Gold cash in for scrap or try to sell jewlery?

[utahshovelhead]

Im wondering what your opinions are for maximizing dollars with found gold rings and jewelry? I have a hard time scraping out rings that were made so well as it has to be worth more than the gold content alone. On the other hand, Ive had a gold cross for sale for some time and I seem to get no interest in it. What do you think the best way to get money out of the jewelry we find?

 

[Southwind]

Scraping gold is a quick way to turn your gold to cash. Selling them as non-scrap jewelry is more profitable of course but takes much longer. I sell mine as scrap because I just don't have the time to try and push every single piece for a sale.

 

[Dwayne2010]

I have always sod my gold as scrap on Ebay. I will pay to have it in multiple categories. If its a really nice piece, then you can hold out and maybe somebody will buy it for what your asking, or just keep it. It might be worth more to you. Especially if its a really cool piece. I have started a ring board that I have atached my cool finds and I doubt that I would sell that jewelery.

One other consideration is, if you hold onto that cross, gold could go way up and that cross could be worth a bunch more money in a few years.

 

[coondog]

Wow trade precious metals in for paper! The same paper that has lost 98% of its value since it was introduced. I ask do you really need the money that bad? Should you really be metal detecting for a hobby or would you be better off with a part time cash job?

I don't know what scrape price pays but I'm sure its a rip off. Maybe we should have a section in the forum that we can buy and sell gold and silver. I for one would be a buyer.

 

[sprchng]

I would never sell at these prices either.
You need to consider both the piece and the access you have to a sales outlet to maximize your profit.
If you have a nice piece you can do very well even selling it through a second hand shop on consignment if you're willing to have a little patience.

 

[Southwind]

I believe ARA buys at 95% or 98% spot price. I doubt you'd pay that much for it.

 

[coondog]

That doesn't sound to bad for scrap gold Southwind, man how do they do it when they have to refine it and all. And shovellhead I don't mean you shouldn't metal detect because you may want to sell your gold you find. I just hope to convince some of you young whipper snappers the value of real money verses paper money. My comments sounded too much like a personal attack rather than a strong opinion on precious metals verses phony paper money. So sorry about that.

Real money was something America was built on. We were one of if not the last country to convert to a phoney currency, that meaning made with something of no real value.

History shows many powerful nations have all taken the same path we are on now and failed. Are nation and it's phony currency will likely also fail, probably sooner than we think. And in the end what would you rather have , gold in your pocket or worthless paper? Paper that the new rulers of this country already have huge warehouses full of. Will paper dollars in your bank account stop the new rulers from executing you or your family? I doubt it.

So you asked my opinion about selling precious metals, and as you can see I would probably only sell it to buy it back in a more tradable form. That probably why it's so hard to get what it's worth on the private market. Too hard to test , weigh and figure out an appropriate price.

Well I hope you all keep finding and saving those precious metals. And I hope your all using it as a form of saving because I think someday you will be very glad you did.

 

[mcb613]

I can tell you how... They deal in large qtys and pinch a little here and there. The other big mail in places, rely on people sending in a bag of unknowns and only giving very little. This is because they known the sender doesnt know what they have if mixed with junk jewelry... Seen it many times . You always have the option to have it refined and just pay for the service. And if a chemist, not hard to dissolve with Aqua Regia and precipitate just the gold with Copper Coperous. Vety dangerous, thats why chemist was mentioned. They know chemical properties and how to handle. Takes a little practice also. So expect to lose some metal in the learning curve. Lastly, if you can get 95 percent plus on scrap, better run there fast. Weight and do calculations prior to avoid rippoff!!!

 

[hershey1]

ARA Refineries. They charge 2% send you a check usually less than a week and will send your stones back to you. HH

 

[ron_c]

I contacted ARA and was told "Our services are reserved for the commercial trade. We do not work with the general public".

 

[mcb613]

Go to a scrap buyer in your city and take no less than 94 percent of spot. Should be around $23.27 / gram for 14k. Gotta watch them and do yourself a favor. Separate and weight it prior to going. Write those numbers on a ziplock with a sharpie, so they know you know whats going on. Do take any less than .94 percent.

 

[no-cents]

There is another option. Some scrap the found gold and silver jewelry but take the proceeds to buy gold or silver coins or bullion instead of just spending the cash. Others take the money and buy more detecting gear.

 

[mcb613]

Yes, I agree. However in a little different way. Simply dont sell any, but the flip sode of buying. Good luck either way.

 

[doninbrewster]

I think what you get from the local guys has a lot to do with the quantity. If you have a bunch, they can work closer to spot and still make money. Keep in mind, although some of them are crooks, the legit ones are in business and " a workman is worthy of his reward". As other said, know what you have by weight before you go to sell. If you have pieces with stones in them, take a pair of pliers and pull them out. If a stone weighs 2 grams, they might detect 4 from the weight. They can't do that if you pulled the stones. You also get to keep the stones whatever they are : )

 

[mudpuppy]

You are thinking right Utah...I sell all my scrap gold/silver to finance the search for more!...that said, a fellow has to start with knowing what its worth, and Goldcalc is a good site to go to to get daily values...you enter in the weight and composition, and it calculates that immediate gold value for you..ARA or Midwest refineries..pay top market dollar less a few points, and buy from us hobbiests no matter what they say.. .

The 'good' stuff my Wife grabs...the junk or plain I get to sell...you just gotta find a 'goldbug' in your area by asking around and carrying those rings you want to sell on you...know the value and strike a deal...if enough folks in your local circle know you have gold rings for sale less than retail, sooner or later somebody steps up...i sold a bunch at the Wifes Garage sale one year to one goldbug....ask even the kids at the gas station working the counter, show them the ring, and tell them what you want for it...looking back, it would have been nice to keep it all for my retirement....no-cents makes a good point, if a fellow has the leisure, he should be cashing in all finds especially clad for silver/gold coins...Me? I piss it all away on gas, cigarettes and beer, to feed my addiction to the never ending hunt!, I just go find some more is what I figure...

End of story is you gotta know what you got, and what its worth regardless.. All silver rings are an easy 5 buck no matter what the weight...cool ones go for 10...
Mud