Selling Your Jewelry to a Gold Buyer? Expert Tips & Advice by National Jewelry Buyers

With all the “Cash for Gold” signs and commercials buzzing around 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, “While gold prices have slipped from their record highs,
prices are still relatively strong and 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

Despite all the excitement, 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 acknowledged.

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 great.

signs displaying “buying diamonds,” many cash-for-gold businesses will
actually pay little to nothing for diamonds. They are mainly 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 jewelry buyer.”

His opinion on places to avoid:

For more information, including current market prices and other details
on getting the most for your jewelry, visit

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