Olathe Trading Post & Pawn has been buying gold and silver for twenty years. We know it is just better to conduct business with honesty, integrity and an outstanding reputation. That is why all of our gold and silver bids are based on a consistent formula – not crazy lowballing.
Our customers have found we pay some of the best prices in Olathe and know that we treat you with respect and dignity. In short, Olathe Trading Post & Pawn will give you the fairest price for your precious metals, giving you an excellent Olathe gold buying (or selling) experience.
Our Gold Buying Process
Finding a place in Olathe (or even the Kansas City area) that buys gold and actually explains their process to the customer is nearly impossible.
Many gold buying merchants like to keep their pricing methods secret- so then they can grab the low ball deals from people that do not know any better.
We do things a bit differently.
The first thing our pawn shop does when you bring us some gold or precious metals is we determine what you are looking to get. This is not to establish a place of negotiation as much as to make sure we are not wasting your and our time. Someone who is looking to sell their wedding ring that cost them $2,000 at a jeweler isn’t going get the same $2,000 because they paid a premium markup percentage to the jeweler.
It will waste our time if someone comes in expecting something that we can’t do – so its good, before we go through our entire gold testing process – to make sure all expectations are realistic.
Is it Really Gold?
Once we establish the expectations are realistic, we test the gold (and other metals that we buy) a variety of ways – including but not limited to:
- Visual testing with a high powered microscope
- Acid testing
- Conductivity testing
This ensures us (and you) that you are holding something of real value.
Our Standardized Gold Buying Process
After we test the gold and verify that its real, we base all of our gold buys on a strict mathematical equation. This helps assure you that we will be giving you consistent prices, helps our staff make a consistently fair offer and takes the guess work and “lowballing” out of the equation.
The math equation includes the following elements:
- The price of gold at the moment of the gold buy.
- The type of gold you have (14kt, 10k, ounces).
- How heavy your gold is in pennyweights.
How Can We Pay More For Gold?
First – we sell jewelry in our shop. So while many other gold buyers are strictly paying you for the melt price, Olathe Trading Post & Pawn is paying you a bit more for the jewelry mark up. You can learn more about this concept in our article “Cash for Gold or Olathe Trading Post?”
Second – Our process is fair, transparent and just gives you a better percentage of the golds value than the other places. After 20 years, we have built a reputation as being the best place to sell gold. Because we are able to buy larger quantities of gold in Olathe, when we do melt it down, we have larger quantities to melt! This means we get better prices at the refinery than smaller gold buyers – and that gives us better gold buying overhead.
Thanks for reading!