gotten your things and set a valuation on them. It is your choice whether to accept or deny the offer and have your gold sent back to you. Every gold buyer will offer distinctive options for payment and this is something you might want to investigate before picking who to offer your gold to.

As should be obvious, the process of offering selling gold online is simple and advantageous to a lot of people. Pair this together with the fact that you will earn more money for your gold than anyplace else and you will see how selling gold online is likely your best choice