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26Nov

Where To Sell Your Gold

Want to Sell Your Gold Locally in Edmonton? There are a few things to consider before selling your gold in Edmonton. There are plenty of options out there, so it's…read more →
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What to Expect When Selling your Gold

A lot of people are surprised when they first come into our stores. It is a very pressure-free experience. Watch this video to hear Charlie and Greg talk about what to expect when welling your gold.

Stirling:  Now if i walk into one of the four stores and there's one in Victoria, we should hasten to add Greg.  Am I going find like old accordions and guitars on the walls I have in my mind’s eye when I think of  buying and selling gold.  I see for some reason  I'm thinking pawnshop and I don't know that that's the right thing to go to in my mind's eye, but that's what I see. Tell me whether I'm right or wrong.

Greg: Yeah, I think a lot of people are really surprised when they come into one of our stores ... they're  gonna find the experience to be very, very pressure-free. It’s not a pawn shop, no accordions or guitars on the wall.

Stirling: Who knows, right? I have to ask.

Greg:  We’re not the guys from the uh... from the pawn kings, you know reality shows that you see. Our  stores are setup to facilitate.. it's a financial transaction.  Our offices are professional, they're located in very convenient  areas of town and our staff there are highly trained to specifically to test for precious metals for gold and silver.  Right, and when you come into our store,  I mean there's really no expectation that that you  know exactly what is it that you are bringing in.  We have all the tests instruments onsite uh... it's helpful if you know um... the different carats of your jewelry you know

Stirling: ..but most of us don’t

Greg: Well yeah most people don't and it's really not a big deal you can tell you that we can sort through it.

Stirling: So Greg, you’ve been involved well obviously you weren't there at the beginning but you've been brought in now that the business is expanding and as the regional manager here in in the lower mainland and ...  when people come into the to one of the stores ... talk to us about the kind of experience an individual (has) Suppose now,  I’m someone who  I've just described I’ve been doing my (grumbles)  spring cleaning and by gosh, I’ve found a big of a nugget here so now all that work may just be worth something so I decide. Listen, I’ve heard this thing on the radio. I'm going to go to Vancouver Gold and see what happens.  What will happen when I show up at one of the four stores in metro Vancouver with my newfound largesse, I hope?

Greg:  Well the first thing is you wouldn't have to book an appointment. You just you can gather up whatever it is that you’ve got. Whether you have a sneaking suspicion maybe it's gold or you know for sure uh... bring it in and we’ll sit down with you and  go through the tests with you face to face. We’ll show you all the steps and there are a number of steps. With some items, it's a little more straightforward than others but   basically there's a few different tests that we would go through it right uh... customer in-store depending on what you've got.

Stirling: So Charlie is it just precious gold or are we are talking to other precious metals like silver and is some accommodation for diamonds and jewelry?  Or is it just gold because that's what the company's called: Vancouver Gold?

Charlie:  No, we also buy the main precious metals which are gold, silver, and platinum. We do deal in some Palladium, although we don't see a lot of that.  For the precious stones, the only one we've been able to buy is the only one we’ve been able to find real market for and that’s diamonds.

Stirling: So it is popular

Charlie: Exactly, the ones with the real high value there.  So we do have a gemologist.  She’s a certified gemologist. She's in our stores a couple days a week. She's one that has to look at the diamonds as the grading process . Testing for that is basically pretty thorough and in depth to figure out the value of one of those stones, so we buy you know all the precious metals plus diamonds over a quarter karat in size.

Charlie:  Like Greg was saying, we recommend people know what to expect when they come into it us gold buying store, because we recommend that for anywhere they go.  If they come in to us, the intention is you know you don't need to know what you have. We're going to separate that by 10 karat by 14 karat by whatever the purity of gold is ... but knowing that, you know people are going to be dealing with everyone, including us. Let’s say you’re listening on the radio as a potential customer you want to careful so we recommend everyone, if they know what they're expecting that day they have some idea coming into any gold buyer. The amount of knowledge that the store has the professionals kind of out-balances,  out-weighs what the customer knows so I think there's a lot of responsibility there.

Stirling: I think we should interject at this point because I have refrained from doing so up until this point but this is the appropriate spot. Charlie, yours is the only gold buying and selling company in British Columbia that enjoys the Better Business Bureau designation of approval.  What do you do differently that everybody else doesn’t - according to the Better Business Bureau.

Greg: Yeah. Well I mean our company acted just to be accredited by the Better Business Bureau mats and that’s in the lower mainland, by the way. They put any company through a fairly vigorous process to be accredited. In our case because they hadn't accredited any other gold buyers before they were extra m vigilant with us so it was a matter of calling customers -  making sure that customers were happy .The Better Business Bureau actually spoke with  customers  that we've dealt with.

Stirling: They weren’t content to take your word for it.

All: (laughing)

Stirling: They went right to the customers and said: “Ok, for real, were you well served and everybody said:  Well, sure we were.”

Greg:  And they also look at the number of total customers that the company has served, versus the number of complaints that they have received. We’re fortunate in that we’ve actually received no complaints at all by the Better Business Bureau. This is after serving almost fifty thousand customers in Vancouver over the course of several years.  We haven’t had a single complaint to the Better Business Bureau.

Stirling: Well, you know I could go on and on,  but you know when the folks at the Better Business Bureau do the homework for all of us and end up with the seal of approval on Vancouver Gold then chances are you do you know and it's just a tremendous peace of mind figure  and it says right on your newspaper ads - sell your gold with peace of mind and I think dealing with the company that has the absolute approval of the Better Business Bureau is going to give any customer a great deal of peace of mind.

Stirling: Greg,  there's something that you have as part of your gold purchasing planned at Vancouver Gold, when a customer comes in you have something called are 150% guarantee. What's that mean?

 

Greg: Yeah, so we have a guarantee... it basically just shows that we do stand behind our prices ... you know we  offer very very competitive payouts.. for anything whether it's jewelry or coins... bullion.. teeth..anything. So what we do is;  should a customer come and get an estimate from us and decide: no, we're gonna go somewhere else get another estimate from another company.  If they get an offer -  in writing - from another gold buyer locally within a certain period of time. I believe it’s 1 week.   We will actually, not only match that price, we’ll beat it by 50% of the difference.

 

Stirling:  Oh, Okay. So you are competitive and determined to stay that way. Nothing wrong with that.

 

Charlie:  We started as probably the only place locally that advertised prices.  We put up those prices,  not because they mean something to everyone who's shopping but because that's something we can stand behind and you can kind of compare and look at.  Our price guarantee, it goes a little bit beyond just prices though because we wanted to be also based on our testing. If you bring in the same piece to  two different people, one place might claim a higher price for 14 karat gold, but tests that piece at a different level depending on,  you know; what their testing methods are, how safe they want to be with  that. So, we have our testing based on, you know, now we give an estimate, someone else gives an estimate. We are so confident that our estimate going to be should be higher than that that we will match, we’ll beat those prices.

Stirling:  Well, interesting.  Well, again you’re talking about  buying or selling gold with peace of mind and that's really important to a lot of people so again when you offer up that sort of a guarantee and then you got the protection or certainly the endorsement of the Better Business Bureau again these are all factors that contribute greatly to an individual's peace of mind - no question about that. You talk about your prices. You post your prices, so anybody can go have a look. When you go to a situation where when you see a price range where we’ll will pay anywhere from 5 to 15 dollars a gram and you see that range and that's as close to posting a price as that gold outfit is doing. What does that?  What should I read into that or what should II take from that range posting instead of we pay bang per gram.

 

Charlie:  Just be careful, basically. That's why we suggest kind of knowing what you have going into it because maybe they maybe they are going to be a little higher for those higher karats but chances are you're going to get low balled if you don't know what you're doing – if they give a range.

Stirling: So knowledge is power.

Charlie: Knowledge is power. Absolutely.

Greg:  The range is going to go with the purity of the gold too.  We provide a an exact pricefor each purity but that price is based on the amount of pure gold in the item.

Stirling: And does this come in the form of a written.. here, thank you for  submitting this, we've tested it, here's what we found and here's what we think your  stuff is worth based on the testing and our findings and here's the bottom line. Is that all given to the client in a written form?

Charlie:  Absolutely yeah.  We provide them with a when they sell, they leave with a

breakdown of everything we've tested; the weight, the purity and another thing to mention with prices -  they do change every day with the current market value.

Is There Silver in Old Candadian Coins

Right up until the 60s there was actual silver content in Canadian coins. Watch this video to learn more about which Canadian dimes, quarters and half dollars might have valuable metals in them.

Stirling: .. and Greg.. Charlie just mentions loonies and quarters.... you also buy.

Because we're also talking about teeth and old jewelry and all the rest of it, but you actually do buy gold coins because back in the day we made Canadian money with real precious metal content, didn’t we?

Greg:  back in the day uh... anything that was a dime and up - so quarters, dimes uh... they had half dollars and silver dollars of course too. Right up to halfway through 1968, they had some silver content and it was the mid- sixties were there starting to phase-out silver.  So if you've got anything from sixty eight or before.. and we see lots of coins from the 50s and from the mid-60s, 67– that was the centennial year.

Stirling: I was just back in Ontario recently and my mom, who is a bit of a hoarder, has this incredible collection a fifty-cent pieces. Now, of course; they haven’t been made for decades, but she has this enormous collection of fifty cent pieces and I said to her: you know it's probably worth a few bucks..ah but it’s  just sentimental value I mean they don't make them anymore it's kind of - I know it's worth money but i think if I  just hang onto them because they're not made any more, they’ll become even more and more valuable.  Is that the case Charlie?  Or should she had down to the Peterborough Ontario equivalent of Vancouver gold and find out what they're worth? Because I said: Mum, I’ll bet you you’re sitting on a whole lot more money than you think you are. Is that the case?

Charlie: Probably. These coins are worth, you know – at the silver value which is kind of the.. if they have value for their rarity or numismatic value,  they could be worth more.

Stirling: That’s a whole other thing.

Charlie: We’ve got books to help look that up and stuff, but you know things from the fifties and sixties the last year's there's just so many of them in circulation but those are worth just melt value. To be honest, most years before that the people bring in are just melt value as well. The price of silver, it roughly tracks with the price of gold.  So it’s had the same the same kind of huge growth over the last ten years that gold has had and these coins. The fifty cent coin is worth depending on the year roughly eight dollars

Greg: Again, it depends how much silver is in it?

Stirling: Exactly, and probably the older, the more valuable the coin because there was more silver content.

Charlie: Yeah, exactly

Stirling: .. the further back you go

Charlie: They range from the sixty eight coins only are 50% silver, the twenties and before 92% silver.

Stirling: The real deal huh?

Charlie, Greg:  Yeah

How We Test Your Gold Jewelry

Interested in how we test your gold jewelry to determine what it is worth? In this video we explain the different steps we take in finding out the value of your gold or silver jewelry.

Stirling: Sometimes on the actual piece Charlie, you'll see stamped 18k or 10k or whatever.  That's the clue that you have as the uninitiated civilian that you may have an idea what karat this gold thing is but not even on all pieces even have that stamp do they?

Charlie: That’s precisely right, they don't all have the stamp. The stamp is, if it's there you can probably trust it. The problem is though it even if it was there, it's often rubbed off or you know it's so small that you can't really see.  We have a little jewelers’ loupe that kind of everyone in the business uses  to find those stamps. That's obviously not the only thing we go with for our testing either. That's the first step.  That's the best thing for, you know,  people if someone asks us you know; What do I  expect when I come in?  That's probably the best first step to check their stamps and know what they are expecting.  We have all our prices posted online ... by.. the prices breakdown by karat so that the more pure your gold is, the higher karat, the more you're going to to get per gram.

Stirling: So Greg, you’ve been involved well obviously you weren't there at the beginning but you've been brought in now that the business is expanding and as the regional manager here in in the lower mainland and ...  when people come into the to one of the stores ... talk to us about the kind of experience an individual (has) Suppose now,  I’m someone who  I've just described I’ve been doing my (grumbles)  spring cleaning and by gosh, I’ve found a big of a nugget here so now all that work may just be worth something so I decide. Listen, I’ve heard this thing on the radio. I'm going to go to Vancouver Gold and see what happens.  What will happen when I show up at one of the four stores in metro Vancouver with my newfound largesse, I hope?

Greg:  Well the first thing is you wouldn't have to book an appointment. You just you can gather up whatever it is that you’ve got. Whether you have a sneaking suspicion maybe it's gold or you know for sure uh... bring it in and we’ll sit down with you and  go through the tests with you face to face. We’ll show you all the steps and there are a number of steps. With some items, it's a little more straightforward than others but   basically there's a few different tests that we would go through it right uh... customer in-store depending on what you've got.

Stirling: So Charlie is it just precious gold or are we are talking to other precious metals like silver and is some accommodation for diamonds and jewelry?  Or is it just gold because that's what the company's called: Vancouver Gold?

Charlie:  No, we also buy the main precious metals which are gold, silver, and platinum. We do deal in some Palladium, although we don't see a lot of that.  For the precious stones, the only one we've been able to buy is the only one we’ve been able to find real market for and that’s diamonds.

Stirling: So it is popular

Charlie: Exactly, the ones with the real high value there.  So we do have a gemologist.  She’s a certified gemologist. She's in our stores a couple days a week. She's one that has to look at the diamonds as the grading process . Testing for that is basically pretty thorough and in depth to figure out the value of one of those stones, so we buy you know all the precious metals plus diamonds over a quarter karat in size.

Stirling: I was going to ask you about this, and thank you for opening the door. What’s the difference between white gold and I guess, yellow gold for lack of a better way of describing it? What's the

difference between the two?

 

Charlie: Yeah, the main difference is the alloy it’s mixed with. So the gold you're buying as jewelry is almost never a pure gold. If you get 24 karat gold, it's always yellow, it’s the same color always.

But when you have  10 karat gold as Greg mentioned earlier 41% of that is gold and 58-59% say,  is other metals. So if you mix more silver in there, you're gonna get more white gold colour, so that's the main difference.  What else is in there?  10 karat Yellow gold, 10 karat white gold - to us has the same amount of gold in it was worth the same amount , it might have a little more silver. They sometimes will plate yellow gold to make it appear white and that's kind of a different situation, you could probably still call that white gold, but that's a different alloy, a different mix of metals or just a coating to make it white.

Stirling: but pure gold is generally yellow.

Charlie: Yeah, the colour of gold is that yellow gold colour.

Stirling: Okay, right, so I’m curious about that  because white gold is certainly popular as a jewelry setting uh...metal isn't it?

Charlie: Absolutely. Yeah, it kind of goes through cycles.  White gold is really popular right now a lot of the old stuff..we do see mostly yellow gold because we are seeing a lot of stuff from the 70s and uh... really old stuff but we do see at all we do buy it all and it’s totally acceptable for us.

Where To Sell Your Gold

Want to Sell Your Gold Locally in Edmonton?

There are a few things to consider before selling your gold in Edmonton. There are plenty of options out there, so it's best to do a bit of research and make sure that you know exactly what you're selling, what it's worth, and the value you're getting from your Edmonton cash for gold dealer.

As a BBB Accredited member of Canada Gold, the nation's largest group of neighbourhood gold buyers, Edmonton Gold Buyers adheres to the industry's highest ethical standards of transparent testing, measuring and pricing, as well as an up-front market-based payouts for all gold, silver and platinum.

What is the Best Way to Test Gold in Edmonton?

We have hired local precious-metals analysts in Edmonton, AB to test your gold and offer on-the-spot payouts. Testing is necessary in order for us to offer the highest-possible payouts. Why? Just because your gold is stamped 10k or 14k doesn't necessarily mean that's the true karat of your gold. We use state-of-the-art techniques and testing equipment to determine your gold's purity as a percent of its total mass.

Our company has tested more gold and put more money in Canadians' pockets than any other gold buyer. We are proud of this and always strive to earn your repeat business and referrals.

Can You Show Me How to Test Gold?

Sure! Our Calgary Gold office was recently featured on CTV demonstrating some of our testing techniques. Have a look!