help needed
YogiBerraFan
Posts: 2,390 ✭✭
This is my first post on the precious metals forum and I was hoping to get some advice on selling some old jewelry. I have never sold any type of precious metal before.
I have various types of gold chains and a few charms. Everything is 14k. Most of it is around 20 years old if that matters. Some pieces look like they were used and some I only wore a few times. I am guessing the worn items would be sold as scrap. As far as the like new pieces should they be sold with the worn items or should they be sold separately on eBay since they are nice wearable pieces? I am guessing a like new piece of jewelry is worth more than melt but I have no idea. As a group everything weighs a little over an ounce and a half. Can someone give me a rough idea on how much I should expect if I sold it all as a lot? How do I find a dealer or buyer that will offer a fair price? Is now a good time to sell? I do not need to sell now but I am going on vacation next month and some extra cash would be nice. Thanks in advance for any advice.
I have various types of gold chains and a few charms. Everything is 14k. Most of it is around 20 years old if that matters. Some pieces look like they were used and some I only wore a few times. I am guessing the worn items would be sold as scrap. As far as the like new pieces should they be sold with the worn items or should they be sold separately on eBay since they are nice wearable pieces? I am guessing a like new piece of jewelry is worth more than melt but I have no idea. As a group everything weighs a little over an ounce and a half. Can someone give me a rough idea on how much I should expect if I sold it all as a lot? How do I find a dealer or buyer that will offer a fair price? Is now a good time to sell? I do not need to sell now but I am going on vacation next month and some extra cash would be nice. Thanks in advance for any advice.
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Comments
expect to get about 10-30% back of melt divided by 2, if that makes any sense. So for about 46 grams (1 1/2 oz), at $1200 spot gold, you'll get in the neighborhood of ~ $620-$800. depending on who you take it to. you might squeeze out the high end of that or better if you send to a refiner. I think midwest refinery is a good one, some other PM'ers can confirm that.
If any of it has any jewels in it and you're sure you want to scrap it, pop the jewels out first before you try to sell it.
Too many positive BST transactions with too many members to list.
this is a good conversion web site...gives you your bullion value...Now all you have to do is find is an "honest" scrap bullion dealer.
bullion value
Frank