New England Gold & Silver

I love it here! The owner is friendly and knowledgeable, once you walk into the store you feel as though you’ve stepped into a posh boutique. Let’s face it, atmosphere and appearance matter. Brian definitely utilizes every inch of the store. Prices are quite reasonable. I definitely will be going back!!!

This is for those who are thinking of selling gold. I think about all the hapless little old ladies and humble people who must have gotten ripped off by less scrupulous businesses and want to scream and punch things. NE Gold and Silver was by far the most thorough and generous in terms of pricing of all the gold buyers I approached, and Brian was very patient in explaining the details of the shadowy gold market. This is where I chose to sell my precious metal and this is where I’ll return if I choose to sell more
Short version:
Know your gram weight and also the daily gold price before you sell. Bring a calculator. Don’t sell your gold at Becker’s in Hartford or Lux Bond & Greene. Their quotes are criminal; they profit off people’s ignorance. Their unstated sales commissions were over 50% of the gold value.
If your gold is complicated, i. e the karat stamp doesn’t match the results of acid testing, take it to a buyer who can price it according to x-​ray testing. I live closer to Providence than Hartford, and so took mine to New England Gold and Silver in Pawtucket. They were patient, more than fair, and not only did they make the effort to determine the true purity of my gold, they offered the best price of all (proportionate to the daily gold price and purity).
Tl;dr version:
1. I had a heavy gold bracelet that belonged to my grandmother. Long story short, a gemologist in West Hartford claimed to test it but didn’t. He said it was as stamped, 18 karat (it wasn’t), and had a full value of around $ 1935. He did prime me with the rest of what I needed to sell it though.
«If you can’t get $ 1600 for it, come talk to me,» he said.
2.Becker’s
$ 900 stated offer ÷ $ 1935 value = 46.5% of value offered (based on 18k)
Gold buying commission: 53.5%
3. Lux Bond & Greene
$ 655 stated offer ÷ $ 1505 value = 43.5% of value offered (based on 14k)
Gold buying commission: 56.5%
4. DeRobertis
$ 1460 stated offer ÷ $ 1935 value = 75% of value offered (based on 18k)
Gold buying commission: 25%
5. {a depressing espresso in West Hartford}
6. Pawn Queen gold buying commission: 23%
$ 1160 stated offer ÷ $ 1505 value = 77% of value offered (based on 14k)
7. The next morning, a Saturday, I made a number of calls to gold buyers within an hour of where I live right now, the CT-​RI border. Later that day I drove to New England Gold and Silver in Pawtucket, as they had been the most straightforward and had quoted the best price. Small boutique, with a jeweler’s workshop behind glass. Once more, the bracelet tests 14k, not 18k. And then from Brian, the proprieter, I got a quick lesson in gold purity testing: though most gold buyers use acid tests, all they do is tell you whether the gold has a certain percentage or not. They are yes/​no. They can tell you whether or not you have at least 58.3% gold (14k), 75% gold (18k), but not if you have anything in between.
Most refiners, on the other hand, use x-​ray testing, which is more accurate and can tell the true composition, not just whether or not it contains at the least 58.3% or 75% gold. What distinguished Brian’s shop from the others is that he offered to have the refiner, who comes a few times a week, perform an x-​ray test on Grandma’s bracelet, and then offered to price it based on those results, not the clumsier acid test results. So I left the bracelet with him and his lovely assistant. I tell them about the quotes I’ve received. They are shocked. I speculate that it’s because I look like a woman on the edge of a nervous breakdown. They assure me I look great.
The following Monday I get a call. The bracelet is neither 14k nor 18k, it’s around 65% gold, which would be like 16k and worth around $ 1677. Gold prices have fallen significantly over the course of the week but he’ll quote me $ 1400, based on Friday’s closing prices. I drive in as soon as I can and have a check in hand, happy to have participated in a business transaction conducted with honestly, integrity and surprising generosity. They made very little money off me and my Grandma’s gold at the end of the day, as far as I can tell, yet were patient and attentive in all our transactions.
Again, as far as I can tell, in every instance possible, this business arranged the sale fairly: by having the bracelet x-​ray tested, by using favorable gold prices, by pricing the bracelet at 65% purity although the safety chain was 14k, and just in general by ensuring I was making an educated sale. Why? I’m not sure. Professionalism?
New England Gold and Silver buying commission: 16%
$ 1400 stated offer ÷ $ 1677 value = 84% of value offered (based on 65% purity, which was accurate)

I had a bag of «junk» jewelry that I wanted to get rid of but was a bit intimidated about going to a pawn shop. I saw this place online and they seemed pretty reputable so I gave them a try.
You have to realize that Pawtucket is a pretty rough area, but this place is right on a main street and it’s a secure building. They have a private area in the store where they will discuss with you what you have and how it’s determined what karat it is.
I’m not sure if I got the best price but I’m confident that I got a fair deal. He even bought my fake stuff too, which was great because I was afraid that I would just have to take it back and that would have been kind of embarrassing.
They also have a large selection of jewelry for sale. I didn’t look too much at them but it like like great quality.
The guy I saw was Brian. He was really nice. At first look he seems kind of stuffy but he was really funny and made the experience nice. I’ll definitely go back.

I was looking to sell a broken necklace and this place offered the most money by far.
I highly recommend New England Gold and Silver.