Trading 10K rings for $20 piece question
pocketpiececommems
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What would be a reasonable trade in grams of 10K gold rings for a $20 gold piece? Would gold scrap buyers even consider this?
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It would probably take at least 120+ grams for a trade for 1 generic $20 gold, figuring their buy price at 70-80%. If they would even do it.
Too many positive BST transactions with too many members to list.
If I had a $20 gold piece I'd trade it to you for your 10k rings melt for melt
<< <i>What would be a reasonable trade in grams of 10K gold rings for a $20 gold piece? Would gold scrap buyers even consider this? >>
Looking for and finding an exact match barter partner might take longer and be more expensive than simply selling the rings and then buying the coin
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I would do it as a dealer if I could profit a decent margin on the coin, buying the gold rings at 82%, but would charge you full value on the coin. (coin would be sellable in several different venues, where as the rings would have to go straight to the refinery.
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<< <i>It depends on if the coin is jewelry grade or sellable.
I would do it as a dealer if I could profit a decent margin on the coin, buying the gold rings at 82%, but would charge you full value on the coin. (coin would be sellable in several different venues, where as the rings would have to go straight to the refinery. >>
That would be a very reasonable trade. Nobody in their right mind would trade a genuine $20 for an equal gold weight in 10KT rings that will only end up getting scrapped.
It works a whole lot better when the "scrap" is there and can be assayed. There's a lot of 8 KT, gold filled, and plated silver out there and besides that, a counterfeiter once tried to pass me 31 crisp $50 bills and one good $100 bill for a $20 Gold piece.
He died while in custody. I felt bad when I heard about this, and did not mean to expound on the business but for using the "fake stuff" as a word to the wise.
Don't settle for 82% that's awful . You can do better than melt before fees on ebay
or for that matter send them in to someplace like Market Harmony or prospector gold and gems and get 93% or more. They will settle up in ingots too if thats what you want
Its been a while since I used either but they are still around
market harmony they make pyramid bars that are neat
prospector gold and gems They have cool loaf style bars
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<< <i>It depends on if the coin is jewelry grade or sellable.
I would do it as a dealer if I could profit a decent margin on the coin, buying the gold rings at 82%, but would charge you full value on the coin. (coin would be sellable in several different venues, where as the rings would have to go straight to the refinery. >>
That would be a very reasonable trade. Nobody in their right mind would trade a genuine $20 for an equal gold weight in 10KT rings that will only end up getting scrapped. >>
Agree. Scrap gold is worth less than melt and undamaged classic US gold coins are worth more than melt. Also, from what I've read, marked gold jewelry can vary in quality and a 10K ring may be as low as 9K. At least you know a classic US gold coin is 900 fine.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
<< <i>Gold is at a low now. If you are not in an urgency to sell off your gold, I suggest holding on to it. As the cliché goes, good things come to those who wait. In an otherwise situation, you don’t have a choice but to sell and take whatever you get. Good luck buddy. >>
Selling scrap and using the money to buy US gold coins is a not a bad idea since you will benefit from a rise in gold prices with either form of gold. Also, welcome. This is a great place to learn and share information. Be sure to read the rules on the US Coin Forum since they can ban you for any transgressions.
Worry is the interest you pay on a debt you may not owe.
"Paper money eventually returns to its intrinsic value---zero."----Voltaire
"Everything you say should be true, but not everything true should be said."----Voltaire
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<< <i>It depends on if the coin is jewelry grade or sellable.
I would do it as a dealer if I could profit a decent margin on the coin, buying the gold rings at 82%, but would charge you full value on the coin. (coin would be sellable in several different venues, where as the rings would have to go straight to the refinery. >>
That would be a very reasonable trade. Nobody in their right mind would trade a genuine $20 for an equal gold weight in 10KT rings that will only end up getting scrapped. >>
Agree. Scrap gold is worth less than melt and undamaged classic US gold coins are worth more than melt. Also, from what I've read, marked gold jewelry can vary in quality and a 10K ring may be as low as 9K. At least you know a classic US gold coin is 900 fine. >>
Exactly. Assays on U.S. gold are remarkably reliable. Assays on anonymous gold scrap are not reliable, and this is only one reason why gold scrap is bought at a discount.
That one refiner pays 93% of the actual gold recovered, but if the rings are less than the fireness marked then less gold will be recovered.
<< <i>
<< <i>
<< <i>
<< <i>It depends on if the coin is jewelry grade or sellable.
I would do it as a dealer if I could profit a decent margin on the coin, buying the gold rings at 82%, but would charge you full value on the coin. (coin would be sellable in several different venues, where as the rings would have to go straight to the refinery. >>
That would be a very reasonable trade. Nobody in their right mind would trade a genuine $20 for an equal gold weight in 10KT rings that will only end up getting scrapped. >>
Agree. Scrap gold is worth less than melt and undamaged classic US gold coins are worth more than melt. Also, from what I've read, marked gold jewelry can vary in quality and a 10K ring may be as low as 9K. At least you know a classic US gold coin is 900 fine. >>
Exactly. Assays on U.S. gold are remarkably reliable. Assays on anonymous gold scrap are not reliable, and this is only one reason why gold scrap is bought at a discount.
That one refiner pays 93% of the actual gold recovered, but if the rings are less than the fireness marked then less gold will be recovered. >>
The key is if you feel like you collected yourself down a dead end street to convert your way out into cash unless you can find a true believer who really wants to be in the item you want out of. Thats very hard to imagine in one step the more specialized the item you have is.
It could be much worse they aren't trash jewelry like chain or earrings . Rings are the hot item for SHTF barter scenarios .
There is always ebay I can't stress that enough. If you have decent seller feedback then group them into lots of say $190 melt value and put them up as $199 buy nows and they will sell. It wouldn't hurt to put 1 large and a few small ones in each lot and take a picture of them on a scale and another lined up on one of those ring sizers. Position them as barter but potentially wearable and someone will stretch out and grab them.