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Who pays the highest price for scrap gold, silver? Try these 3 buyers.

Posted by: John Ewoldt under Financial Planners Updated: February 16, 2011 - 2:23 PM

Are a lot of us selling jewelry and silver to raise a little cash lately? Just when I think I can lay to rest the whole "who's paying the most for gold in theTwin Cities," I get a spate of e-mails asking for the info again. Many of them are also asking about silver. I've listed my three favorites,

 

 

I took a few pieces of gold jewelry around to various gold sellers last year and then followed up in January. In order from highest paid: Enviro-Chem (763-428-4002), Independent Precious Metals (Spring Lake Park, 763-300-1003) and W.E. Mowrey (1435 W. University Av., St. Paul, 651-646-1895).

The Gold Guys, on the other hand, consistently paid less. Although Gold Guys advertise that they pay the highest prices, guaranteed, that's only if you bring them a better offer in writing. And they won't quote prices by phone, unlike the three companies listed.

As for anyone wondering what the online or mail order places pay, save yourself time and a lot of money and sell locally. Consumer Reports found that the mail order companies pay less than average.

Some readers are asking, what about silver? You can take silver pieces into any of the three places I listed. Doug Rooney at Independent Precious Metals said that he pays about $500 to $2,500 for a sterling silverware set, depending on weight. A silverplate set, on the other hand, might be worth only about $20.

If you've found a Twin Cities spot that offered you more than any of the three buyers listed above, please share it, but your credibility will be a lot better if you used Enviro or IPM in your comparisons. 

 

 

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