Items to Bring to the Gold Party: Precious metals, antique coins and antique paper money
I WILL buy anything gold that is 10K, 14K, 18K or higher. I WILL buy scrap or good gold jewelry such as rings and school rings, bracelets, charms, twisted or broken neck chains etc., even gold teeth!
I MAY buy certain “gold filled” items such as watch chains, watches, old eye glasses etc.
I WILL buy Sterling silver jewelry, but it’s probably worth more to you as jewelry than as scrap metal since gold is currently about 45 times more expensive than silver.
I WILL buy platinum or palladium jewelry
I WILL buy sterling silver items such as “silverware,” serving trays, candlesticks etc. I do NOT buy SILVERPLATE since it has only a thin coating of silver and it costs more to remove the silver than the metal is worth. Almost all of the trays, platters, coffee sets, and other serving pieces people own are silverplate rather than sterling. If it’s real sterling, it will be marked “sterling.” If you can’t find a mark, and want me to look at it, bring it along to the party.
I WILL buy gold coins.
I WILL buy silver coins (typically 1964 and older) such as silver dimes, silver quarters, silver half dollars (before 1971,) silver dollars (1935 and older); also silver “rounds” or ingots (bars). Canadian coins before 1968 also contain silver.
I MAY buy old coins in general, US and foreign, such as Indian pennies, Buffalo nickels. Some older foreign coins are made of silver. I’ll take a look at what you have and decide if it’s something I have a market for. I MAY buy proof sets and old paper money, depending on the year and condition.
I MAY buy watches: vintage wrist and pocket watches. Some are worth a lot, even if they are not gold. Some may not be desirable or saleable (such as Timex) but you will get a free opinion of value if it is not something I buy.
What do you do with the gold?
Like all other gold buyers, most of the material we buy is melted down into pure gold and recycled. Unlike most other buyers, we are a private, non-franchised business and have an account with a national refinery. This means we don’t go through a middle man. We deal directly with the refinery, so we pay more than typical jewelry stores and other gold buyers.
How much do you pay for gold?
Our price calculation changes daily and is based on the market price of gold. We have checked a wide cross-section of gold buying sites in the area to insure that we are tied with the top payers. The hostess commission is in lieu of advertising and store overhead since we do not have a “brick and mortar” location. Most jewelry stores, coin shops and pawn brokers pay 10-30% less than us, sometimes half or less! They have to pay rent, advertising, utilities, employee salaries, etc. The “mail your gold” companies on TV pay a tiny fraction of what we do. They spend all their money on those costly TV ads!
Do you pay different prices for different karats of gold?
Yes. Each contains a different amount of gold mixed with alloys. Items will be sorted into groups of 10K, 14K, 18K etc. Then we weigh the items and give you a price.
What about diamonds?
We don’t buy diamonds. The typical jewelry store mark-up on jewelry, including diamonds, is 400%. For that reason, if you take a diamond ring back to a jeweler, they commonly offer less than 25% of what you paid. Small accent diamonds have minimal value; wholesale is a dollar or two per point. If you like, we will remove the diamond from your ring so you can have it remounted into another piece of jewelry.
What about other gems?
Common gemstones like amethyst, citrine, garnet, topaz, peridot etc. can be purchased new for a few dollars a carat, sometimes for less than a dollar a carat. After a stone has been worn, it usually has abrasions and nicks and really has no commercial value, so it is customary for gold buyers to deduct for the weight of the stones. We save out a small percentage of jewelry to take to antique/collectibles shows, so if a piece is in great condition we occasionally save the piece for resale and will pay the stone’s “weight in gold.” If the stone has no value to us or if you want it back, we can remove stones for you in most cases.
Lowell Ling : Home # 585-343-1130; Lowell Cell # 716-474-2431; Kay cell # 716-560-2977
Lowell’s Background: Antiques dealer for over 25 years specializing in precious metals, coins, watches and clocks, country and primitive items, antique radios, vintage hi-fi equipment, guns and military collectibles etc. Lowell is trained as a watch and clock maker and has been collecting coins since he was six.
We have held over 600 Gold Parties since July of 2008. We are full time professional precious metals buyers. We paid out over 2.5 million dollars to customers in the last two years. In March 2010 we were featured on Channel 10 news in Rochester.
We pay more than the jewelry stores and other gold buyers because we have less overhead and we work on a small profit margin. We have done numerous parties as fund raisers for charitable organizations, churches and senior centers.
Host a Gold Party, have FUN and earn $$$$$
What’s a Gold Party? It’s along the lines of a Tupperware party, only instead of inviting friends over to buy items and spend money at your party, they bring items to your party and go home with cash! They can bring unwanted gold or sterling silver jewelry, sterling silver flatware or serving pieces. Silver is about 45 times less expensive than gold, so silver jewelry is typically worth more to the owner than its metal value, but we do buy it. We purchase silver US coins (1964 or earlier) and gold coins, too. Many vintage watches are made of gold, and some vintage mechanical watches are still valuable even if they aren’t made of gold, as long as they are high quality and a desirable brand. Guests can bring vintage watches along to find out if they’re something we want to buy.
Preparing for the party is simple. The hostess invites her friends by phone, email, or written invitation and asks them to RSVP a week in advance of the party. A reminder call a couple days in advance is wise. A group of 10-12 is typical. Larger groups are fine but the party may run longer than normal if you have 20 or more. We recommend using an Open House format. For example, tell your guests they can come between 6:00 and 9:00 PM, and they will be taken in turn. If several come at the same time, it is helpful to have a “sign in list” to establish whose turn is next. If any of your guests have a conflict of schedule and can’t attend, they can drop off the items they wish to sell, either earlier in the day, or the day before the party. During the party we evaluate their items, calculate the purchase price, then you can phone them with the total if they wish to approve the amount prior to selling the items. We leave their cash and a receipt with you, and they can pick up their money at your mutual convenience.
Now for the best part: you as the hostess will receive a commission paid based on the dollar volume of items purchased. Typically, the hostess receives $200 - $500 for the evening. Everyone goes away happy at a gold party. The guests go home with cash for items they no longer want, and the hostess makes an attractive commission. And if that isn’t fantastic enough, if anyone attending your Gold Party books a Gold Party of their own, you’ll get a $100.00 referral fee after the conclusion of their party, provided a minimum of $2,000 in merchandise is purchased at their party, or a $50.00 referral if $1,000 to $2,000 is purchased.
There’s a simple contract that sets forth the terms and conditions. We’ll sign the contract at the conclusion of your party.
One final matter:
Your guests need to bring their driver’s license as ID. We ID all guests as a precaution against buying stolen goods, and they sign our purchase form certifying that they are the legitimate owner of the items they are selling. In the case of dropped off items, the hostess can sign on the seller’s behalf, and we will use the hostess’s license and certification for our form. We ask that the hostess note the name of the actual owner/ seller below her signature. We do not hold parties within the City of Rochester or Buffalo limits due to additional, extremely restrictive requirements imposed by these cities in their efforts to prevent the sale of stolen merchandise. If you have guests who would like to host their own party, but they live in the city, we suggest that they find a friend or relative that lives in the suburbs and host the party at the alternate location.