How to Sell Gold in Baltimore | Gold Lagoon
How to Sell Gold in Baltimore:
A Guide from Gold Lagoon
We've been buying gold in Baltimore for over 30 years. We've seen people leave thousands on the table because they didn't understand the market or didn't know who to trust. This is what we wish you knew before you sold.
We Buy Gold, Silver, Diamonds & More
Single pieces, full collections, and estate sales all welcome.
Not sure if we buy it? Text Allen a photo at 443-991-0727 and find out in minutes.
How Much Is Your Gold Actually Worth?
Coins and bars
Straightforward: look up the spot price and multiply by weight and purity. A 100-gram ".999" bar = 100g × 99.9% pure gold.
Jewelry
Trickier — gold is mixed with other metals. Find the hallmark stamp inside rings, on necklace clasps, or earring posts:
- 10K = 41.7% pure gold
- 14K = 58.3% pure gold
- 18K = 75% pure gold
- 24K = 99.9% pure gold
Gold-filled ("1/10 14K GF") has a thin gold layer — worth 5–10% of solid gold. Gold-plated is base metal with coating — minimal value. Designer pieces (Tiffany, Cartier) may be worth more than scrap. Broken jewelry has the same value as pristine. The metal is the metal.
What percentage of spot price is fair?
- Fair local buyer: 75–85% of spot price
- Pawn shops: 60–75%
- Gold parties: 50–65%
Example: 14 grams of 14K gold, spot price $80/gram
Pure gold: 14g × 58.3% = 8.16g Melt value: 8.16g × $80 = $653
At 80% (Gold Lagoon): $522 At 65% (pawn shop): $424 At 55% (gold party): $359
Same gold. $163 difference. That's why shopping around matters.
Where to Sell Gold in Baltimore
| Pawn Shops | Jewelry Chains | Gold Lagoon | Online / Mail-in | |
|---|---|---|---|---|
| Payout | 60–75% | 65–80% | 75–85% | 70–85% |
| Speed | Same day | Same day | 15–30 min | 5–7 days |
| Testing in front of you | Sometimes | Not always | Always | No |
| Written quote | Rarely | Sometimes | Always | Yes |
| Pressure to decide | Medium | Low | None | None |
| Hidden fees | Possible | Possible | None | Possible |
| Walk-ins welcome | Yes | Sometimes | Yes | No |
| Best for | Cash today | Quick & easy | Best value + no surprises | Convenience |
We take 15–30 minutes because we do it right. You're watching, we're explaining. That's not slow — that's thorough.
How to Avoid Getting Ripped Off
Jewelry swap scams — a real Baltimore problem
Someone approaches you in a parking lot, places fake jewelry on you while removing your real gold. By the time you notice, they're gone. Sell to a fixed shop — not a parking lot or hotel event.
Red flags inside a shop
- Back-room testing — real testing happens in front of you, always
- Unit switching — quoting pennyweights, paying in grams to create confusion
- Hidden fees — testing or processing charges taken from your payout
- Pressure tactics — "this offer expires today"
- No written quote — you need documentation
- Won't explain their math — if they can't show the calculation, walk out
Green flags
- Testing done in front of you, every time
- They tell you the exact percentage of spot price they're paying
- Written quotes you can take home with no expiration
- Fixed location with an established reputation
- No pressure — they're confident in their prices
Five questions to ask before you sell
- "How do you test for purity?" — acid test or X-ray, in front of you
- "What percentage of spot are you offering?" — should be a clear number
- "Can I watch the scale and testing?" — should be yes
- "Will you put the offer in writing?" — should be yes
- "Are there any fees?" — should be no
If you don't get straight answers, leave.
What Happens When You Come In
Walk in any time Mon–Sat 10AM–5PM. No appointment needed.
- Bring your gold and an ID. That's all you need.
- We sort and examine everything while you watch.
- We test in front of you — acid test or X-ray. You see the method and the result.
- We weigh on a calibrated scale. Grams throughout. You see every number.
- We calculate and explain. Weight, purity, today's spot, our percentage, your total. We show our work.
- You get a written quote with no expiration and no pressure to decide on the spot.
- If you sell, we pay same day — cash, check, Zelle, or wire.
- You get a detailed receipt for your records and taxes.
The whole process takes 15–30 minutes.