What Can I Sell?
Gold is gold no matter what the format: jewelry, watches, nuggets, coins and even grandpa’s dental fillings. These items retain their value because of their precious metal content. Ditto with silver, platinum, palladium and rhodium.
UGX buys all precious metal jewelry, scrap, coins, rounds, ingots and bullion in any denomination. Our currency experts can determine whether your items have collectable value even beyond their precious metal content and we are happy to purchase these items also.
What if it's Broken?
Broken or outdated jewelry may not sell at Tiffany’s but it still keeps its value in precious metal. Remember, selling your gold, platinum or silver is all about – and only about – the purity (in karats) and the weight (in grams) of your items. And because gold is quite valuable these days, even the smallest piece is significant.
How Do I Know if it's Real?
Gold is identified by its karat rating. In the world of diamonds or emeralds a carat is the measure of the weight of the gemstone. In the realm of precious metal, karat is the measurement of purity. Real gold jewelry is usually stamped somewhere with the karat rating (10K, 14K, etc.).
Since gold is inherently yellow and soft as well as extremely valuable, goldsmiths often mix gold with other metals to achieve a desired strength, color and worth. Rose gold is achieved by mixing with copper, white gold by mixing with nickel and so forth. Regardless of the mixture, the karat rating determines the amount of pure gold that is present.
Silver is identified by its percentage rating. Real silver jewelry is usually stamped somewhere as ‘925’ (equals sterling which equals 92.5% pure).
Because precious metal items are not always stamped correctly and since magnet tests are not always reliable, we recommend bringing your items to UGX for professional evaluation and appraisal.
What is the Buy/Sell Process?
The basic process involves appraising your precious metal based on purity and weight; an offer is then made based on the current spot price. At Upstate Gold Exchange our appraisers will:
- Test your items with a magnet to detect simulated jewelry
- Identify and separate your items into purity categories (10K, 14K, …)
- Weigh each category and calculate an offer
- Chemically test your items to determine authenticity
- Copy your driver’s license and get your signature (SC Statute 40-54-40)
- Pay you fairly and fully in cash!