Selling scrap gold?

I have a small amount of scrap gold, ranging from broken necklaces, and a few rings, including a 12.4g 'nugget' ring. I am not certain of the purifies. I also have a 11.4g piece of dental gold, which I presume is 18k.

I am skeptical of throwing it all in a box and mailing it off somewhere, and my local jeweler is obviously not going to give me the highest price.

All together, I have 42.8g. At current pricing, even if it was -all- 10k, is 'worth' $685.

If in fact the dental gold is 18k, it is 'worth' $332 alone.

Any recommendations on reputable gold buyers?

I don't know but that'll get you some nice rocket stuff!!! Kurt

What about local pawn shop? We use to have a local place that bought unwanted gold (exclusively) and he gave a fair market value.

I would get 3 independent appraisals... (try to determine exactly what you have)

Then, if you are not strapped for cash...

Stash it away for a while... (a long while)

Gold is in an up trend as of late...

Any idea what those places I hear about on the radio pay? There is one place near me where I hear the ads all the time, and they give you a $10 gas card too! I know they are practically stealing it from you, but just curious if anyone ever tried any of them just to get a quote.

timbucktoo said:

What about local pawn shop? We use to have a local place that bought unwanted gold (exclusively) and he gave a fair market value.

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I did find a local gold buyer/pawn shop that claims to pay 'top dollar', though they were closed by the time I found them.

https://www.watertowngoldandtrade.com

I realize I won't get 'full value', but I don't want to get scammed, either. I've seen ranges paid up to 90% of value, but I'm not sure what to realistically expect. I guess I'll find out tomorrow.

I'm using the 'scrap gold calculator' I found here-

https://www.goldcalc.com/scrap_gold_value.php


I wish I could hold on to it for a while, but...I..can't.


I also have a rather large diamond cluster/cocktail ring (19 diamonds) but I'm going to hold out as long as I can....that, and I would have to have it appraised..$$

Fwiw...





I did a quick skim on EBay, and it appears this is worth no where near what I thought it was, though it obviously needs to be appraised. I have no idea of the karat weight, color, clarity etc.

I do know it's at least 30 years old, it was my moms...

McKailas Dad said:

Fwiw...

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I did a quick skim on EBay, and it appears this is worth no where near what I thought it was, though it obviously needs to be appraised. I have no idea of the karat weight, color, clarity etc.

I do know it's at least 30 years old, it was my moms...

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Jeff,
If it's not worth what you were hoping for, and it was your mom's, why not give it to McKaila? She might like something that was grandma's...

Adrian

jd2cylman said:

Jeff,
If it's not worth what you were hoping for, and it was your mom's, why not give it to McKaila? She might like something that was grandma's...

Adrian

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I had considered that, but I have -two- daughters, McKaila has a younger sister. They would have to fight each other for it lol.

I wouldn't be selling any of it, and not to get into details, or air my dirty laundry, but things are getting extremely tight around here.

Jeff

What about just selling the scrap gold and removing the diamonds .
You could divide the diamonds among the 2 daughters and they could have a ring made for themselves ( when grown up ) with diamonds that belonged to grandma


Bobby

As a divorced person myself, I understand.
Good luck.

Adrian

jd2cylman said:

As a divorced person myself, I understand.
Good luck.

Adrian

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Thanks, I appreciate it It's been tough, especially financially. 17 years is a long time. 45 and single... Sucks!

I saw a bumper sticker once that read-

"Love is grand, divorce is 20 grand'

Not quite, but it seems it may as well be lol

Sorry, I'll quit whining now

McKailas Dad said:

Thanks, I appreciate it It's been tough, especially financially. 17 years is a long time. 45 and single... Sucks!

I saw a bumper sticker once that read-

"Love is grand, divorce is 20 grand'

Not quite, but it seems it may as well be lol

Sorry, I'll quit whining now

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I got divorced at 45, 13yrs ago. 20 grand would have been cheap! That would not have even covered her CC bills she refused to make payments on. My son chose to stay with me. Yes it was really tough financially for awhile, but it did get better. Still single. Hang in there things will get better!

McKailas Dad said:

Thanks, I appreciate it It's been tough, especially financially. 17 years is a long time. 45 and single... Sucks!

I saw a bumper sticker once that read-

"Love is grand, divorce is 20 grand'

Not quite, but it seems it may as well be lol

Sorry, I'll quit whining now

Click to expand...

I had ~15 years left on my mortgage. Had to refinance to take out all the equity to pay off HER. Back to a 30 yr mortgage (now refinanced to 25yr, so maybe 22yrs or less). Oh well, at least the interest is a good tax deduction...

Adrian

https://www.google.com/search?sourc...8&rlz=1T4ADFA_enUS376US376&q=scrap+gold+price

https://www.sellyourgold.com/ looks reasonable. They send you an evaluation kit for free. And arrange free shipping and appraisals. If you don't like the price you get your stuff back for free. They also do diamonds, silverware and other valuables.

They claim up to 90% of market value which is reasonable, however be aware that the free shipping is really not free and the price you get is minus the shipping costs. Again fair.

31.1 grams = 1 troy oz.

24K = 24/24 = 100% gold. 22K = 22/24 = 91.7% gold. 18K = 18/24 = 75% gold. 14K = 14/24 = 58.3% gold. 10K = 10/24 = 41.7% gold.

The current gold price as of the time of the post is $1206.50 per troy oz. The best you will get is 90% of $1085 per troy ounce, and probably less since the free FedEx shipping and free appraisal kit is likely to cost ~$10 to $20, but these prices are likely much better than you can get at a local pawn shop where 50% is probably the norm.

Gold prices have dropped by 1/3 in the past 3 years, and it's unlikely to increase in the near term as there is no inflation and prices of other commodities are low. From 2001 t0 2011 the price went up 600% from just below $300 to just over $1800, so despite the claims of being a stable investment is really isn't. It's just a commodity the price of which is control by supply and demand.

So anytime is a good time to cash in if you need the cash.

Bob

Just be careful!

I had about a pound of PVD/semi conductor scrap that was easily 80% high grade gold that I sent to The Gold Buyer in Texas...

Freakin redneck USPS person just handed to him instead of getting the required signature.

Postmaster paid off insurance at about 50% (bought cheap insurance...who hands a box of gold to somebody without a signature? )

Would have been worth a small fortune had held on to it until the last gold boom.

Just an FYI, $50 in assorted year pennies weighs 13,198.5 grams...Who knew?

No, I'm not (quite) anal enough to have actually counted all of them, I have a sampling/counting digital scale.

While digging through them, I found 16 wheat pennies, the earliest being a 1937.

Any wheat penny collectors here? Lol

I found a 1944 wheat penny that seems like it's steel?! Are those worth anything?




Kidding....I wish! Apparently they are worth over $110,000?!

Ya think the bank teller is gonna look at me funny when I plop these on the counter?

"There is $5.00 worth in each bag, thank you very much"



If she tells me there's only $49.98, I'm stealing her pen...-and- a lolly pop!

I lost a gold crown once, swallowed it, so I waited and retrieved it later. When I took it to the dentist to get some value from it, I found it wasn't really worth digging it out. Actually, it was on the outside in plain sight.

hball55 said:

I lost a gold crown once, swallowed it, so I waited and retrieved it later. When I took it to the dentist to get some value from it, I found it wasn't really worth digging it out. Actually, it was on the outside in plain sight.

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Sooo, you didn't have him put it back in?! Talk about -halitosis- :/

Jeff

Hang on to the steel looking penny . They are on the rare side
the 1943 penny was made from steel as copper was in short supply during WW II

https://en.wikipedia.org/wiki/1943_steel_cent


Jeff

The 1944 penny is even more valuable !!

https://cointrackers.com/coins/13593/1944-steel-wheat-penny/



Bobby

Go to a coin dealer, not a pawn shop. Premium at the coin shop I go to is 7% on some things and 5% on others. The reason his take is so low is because he deals with collectors who know their stuff, and are up-to-the minute on the prices of metals. But if you are going to buy, buy bullion.

I have watched this coin dealer working with folks who brought in scrap metals for $$, and he and his family carefully go through grandma's "silverware", etc. Then they tell the poor kids grandmas gold necklace is not solid, and to take all the stuff home and sell it in a garage sale or keep it in memory of grandma. What mail-order gold dealers are usually dealing with is not that valuable, and so their premium is enormous to pay for their time dealing with stuff of very low value.

A few years ago I sold some 14K gold (averaged). When all was said and done I received about 45% of the 24k rate for that day. I figured they made about 10-12% on me. Most people believe they are going to receive 75-90% of that 24k rate and think they are going to make a killing. It ain't going to happen unless your gold is all 24k. Unless the bill collectors are knocking at your door keep the gold for your kids.

If you don't have record of the golds purity and value, nobody will give you a honest price, I highly recommend going to a jewler or pawn shop or one of those "trade gold for FAST kkk KA$H" places.

McKailas Dad said:

Sooo, you didn't have him put it back in?! Talk about -halitosis- :/

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No, lol, I opted for a porcelain crown.

bobby_hamill said:

Jeff

Hang on to the steel looking penny . They are on the rare side
the 1943 penny was made from steel as copper was in short supply during WW II

https://en.wikipedia.org/wiki/1943_steel_cent


Jeff

The 1944 penny is even more valuable !!

https://cointrackers.com/coins/13593/1944-steel-wheat-penny/



Bobby

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As much as I WISH I had found a 1944 Steel Wheat penny, I did not. None of them are steel

I was checking coin values as I was finding them, and, short of finding a steel wheat penny, they're not worth a whole lot.

I did find it a little odd to find 16 "regular" Wheat Pennies in only $50 worth. That seemed like a lot to me.

When I sold a few times I went to a local precious metals place, in portland, aaa precious metals, they gave the highest price, just a few % off of the spot price for the equivalent 24K weight since they do the smelting...the jewelry stores and loan places are making money so they will obviously give you less.

Frank