Gold ring on first hunt !

[Dan61]

I hunted the ace for the first time tonight. Went to the play ground and messed around for 1 1/2 hours.
The chips were so frozen, I could only scrape through the first couple of inches. Man, I about died
when this turned up. It was no more than a half inch in the bark. Someday, I'll be able to chalk this up
to experience, but tonight it was nothing but beginners luck. My best find prior to this was a button estimated to
be from the 30's or 40's. That was three years ago. It was on the surface, but was perfectly blended to
the soil. The ring is marked 14k FG. Not really sure if it's a G or just a symbol of some kind.Hope it doesn't
stand for " Fake Gold", lol. Will go to the jewelry store tomorrow. HH Dan

 

[awhitster]

Please let us know. All I can find is GF (filled gold). My jewelry book doesn't show nothing for FG. If you don't have a loupe you need one.

 

[cwilk]

Sometimes I go for weeks or months without any really good finds. Very nice find. I hope it isn't gold filled.

Good luck!

Chris

 

[bearkat4160]

n/t

 

[treasurefiend]

Great Find!!!

 

[Goes4ever]

I did a google search on 14K FG and here are some things I found

http://answers.yahoo.com/question/index?qid=20061215220855AAmBCMw

take your pick they give several meaning, I'd pick FG = Fine Gold

 

[Dan61]

n/t

 

[Dan61]

I'm going with fine gold for now. Will know more after I go to the jewelers.
Will post back here later.

 

[Dan61]

the ring is 14k, and worth about $40 on scrap value. Would cost "a good $150 or so" to buy something similar.
He thinks the F G is a manufacturers mark. HH Dan

 

[Goes4ever]

well then congrats!

 

[cwilk]

With gold at $1000 an ounce 14k scrap gold is $18.75 a gram. That ring has to be 4-5 grams at least. You could sell it on ebay and get very close to actual value selling it for scrap. I appears to be in great shape and I bet you could get over scrap value. His offer of 40 bucks is what a lot of jewelers, coin shops, or pawn brokers do. They offer half and sometimes less. I realize they have to make something as does the guy they sell it to but, come on.

I strongly suggest you get a small, accurate jewelers scale. One that reads in grams, pennyweight, grains, troy ounces,and standard ounces. At a minimum you need grams, ounces, and pennyweight. I would not be without mine. I have several including a small one in my field kit. They are 10 to 20 bucks and you never know when you'll need it.

Your band is a real nice find. I found a tiny gold ring this afternoon, details to follow after I get photos.

Chris

 

[Dan61]

The ring weighs in at exactly 6 grams. At $1000 per ounce, thats right around a
hundred bucks. Even though it's not for sale, I will show it to the pawn shop and other
jewelers to hear what they have to say. Not real sure how that all works(fee's and such),
as this is the first gold I've found.

 

[cwilk]

6 grams divided by 31.1 grams per troy ounce times 14/24 times $1000 per ounce =$112.54 ($18.75/Gram.)

I'll say it again. If you sell it on ebay you'll get very close to that, possibly more. If you sell it to a jeweler/pawnbroker he (or she) will offer anywhere from $40-$80 for it. If you get around an ounce of pure gold, there are assay companies who will melt your scrap down, determine exactly how much gold there was and pay anywhere from 85-95 percent. There are of course shipping charges.

I sell my gold that I find metal detecting. I also buy scrap gold and pay a better percentage than my local coin shop. I do not advertise people just know and with the high price of gold more and more people are willing to part with it. I have tried all possible ways to sell gold and the very best way is Ebay. That is assuming you can take a decent photo and compose a decent ad. That you have a decent scale and are giving an accurate weight. Ebays listing fees have recently gone down but the final value fees are higher, roughly 4-5 percent. I do not use Paypal because they take a chunk too.

I found the best on-line assayer is Midwest Refineries. As I said, to get their very best deal you have to have a quantity, roughly 60-70 grams of scrap gold jewelry.

I found about 70 grams of gold last year. I kept a few rings, sold the rest. There are a few posters on this forum who feel selling rings is sacrilege.

Chris

PS If a friend came to me with your ring, I would offer $80 for it.