Gold market heats up: local trust is key, says West Texas expert

SAN ANGELO, Texas (Concho Valley Homepage) — As of July 2025, gold prices are among the highest they’ve ever been. Nearly doubling over the last three to five years, people are selling and buying to capitalize on the high spot price.

With all the interest in the market, Texans should exercise caution if they’re new to buying bullion and coins or considering getting started. Mike’s Gold Buyers, with locations in San Angelo, Lubbock, Abilene, Killeen, and Temple, is recognized as a trusted dealer in West and Central Texas.

Riana Owen, regional manager of the San Angelo location, is working to ensure both new and experienced buyers are informed and protected as they navigate this record-breaking market.

“I think gold is a wise investment if you get it at the right price,” Owen said. “I think that rare coins are beautiful, but they are difficult to liquidate. However, with the way gold has been growing, it might be a great investment. The last two years for gold have been the most insane I have ever seen. I started in 2015 when gold was $1,200 an ounce. Now, it is $3,300.”

With gold being so high, Owen weighs in on why she believes that to be the case.

“The only loose correlation is the stock market fluctuating up and down,” Owen said. “That’s really the only thing I can link it to. I don’t see a dramatic fluctuation happening with gold, but it is unprecedented. I don’t know if it’s a big conspiracy, but it doesn’t look to be going down any time soon.”

While there are many quick ways to make money, Owen considers gold a more stable and reliable option for accumulating wealth over the long term.

“I think it’s extremely stable, but it is long-term,” Owen said. “I also think that’s where people get mistaken with the popularity of coin collecting. It’s a great hobby, but when you’re buying any type of precious metal, it will be a long-term investment of 10-20 years. I think any financial advisor would tell you the same thing. It’s good to have stocks, but it’s a roller coaster. Your precious metals will always be there.”

A helpful suggestion when investing in precious metals: selling is often regarded as just as important as buying, so it’s wise to have a plan for both.

“The best advice I can give is find someone local, get as many quotes and ask as many questions as you can,” Owen said. “We do free estimates and sorting, so you can decide with as much information as possible. Stick local because you’re going to be treated better, and we’re your neighbors.”

Local buyers and sellers also have a sense of trust with each other. The buyer and seller can trust the stores if they trust one another.

The owners of the other local shops are wonderful, honest, and good people because they live here and buy and sell from the people down the street from us,” Owen said.

A lot of people might look to the internet as a way to buy precious metals, but Owen warns people of the risk.

“I used to recommend eBay, but eBay now takes a 30 percent cut, so you get more locally if you were to sell,” Owen said. “It’s also going to be tricky when you’re buying because you don’t know how much they are having to mark up the metals to make a profit. We have also seen more counterfeits now than we ever have, and they get better and better every time I see one. People are buying them, and it’s not necessarily a new thing, but it’s still a massive problem. We have the ability to test it here, so at least you can feel comfortable knowing that.”

Owen’s final piece of advice to new buyers and sellers is concrete in how she lays it out.

“Do you research and get as much free advice as you can,” Owen said. “There’s me, there are other local buyers who are happy to help. You will never meet a friendlier bunch of people than us. The internet is a great resource, but building relationships and business locally is your best bet.”

Mike’s Gold Buyers can be found on their website and Facebook.