Cash for finds.

[Mikel]

Lets say I find a 10k ring that weighs 10 grams. How much cash would it bring scrap value for the gold, and where could I sell it to get a fair price.

 

[Steve in PR]

A 10K, 10 gram ring has about 4.16 grams of pure gold in it. About $80 worth of gold, at recent gold prices. A smelter would give you the value of the gold minus their processing fee (about 6% of the gold value) You would have to deduct shipping and handling too.

This model assumes that it is 100% metal, no stones. If it is sent to a smelter, stones would be removed then the piece would be reweighed.

Some say selling it as is to someone might get you a better return.

 

[Mikel]

Thanks.

 

[Gulf Hunter]

www.midstatesrecycling.com and check out the karat calculator. I weighed all my loot the other night just for fun. I ain't sellin' me loot. Today's gold price is $539.90 and your 10k 10g ring would fetch you $68.39 according to my calculations. Wadda ya think?

 

[padigger]

Better yet Mikel, lets say ya find 2 18K gold rings

 

[Mikel]

I think a bucket full of them would be better. I know a guy who has a 1/2 gallon jar of class rings. He keeps them in the kitchen on the windowsill. Guess he wants to make it easy for thieves.

 

[Boony]

Hi Mikel,

Over here our local jeweler will buy gold providing you melt it down into small ingots and he said to melt it into it's various Carat ratings 9k together, 18k together etc, and he pays a pretty fair price. The trick is getting enough to make it worthwhile.

Hope this helps.......Regards......Boony