If you live in Lexington, NC or Davidson County and are thinking about selling gold, you’ve probably wondered: how do I know I’m getting a fair price? The answer comes down to knowing where to go, what questions to ask, and understanding how gold is valued. Here’s what every Lexington resident should know before selling gold.
1. Know the Current Gold Spot Price
Gold is priced in real time on the commodities market. Before you sell, look up today’s gold spot price — you can find it on sites like Kitco.com or APMEX.com. The spot price is quoted per troy ounce. No dealer pays 100% of spot (they have to make some margin to stay in business), but a reputable dealer will pay close to it.
At Apex Gold Silver Coin, we typically pay 75–90% of gold melt value depending on the type and quantity of gold. Pawn shops in Davidson County typically offer 30–50%. That difference on $1,000 worth of gold could be $250–$400 more in your pocket by choosing the right buyer.
2. Understand Gold Karat and Purity
Gold jewelry is rarely pure gold — it’s mixed with other metals for durability. The karat marking tells you the purity:
- 24k = 99.9% pure gold (most bullion)
- 22k = 91.7% pure (American Gold Eagles)
- 18k = 75% pure (fine jewelry)
- 14k = 58.3% pure (most common US jewelry)
- 10k = 41.7% pure (minimum legal “gold” in the US)
A reputable buyer will test your gold’s purity in front of you and show you the calculation. If a buyer isn’t willing to show their work, that’s a red flag.
3. Avoid These Common Mistakes
- Selling to the first buyer you visit — Get at least two evaluations before deciding
- Going to a mall kiosk or popup gold buyer — These temporary operations often pay the lowest prices because they have high overhead and short-term profit motives
- Assuming pawn shops give fair gold prices — Pawn shops are generalists; precious metals specialists pay significantly more
- Selling sentimental pieces too quickly — Take your time. A good buyer won’t pressure you
- Not knowing what you have — Some items have collector value above melt. A coin dealer can spot coins that are worth more for numismatic reasons
4. What to Bring When You Sell Gold
When you visit a gold buyer in North Carolina, you’ll need to bring:
- A valid government-issued photo ID (required by NC law for precious metals dealers)
- All items you want evaluated — even broken or damaged pieces have value
- Any documentation you have (original purchase receipts, appraisals, box and papers for watches)
Your Best Option Near Lexington NC
For Lexington and Davidson County residents, the best nearby option is Apex Gold Silver Coin in Winston-Salem — just 20 minutes from Lexington via Hwy 64 West. We have been buying gold for over 20 years, we are fully licensed and bonded, and we consistently pay some of the highest rates in the Triad.
Stop by at 605 Walnut St SW, Winston-Salem, NC — no appointment needed — or call us at (336) 505-9503 to ask questions before you come in. We’re open Monday–Friday 10am–5:30pm and Saturday 10am–3pm.