Gold | Oakton Coins & Collectibles

At Oakton Coins & Collectibles, we buy gold in many different forms — from jewelry and coins to bullion and scrap. Whether you’re selling a few items or a larger group, everything is evaluated in person with a clear explanation of how value is determined.

Most people who visit are not gold investors. They’re bringing in items from estates, downsizing, or things that have been sitting unused for years. Gold tends to accumulate quietly over time — often in the form of jewelry, old coins, or mixed items.

How Gold Is Valued

Gold prices are often discussed in terms of the “spot price,” but that number is only a starting point. What you are paid depends on several factors:

Purity (10k, 14k, 18k, 22k, etc.)
Weight
Type of item (jewelry, coins, bullion)
Market conditions and demand
Refining and resale considerations

Gold is generally more stable than silver, but buy/sell spreads still change depending on market conditions. During periods of volatility, pricing can adjust accordingly.

We go through this process step by step so you understand exactly how your items are evaluated. You can also review the live gold and silver price page for context.

Types of Gold We Buy

Gold comes in a wide range of forms. Some items are straightforward to value, while others require more evaluation.

Gold Jewelry

We buy gold jewelry of all types, including:

Broken chains and single earrings
Outdated or mismatched pieces
Rings, bracelets, necklaces, and scrap

Most gold jewelry is valued based on its gold content. If a piece has additional value (diamonds, designer, or estate), that is considered separately. Learn more about gold jewelry vs gold coins.

Gold Coins

We purchase a wide range of U.S. and foreign coins.

Common examples include:

Pre-1933 U.S. gold coins (Liberty and Saint-Gaudens designs)
American Gold Eagles and Gold Buffalos
Foreign coins such as Krugerrands and Maple Leafs

Some coins trade strictly for their gold content, while others carry additional numismatic value depending on rarity and condition.

Gold Bullion

We buy gold bullion in the form of bars, rounds, and investment-grade coins.

These are typically valued closest to the underlying gold price due to their known purity and strong resale market.

Scrap Gold

“Scrap gold” refers to any gold item being sold for its melt value rather than as a finished product.

Dental Gold

Dental gold is often overlooked but can contain a meaningful amount of gold.

How the Process Works

Gold is evaluated in person at our Skokie shop. No appointment is needed.

Sort items by type and karat
Test and verify purity
Weigh everything
Explain how the value is calculated

If you choose to sell, payment is made immediately.

A Note on “High Prices” and Online Offers

Mail-in services and pop-up buyers often advertise high payouts, but the process can involve delays or unclear pricing. We keep everything straightforward by evaluating items in person.

Working With Customers From Across Chicago

We regularly work with customers from throughout Chicago and nearby suburbs. Many people choose our Skokie location as a simpler alternative to downtown. We also evaluate silver, coins, and mixed estate items.