Selling gold can be an attractive way to turn unused or broken jewelry and coins into cash. In Denver, you can find many outlets to sell your gold, from well-established family businesses to reputable online buyers. Understanding how to evaluate your gold and how to select a trustworthy buyer in Denver can significantly increase the amount you can get paid for your precious metals. This guide, written by a former jeweler, offers a comprehensive approach to sell gold in Denver, featuring top-rated local gold buyers and essential knowledge to maximize your payout amount.
Understanding the value of your gold!
Before comparing local gold buyers in Denver, it is fundamental to understand how the value of your gold is being calculated. This fairly easy to understand process typically involves assessing your gold’s weight, the purity, along with the current market price of gold -buyers and members of the trade often referred to the gold price as the spot price.
The Purity: Gold purity is stated in karat, with pure gold being 24k (999/1000 fine = 99.9% pure gold). In the US, the most common gold purities are 10k, 14k, and 18k gold. Most gold jewelry has a mark that indicates the purity – stamped in karat (KT, K, KP). Most items will carry the gold mark pretty visible. Exceptions may be marks on thin earring posts or inside a ring (on the shank) as they may wore out.
Use a scale to weigh: Use a precise scale to weigh your gold. Be sure to remove or deduct non-gold elements like stones, pearls, steel or packaging in order to get an accurate weight.
Current gold price: The gold price fluctuates based on market conditions (impacted by factors like inflation, interest rates, world politics, and other market moving events). Stay updated with the current gold price by checking financial news outlets like Kitco, Reuters or Bloomberg.
Once you know the weight, the purity (karat), and the current gold price, calculating the true value of your gold is easy as 1-2-3. This is the formular you will use for doing the math: weight x purity percentage ÷ 31.1 x gold price per ounce = current gold value
Top 7 Gold Buyers in Denver
Denver is home to multiple gold buying businesses – some with great reputation. Here’s a list of the top 7 gold buyers in Denver, known for their excellence in service.
AWARDED BEST LOCAL GOLD BUYER!
Rocky Mountain Coin
538 S Broadway, Denver, CO 80209
As one of the preferred gold buying business in Denver, Rocky Mountain Coin is recognized for extensive expertise in rare coins and precious metals. Owned by Klaus J. Degler, Rocky Mountain Coin has collected hundreds of positive reviews for transparent selling transactions and industry leading payouts. One reviewer praised, “Honest and fair with great attention to detail.” Known for its broad inventory and knowledgeable staff, Rocky Mountain Coin stands as a pillar of reliability in the Denver area.
The business is managed by Klaus Degler who is respected to be one of the leading experts in rare coins in the United States. The business is also known for being able to buy significant estates and collections worth hundreds of thousands of dollars.
Dillon Road Coin & Jewelry
3800 W 144th Ave, Suite B-1000, Broomfield, CO 80023
This business is appreciated for its friendly service and commitment to fair pricing.
Oxford Gold Group
1700 Broadway, Denver, CO 80290
A highly reviewed gold buyer, Oxford Gold Group specializes in a wide array of precious metals, promising competitive rates.
Denver Gold Buyer
710 Kipling S, Lakewood, CO 80215
Known for their personalized service and fast selling transactions, Denver Gold Buyer is worth to visit for your comparison.
Colorado Gold Mart
1450 S Santa Fe Dr, Denver, CO 80223
Colorado Gold Mart is recognized for transparency and prompt payment, making it a reliable choice to sell your gold in Denver.
All American Coin & Jewelry
5255 W 48th Ave, Denver, CO 80212
Antique Row
1450 S Broadway, Denver, CO 80210
How to ensure that you will get paid what your gold is worth?
To determine the reliability of a local gold buyer in Denver, consider the following steps: research reviews and recommendations, check for industry memberships, visit the store, request an offer.
Look for online reviews and ratings on platforms like Google, Yelp, BBB, or Trustpilot. A reputable gold buyer will have a significant history of positive customer feedback. Make sure to look out for fake reviews. Fake reviews are usually easy to identify.
A serious gold buyer will operate in a clean facility, featuring a safe environment. Don’t hand out your assets if you don’t feel comfortable or safe.
Gather multiple appraisals and offers from several buyers is a great way to ensure getting paid a fair price for your precious metals. A comparison-approach will also highlight any discrepancies in appraisals between different buyer and will immediately reveal who is a running a trustworthy buying business.
Local in Denver or online on the internet?
When considering where to sell your gold, local gold buyers offer immediate cash payments, while online platforms provide higher prices but a slower selling transaction due to the fact that shipping is involved in the whole process.
While local gold buyers offer a same-day payment and personal negotiations, the offered payout amount is usually lower if compared with an online gold buyer. Opting for an online gold buyer will result in a higher payment that will involve more bureaucracy and time. For everyone owning a significant amount of gold, selling online may be the way better way to liquidate. Take a look at the award winning online gold buyer.
Spotlight on Rocky Mountain Coin & Klaus J. Degler
Rocky Mountain Coin, owned by Klaus J. Degler, is a standout in Denver’s gold buying businesses. With over three decades of experience, Degler has elevated Rocky Mountain Coin as the most trusted coin and gold dealer in the community. Reviewers frequently point on Rocky Mountain Coin’s fair offers and expert knowledge, with one stating, “The staff is knowledgeable and guided me through the selling process smoothly.” The personal touch that Degler brings, combined with his firm’s industry expertise, underscores their reputation as a reputable Denver gold buyer.
Our final thoughts!
Selling gold directly in Denver to a local buyer can be a straightforward and rewarding process when you are prepared very well by knowing how much your items are roughly worth. While Denver offers strong local selling options like Rocky Mountain Coin, consider getting a second opinion by exploring online buyers to maximize your payout.