BEWARE " WE BUY GOLD" signs.

As I write this today , 14k Gold has a scrap weight for once ounce at 1811.00 is 1056 dollars.
That is 20 DWT ( penny weight)
31.1 Grams

So 1 Penny weight is 52.84

When you are going into a "WE BUY GOLD" place you will generally be confronted by someone who does not sell to the general public, they are accumulators themselves or they are sending stuff off the the refinery, or they are creating their own items from your gold, either way the amount of money they are going to offer you is criminally low most of the time.
Example today in my hometown I was having a battery put into a watch and I asked the owner, how much are you paying per gram for 14 K Gold. His response was classic.. " We do not buy by the gram we by according to DWT ( Penny Weight)

Now many of you folks have been in school and know what a gram is but most have not been schooled on Pennyweight math. When we go online and search for coins or gold almost no one sells or buys based upon DWT. Troy ounces, yes
Grams.. YES but DWT?

The issue is not the difficulty but rather the need for exact understanding of what is being bought and sold without undue complications which is what the guy buying wan to use to basically get you to GIVE him your GOLD at a fraction of the Value. "WE BUY GOLD". is a FAUX statement for we offer you possibly HALF of the value you are bring to us and we are going to use our special pawn dealer, jewelry store lingo and bait and switch toget you to think you are getting a great deal. NOTHING COULD BE FURTHER THAN THE TRUTH.

THE "we buy gold" Guy was willing to pay me 26 dollars and change for 52.84 in 14K per DWT.
Absolutely no consideration was given to workmanship , stones or rarity, antiquity . I have been into a host of shops over the years THERE NEVER IS. I have known jewelry shop owners through the years as personal friends and have asked them about the practice and it is just a given in the industry that we BUY in DWT.... but we SELL in GRAMS or even Ounces. its marketing and a very easy way for them to prey on the ignorant. Bringing Silver Coins to them is even a greater way to loose your shirt. Silver dollars that sell anywhere for 25-30 (90%) or more will offer you Possibly 6-10 Dollars and then wind up in the same case in a week or two at premium or in a regular customers collection, but YOU my friend will get almost nothing. if there is a Mint mark or a rarity, you have better know about it BEFORE you enter the "WE BUY GOLD DEN"
Even watching the s called PAWN STARS on television should be able to let most honest people see just how shady dealers can be.

a 6 gram wedding ring has $217.41 cent of Gold in it

that is 3.86 Penny weight,,, Do that math quickly in your head.. and understand that the offds that you will have an even number in DWT is slim to none. you MIGHT walk out with about $100

Now walk in and ask about buying the same gold ring in the same weight and expect to pay well above $300

Did the ring have any precious stones on it? a Ruby or an Emerald or even a Diamond? Watch the dance, if you say NOTHING, the stone will be a gift to the WE BUY GOLD GUY. if you say something he will try to convince you they are common and essentially worthless and offer to cut them off and give them back to you. They almost all have a JEWELER that works with them or they do it themselves and use your stones to make a killing on others with your stones.

LESSON , NEVER SELL TO A WE BUY GOLD GUY. unless the same guy is willing to SELL to you some one theGold he is buying from folks off the street and you can se the spread between the two prices.

HERE IS A COLD AND SILVER CALCULATOR: https://www.goldcalc.com/scrap_gold_value.php

ALWAYS ASK: If I want to buy this item back from you and you still have it, how much will it cost me?
NEVER PAWN your GOLD or Silver coins

I knew two extremely fair dealers in Florida years ago that sold strictly by weight and true rarity and they were in the same town. they paid a certain price over spot and all the items went into a case and were for sale at a certain markup. It was very fair and honest, and great deals could be had as VOLUME became the issue and everyone could make money.

Marks Jewelry and Pawn
Guns and Gold, both in Belleview Florida.

( they both will deal in DWT but understand GRAMS and are extremely honest to deal with ( I get no endorsement for this and have not personally shopped in their stores for over 12 years)

I guess what I am trying to share with you all is that one needs to be careful and knowledgable. If you are in need of selling your items that is you want to buy or sell your silver or Gold honestly, open an EBAY ACCOUNT and pay the 10% fee (approx). take great pictures and spell correctly and you will be far more satisfied with the outcome almost all of the time.