FAQs
View answers to frequently asked questions about the buying and selling process at Used Jewelry Buyer.
For more information, Contact Us today at (314) 974-6699 or visit our store in St. Charles, MO. All submissions, calls, or texts will be answered within one business day.
- Why don't you offer coupons like some of the other gold buyers?
- I really like your calculator link, but I have no idea how much my gold weighs. What can I do?
- I've called around and some gold buyers won't give prices over the phone. Why?
- How can you post your buying prices when the prices are constantly changing?
- Why do you want your customers to know what their gold is worth?
- I've been told that gold is a commodity and at any given time has a finite value. So why don't you pay 100%?
- Does it cost money to refine scrap gold in to pure gold?
- Are your buying prices negotiable?
- I paid a lot money for my gold jewelry. Why is it only worth scrap?
- A gold buyer scratched my gold and said it was less than the karat marked. How can that be?
- Is there fake gold out there?
- Your website says you buy gold bullion and coins. Are you really paying 97% of the spot price?
- What about United States gold coins?
- Do you buy silver bullion and coins as well as gold?
- I hear silver is very high now. Do you buy silver?
- I took an old diamond ring to a buyer but they wouldn't allow anything for the diamonds and offered to give them back to me. Why can't I get anything for my diamonds?
- Do you buy larger diamonds and estate jewelry that is resalable?
1. Why don't you offer coupons like some of the other gold buyers?
Well, we aren't selling pizza here. Your gold is worth exactly the same regardless of the buyer. So, if a gold buyer's coupon offers you $25.00 more than the value of your gold when you sell $200.00 worth — then what if you only have $195.00 worth of gold? Do you get $25.00 less than your gold's worth? My advice is to figure out what your gold is worth before you sell it. Then sell to the buyer who will give you the most.
2. I really like your calculator link, but I have no idea how much my gold weighs. What can I do?
You can use a common food scale that weighs in grams — it will get you close. Other options would be to buy a small scale at a hobby shop, or take it to a trusted jeweler who will weigh your items right in front of you. Don't forget the gram and pennyweight conversions.
3. I've called around and some gold buyers won't give prices over the phone. Why?
I don't know what the big deal is about giving out pricing. My best guess is that buyers that don't want to share pricing because they're worried you’re shopping around. If you call me, I will tell you what I am paying at that time. Keep in mind that until a buyer sees your valuables — it's just an educated guess. For example, if I give you a price on 14k scrap and you bring me gold plated scrap that will negate any previous verbal price. Try it, and give me a call at 314-974-6699.
4. How can you post your buying prices when the prices are constantly changing?
I update my buying prices regularly to reflect current market conditions. While prices do fluctuate, my posted rates are intended to stay accurate within normal market ranges. As long as the market remains stable, the posted pricing provides a reliable guideline. Feel free to give us a call to get the most up-to date quote: 314-974-6699.
5. Why do you want your customers to know what their gold is worth?
I want my customers to get the most value possible for their gold. The only way to do that is by understanding what they have before they sell it. Sometimes that means someone uses the information I provide to sell elsewhere, and yes, that can hurt my business. But I believe informed customers make better decisions.
In the end, people appreciate a straightforward, transparent approach. That trust often leads to referrals, which are vital in the buying business.
6. I've been told that gold is a commodity and at any given time has a finite value. So why don't you pay 100%?
Believe it or not I've been asked this question a lot — by some very smart people. The answer is the same for any business. After paying all the expenses associated with operating the business, we expect to retain a small profit. Paying 100% of golds value would put buyers out of business in one day.
7. Does it cost money to refine scrap gold in to pure gold?
Yes, refining does involve costs. We also don’t receive full value when refining scrap gold, but with the right volume and by working with reputable refiners, we’re able to recover a strong return overall.
8. Are your buying prices negotiable?
When bidding on larger estates of jewelry and coin collections we always negotiate. This is a competitive business that requires some flexibility. Show me what you have to sell, and we'll work out a fair offer together.
9. I paid a lot money for my gold jewelry. Why is it only worth scrap?
It might be worth more if you can find a fine jewelry store who can sell it as a piece of jewelry. But the reality is jewelry stores are buying gold to resell it just as we do. We lock in the gold price with our refiner right away allowing us to pay you the most for your old gold.
10. A gold buyer scratched my gold and said it was less than the karat marked. How can that be?
The jewelry industry is notorious for what is called “underkarating”. What that means is if it is stamped 14k it might only be 12k. Unless every piece of gold is tested at the time of manufacture — it gets sold on through with the manufacturer's stamp. You'd only discover that it's a lower karat than originally marked when it is refined at a much later time. It's a known problem in the industry that just hasn't been addressed.
11. Is there fake gold out there?
Let me put it this way, you don't want to be buying gold from a guy on a street corner. Gold buyers see fake gold with very good markings almost daily. Just because it says 14k on it doesn't mean it's gold.
12. Your website says you buy gold bullion and coins. Are you really paying that close to spot price?
I know what you’re thinking—how can anyone operate on such thin margins? The truth is, it isn’t easy. One advantage I have is the ability to sell bullion immediately, which allows me to lock in a small profit. There are also no refining costs involved.
By eliminating those expenses, we’re able to pay very competitive prices when trading bullion and coins.
13. What about United States gold coins?
That's different from gold bullion. There are many factors that determine the value of a gold coin. Some have rare dates or mintmarks, and condition is certainly a factor. I am not a traditional coin shop but I can pay as much as anyone else since most coins that come through a shop get sold to dealers anyway.
14. Do you buy silver bullion and coins as well as gold?
Yes. Please call us for a quote: 314-974-6699
15. I hear silver is very high now. Do you buy silver?
We are still buying silver, including 925 jewelry, sterling flatware, silver art objects, coins, silver wire, and virtually anything made from silver.
At the moment, the silver market is experiencing unusually high volatility along with significant processing backlogs. Silver prices have risen quickly, flooding the market and creating bottlenecks at refineries. As a result, many refiners in the United States have temporarily stopped purchasing silver, leaving limited outlets for material.
Because of this, any silver we buy would need to be held for an extended period—potentially four months or longer—before it can be processed.
16. I took an old diamond ring to a buyer but they wouldn't allow anything for the diamonds and offered to give them back to me. Why can't I get anything for my diamonds?
We do pay for diamonds. Every diamond has some value, though small or low-quality stones may bring only a modest amount. Unlike gold, diamonds are not a commodity—their value depends heavily on quality and market demand.
Right now, the resale market is saturated with diamonds, and the widespread presence of lab-grown diamonds has pushed prices down for both natural and lab stones. Because this is a secondary market, you typically won’t receive anywhere near what you originally paid.
That said, if your diamond—natural or lab-grown—is good quality, we will always test it and adjust our appraisal accordingly. In fact, we often suggest first checking with the original retailer for a bid, even if it means losing the sale. More often than not, we still end up paying more. If you have any original paperwork/certifications please bring with you during your appraisal.
17. Do you buy larger diamonds and estate jewelry that is resalable?
Yes, I do. I’ve been in the jewelry business since 1975, in just about every way imaginable. Over that time, I’ve developed the knowledge to make legitimate cash offers and built a strong network of contacts that allows me to quickly sell your items.