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Metal detecting can sure pay for itself. I often times take my metal detector down to the river prospecting, and have found gold rings, silver rings, silver coins and a lot of modern coins too. In January, earlier this year, I cashed in my remaining gold rings and a bunch of silver jewelry for an undisclosed amount of money. Today I cashed in my remaining silver rings I have collected for many years. Not too shabby!
That's the difference between land hunting and water hunting.
Way back when, when I first started hunting the ocean, silver rings didnt count
because it was very easy to find and prevalent. I remember one day, I found a ring spill of 6.
Girls must have taken them all off to play soccer or whatever sport she was playing.
If you were cherry picking for coins, back in the day, you were bound to find a silver ring or two.
I just wish gold would ring high up there, too !!!! Could you just imagine !!!
Metal detecting can sure pay for itself. I often times take my metal detector down to the river prospecting, and have found gold rings, silver rings, silver coins and a lot of modern coins too. In January, earlier this year, I cashed in my remaining gold rings and a bunch of silver jewelry for an undisclosed amount of money. Today I cashed in my remaining silver rings I have collected for many years. Not too shabby!
Weigh them in grams, find out what the spot price is, (calculate a price) then ask what buyers are paying. As I type, sterling silver is worth $2.25 US per gram. Here's a link to what I use for calculations. https://dendritics.com/metal-calc/
Weigh them in grams, find out what the spot price is, (calculate a price) then ask what buyers are paying. As I type, sterling silver is worth $2.25 US per gram. Here's a link to what I use for calculations. https://dendritics.com/metal-calc/
Nice to get some cash for them depending upon timing. John, your post stirs something I’m very into so I’ll take the liberty to post this for others benefit. My experience during the rise in prices is as follows. Silver has been so volatile that many who buy noble metals from consumers and some refineries were refusing silver, both junk & sterling. Many refineries were working 16 hours a day doing just gold. I speak from first hand knowledge and also my jeweler’s comments who has a 50 year relationship with a NY refining company. With the right connections the return can be more than 90% of melt with an additional payout for the alloys like copper & silver. A full assay sheet is included, the refining fee can be as low as $50. At one point the refiner wasn’t taking less than 20 Troy oz of silver and then stopped taking silver altogether. I don’t know your personal taste but years ago I had many of my silver rings made into a large belt buckle. Creating something for yourself (or your sweetie) for the hours and effort spent is a nice reward. Much of the silver I sent in for refining came back .700 despite any .925 markings. Stampings mean nothing. Coin silver is all you can count on. The other thing is it should all be weighed in .DWT not grams. My advice is get to know a small time jeweler, develop a rapport because they have the connections to get you more. The key is to steer your detecting friends and family to them to create volume so they cut you in. Never walk into a pawn shop to do business unless you just want to give it away. Jewelry stores and coin shops who don’t know you are not much better. They assume you don’t know how to quantify what you are holding. The #1 best place to sell gold if you aren’t in the inner circle with a jeweler are the LARGE coin shows.
The majority of the members of my detecting club now liquidate as I’ve described and it is all smiles. That AU buckle pictured at 101 grams equal 64.9 dwt. Twenty dwt (penny weigh to the Troy .oz). The 101 gr 14K gold buckle may get scrapped if gold surges above $5,000 again. It took a lot of rings - 100 hours of water hunting to accumulate back before water hunting was a thing.
Good luck & Happy Hunting !
