gold
cuzzx
Posts: 138
i have a chance to buy some gold rings that are brand new at what the dealer paid for them 4 years ago.
your thoughts ?
what would a gram of gold be today?
0
Comments
Keep in mind that jewelry in America is almost always 14K (58.5% pure), rather than pure 24K gold. So a gram of 14k gold is worth approximately $21.
And American jewelry can be 10k, or 41.6% pure, which would make a gram worth about $15.
Most importantly, though, is if your dealer is trying to sell them retail, and is offering them to you at what he paid for them for resale at the retail level. Americans often pay many times what the gold value is when they buy retail. So even if he bought wholesale, he probably paid way more than it is actually worth in terms of gold value.
Personally, even if it was good quality new jewelry and he bought it as scrap, I wouldn't buy it. The very best you can hope for is to sell it for is about 90% of its value, less shipping and handling, assuming it is accurately marked. If it turns out to be fake, plated, or lower gold purity than you buy it for, you're hosed.
--Severian the Lame
I pulled the trigger, bought 15 gold 10K rings that each weighted about 1 gram each for $150 plus he threw in some silver jewelry.
The rings are new and the silver was old and broke.
<< <i>...bought 15 gold 10K rings that each weighted about 1 gram each for $150... >>
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The rings only weighed 1 gram each? That would be a very tiny, thin ring.
At $1120 gold, it looks like a decent deal: 15 grams at 10K [.417 fine] is about 6.25g of gold or $225.
The 1 gram weight of each ring sounds awfully light though. I'd verify that weight. Are they marked 10K?