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Selling Gold And Silver
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Schnauzers 5 Offline

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Post: #1
Selling Gold And Silver
Just be very sure you can let go of the items. They have to keep them a few days and take drivers' license etc for police records in case any are stolen. I got a good amnt for my gold but not much for my silver jewelry. I had one bangle bracelet I had second thoughts about and went back to buy it back today. I can't get it til the 13th and the cost is double to get it back. I may have paid about $10 for it 12-15yrs ago but now it will cost $22 to have it back. So I will buy it anyway, as it is a nice piece. Mother horse and baby cuff bracelet. I have a matching ring too. I got $21 gram /penny weight for my 14k gold items and was surprised at how they added up. Broken chains and rings I did not wear much. I even sold my old wedding band from a divorce back in 1969. Time to let that one go! LOl

Forgot to say...what prompted me to sell was my beautiful dog had to stay overnight in ER a few weekends ago and cost $2,050.00. Yes, you read that right! Then I had van unexpected $800 more repairs all in two weeks time and my credit cards already had $900 balances on each. I got Care Credit open up with small interest for six mos on the $921 bill but I hate debt and this will help get it down quicker. On the way to RV repair I saw the We Buy Gold sign and they are established jewelry store for 25yrs. So it was a good time to do it. My little Schnauzer momma had a very bad bacterial infection in her intestines, in shock and could have died. She is for sure worth more than allll the gold I own. ( I do think Vets take advantage of dog owner/lovers). Now she needs spaying for $254 or more soon. UGH.
(This post was last modified: 08-07-2012 12:33 AM by Schnauzers 5.)
08-07-2012 12:22 AM
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SuperSleeper Offline

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Post: #2
RE: Selling Gold And Silver
Just as an "FYI".. the "We Buy Gold" shops that are popping up all over the place are usually the last place to get fair prices for your gold & silver jewelry.

Go to a reputable coin shop or jewelry shop that's been in business for several years and has a good reputation to maintain within your community - know what the melt value of metals is worth and how much you actually have on hand... spend $30 and get a small electronic scale so you know the weight of your gold/silver items - know how much gold is in 10k, 14k, 18k, etc. and you won't get taken advantage of.

Most of these "We Buy Gold" places will give you less than 30% of the melt value of your jewelry. Do a Google search for "how to sell your gold jewelry without getting ripped off" and learn the basics, at least.

Also, know that wherever you go, common practice is to "low-ball" you with an extremely low offer at the first. NEVER accept the first offer they make. Ever.

Coffee

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08-07-2012 10:14 AM
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Schnauzers 5 Offline

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Post: #3
RE: Selling Gold And Silver
I did check three places actually. London Gold, a jewelry store in business a long time, a watch repair, and the final place, which is a jewelry store in business 25yrs. I could not find anyone willing to buy for more than $21.something for 14K. I also had some 10K. Unfortunately, most is sold now and I didn't have the option to go buying scales etc because I had to have money to fix my van and get back to work. Example: I received $134.26 for a wedding band just sitting around since 1969 that had bad feelings attached to it. I doubt the ring cost more than $35 when he bought it. I can't second guess myself now, because to buy any back is double the price. Thanks for the info however. I realize they have to profit from it and unless I own or have a close relative in the jewelry business, I will be loosing some of the value. Fine 18 inch box chains that are broken I think paid fairly well. I can't look back now. There were 17 pieces and a few silver items. The gold was 14 and a few 10 k. I only got $49.07 for a bowl of silver stuff that was not much. I figure $2,09.000 for an old BF class ring, (10K) rings with no stones, and broken chains and a few good bracelets maybe 10 grams were good prices to receive.($296.62) As I said, I can't look back now, and it helped me with credit card debt and van repair .I plan to hang on to my very good high gram bracelets.
08-07-2012 10:58 AM
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