United Coin and Precious Metals 950 Silverado Street La Jolla, CA 92037

We Buy Jewelry

La Jolla residents know how to get the best bang for their buck. That’s why when looking to sell gold jewelry, La Jolla residents want to know the best place to get cash for gold.

For that reason, United Coin & Precious Metals knows beautiful northern San Diego beach communities like La Jolla needs a precious metals shop they can know and trust.  As long-time locals to the San Diego region, United CPM cares about cultivating the relationships it must to best serve you, the San Diego resident.

Gold is in. The gold buying business is a highly competitive market with lots of buyers looking to earn your business. It makes sense. The price of gold has been wildly volatile. It’s even approached long-term highs in recent memory.

So, many are believing that now is the time to cash in.

Some Americans go to gold parties. These are a fun trend, where you and your friends get together and have your jewelry appraised. You can earn cash on the spot.

But, don’t be so quick.

It is important to do your homework before selling your gold, silver, platinum and palladium jewelry.

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1. Know the weight. 

Knowing the weight of your gold is of utmost importance.  Jewelers use troy ounces instead of ounces when weighing your precious metals. US scales measure 28 grams per ounce, but precious metals like gold and silver are weighed at 31.1 grams per Troy ounce.

Some dealers use a system of weights called pennyweights to measure a troy ounce, while other use grams. A pennyweight is equivalent of 1.555 grams.

What is the karatage? Pure gold doesn’t work in jewelry because it is too soft. The Federal Trade Commission requires all jewelry sold in the US describe a karat fines of the alloy. One karat equals 1/24 of pure gold by weight. So 14 karats would mean the jewelry is 14 parts gold and 10 parts other metals. Anything below 10 karats is not considered “gold jewelry.”

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2. Organize Your Karats

Know what is what. Because different jewelry pieces weigh different, it is important to know what is 14 karats and what is 18 karats. Separate your jewelry by karat before looking to sell your gold jewelry.

3.  Know the Value

Call a local jewelry store or check with an online source, such as www.goldprice.org, to verify the current market price for gold before you sell. Some dealers know people are just looking for quick cash to put in their pockets and will offer you money for your gold that is lower than the actual value.

4. Know Your Buyer

It might be best to get to know a local dealer. Coin shops often times offer very hospitable environments. You should deal with a frank operator who tells you what you have, has no problem showing scales or acid tests. The more educated a gold seller is, the better off they will be.

5. Know What You Are Selling

Some gold items may be worth more when sold as they are, rather than if they are melted down. If your gold necklace or bracelet comes from a well-known designer or maker, it may have a value to some buyers beyond the gold it’s made of.

Here are some more tips for knowing the value of your gold and silver jewelry.

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  • With a magnifying glass or a loop find a marking which will give you the purity of your material.
    • Is the marking crisp and clear? Can you easily tell that your jewelry is 14k, 18k, 22k or 24k gold? That’s a good sign for your sterling silver or gold jewelry. If it is not so crisp, then maybe – just maybe – the karats were marked by an inexperienced jeweler, or even worse someone making fake jewelry.
    • If you’re worried about whether or not your jewelry is fake, United Coin & Precious Metals can test. If your jewelry sticks to a industrial strength magnet, then, sorry, it unfortunately has no valuable gold content.
    • Then there is the acid test, which involves scratching into your gold to determine its value. We can also handle this for you.  
  • Determine Gold’s Current Value
    • At United Coin & Precious Metals’ website, you can find the current price of gold, silver and platinum. These metals are weighed in troy ounces, which is the equivalent to 31.1 grams. This means, with a scale, you will have to weight your treasure.
  • Divide the gold price by the amount of grams per ounce, 31.1
    • If today’s gold price is USD$2,000, then today’s price per gram is USD $64.30.(USD$2,000/31.1)
  • Multiply the per gram. This is so you can find the purity.
    • 10k = 10/24 = .4167
    • 14k = 14/24 = .5833
    • 18k = 18/24 = .750
    • 22k = 22/24 = .9167
  • Multiply the price per gram by the weight in grams.

Free Jewelry Appraisal in San Diego, California

At United Coin & Precious Metals, in La Jolla, California, your jewelry will be appraised in accordance to the utmost in appraisal standards. We will appraise your jewelry in front of you in a transparent manner.  No appointments are necessary, making the process as convenient for you as possible. Each piece of jewelry will be weighed, measured and described in detail.

United Coin & Precious Metals operates to the highest of standards. You will know what you’ve bought, and we will answer any questions you wish to ask us.
For your knowledge and convenience, we have prepared to jewelry selling guide to ensure you understand the process, and know as much about your jewelry as possible.

As a coin shop, many of our customers ask, “Where can I sell my gold jewelry in San Diego”? “How do I sell my diamond ring”? “who buys gold jewelry in San Diego, CA”? They aren’t surprised to hear that United Coin & Precious Metals offers top dollar on gold and silver jewelry. We buy gold, sterling silver, sterling silver flatware, platinum, gems, diamond, broken jewelry, and we pay more than other San Diego jewelry buyers.

Whether you’re wondering “where do I to sell a gold chain” or “who pays the most for gold in San Diego” -then United Coin & Precious Metals can get you the money you deserve. Sell your gold and silver to the most motivated “gold buyer” in San Diego County. We pay the most for your precious metals…guaranteed.

No matter the condition of your Sterling Silver Flatware in any condition. Bring your broken, bent, damaged, unwanted Sterling Silver and get cash. We pay cash for silver. Our customers ask “Where should I sell Sterling Silver Flatware in San Diego?”

Well, United Coin & Precious Metals is proud to announce that you can  bring your precious metals & stones, like a diamond ring, gold ring, class ring, gold or silver necklace, diamond bracelets, (or a silver bracelet or gold bracelet), brooches, pins, matching or mismatching jewelry pieces (or sets), earrings, rings (even with missing gem stones), old watches, antique watches, pocket watches, – and we will give you the best price for it, we will pay top dollar. We are the best place to sell jewelry in San Diego, CA. Please stop by our San Diego Coin Shop to get cash for your gold or jewelry!

How to sell your gold and silver

Selling jewelry can be stressful. It is important to ask the right questions, such as:
Where do I appraise my jewelry in San Diego for free

Getting you the best deal possible is important to us. We understand why people ask:
Where is the best place to sell gold and jewelry
What is my gold or silver bracelet worth
What is my silver coin worth
What is my gold chain worth
What can I get for my diamond ring
How much can I get for a silver dollar (or silver quarter)
We are constantly looking at the gold and silver stock prices as well as our competitor’s prices to give our customers the most for their gold, silver & diamonds. Please stop by our San Diego coin store.
Selling gold & silver jewelry

Our primary goal is to inform our customers of their options and the value of the items they bring in. If you are looking to sell then of course we will buy your items for the best price. We are San Diego’s Gold Jewelry Appraisal place. We have a great reputation among the people in San Diego and you can see all the comments we have received.
We offer free local appraisals for Estate Jewelry, Donation Jewelry Items including Vintage Costume Jewelry, Estate Gold, Silver or Costume Jewelry. Also, Jewelry Appraisal for Bankruptcy Court, Divorce Settlements and Insurance Purposes.

Our customers come from all over San Diego, CA

San Diego, CA
La Jolla, CA
Encinitas, CA
Poway, CA
Del Mar, CA
Point Loma, CA
Carlsbad, CA
Oceanside, CA
Pacific Beach, CA

Posted in Expert Advice | Tagged |

Increased Market Volatility Ahead Of Budget Crisis

Congress has ten legislative days to draft a budget. If there is an agreement, we will only have to wait until December for things to become interesting again, according to Treasury Secretary Jack Lew.  Continue reading

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Global Stock Market Headed For Historic Declines

After remaining in a narrow range for most of 2015, the Dow Jones fell more than 1,000 points on Monday.

“If things don’t settle down in China, we could have another ugly open tomorrow and you wouldn’t want to be caught holding positions you bought this morning,” said Randy Frederick, managing director of trading and derivatives for Charles Schwab in Austin. The Dow Jones closed at 15,871, down nearly 4%.

“Emotions got the best of investors,” Philip Blancato, chief executive at Ladenberg Thalmann Asset Management in New York, told Reuters.

“The conjecture that the Chinese economy can propel the U.S. economy into recession is ridiculous, when it’s twice the size of the Chinese economy and is consumer-based.

China’s economy is declining as has been suspected by many for some time to come. The state media called today black Monday as the Shanghai Composite closed 8.5% in the red, experiencing its worst day since 2007.

The Dow Jones Index in the US fell 1,000 points. This is the largest drop ever on the Dow, which had never lost more than 800 points in a single day.

London’s FTSE 100 declined for the 10th day in a row and is now at its lowest levels since the beginning of 2013. More than 40 billion pounds has been wiped from its books.

“Markets are panicking. Things are starting look like the Asian financial crisis in the late 1990s. Speculators are selling assets that seem the most vulnerable,” Takako Masai, head of research at Shinsei Bank in Tokyo, told Reuters.

“The equity markets are dealing with the prospect of a weaker yuan amplifying the negative impact from a sluggish Chinese economy,” Eiji Kinouchi, chief technical analyst at Japanese investment bank Daiwa Securities, told reporters.

The People’s Bank of China devalued the yuan on August 11 in order to promote “market liberalization” according to Beijing. China devalued its currency the next two days as well. This did not stem volatility, as many believe it was meant to.

The movements we’ve seen have been so fast and so large,” Peter Costa, the president of the trading firm Empire Executions, said on CNBC. “You’re talking about 75, 100-point moves in two minutes. It’s been extremely fast, and it’s happened very, very quickly.”

“Fear has taken over,” Adam Sarhan, CEO of the investment company Sarhan Capital, told CNBC. “The market topped out last week.”

People are moving to get out of the stock market. “What’s a company that’s doing business with China actually worth right now?” JJ Kinahan, TD Ameritrade’s chief strategist, informed The Associated Press. “When you’re not sure, you tend to sell.”

Donald Trump has taken the opportunity to promote his republican presidential campaign, blaming the US’s close ties to China for the decline in the stock market today.

Gold is down approximately 0.6% on the day, with silver down 50 cents to $14.75. That gold is down is counter-intuitive considering its appeal as a safehaven, while silver generally takes a major dump amid such tall economic volatility.

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Activity In Gold Market Heats Up From The West To The East

The current bear market in gold and silver miners is the worst Sprott Chairman Rick Rule has seen since the 1980s, and he believes the recovery with be “dramatic” changing with it the sentiment of the gold market. 

Sentiment all around the precious metals industry is very low. Can it go lower? That is the question on people’s minds. But this is likely not to be the case, at least much not further, and people from all over the industry are agreeing with this sentiment.  This has changed in recent weeks with gold now hitting a three week high and demand increasing for gold in La Jolla, California at my shop.

“A recovery is inevitable,” Rick Rule said.

“The mining sector cuts are not just skin deep, they are to the bone,” he said. Miners can’t afford to produce if metals prices go any lower, so if they drop from here, it means the world doesn’t want a supply of these metals, according to Robert.

Drama in the precious metals scene is on the rise, as well, with countries from all over the world demanding their gold from the US. Peter  Boehringer founded PBVV Vermögensberatung in Munich in 2003 and sits on the board for the German Society for Precious Metals. In this video he explains what is going on with gold in Germany.

Prior to 2003, he worked for ten years in various positions at international companies, including Booz & Co Inc., Technology Holding GmbH, 3i plc and the European Telecom Holding AG. Peter Boehringer has a degree in business administration and computer scientience (European Business School).

Demand is strong in India as well for gold. The recent downturn in prices has increased buying not only in India, but also in China.

Volume is big in the precious metals markets as. The Silver Institute anticipates more buying demand for silver in the coming months. More silver demand is expected.

What is Tesla’s battery uses silver? The implications would be huge. Moreover, producers are not mining gold because there is very little reason to. This will have an impact on supply once people begin chasing the gold and silver price.

At United Coin & Precious Metals we have seen this time-and-time again, and we have also seen an increase for demand in the La Jolla area in recent months. If you want to learn more, feel free to call us at 858-412-6462 to discuss with one of our precious metals consultants today.

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Kennedy Half Dollars in La Jolla, California

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The Kennedy half dollar, first minted in 1964, is a fifty-cent coin currently issued by the United States Mint. Intended as a memorial to the assassinated President John F. Kennedy, it was authorized by Congress just over a month after his death. Use of existing works by Mint sculptors Gilroy Roberts and Frank Gasparro allowed dies to be prepared quickly, and striking of the new coins began in January 1964.

The silver coins vanished from circulation upon their release in March 1964 due to collectors, hoarders, and those interested in a memento of the late president. Although the Mint greatly increased production, the denomination was seldom seen in circulation. Continued rises in the price of silver increased the hoarding—many early Kennedy half dollars have been melted for their silver. Starting with 1965-dated pieces, the percentage of fine silver was reduced from 90% to 40% (silver clad), but even with this change the coin saw little circulation.

In 1971, silver was eliminated entirely from the coins. A special design for the reverse of the half dollar was issued for the United States Bicentennial and was struck in 1975 and 1976. In addition to business strikes, special collector coins were struck for the Bicentennial in silver clad; silver proof sets in which the dime, quarter and half dollar were struck in 90% silver were first minted in 1992. In 2014 a special edition of the Kennedy half dollar was also struck in 99.99% gold.

Even though ample supplies of circulating half dollars are now available, their circulation is extremely limited. Since 2002, Kennedy half dollars have only been struck to satisfy the demand from collectors, and are available at a premium through the Mint.

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Mexico Has A Long History With Silver

One of our favorite coins is the Mexican Silver Libertad, because it is recognizable and beautiful. Mexico has a long history with silver. I was doing some reading recently when someone suggested I read an article about silver tourism in Mexico. I am not sure if this is actually a thing, but it definitely piqued my interest.

The article came from a travel website, but gave a good summary of the history and importance of Taxco, Mexico, and silver. As the author wrote:

“Taxco, Mexico is a major silver town in Mexico, where silver has been both mined and crafted into jewelry, silverware and other items, for centuries. It is this history of silver that has made Taxco a tourist destination, even as the only major mining operation winds down operations. The city is considered one of Mexico’s ““Pueblos Mágicos” (Magical Towns) thanks to the quality of the silverwork, the colonial constructions and the surrounding scenery.An American actually made the city’s silver history popular again in the 1920s, who created silver design workshops and exported items to the United States.”

At United Coin & Precious Metals, we have a good stock of the Silver Libertad, as well as some other coins from Mexico. I myself am actually thinking of making the trek to see this epicenter of silver.

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Global Selloff Good For Gold

Gold demand has picked up in La Jolla in recent weeks, with many old customers coming in for bullion deals. Rare coin buyers and sellers, as well, have come out as if portending of what could be a busy six months to the end of the year in precious metals.

The stock market has had some issues in recent weeks, so it is still unclear exactly what will happen there. The uncertainty is good for precious metals, but still, too early to tell.

“I still think the market is in sell-rally mode and will test lower levels once the rate hike appears to be a certainty,” said Steve Scacalossi, director of TD Securities’ Global Metals group in New York.

“However, I think it will become a huge bear trap as the pace of rate hikes will be slower than anticipated and I expect higher prices by end of year.”

People are still holding out hopes for the retail economy despite a declining dollar in the longterm.

“In terms of data, investors really want to be sure that retail sales are also good this week. They don’t want to run ahead of themselves,” ABN Amro analyst Georgette Boele said, referring to the scheduled release on Thursday of U.S. retail sales for May.

“I don’t think the fall in gold is over,” said Afshin Nabavi, head of trading at MKS. “We’re not seeing any kind of real interest on the physical front, so for me it points to an eventual breach of $1,150.”

Investors are nervous in the market.

“There is a general nervous tone to markets today that is favorable for gold,” said Bill O’Neill, a broker at Logic Advisors.

“This looks like more of a one-day rally, with the general trend of lower prices continuing,” Mr. O’Neill said.

So long as the global selloff continues things are looking good for gold.

“As a global sell off in stocks invited a ‘flight to safety bid’ to precious metals,” said Tyler Richey, an analyst for the 7:00’s Report.

“South Africa’s importance in terms of gold has been diminishing for years…Last year, the country was the world’s sixth-largest gold producer with 145 tons, which equates to 4.9% of global mining production according to the WBMS,” gold strategist wrote.

“Nonetheless, a prolonged strike could have an impact on supply and prices,” Commerzbank strategists said.

 

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Why Bitcoin Is NOT Gold!

Nathaniel Popper’s Digital Gold talks about gold as if it is Bitcoin. Many bitcoiners say that Bitcoin is like digital gold. But there is osmething these bitcoiners are missing. Bitcoin is not digital gold. It is a nice analogy, but really what it comes dangerously close to is a marketing device meant to mislead people into thinking Bitcoin is something that it is not.

Bitcoin is comprised of code and manmade programmed mathematics govern how many bitcoins there ever will be, but when it comes to gold and silver, God and nature have decided how much gold and silver there will be.

Bitcoin is not tangible like gold is tangible. Many people argue that bitcoin is tangible, that I can hold it on my computer, but considering everything the world has learned about the NSA, it is painfully clear that, in this respect, Bitcoin does not stand up to the test like gold does. I can hold gold, like cash, and transact with it not online. This is something gold does not do.

Bitcoin is five years old. Gold is thousands of years old and has been money forever. This fact alone makes these two assets fundamentally different. It is here you start seeing the manipulative ways of bitcoiners.

What is gold? Here is Wikipedia’s definition:

Gold is a chemical element with symbol Au (from Latin: aurum) and atomic number 79. In its purest form, it is a bright, slightly reddish yellow, dense, soft, malleable and ductile metal. Chemically, gold is a transition metal and a group 11 element. It is one of the least reactive chemical elements, and is solid under standard conditions. The metal therefore occurs often in free elemental (native) form, as nuggets or grains, in rocks, in veins and in alluvial deposits. It occurs in a solid solution series with the native element silver (as electrum) and also naturally alloyed with copper and palladium. Less commonly, it occurs in minerals as gold compounds, often with tellurium (gold tellurides).

Wikipedia’s definition of Bitcoin:

Bitcoin is an online payment system invented by Satoshi Nakamoto,who published the invention in 2008 and released it as open-source software in 2009.The system is peer-to-peer; users can transact directly without needing an intermediary.  Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain. The ledger uses its own unit of account, also called bitcoin.  The system works without a central repository or single administrator, which has led the US Treasury to categorize it as a decentralized virtual currency. 

The only thing tangible here is the palpable difference between gold and silver! And THAT is a good thing.

Bitcoiners should embrace how Bitcoin is different from gold, instead of reducing themselves to gimmicky marketing tactics like calling Bitcoin digital gold. There can be truly be no digital gold.

Posted in Blog

Gold One Of Many Commodities Falling Today

Gold is not the only commodity falling  and its “largely thanks to dollar strength,” according to Tyler Richey, an analyst for the 7:00’s Report.

“Gold broke out last week as investors interpreted mostly soft economic data as reason for the [Federal Reserve] to delay “rate liftoff” to the end of 2015 or even out to 2016,” he said. “However, after … [the] strong housing starts number, and with multiple other reports due out later this week with optimistic results expected, the uptrend in gold is being tested.”  Continue reading

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What’s Going On With The Gold Price?

Gold prices saw their highest level in three months as doubts about Greece’s ability to pay its debts spurred investors. But that’s not the only reason why the gold price has been volatile. Read to the bottom to learn more…

“We have limited time now, limited time and still a very important job to be done,” Pierre Moscovici, the European Union economics commissioner, told reporters at a briefing.

This is leading to a higher gold price.

“What you’re seeing now is gold driving higher on the uncertainty of what’s next, and what happens when they get to the next cliff,” saidBob Haberkorn, a senior commodities broker with RJO Futures in Chicago.

“There’s a lot of strength in gold based on Greece,” he said.

Then there’s the algos, which affect markets in many ways.

“The algos use similar sorts of momentum-driven models — it can all be liquidity in the same way, particularly around economic data releases or when gold prices are at well-identified technical levels,” one gold market participant says.

“Real money funds investment people just aren’t playing the gold market, central banks, the whole lot of them aren’t trading the gold market the way they used to,” David Govett, head of precious metals at trader Marex Spectron, says.

They are investing less, leaving more room for algos to take over and wreak havoc.

“A lot of the trading centres around the fixing and the futures market. London has already seen that massive decline in trading liquidity and volumes,” Ross Norman, head of broker Sharps Pixley, says, referring to the twice daily gold auction used to set a price. “The fix has more prominence than ever given the spot rate has less of a role.”

Chinese demand will likely change this.

“We will undoubtedly have a Chinese fixing price before the end of the year and we will see a rapid development of a Chinese gold options market — they’ve got a very deep liquid lending market and so the idea that liquidity is moving east is correct,” one market participant says. “They do need to take stock of where the London market is going and what role it’s got to play going forward.”

Do you have any questions on the price of gold? Contact United Coin & Precious Metals today, or stop on by our La Jolla shop, for your one stop shop for precious metals in San Diego County.

Posted in Blog
World Spot Prices
(Updates Every 30 Seconds)
-1.37

Gold

Bid: $1,921.51
Ask: $1,922.51
0.02

Silver

Bid: $25.64
Ask: $25.74
6.49

Platinum

Bid: $962.17
Ask: $967.17