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At Gold Investor Research, we spend most of our time looking at where people actually sell precious metals, not just where they buy investment products.
Lake Worth Gold Mine is a walk in gold and jewelry buyer located at the intersection of Lake Worth Road and the Florida Turnpike in Palm Beach County.
The shop has operated since 2010, buys gold, silver, platinum, diamonds, watches, coins, designer handbags and collectibles directly from the public, and pays on the spot.
We looked at its licensing, its pricing approach, and how it stacks up against a typical pawn shop before writing this review.
Key Points
- Lake Worth Gold Mine buys precious metals and jewelry outright at prices tied to the daily spot market and pays at the time of the transaction, with no mail in envelopes or waiting period.
- The shop holds Palm Beach County and Florida Second Hand Dealer licenses, carries a certified scale permit, and is BBB accredited with an A+ rating.
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What the Shop Actually Buys
Lake Worth Gold Mine markets itself as a general precious metals and luxury goods buyer, not a single category pawn counter. The categories below come directly from the shop's own site.
| Category | Examples |
|---|---|
| Gold | Jewelry, estate pieces, designer gold, broken or outdated scrap |
| Silver | Jewelry, flatware, holloware |
| Diamonds | Loose stones and set diamond jewelry, all sizes and shapes |
| Watches | Rolex, Omega, and other established brands |
| Coins and bullion | Domestic and foreign gold and silver coins, bullion bars and rounds |
| Designer goods | Louis Vuitton, Chanel, and similar handbags and accessories |
| Antiques and collectibles | Signed crystal, sculptures, sports cards, memorabilia |
That range matters if you're cleaning out an estate. Instead of sorting jewelry, coins, and a watch into three separate transactions at three different buyers, you can bring everything to one counter and get it evaluated at once.
Licensing and Oversight
Precious metals buying in Florida is regulated at the county and state level, and Lake Worth Gold Mine publishes its credentials rather than leaving customers to take its word for it.
The business is licensed by Palm Beach County (License #2010-11374) and holds a Second Hand Dealer license through the Palm Beach County Sheriff's Office (License #0023A).
Its scale carries a Weighing and Measuring Device Permit (#WM22538) from the Florida Department of Agriculture and Consumer Services, which is the agency that certifies commercial scales used in transactions like this one.
None of that guarantees a specific payout on your items. It does mean the operation is subject to inspection and recordkeeping requirements that an unlicensed buyer would not face.
How Pricing Works: Spot Gold in 2026
Every gold buyer's offer starts with the spot price, so it helps to know where that number sits right now. As of early September 2026, spot gold has been trading in the $4,400 to $4,490 per ounce range, up more than 20% from the same time last year and not far off the all time high of $5,597.
23 set on January 29, 2026. For context, gold spent most of the 1980s and 1990s trading between $300 and $400 an ounce and didn't cross $1,900 until the aftermath of the 2008 financial crisis.
| Metric | Value (early September 2026) |
|---|---|
| Spot gold, per troy ounce | Approximately $4,400 to $4,490 |
| Year over year change | Up over 20% |
| 2026 all time high | $5,597.23 (January 29, 2026) |
| 24K gold, per gram | Roughly $142 |
A 10 gram 14K gold ring contains about 5.83 grams of pure gold (14K is 58.3% pure), which puts its raw melt value somewhere around $828 at current spot prices before any buyer's margin is applied.
Every shop, including this one, keeps a spread between spot price and what it pays you, since that spread covers refining, overhead, and risk.
Lake Worth Gold Mine states that its offers are based on daily spot market prices and that items are sorted, tested, and weighed in front of the customer, which lets you check the math yourself before agreeing to a price.
Gold Buyer or Pawn Shop: Two Different Businesses
People often assume a "gold buyer" and a "pawn shop" are the same thing. They aren't, and the distinction affects what kind of deal you get.
| Pawn shop | Lake Worth Gold Mine | |
|---|---|---|
| Business model | Loans against your item, resells if unpaid | Buys the item outright |
| Payment | Loan amount, item held as collateral | Cash or check at time of sale |
| In-store credit offers | Common, sometimes at inflated markups | Not part of its model |
| Ownership after transaction | Retained until loan is repaid | Transferred to the buyer immediately |
This matters because a pawn loan and an outright sale solve different problems. If you want your item back later, a loan makes sense. If you're done with the piece and want the cash, an outright buyer like this one is the more direct route, and it removes the interest and storage fees that come with a pawn loan.
Reputation and Local Standing
Lake Worth Gold Mine has been voted "Best of Palm Beach County" in the local jewelry store and coin shop category five years running, according to its own site, and carries an A+ rating with BBB accreditation.
It describes itself as family owned and operated, and it draws customers from across the county, including Wellington, Royal Palm Beach, Boynton Beach, Delray Beach, and West Palm Beach.
That's a wide service radius for a single stand alone location, which suggests repeat business and word of mouth referrals are doing real work here.
We'd still encourage readers to check current BBB and Google review counts directly before a first visit, since award pages on a business's own site are self-reported and worth confirming independently.
Location, Hours, and What to Bring
The store sits at 8100 Lake Worth Road, Lake Worth, FL 33467, right off Exit 93 of the Florida Turnpike. Hours run Monday through Friday from 9:00 a.m. to 5:00 p.m. and Saturday from 10:00 a.m. to 4:00 p.m., with the store closed on Sundays.
House and bank visits are available by request, which is worth knowing if you're handling a large estate or a safe deposit box full of coins and don't want to transport everything yourself.
Bring a government issued ID, since Florida's Second Hand Dealer regulations require buyers to record identification on precious metals transactions. If you're selling coins or watches,
bringing any documentation of authenticity or provenance you have can help the appraisal move faster, though it isn't strictly required for a free evaluation.
Conclusion
Lake Worth Gold Mine is a licensed, locally established gold and jewelry buyer with a wider intake range than most single category competitors and pricing tied to daily spot gold.
For Palm Beach County residents deciding between a pawn loan and an outright sale, it's a legitimate option worth getting a quote from before you commit to selling anywhere else.