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Best option for selling gold finds?
- Thread starter JJ
- Start date
dobbratacus
Member
Pawn shop? Never. Jewelry store? Maybe. If you're just selling plain ring bullion with no stones I've had my best returns with us gold buyers. They post daily what they are paying. I always weigh my items, check the karat percentages and do the math myself. They pay for the shipping and they have always been close to my calculations. Rings with stones, good luck, prices are all over but craigslist and ebay seem popular. I normally keep rings with stones and give them to family or friends. When I get about 20 or 30 plain gold rings off they go. I hope old Beechnut weighs in because he seems to be the gold master in these parts.
Theres a couple of refiners...only on my second cup of coffee, so forgive me for not remembering...Ones in Texas, the other over by Detroit...Midwest Refiners? maybe? Anyway, I'm sure there are more...they have websites...the thing is, you get like 95% of your golds value from a refiner...(thats where the pawn shops send their stuff) and you get your stones back if you want them too...Somebody will be along shortly with better details than I supplied...I sell all my gold,
I'm trying to wait until it gets at least to $1230/oz....which is my low threshold....its been painful watching it hover in the 1100's for years now...my problem this year is finding the stuff to begin with!
Mud
I'm trying to wait until it gets at least to $1230/oz....which is my low threshold....its been painful watching it hover in the 1100's for years now...my problem this year is finding the stuff to begin with!
Mud
dewcon4414
Well-known member
Very few will pay what ARA pays for the gold.......... 98% of stop melt and they give you several options. You can let it ride until it hits a certain price, melt part and have it sent back to you in BBs, or have a check for it all. They do buy diamonds...... but no one gives you much for them alone. They also send you back all stones with your check. Rarely have i heard of and issue with them...... if there was it the customer was always satisfied. NOW..... attempting to get get a good price for rings with say diamonds that are worth big bucks....... i've not found a reasonable way to sell them. Craigs List or Ebay seems to be most peoples choice. Some have jewelry dealers in the clubs that buy them.
This is a great question. I recently talked with a local scrap dealer about it because I was thinking of doing some electronic scrap recovery and would end up with some amount of 24kt from it, and they quoted me a price that was about 76 or 77% of spot, so Mud's 95% sounds pretty good.
-pete
-pete
bob.oz
Active member
You might try small jewelers in your area for selling nice rings on consignment. I've tried Craig's List but you get mainly lowball offers from scrapers it seems. Don't even want to deal with ebay!
Facebook has, at least in my area they do, local buy and sell group pages that I have sold tungsten, titanium, and stainless rings on. Silver rings do well if they are Tiffany or other well known designers. I've sold rings to friends and family for better than scrap and.....I've been asked by some to "stop showing my wife your finds," LoL Good Luck
Facebook has, at least in my area they do, local buy and sell group pages that I have sold tungsten, titanium, and stainless rings on. Silver rings do well if they are Tiffany or other well known designers. I've sold rings to friends and family for better than scrap and.....I've been asked by some to "stop showing my wife your finds," LoL Good Luck
Dancer carries his silver ring finds where ever he goes...He had a great post about when at a restaurant, he will offer the waitress the choice of a silver ring, or the cash tip!...You are right about CL there Bob...waste of time....I do sell a lot of silver rings at the Wifes yearly garage sale...mostly silver, She prices them $5 on up depending on size and beauty....
I keep all the gold/silver coins in my pocket and pitch it to a likely looking candidate who may show up...one guy bought 200 of my wheat pennys for 3cents each!
.That was a hard earned $6 dollars! Its hard to offload this stuff for a decent amount...I sold one silver bracelet to a lady for $40 once...Yes, if a guy could find a decent outlet for our finds instead of just scrap value, thats the thing to do..
Mud
I keep all the gold/silver coins in my pocket and pitch it to a likely looking candidate who may show up...one guy bought 200 of my wheat pennys for 3cents each!
.That was a hard earned $6 dollars! Its hard to offload this stuff for a decent amount...I sold one silver bracelet to a lady for $40 once...Yes, if a guy could find a decent outlet for our finds instead of just scrap value, thats the thing to do..Mud
icurabeachguy
New member
Yup, ARA is the best refiner and their customer service is top notch. All finds that are branded (Cartier, Bvulgari, Tiffany, etc...) are best sold on eBay with a fixed Buy it Now price that is higher than scrap, but lower than the jewelry stores.
Rings with high quality stones greater than 0.5 carat are a whole different story. Some won't even bother with the smaller stones less than 1 carat. There are some specialty places that sell high dollar rings with stones on consignment, but I've never used them to sell...most are located in the NY Diamond District. The one ring I've found (in my avatar) with a visibly nice diamond was first appraised at a local jeweler to confirm my suspicion that it was a high quality diamond, then unmounted from the setting by my jeweler and sent to GIA for grading (check their website about sending your stones for grading). To make a long story short...get loose stones graded with GIA before trying to sell them.
Rings with high quality stones greater than 0.5 carat are a whole different story. Some won't even bother with the smaller stones less than 1 carat. There are some specialty places that sell high dollar rings with stones on consignment, but I've never used them to sell...most are located in the NY Diamond District. The one ring I've found (in my avatar) with a visibly nice diamond was first appraised at a local jeweler to confirm my suspicion that it was a high quality diamond, then unmounted from the setting by my jeweler and sent to GIA for grading (check their website about sending your stones for grading). To make a long story short...get loose stones graded with GIA before trying to sell them.
icurabeachguy
New member
PSS1963 said:
they melt whatever you send them and whatever pure gold you have left is what they base their price on (assay)...so yes, they can tell. I have sent rings that fooled me on a scratch test and they send back your blobs of metal along with any stones if you request it. Also, if it's going to be your first time dealing with them, just call and explain that you're a detectorist and they'll walk you through the process...very nice people and great service.
Any quality gold shop will have a analyser that looks like it comes from star trek phaser, it zaps the gold and gives an instant readout to the grade and materials its made from.
These zappers cost mega bucks ($20K each plus) so not home use at all. The shop I use has about 6 of them but then they are buying tons of gold per week.
These zappers cost mega bucks ($20K each plus) so not home use at all. The shop I use has about 6 of them but then they are buying tons of gold per week.