Chassell appraiser says research company before the sale
By Jeni Jewell
Tuesday, May 19, 2009 at 5:57 p.m.
Read more: Local
CHASSELL -- You've seen the commercials on TV, promising to give you money for your gold. And you've probably wondered how much is your old necklace or ring worth?
So, how can you keep from getting swindled?
Todd Van Kleeck, the owner of U.P. Coins in Chassell, says the best way to get paid what the jewelry is worth is to work with someone you can research, like a local jeweler.
"I would never send my gold, or anything else, through the mail," said Van Kleeck. "I have no idea who that person is or who he is."
And while going with a local appraiser can lower the risk of getting swindled, there's some questions you should ask. What is gold is being traded at? On Tuesday, the price of gold per troy ounce was about $925.
Van Kleeck said it's also important to know what karat the gold is that you have: 12, 14 or 18 karat. Fourteen karat gold, for example, is 58.5 percent pure. So, it's worth about half of the current gold price.
"Then you probably figure 80 percent of that is a fair price," Van Kleeck added. "If it's somebody's trying to buy it at 20 percent, that's a little bit different now."
You also have to figure in an appraisal fee. Van Kleeck says most jewelry stores will charge a small fee to appraise gold, coins or other jewelry.
