Archive for the ‘ Gold Buying ’ Category

Cash For Gold – Do’s and Don’t

We all love the gold jewelry that we have as an ornament to adorn our self. Little do we know that these gold ornaments are not just a possession, but a valuable possession, which can be of great use when in dire need of cash. One can always turn to monetize their gold: either in the form of ornaments or in the form of coins.

But one drawback that most people experience when selling their gold for cash is that they tend to get the amount much lower than they have expected. Here, we have listed a few points to be considered before you head to sell your gold.

  • Bill:Whenever you intend to sell your jewelry always carry the respective bill or invoice as it would eliminate any dispute regarding the purity and weight of the ornament.
  • Know the Worth: Gold jewelry has no standardized assessment patterns for evaluations, so it is always better to check the worth of your ornaments by visiting at least three to four stores and then settle for the one offering the highest price.
  • Hallmark: A jewelry that bears the 916 hallmark is always preferred by a jeweler than one that does not bears the mark as it means that the jewelry is 91.6% purity of gold in 22 karat gold. But if one has jewelry without the hallmark then one can always avail the services of a store that has karat meter and can establish the karat and purity of the gold.
  • Actual Price: It is a known fact that the selling price of a gold ornament is always less than its current market cost price. A jewelry shop will determine the price of the ornament by first melting it in a blast furnace and then evaluating the price of pure gold. The jewelers do charge a fee for this evaluation process which is very nominal and mostly deducted from the price that they offer. Also, making charges and taxes that one pays during the purchase of gold jewelry is entirely lost at the time of selling bringing the actual amount 8-9% less than the estimated price.
  • The best place to sell: Ellis Fine Jewelers.  A visit to a reputed jewelry shop is the best shot at getting the right worth of your gold and be saved from any malpractices of a pawn shop.

Now you are ready with all the knowledge needed for selling gold for cash.

Gold is the bright spot in commodities rout but 2016 forecasts are divided

The precious metal has traditionally been a safe haven for investors at times of market turmoil but it also thrives at times of inflation, which remains low

Gold prices started 2016 with a glimmer, rising to two-month highs in the wake of the Chinese stock market rout and the ripple effects it caused in European and US markets.

After touching an all-time nominal high of more than $1,900 an ounce in 2011, gold values have generally declined. Since 2013, the yellow metal posted annual losses. Investor interest soured amid the commodity rout and a stronger US dollar, but so far in 2016, gold has resumed its traditional role as a safe haven in times of financial turmoil.

Its role as a de facto insurance policy allowed gold to buck the commodity sell-off as the new year dawns industrial commodities like crude oil and copper were pressured hard by the worries over China, which is the biggest commodity consumer.

As such, the metals outperformance of almost every other investment this year has turned some heads. Last week gold prices rose over $1,100 an ounce in New York for the first time since November at the height of Chinese concerns, although they have pulled back to about $1,077 as concerns abate for now. But theres some discussion about whether its shining start is the beginning of a rebound or just a temporary bounce.

Those who see a modestly higher path for gold said US dollar pressure may wane in the coming months, while others say the general deflationary commodity environment is negative for gold prices.

The impact of further Federal Reserve interest rate hikes is also debated, as some suggest that since the Fed has finally acted, the market can focus on other factors. However, others say even modestly higher interest rates make gold undesirable versus other safe investment choices like US Treasuries, since the metal has no yield.

James Steel, chief precious metals analyst at HSBC, says he is moderately bullish on gold, with a 2016 average price forecast of $1,205. In addition to the safe-haven buying, gold offers non-US buyers a currency play.

Its one way to hedge yourself against a weaker domestic currency since it reflects a dollar value, he said.

He was also impressed that gold did not sell off sharply after a stronger-than-expected US jobs figure and has held up despite oils drop to 12-year lows. His higher 2016 price forecast is based on the idea that the US dollar will soften and emerging market demand will improve later this year.

Kevin Grady, owner of Phoenix Futures and Options, said the rebound in gold inspired some light investor interest again in the futures market.

When the stock market would have its big down days, in gold we would start to see some buying come in. It seems as if people are picking at it, he said.

Purchases of gold-backed exchange-traded funds also rose. The largest of these ETFs, SPDR Gold Shares (GLD), witnessed nearly a 10 metric-ton increase from 31 December to 11 January, to 651.68 tons.

The Chinese lunar new year may also spur gold-buying in Asia which could support prices, too.

The question is: will investors stay? Despite the gains, many gold-market watchers say the rally is transitory because of the lack of inflation. Gold feeds on inflation, and without its favorite food, the metal may be on a diet for now. Barclays still pegs its 2016 average price at $1,054 an ounce, just off the 2015 low of $1,050.

Rob Haworth, senior investment strategist for US Bank Wealth Management, said the deflationary risks in Europe and the low oil and gasoline prices in the US make it hard to see any inflation. Plus, the January jobs data gives the Fed room to raise rates. He sees gold prices weaker through mid-2016.

He said he would change his mind if the market starts to believe the central banks, and inflation expectations rather than headline inflation itself start to tick up. That will start to change our view on gold to more neutral.

Rohit Savant, director of research with commodities consultancy CPM Group, said gold prices could rise a touch from here. His average 2016 gold price is $1,140, saying with the Fed finally on the path of raising rates, gold no longer has that specter hanging overhead.

The problem for gold is there is no new information to push prices either way, leaving it stuck between the negative and positive factors long worked into prices, he said.

Despite gold moving to two-month highs, its not likely to be the sexy investment of a few years ago. Grady said he cant get excited about gold until it rises above $1,205 because that was an area of heavy trading activity when prices were falling, and will probably be difficult for the market to rise above.

Those are key numbers. The problem is those numbers are $100 away, he said.

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Spring Cleaning – Even for Jewelry!

As we move toward the end of a strange weather winter and look forward to this spring, we are all busy getting those nagging things in our lives in order.  Some are a definite chore, like our taxes.  Some are definitely cathartic, like readying our yards for the new bulbs and plants to bloom.  We even have a name for this time of year – “Spring Cleaning!”  We, at Ellis Jewelers, want to remind you to include your jewelry in your spring cleaning endeavors!  You may have some pieces that are in desperate need of repair, rings that need to be sized so you can wear them, loose diamonds or colored gemstones in need of a home, or just plain pieces that you will never wear again and can be sold for cash or put toward the purchase of a new piece!

Jewelry Repair

When you search through your jewelry box for those beautiful pieces you remember enjoying wearing but maybe the clasp broke or the ring is just too small or too big now (we all change finger sizes throughout the course of our lives!), remember that most can be repaired.  We are a full service jewelry store, which means that we do all types of jewelry repair.  We will give you our  repair price right in the store or if it’s a bit more complex, we will give it to our jeweler to estimate a cost.  There is no charge to our clients for the estimate, and we will never do any work unless we have your approval.  Sometimes a piece may not be worth the expense of repair.  If the piece is of sentimental value, it most definitely is worth the cost, but sometimes that may not be the case.  We are happy to advise you in this situation.  Bring your pieces in, and, together, we will take a look at them.

Selling Old Jewelry

If you are not wearing the gold and silver pieces in your jewelry wardrobe, and they are not of sentimental value, maybe it’s time to sell them.  At Ellis Jewelers, we have been buying gold and silver for nearly five years.  We offer cash based on gold and silver prices that day, as precious metal prices change from day to day.  Another option is our “trade” policy.  If you are interested in a new piece of jewelry in our store, we will increase our gold cash value by 50% toward that purchase.  A terrific opportunity to find something to replace your old pieces.  Not sure if your pieces are gold or silver??  No worries at all.  We are happy to take the time to let you know what your pieces are made of and whether or not we can buy them.

Custom Piece Design

Noticing that some of your jewelry may be looking a bit outdated?  Jewelry styles change just like clothes styles and car styles and hair styles.  Maybe you have inherited some loose diamonds or colored gemstones?  Even if they are mounted in a piece that you’re not going to wear, remember that these stones can be removed to create a brand new piece while preserving the sentiment.  Our sales associates also pride themselves in being excellent jewelry designers.  We can help you envision a new piece of jewelry from an old piece.  We have examples in the store of our custom design work and many catalogs to look through to arrive at creating something you’ll treasure.

Springtime is a great time to clean up some of our loose ends and start fresh.  It can be a great time to pull out all those fine pieces of jewelry from your jewelry wardrobe and reassess their meaning.  If you have jewelry you love you should be wearing it!  If there are things that are just sitting there, make a change!  Come in to our store, and we will listen to what you’d like to do.  We will give our best advise and find the right answers for you.  Then presto! another spring cleaning item accomplished and crossed off the list!

Just a Little Jewelry Education for You

At Ellis Jewelers we pride ourselves on being excellent listeners.  Each client that comes in to our store in downtown Concord receives the same attentive service.  We know that we need to listen to you very carefully to find out exactly what your needs are.  We also aim to educate you to on some jewelry facts to help you in your decision making, be it for choosing designing a piece of jewelry or selling us some of your old, unwanted jewelry.  Below are some facts about jewelry that you may or may not know.  We hope they come in handy!

Gold Facts

• Gold comes out of the ground with a yellow color.  Man alters gold to change its color using other metal alloys.  Some of the most common colors we alter gold to are white, rose, and black.

• 24 Karat (24K) gold is what is termed “pure” gold or 100% gold.  When gold is traded on the stock market daily, the gold is 24K.

• ALL Karat determination is based on 24K gold.  18 Karat (18K) gold is 18 parts gold and 6 parts other metal alloys.  14 Karat (14K) gold is 14 parts gold and 10 parts other metal alloys.  10 Karat (10K) gold is 10 parts gold and 14 parts other metal alloys.

Gold vs Sterling Silver

•  The value of gold is much higher based on stock market value than sterling silver.  At the time of the writing of this blog gold’s market value per ounce is $1233.50 and silver’s $19.80.  Gold is considered the more precious metal, thus the higher price.  And then, thus the higher price on gold jewelry and the higher price offered when selling your gold.

•  While white gold is silver in color, it is a completely different metal and value to sterling silver.

Diamond Facts

•  The weight of a diamond is measured in Carats.  As if to confuse us, this is a completely different meaning than Karat which is used for gold.  In addition, Carat represents a weight, not size.  In other words, not all one carat diamonds are the same size.

•  For diamonds, we truly believe that “seeing is believing.”  While listing the characteristics of a diamond, such as its 4C’s (cut, color, clarity, and carat) is a helpful guide to describing the appearance of a diamond, it does not tell the whole picture of the stone.  Picture this,  if you are house-hunting and we tell you that a house is 1800 square feet, 2 story, white, and has 4 bedrooms, you cannot tell if you like the house or not.  You must “see” it to know.  The same is true of a diamond.  You must “see” it before you know if it is beautiful and full of fire.

Jewelry Styling

•  The typical length of a chain on a necklace for a woman is 18 inches.  For some this is perfect, for others shorter or longer is better.  At Ellis Jewelers, we want you to have the length chain that best suits you.  If a necklace of ours has an 18″ chain but it is 20″ that is your preferred length, we will work hard to find you the correct chain.

•  New rings for women that we have in the store will most typically be a 6.5 to a 7.  This is the average size of a woman’s ring finger so this is the size that companies make.  For a gentleman, it is a size 10.  But there are no worries at our store.  We size all of our gold rings complimentary with no charge to you.  For our sterling silver rings, most can be ordered in your exact finger size.  If not, there is a minimal charge.

We hope that we have given you a small dose of jewelry education with the above facts.  If there are more things that you have questions about, never hesitate to ask our jewelry associates.  We are all very experienced and skilled in answering your questions informatively and to the detail that you desire.  We want you to be as knowledgeable as you can so you feel comfortable making you jewelry purchases with us or selling your gold to us.


Turning Your Old Diamond Rings and Gold into Cash or Maybe Something Else!

At Ellis Jewelers in downtown Concord, we have been been buying diamonds, gold, and sterling silver for over four years now.  We use the utmost care and expertise to sort your jewelry pieces.  Whether they are old diamond engagement rings, broken gold or sterling silver items or just pieces that you don’t wear anymore, we can help you decide what to do.  Sure, we offer cash for these items but have you ever thought of remaking or redesigning an old piece?  How about trading them for a new piece?  Our expert associates are happy to assist you to find the best choices for the jewelry that you bring in.

Remaking Your Jewelry

A woman had come into Ellis Jewelers recently and was unsure about what to do with her old diamond wedding set.  Sadly, her husband had passed away, time had gone by, and she was ready to stop wearing the set on her wedding finger.  She considered selling the set but was unsure.  In this case the sentimental value of her rings ended up being so much greater than the cash value that could be offered.  After listening to her and offering advice, together she and one of our knowledgeable associates designed a necklace out of the set. Then upon delivering it to our jeweler, the gold bands were cut off her ring (which she was able to sell back to us for cash), and the diamond portion of the ring was soldered to a gold chain that she had chosen.  The piece was polished and cleaned, and looked wonderful.  Our client was thrilled with the results and now proudly and honorably wears the jewelry around her neck.

Trading Your Jewelry for a New Piece

Many times we have clients come in with pieces of fine jewelry that they are JUST NOT WEARING.  Necklace people who have been given a bracelet or two over the years or sometimes an inheritance of gold and gemstone rings from a relative who has passed that just are not the taste of the client.  There are also those who have pieces that are broken, or that they think are just plain out of style.  They LOVE jewelry but just not the jewelry that they’ve brought in.  Typically they are looking to sell their pieces.  But when we tell them about our trade-in policy, suddenly their eyes light up.  At Ellis Jewelers we offer a client the cash value PLUS 50% toward the purchase of a piece of fine jewelry in our store.  In other words, $200 cash becomes $300 towards a purchase.  This gives our clients options to choose a new and fresh piece of jewelry for themselves.  So the necklace person can leave wearing a necklace, and the client with the outdated jewelry can leave wearing a new piece.

Selling Your Jewelry for Cash

Of course, if your main objective is to receive cash for your diamonds, gold, and silver, we are happy offer this option.  Come in at any time during our normal store hours.

Don’t hesitate to bring in your old jewelry.  Even if you’re not sure if your pieces are real diamond engagement rings or real gold or silver, we are more than happy to carefully look through your treasures to determine what you have; testing them for authenticity as we go.  No appointment is needed, and all of our associates are experts to help you decide the path you would like to take; whether it be the cash value, designing a new piece, or trading for a piece of fine jewelry that you’ve always wanted from our store selection.