How much could I get for a 14k/ 20 gram gold chain? I have one that was in the family jewelry box that im thinking of selling tomorrow, but I have no idea where to start. I don't want to overcomplicate things so im thinking of just taking it to a cash for gold place & see what they offer me, but I have heard of them being lowballing the hell out of people.I understand they are a business and need to make profit as I am a businessman too (in a different field of course) but theres a point where profit turns into taking advantage of someone. Do all gold places pay the same? Is negotiation possible at all? Is Craigslist trouble for selling gold? (I very frequently use CL so im not asking if its trouble using this site at all, a lot of people are scared to use it but Im from the "hood" so I know how to protect myself, I understand the risk as I have met all types of aggressive people im asking specifically for gold) Anyone can feel free to add any extra info. Thanks!
24k (pure) gold is currently worth $1,596/troy ounce. A troy ounce is 31.1 grams. 14k gold is 58.3% pure gold and has a meltdown value of about $30/gram, so your chain would be worth about $600. Be careful, as many of these cash for gold places only pay you about 50% of its true value. Most local jewelers pay you 75-85% of the meltdown value. Another place I found with fair prices is West Coast Gold Buyers from Southern California (www.wcgoldbuyers.com) and they do have some Bay Area offices.