New cash-for-gold shop opens in downtown Canton

This week gold topped $1,400 an ounce in worldwide trading markets. The ever-increasing value of precious metals means you may have hundreds of dollars in unused jewelry just collecting dust at home. That’s when you turn to NCT Gold Buyers at 525 Washington Street.

Co-owner Corey Tobias pictured in front of NCT Gold Buyers

Nick Carbone opened the store with business partner and friend Corey Tobias two months ago after Carbone realized the number of people bringing cash for gold to the pawn shop he also runs in Pawtucket, Rhode Island.

“Giving out cash for gold is one of the main aspects of our business in Rhode Island,” Carbone said. “Gold is at an all-time high, and everybody has a whole bunch of stuff that is just piling up that’s worth a lot more money than they actually think.”

In opening the shop in Canton, Carbone, a 2005 graduate of Stoughton High, aimed to cater to that middle- and upper-class clientele who has old, rarely used jewelry lying around — jewelry they could convert to cash.

“A lot of places you’ll go into, they’ll have bars on the windows,” Tobias said. “It’s not a friendly type of place. We wanted to create somewhere where somebody from a higher income area would feel comfortable coming in.”

As a physical storefront, NCT Gold Buyers is able to distinguish itself from cash for gold send away companies.

“You see the commercials all over the place for cash for gold,” Carbone said. “People don’t know who to trust because they tend to think that they’re being scammed, and usually they are.”

But Carbone and Tobias work to be up front with clients throughout the entire process, explaining how they determine whether the products are actually gold and then weighing said pieces in front of the clients.

In addition to gold, NCT Gold Buyers accepts platinum and silver jewelry. The value of the jewelry is determined mostly by weight, so the company gladly accepts broken or otherwise not wearable pieces. But Tobias said they are able to give higher payouts for items the company can resell. In the coming months, NCT Gold Buyers will be unveiling a jewelry showcase with some of the best pieces of bought jewelry on display and for sale.

So far, reaction in the community has been good. Carbone said business has been even busier than he expected, which he credits in large part to the store’s high payouts when compared with other cash for gold businesses.

“We’ve had many clients who say they’ve been offered much less at other stores,” Tobias said. “I don’t ask them how much they got offered, and after I come right off the bat with an offer for say $750, they’ll say, ‘Oh, they only offered me $500 down the street.’”

So the business partners encourage clients to shop around at other local stores to see the dramatic difference in payout between locations.

“We just tell them, make sure you shop us last,” Carbone said.

NCT Gold Buyers is open Monday-Thursday 10 a.m.-7 p.m., Friday 10 a.m.-5 p.m. and Saturday 10 a.m.-4 p.m. For more information, call 781-821-4653 or visit www.nctgoldbuyers.com.

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Posted by Jeffrey Cattel on Mar 31 2011. Filed under Business. Both comments and pings are currently closed.