Gold is Up – Sell Now!

With the uncertain economy, many families are looking to collect some extra money by selling their gold jewelry, coins, or bars. Because of increasing gold values, many new companies offering to buy gold jewelry have popped up in San Diego, and selling your gold has never been riskier. These buyers seem to pop up at every corner, making it difficult to know whom to trust.

However, with so many people eagerly looking to sell gold jewelry in San Diego, scammers began trying to take advantage of the unwary. This is why it is extremely important to do your research before selling your valuable to someone who might give you an unfair price.

You’ve probably seen “We Buy Gold” signs all around town. With the demand to sell gold so high, many such shops seem to have opened overnight. Some of them are completely legitimate gold buyers, but others might have a few stains on their resume.

Some of the less-reputable ones might even give you a quote that is up to 60% less than what you’d get from a legitimate gold dealer. Most of these shops work without a proper license and don’t follow the same legal procedures that other legitimate practices do. They will no doubt try to devalue your gold jewelry using all types of schemes.

For example, using scales for weighing that are not legally licensed by the Department of Weights and Measures can result in shorting the weight of your gold to reduce its value. That is why it’s important not to rush into selling your gold, no matter how anxious you are. Instead, take the time to research a gold buyer online and look for any red flags from customers who already got burned.

Pile of gold bars.

Selling Gold to Leo Hamel Jewelry & Gold Buyers

Your safest bet when selling gold is to turn to a reputable, local gold-buying business like Leo Hamel Jewelry & Gold Buyers. A legitimate gold buyer has both friendly and knowledgeable staff and all the right equipment to appraise your gold jewelry. A reputable dealer will offer you advice and will not rush you into selling valuables that may have an emotional value.

Leo Hamel’s is a family-owned business serving customers in San Diego since 1980. In these four decades, we have built a reputation for being a safe, secure, and confidential gold, jewelry, and watch buying business. You can sell your gold of any karat, even broken pieces, or single earrings. Or you can trade it for another treasure from our collection of fine jewelry! Feel free to contact us if you have any questions or visit us at a location near you.

What is a Troy Ounce?

One of the main questions that we are often asked by first-time customers looking to sell their valuables is: “What is the process?” That depends entirely on the item itself, its condition, the market price for its material on a given day. However, there is one factor we consider and that’s the item’s weight, especially when it comes to precious metals. This value is based on the actual weight measurement of the materials at hand.

Seems straightforward, right? But did you know that precious materials have their own standard unit of measurement? Chances are when someone refers to the weight of an ounce, they are referring to the avoirdupois ounce used on bathroom scales, kitchen scales, produce scales, etc. Precious metals, however, are measured in troy ounces. The difference between these standards of measurement is minimal – a troy ounce weighs 31.103 grams, while an avoirdupois ounce weighs 38.349 grams. But it’s important to understand that a troy ounce weighs slightly more than the ounce most of us are used to.

American gold coin.

History of the Troy Ounce

The term “troy” is assumed to have been adapted from the name of the French market town of Troyes. The merchant fair held there is believed to date back centuries and was known to have grown internationally famous by the 13th century. As one of the most significant centers of commerce in existence at that time, with merchants attending from various countries, it was necessary to have a standard system of weights and measures that would be understood by all. It’s easy to forget in our modern world that operates on systems of paper and electronic transactions, that once upon a time money was a commodity measured by the weight of real goods.

As the avoirdupois ounce became more popular, the troy ounce was retained for measuring gold, platinum, silver, and even gunpowder to maintain purity standards and common measures across time. Most of the bullion, bars, and coins still in existence today were cast and created in troy ounces, so to convert everything into avoirdupois ounces now would create a bit of a headache. Items would have to be individually converted and recalculated every time or melted down and recast at a different weight entirely. So, the troy ounce lives on, operating in harmony with the common avoirdupois ounce. Do you have gold or silver bars or coins that you want to sell? Visit Leo Hamel Jewelry & Gold Buyers to get the best price for your valuables! Gold is at a record high so now is the best time to sell. No appointment necessary and you’ll get a full evaluation from our expert jewelry and gold buyers.

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