You see it advertised all the time on TV or over the radio: establishments trying to get you to come in and sell gold in Toronto for cash. If you’re looking for some extra money or are down on your luck, you might be tempted to try and get rid of some of your old gold coins and jewellery, but it would be a mistake to just trust anyone. Even if they’re a name that you hear advertised a lot, you might find that these buy-your-gold stores are actually pretty shady. When you enter into them you’re not treated like an actual guest, but rather their next vulnerable target. They don’t even bother to properly appraise the value of your gold and instead just toss out a number hoping you’ll take cash on the spot for it.
The whole practice revolves around taking advantage of people who need money quick. How can you even trust an establishment that simply hands you a wad of cash for your item like it’s a deal done from the back of a truck? Better to look elsewhere when it comes to selling your gold in Toronto.
Trusted Canadian Brand
Check out Muzeum in Toronto – they’re the storefront of the Great Canadian Roadshow, a travelling group of appraisers who go to communities across Canada offering free evaluations on all coins, paper money, gold, silver, jewellery and other items like collectables and memorabilia. Using a vast network of collectors they are usually able to find buyers for these items and offer the seller a cheque on the spot.
Their storefront is operated in a similar way, except that it’s not on the road and always there when you need a friendly face to walk you through selling your items. The establishment is welcoming, and the experts on-site are patient and informative, ready to answer any question you might have.
All appraisals are done right in front of you and when checking for precious metals they will examine them for hallmarks, use a strong magnet, and then finally confirm the purity with X-Ray Fluorescence (XRF) machine technology. From there, they determine a price based on the following factors:
- Whether they are rare or collectables
- What the current market prices are
- Purity of the items
- Total weight of the lot you bring in
These factors ensure that you are getting the best prices – and if you ever find a better written offer, they’ll even up their price by %10.
Do Your Research
It’s easy to walk into a store and hand off your gold for some cash, but that doesn’t mean that what’s easy is what’s best. Always check out the reputation of the establishment you want to visit first before even entering, that way you’re saving yourself from getting ripped off. At establishments like Muzeum who have a solid reputation, you won’t have to worry about being taken advantage of. Trust a long-standing Canadian brand to buy your gold – no one else can give you a better price, anyway.