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what to do with gold rings?

unknowncomicunknowncomic Posts: 945 ✭✭
in Metal Detecting
I found two small gold rings last week and wondered where to sell them. One is 10k and weighs 3.6 g. and the other is 14 k and weighs 3.2 g.
Both are pretty small. Anyone have an idea?
image
Molon Labe

Comments

  • rickoricko Posts: 98,724 ✭✭✭✭✭
    You can get much less than the gold value by selling them to 'gold buyer' or jewelers. Or, you can send to a smelter for a higher return based on spot prices. I would wait until I had more gold though, that is hardly worth the postage. Cheers, RickO
  • unknowncomicunknowncomic Posts: 945 ✭✭
    Thanks Ricko. I think I will save them up until I hit the mother lode. LOL
    Molon Labe
  • JazzmanJABJazzmanJAB Posts: 1,027 ✭✭✭✭
    My local B&M takes the like. Might pay better than "Gold Buyers".
    I agree with Ricko though, to save it up, then cash it in.
  • demodiggerdemodigger Posts: 1,012 ✭
    I dug a 14k ring a few months ago. Took it to my local coin shop and traded it for a chopped trade dollar.got $125 for the ring, which paid for most of the coin.
  • DockwalliperDockwalliper Posts: 1,169 ✭✭✭
    Some jewelers pay close to spot as they use the gold in house and don't have to pay the smelter.

    At todays price of $1742.50 the 10K ring melt value is $85.69 and the 14K ring is $106.49. Take them in and see how much they will give you. Don't like the price? Don't sell.
  • TURBOTURBO Posts: 494 ✭✭✭
    LUCKY!!!!
  • kiyotekiyote Posts: 5,577 ✭✭✭✭✭
    Melt it down! Make a pendant.
    "I'll split the atom! I am the fifth dimension! I am the eighth wonder of the world!" -Gef the talking mongoose.
  • TwinturboTwinturbo Posts: 493
    What shape are the rings in? Any deep cuts etc?
  • TexasNationalsTexasNationals Posts: 3,837 ✭
    Yep, sell them to a jeweler who will buff the scratches out and re-sell them to customers. That will get you the most money if you approach the jeweler with it and he agrees. Jewelry mark up is high to the dealer from the distributor too. Everyone seems to mark them up 50%. Manufacture to wholesaler +50%, wholesaler to distributor +50%, distributor to jeweler +50%, jeweler to customer +75% or more. Not uncommon for a ring to sell for 300%-500% of melt! Ever shop at Tiffany's? A sterling ring like that can cost $100 or more as you are paying for the name. Do they have the makers names in the bands?
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