Scrap: sell, keep, or burn?

Weiss

Finally getting around to cleaning out the cobwebs. I do a pretty good job of finding bits and pieces of jewelry on the street, in my apartments after tenants leave, etc.

Among my ~7 grams of marked gold pieces is this necklace and pendant:








If I had to guess I'd say it's a JC Penny-type, Zales, mall jewelry store piece.

At $1475 an ounce, a gram of pure gold should be worth about $47.42. 14k is 58.3% pure, so a gram of 14k should be worth about $27.64. Multiply that by 1.8 grams of weight (including stones) and this piece is valued at about $49.75.

My wife doesn't want it. I don't want it. So...

Should I keep it, melt it, or anyone want to make an offer above melt for it?

gecko109

Since you have no desire for it, you should simply sell it as scrap and turn that cash into bullion form....whether it be a silver bar or add some cash and buy a 1/10th AGE. When doing inventory on my bullion holdings, im often tempted to include the wife's jewelry (she is spoiled rotten). But I dont. I keep the 2 values seperate even though her jewelry (as expressed in melt value) is basically just bullion she can wear.

CaptMorgan

Scrap it and buy silver.

goingbroke

I guess you could just be nice and return your tenants lost property also!

Weiss

<< <i>I guess you could just be nice and return your tenants lost property also! >>



That's a harsh assumption. To be clear: The items I've found include items found during remodels, pieces found in common areas (including lawns), and most importantly, items offered but unclaimed. I've earned my reputation as the best landlord in town over 20 years of business in a town with hundreds of landlords.