Gold Resources

Here you will find some tips on selling your gold, scrap gold, and gold jewelry. Our clients represent some of the best gold buyers on Long Island. Since we at Long Island Gold Buyers are concerned with helping you, the seller, with getting the most out of your gold - we have compiled this handy guide for getting the most money you can from selling your gold. Links to resources will be included at the bottom of this guide.

Before you sell your gold...

First and foremost, make sure that your jewelry is ACTUALLY gold. Costume (fake) jewelry will net you little to no value, and can only be sold to those who are willing to buy it in the first place. Once you've determined that your jewelry is real gold, you will need to make sure if your jewelry is either gold-plated or solid gold. Gold-plated jewelry is generally cheap, and thus you will get little value out of it (only the gold plating is worth anything). Solid gold jewelry is what gold buyers and jewelers are looking for, so solid gold jewelry is your best bet for getting a big return on your gold.

Next, you need to make sure that your gold jewelry or scrap gold does not have any antique value that would make it more valuable than it's base meltdown value. Antique jewelry, especially antique jewelry with either historical value, or fine craftsmanship from noted jewelry makers, can fetch you more money on it's antique value alone than from it's metal value. In this instance, we recommend appraisal by an expert jeweler to assess the total value of your antique jewelry.

Once it's determined that your jewelry is neither antique, historical, or holds any extra value gained from it's maker, it is important to weigh your gold. A simple kitchen scale will do. Once you have the weight of your solid gold, use an online weight calculator like, to convert the weight into Troy pennyweights (DWT) - one of the most common measurements for gold. Next, visit to get the current melt value of your gold.

This doesn't mean you should expect to receive that price from a buyer. The amount shown represents the current melt value using the live gold price, and can serve as a haggling point.

Many ways to sell your gold...

Once you've determined the value of your gold, now comes time to sell it. Below is a list of ways to sell your gold - from best to worst.

  1. Refiners - Typically, you will get close to full market value from refining companies. The issue here is that refiners usually only buy in bulk. This makes refiners an unlikely choice for you to sell small amounts of gold.
  2. Local jewelers or pawn shops - Providing the second-best pay day. Call around to ask how much they'll offer for your gold, once you determine its weight using the suggestions above. Use the Better Business Bureau, or consumer review sites like Yelp to vet any questionable businesses.
  3. Gold parties - A Tupperware party, lingerie party-like experience - where you can enjoy a few glasses of wine and socialize with your friends. However, don't expect top dollar.
  4. Mail-in buyers - Avoid these offers like the plague - they provide the absolute worst deal for your gold and jewelry. These are usually firms that advertise online, on TV or on highway billboards. Money Adviser checked with Cash4Gold, GoldKit and GoldPaq and found they only pay about 11% to 29% of daily market value. Sell your gold by any of the above means - not to mail-in buyers.

Resource Links

Here, we have a compilation of gold buying & selling resources and information to help you with your gold buying & selling ventures. All the links in this list are the best sources of information we could find on the subject. All information listed on these sites is NOT under the control of Long Island Gold Buyers, so we cannot guarantee it's accuracy. Long Island Gold Buyers is NOT responsible, nor liable, for the accuracy of said information. If you have questions about the information they (the resource sites) provide, please direct them to the owners of the respective site you found the information on.