"Unlike others, we tell you what we pay - At $1,100 per ounce you should not accept less than $

Connecticoin

This was a radio ad from one of those "gold buyers" on a Boston sports talk station. That's $440 per ounce.

Man, the general public is getting fleeced, but I guess we knew that already.

gecko109

Are they talking about 14kt though? Thats almost 70% of melt. Not a "good" buy price, but not a super horrible one either.

Connecticoin

<< <i>Are they talking about 14kt though? Thats almost 70% of melt. Not a "good" buy price, but not a super horrible one either. >>



They don't specify. I would bet its for only the gold (i.e. they would mulitply by .75 for 18k)

Baley

what IS a fair buy price for junk 14k? (say, for example, broken but marked 14k jewelry)

gecko109

<< <i>what IS a fair buy price for junk 14k? (say, for example, broken but marked 14k jewelry) >>




I consider somewhat approaching 80-83% of melt to be quite fair. Still leaves room for a profit for the buyer to send to the scrap mill.

CaptHenway

We used to pay 80% of melt on scrap until the City of Chicago instituted a 30-day holding period. Now we pay 70%, but are still one of the higher buyers, if not THE highest buyer, in town.

There was a kiosk out at a suburban mall buying gold. I asked them what they were paying on 14kt scrap, and it worked out to about 30%.

TD

CaptHenway

Had a guy in today with a very heavy "white gold" man's bracelet. He said it was his grandmother's, but she died.

These are known fakes that started turning up in Florida last Fall, and are now appearing all over the country. The thing is, they pass the basic scratch and acid test. Now we just don't buy white gold, except for maybe something like a ladies wedding band that looks old.

TD

gecko109

<< <i>Had a guy in today with a very heavy "white gold" man's bracelet. He said it was his grandmother's, but she died.

These are known fakes that started turning up in Florida last Fall, and are now appearing all over the country. The thing is, they pass the basic scratch and acid test. Now we just don't buy white gold, except for maybe something like a ladies wedding band that looks old.

TD >>




Are they gold plated tungsten then Tom?

CaptHenway

No hint of gold color. Kind of looked like stainless steel.
I am assuming these are mostly tungsten.
TD

clouisejewelers

Thanks for the heads up on this. I have seen stainless steel stamped 925 but have not yet seen it passed as 14K white.

CaptHenway

<< <i>Thanks for the heads up on this. I have seen stainless steel stamped 925 but have not yet seen it passed as 14K white. >>



This was marked as "750," or 18kt.
Some of the stuff offered down in Florida was stamped "18KT."
TD