What to do with the gems...?

Meltdown

I recently aquired quite a collection of "scrap" jewelry. Many of the rings are adorned with gemstones of all different types.
Assuming I do end up sending off the gold to the smelter, I don't know exactly what to do with the rubies, emeralds, small diamonds, opals etc.

I don't know how to value the gemstones myself. What are my options a fair assesment of their worth?
I assume a local jeweler would charge for an evaluation?

Thanks in advance.

tydye

My daughter has a nice collection of them from my local guys. Even small emeralds and rubys. They give them to her and other little kids for free.

The small diamonds are probably something as I am sure they have lots of them but my daughter was never given any

scrapman1077

Makes great fancy sand for the fish tank !

gsa1fan

The nice rings I'd keep intact. A coin dealer buddy of mine makes a killing from ring sells at coin shows.

bestmr

Actually, one of the PM places sells stones like that. Idk what they offer if buying them. You could also check jewelry places. I know a couple around here buy diamonds but colored stones are a little harder to get rid of.

Meltdown

Thanks for the replies.
I am setting up at a small show this Sunday here in Oregon, maybe I will try selling a few that way first.

Weiss

I second keeping the nicer ones intact, especially if you've still got designs on being a dealer. We've got a dealer here in town who retails smoe of the stuff they buy below melt and their stock turns over constantly. If it sits and doesn't sell, THEN melt it.

This emerald and diamond pendant and necklace weighs less than 2 grams 14k total (subtract that earring). That's about $35 melt--something a dealer would pay $20 for if they had scruples. But you can retail it for $50, maybe $75 on a good day. Pop the gems out and scrap it and it's half that.

gsa1fan

I've seen plenty offered on BST too!

clouisejewelers

Good luck selling gemstones in this market. I have piles of gemstones that have almost no value. Most jewelers have plenty of nice new jewelry they can't sell so what do they do with scrap they buy? It just adds to the pile.

gecko109

"Most jewelers have plenty of nice new jewelry they can't sell .............."


I wonder if that has something to do with the 600-800% mark-ups? I take my wife jewelry shopping at a nearby coin shop. The shop has thousands of pre owned rings, pendants, necklaces, and earrings. I told my wife she can spend $500 at a jewelry store and get 1 bracelet, or take the same $500 to the coin shop and buy 3 bracelets, 2 rings, and a pendant. At $1.25/gram over melt, its the greatest deal going.


P.S.- And the price doesnt change on items with colored stones....but it DOES go up a little on jewelry with smallish diamonds.

clouisejewelers

I do offer used stuff cheap, and it still rarely sells. Most used jewelry is heavily worn or way out of style and gets melted. The mythical 600-800% markup jewelers only exist on 5th avenue or the miracle mile(Tiffany's, etc.). Other 600% markup jewelers have priced themselves out of existence, just like $100k+/yr firefighters who retire at 50 and pull a ridiculous pension for the rest of their lives are pricing themselves out.

gecko109

<< <i>I do offer used stuff cheap, and it still rarely sells. Most used jewelry is heavily worn or way out of style and gets melted. The mythical 600-800% markup jewelers only exist on 5th avenue or the miracle mile(Tiffany's, etc.). Other 600% markup jewelers have priced themselves out of existence, just like $100k+/yr firefighters who retire at 50 and pull a ridiculous pension for the rest of their lives are pricing themselves out. >>




Well let me ask you then. What would YOU pay for a complete stranger to come into your burning house at 3am to rescue your family and try to save your belongings? Whats that worth? Another question.....how much would YOU charge if you were that guy who had to try to save a complete stranger's family at 3am in a burning house? What kind of monetary value do you attach to your personal safety?

secondrepublic

We used to have a fine tradition of volunteer firefighters in this country which sadly has been destroyed by the union bosses bent on increasing their turf. This article on the subject is very eye-opening:

Link.

Personally, I don't have any problem paying people a top salary to be a firefighter -- it's risky and difficult work. But I do have a big problem with exorbitant pensions starting at age 50-whatever which are bankrupting our cities and towns. That's a problem with government employees across the board not just firefighters and police.

gecko109

I pay roughly $350 per pay period (thats $700/month) into my pension plan. Thats $226,800 for a 27 year career (thats how many years i'll have at age 50). The pension plans arent "free", or even a part of our fringe benefits. It is a PAID program that im not ashamed of. A firefighter today who retires at age 50 with 27 years on the job will earn about $60,000 per year in pension payouts until his death. The average life expectancy of a firefighter is 56 years. Do the math. Again, im not tooting my own horn, but I have EARNED everything that I have, including my pension.

On a side note, although I have the utmost respect for vols, its simply not a practical endeavor in major cities. In highly populated, dense residential areas, response time is ultra important. I have been to many fires where 1 frame house gets another one going right next door (houses here are spaced about 8 feet apart and sometimes much less). Can you even imagine if it took us 15 minutes to get to a fire rather than the typical 3-4 minutes it takes us now?



Edited to add:

I was at this fire a few weeks ago, and my buddy Adam was in the hospital for 2 weeks due to serious 3rd degree burns to his ears and face. He was also intubated for 4 days following this explosion because his airway started to swell after he got to the emergency room. I was in the gangway on the far side of the building when the explosion happened. Adam was up on that front porch trying to remove the plywood. He is home now but will take a long time to recover from his injuries.

Here is what we do, and what can happen in an instant!

Justacommeman

I'm with Gecko on this one. How could you possibly put a price on it putting your life on the line. Until you've been in a fire you have no idea. I'm inactive now, but I was a volunteer on our city of 90,000 force. This is an affluent city that has always had a volunteer FD. We have six stations and 180 fully certified and accredited firefighters. The program and training is fierce. Most of our firefighters are cops, city workers, and from the medical community. Doctors, etc.......I have nothing but admiration for full-time firefighters

Our volunteers do get a pension for hours served. MJ

KUCH

Here's to the firemen!!!!! A dangerous full time job! There's a million places this government could save some monies, don't cut the fire department. keep the UNIONS out, keep the training to a minimum and support them.

secondrepublic

I have a huge amount of respect for firefighters and what they do, both paid and volunteer. It's dangerous and vital work and when people are doing it full time deserve to be paid well.

Gecko, it sounds like your situation is more "sustainable" in terms of pensions. Some other towns/cities clearly aren't.... politicians have made agreements with the unions... without setting aside the money to pay for it. Now it's coming home to roost and it's a big problem.

That's not any reflection on the fireman putting his life on the line every day. I have a great deal of respect for that person. It's the system itself that's messed up. The unions are big part of that, so are the politicians who are only looking at the next election and not whether something is sustainable and can be funded 20, 30 years down the line. Same mentality that brought down the automakers who made big promises to the unions and were only looking at next quarter's earnings.