Get the Most for Your Gold

Don't get short-changed when you're ready to get some money for your gold jewelry

Lots of people are putting extra money in their pockets these days by trading in their gold jewelry for cash. If you decide to do that, shopping around for the best price is important, but you should also make sure you know the laws in your state. That way you'll know if the jeweler you negotiate with, is following them.

In Pennsylvania and New Jersey, gold buyers must:

  • Post the price of gold daily
  • Keep scale for weighing gold in plain view of seller
  • Weigh gold in front of seller

In Delaware, precious metals buyers do not have to post gold prices and they do not have to weigh the jewelry in front of you.

NBC10 consumer producer Alexis Leonard shopped one piece of jewelry around in all three states, going to two stores in Delaware, three on Jewelers Row in Philly and two in South Jersey. The prices she was quoted varied as much as $500.

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