Scrap / Wearable gold
BXBOY143
Posts: 1,110 ✭✭
I have
1.9 grams of wearable/scrap 18kt gold
18.5 grams of wearable/scrap 14kt
6.2 grams of scrap 10kt
worth about $820+/- in gold content where is the best place to sell it to get the most out of it?
thanks for any all help
-Paul
1.9 grams of wearable/scrap 18kt gold
18.5 grams of wearable/scrap 14kt
6.2 grams of scrap 10kt
worth about $820+/- in gold content where is the best place to sell it to get the most out of it?
thanks for any all help
-Paul
0
Comments
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Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
Then I called the BM down the road from him, and they would not give me their buy price over phone ... They said competitor could use it against them, to just bring it in .... I told her I already called competitor and were they paying more than $21 per gram, and they would not tell me. That's kind of stinky eh? Considering I live 60 miles round trip/I don't like dealers with attitudes like that.
3rd BM ... Not buying at this time. (friendliest guy/smaller dealer/higher prices).
Just thought I'd show my local Dallas area experience.
Now where are those links someone posted?
(added '.' to before the 375.)
<< <i>I just called my local BM dealer (where I buy junk silver), and asked what they were paying for 14g jewelry and he said $21 per gram? Isn't that less than half of what is should be going for? The online calculator I used shows it is worth $33.40 per gram. (he said he was quoting low, but 375% below melt is VERY low). When I questioned him on that, he said he was busy and had to hang up.
Then I called the BM down the road from him, and they would not give me their buy price over phone ... They said competitor could use it against them, to just bring it in .... I told her I already called competitor and were they paying more than $21 per gram, and they would not tell me. That's kind of stinky eh? Considering I live 60 miles round trip/I don't like dealers with attitudes like that.
3rd BM ... Not buying at this time. (friendliest guy/smaller dealer/higher prices).
Just thought I'd show my local Dallas area experience.
Now where are those links someone posted? >>
$21 is 63% of $33.40 melt value. That seems reasonable for a B&M.
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Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
Anyone who accepts 63% on 14kt gold deserves to be ripped off in my opinion.
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Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
I thought it was a decent deal, no paperwork, shipping and cash in your hands.
Groucho Marx
<< <i>I recently sold for 85% to my local B&M store ...he pays 88% but you must have over 100 pennyweights to get that rate.
I thought it was a decent deal, no paperwork, shipping and cash in your hands. >>
Most refiners take 2% So a 10% spread is certainly a good deal for average scrap pieces. If you tell him the price the piece melts for you will be more likely to get a fair price from a B&M.
Best regards
-Paul
<< <i>aragold.com = 98%, and they remove gemstones/check for CZ's, etc. You pay shipping to them, they pay shipping back. That's who I am going to probably use if and when. >>
Aragold is where I go too, and they do pay 98%, but the karat assay is always lower than what is stamped on the jewelry, and there is always some that is lost. If I could go to my B&M for 92%, I would go there everytime.
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Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.
<< <i>but the karat assay is always lower than what is stamped on the jewelry, and there is always some that is lost. >>
Why is that? I don't understand. How/why does it 'get lost'?
<< <i>
<< <i>but the karat assay is always lower than what is stamped on the jewelry, and there is always some that is lost. >>
Why is that? I don't understand. How/why does it 'get lost'? >>
It's easier to do with mixed lots. Some refiners will add some of the higher karat item weight to the lower karat total. The higher the price of gold, the easier it is to make it profitable for them to do so. Gold Refinery Fraud
<< <i>Wow, color me naive. That's crazy. Thanks for sharing. Do you think that if I mail in only 14k, that I will be safe? I guess a gram scale would be a good investment before I mail anything out. >>
Yep, knowing the exact weight and karat of what you are scraping is important. You can get a 1/100 gram digital scale and a gold acid tester kit on for less than $20 each on eBay. The acid test will let you know if the piece is at least close to the karat indicator of the acid (or gold at all). Otherwise you could take it to a pawn shop or gold buyer to weigh and test it. Best advice is to stick with a large reputable refiner and separate different karat items until you find one you can trust.
goldvaluecalculator.com/gold-calculator
<< <i>thanks for the info ... Is there a brand that is best? >>
DigiWeigh scales are a good brand. For a larger amount of items a 1/10 gram scale like this one would be better than a 1/100 gram scale. A basic acid kit is all you need to check the karat. On any thick piece you are looking to scrap, it's a good idea to file down and check the middle as well.
<< <i>Please tell me who is paying 92% on weight. That is awesome. I can't get that anywhere. >>
Chicago Coin Company....in Chicago currently pays 88% of actual gold value on scrap gold. They must have lowered it a bit from 92% the last time I sold any there. Still a very fair price, and beats the hell out of the 63% that you claim was about right.
<< <i>
<< <i>Please tell me who is paying 92% on weight. That is awesome. I can't get that anywhere. >>
Chicago Coin Company....in Chicago currently pays 88% of actual gold value on scrap gold. They must have lowered it a bit from 92% the last time I sold any there. Still a very fair price, and beats the hell out of the 63% that you claim was about right. >>
I will keep them in mind. I always thought B&M's were a terrible place to sell jewelry.
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Successful transactions on the BST boards with rtimmer, coincoins, gerard, tincup, tjm965, MMR, mission16, dirtygoldman, AUandAG, deadmunny, thedutymon, leadoff4, Kid4HOF03, BRI2327, colebear, mcholke, rpcolettrane, rockdjrw, publius, quik, kalinefan, Allen, JackWESQ, CON40, Griffeyfan2430, blue227, Tiggs2012, ndleo, CDsNuts, ve3rules, doh, MurphDawg, tennessebanker, and gene1978.