SAVANNAH, GA (WTOC) -
If you've ever gone through your closet or dresser and found some old jewelry you don't wear anymore, now is the perfect time to cash in. Before doing so, there are several criteria you need to be aware of to ensure you get the most bang for your buck.
Brian Jordan opened Gold Buyers of Savannah almost two years ago and explains how the cash for gold industry works.
"You have the person that comes in and sells the jewelry. Then you have us, which is the gold store. We sell it to a refinery, they sell it off to brokers. Then after the brokers, you have wall street," he says.
But before he can sell it, he has to make sure it's legitimate, and that process has several steps.
"We run it through a series of tests that will let us know whether it is real or fake, and then we weigh it up and we'll pay you by the gram of each karat."
While Jordan takes these tests very seriously and wants his customers to get the most money they can for their gold, not all cash for gold places do.
Effingham County Sheriff Jimmy McDuffie says if you plan on cashing in your gold or precious metals, use caution.
"Be careful. Try to do some research on what the price of gold is selling for."
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