Sold gold ring!

[JBE_Iowa]

Did an experiment.

Wanted to sell a large gold ring I've had for years, so when we went to Omaha on vacation I shoped it around to some pawn shops to see what they offered, here are the results:

Mid state pawn: $200
Sol's: $225 (Sol's had a huge sign on their door saying they pay the most for jewelry?)
Metro (Council Bluffs): $300

None of the offers seemed very good so I sent it to Midwest Refineries and just received the check today: $395.00

I know pawn shops have to make some money, but almost $200...come on!...guess they are for the people that must have the money right now.

Joe

 

[reltolbert]

The Pawn Shops are a last resort.

 

[Elton]

Makes me wonder how much is really legitimate items

 

[Hombre]

If I'm bored I'LL watch Pawnstars or American Pickers, it's Hollywood Hype........as far as I'm concerned. Same goes for Sons of Guns, I would not let them work on my BB gun!

All of those "reality" shows are for people that don't know any better.

 

[GoGoGopher]

Reality shows are for those who do not have their own reality...

HH,

 

[JBE_Iowa]

I like the storage wars...like detecting, never know what your going to find.

Joe

 

[hershey1]

A lot of thieves move their stuff through pawn shops and just take what is offered. Like R.E said pawn shops are a last resort. HH

 

[markg]

Makes me wonder how much is really legitimate items

Well it is nice to see another person preferring the Minelab over the LTD.

 

[DDOU812]

Yea,I'm from the Omaha area and I'll tell ya they prey on ignorance and desperation.I went with a friend who had a broken 14k chain and sol's offered him 50 bucks. I took him to a guy I've done business with for years and got it sold for him 520 dollars. The guy at Sol's said it wasn't worth much because it was broken and fed him a line that it would cost a couple of hundred bucks to fix it. The nerve of some people.

 

[Southwind]

Thats loco.

I took some gold to a local pawn shop and a local jeweler that advertised buying gold and was offered $285 at most. I sent it to ARA in Dallas and got $890.

 

[Ohio bud]

Thanks for this information, In December I sold a bag of gold rings I found and got 85% of gold content for $1139. At 95% I would have gotten another $113. I will remember this.

Ohio Bud

 

[Grumpyolddiver]

The Coin Shop in town here pays 54% I have checked him severl times with both 10 and 14k. There is a coin buyer about 45 miles from me that says he pays 94% but really comes in at about 89% and I get cash,now mind you I'm not complaining.But it never seems to come out to what I come up with.Midwest was worse.And so far I have not sent to ARA yet.All I can truelly say is I never find enough. But its allways a thrill. Grumpy

 

[reltolbert]

What does 'ARA' stand for?

 

[TURNMASTER]

Some of the pawn shops knowingly move stolen stuff. The truth is though not all of them do so knowing that it was stolen. I have used them to get $50 or $100 short term many years ago. The truth is that for a quick loan you know you will pay off in a hurry it works out. However if you let the item go then you get less than half of your value. I would not use them for selling precious metals, ever.

The biggest problem is that there are very many things that are not traceable, like tools. Unless you have marked them with the last 4 of your social or your name.

Jeff

 

[Slay in IA]

ARA stands for American Recycling Associates. I sent some gold to them last winter and thought they treated me fairly.
Here is a link if the forum will let me.
http://www.aragold.com/index.html

 

[reltolbert]

Slay in lA,

Thank you.