Diamond district, W 47 st

Not in the Diamond district - but I discovered that if you take your old gold to a jeweler who deals directly with the refiner, you get a better price. Just about every pawn shop is buying gold, but it really does pay to go to the pros.

Klim Jewelry on 66 West 47th street in NYC is ok, but to max out gold value to cash you can buy up to something you want like diamond jewelry or a nicer gold chain. West 47th street in New York City is the main place to go, but there are shops around that area so walk around. They mostly have long reputations to protect so they will not screw you if you know what you are doing. Shop around for best price. Don't let them suck more than 10% off actual gold content value. Items not clearly marked in carat are the items they will argue about. If its marked you should get near its value. Deal in cash. use grams, penny weight and troy ounces. 24 carat is 100% gold. 1 troy ounce is 31.1 grams. 20 Dwt (penny weight) is one troy ounce. Philadelphia has its diamond row near the Independence hall, they have fewer stores but will also buy gold for cash. expect to be finger printed in some cases. The more reputable stores what to assure its not stolen. Have to go weekdays from 9-5 to get best stores open FYI, in both places.

Anyone ever had dealings with Canal Street jewelry vendors? Always wondered whether they were reputable.

My friend bought some jewelry from a street vendor on Canal St once and it broke a week later. Thankfully she only paid $10 for it.

@uraniumfish we actually went into Luk Fook jewelers in Canal Street yesterday. My husband wanted a slimmer wedding band to replace his thicker platinum one. They didnt have his size but were willing to order it for him. Luk Fook is an NYC outpost of a huge Hong Kong chain so I guess they are okay but we didnt order the band so I cant give more information.

The only point I can make here is that you really do have to be careful with what you buy. Some stores will rip you off. Unless you have Internet on your cell phone, you normally can't check out a store or company before you purchase anything. I was told that one way to know if the stuff the store sells is good, is by looking at the size of the store, its condition, and the atmosphere. A friend of mine told me that if the store is well kept, they care enough about their appearance so as to please their customers.

I would recommend Diamond Scene in the diamond disctrict if you are looking to BUY or SELL jewelry. The store is very nice, if you are selling you don't have to deal with these shady characters on the street who only buy for a living. They have been my jewelers for over 10 years and recently were written up in the New York Times for giving the best price on gold. We traded some gold in towards jewelry but there were people that just sold gold for cash. All in all a great place to buy or sell. Here is their info... Diamond Scene 9 West 47th St. Located in Diamond District. 646-366-8998 www.diamondscene.com

@JeffK: Thanks for the tip. Maybe one day when I am ready and my girlfriend is to, I'll go there to price an engagement ring.

You should sell your gold to Andrew & Peter Fabrikant Fine Diamonds of Manhattan. Their staff is very nice and easy to work with. Plus they offered me more than any other jeweler or cash for gold place I visited.