Precious Metal ID?

[Captain Hook]

What do you use to determine if something is sterling silver, 10k or 14k gold when the item is small with no visible markings on it?

 

[Mike from MI "Iron Brigade"]

I use the Minelab Gold tester to dertemin the gold content. I also have an acid kit. The acid tests silver also but I don't think the amount of silver like 925 (sterling) or 90% like coin silver.

 

[Missouri--Ma Betty]

That reminds me of a question that I an concerned about and don't know if anyone can give me the answer or if I could understand the answer to my question? My question is: How do you determine the value of a gold ring that is based on 10-K, 12-K, 14-K and etc. I know that value is based on 24-K gold...but how do you determine the value of rings that are of less Karat or have precious stones in them? Is the value based just on the gold content or on both gold content and the value of the precious stone or jewel set in it? For instance is there any way to determine value myself without having rings and even coins appraised? I need to sell some of my coins and rings but want to have an idea of what they are worth without going to the jewelry and coin dealer first before selling? For example Happy Harold bought a ring for $200 and after appraisal it was worth $1700.....I need all the value of what mine may be woth that I can get for I don't want to cheat anyone nor do I want to be cheated! What I have from and collecting is my savings, so to speak and now I need to sell my savings to help pay my bills and debts! I hope you can understand what I am trying to say! How do you determine the grams of gold in coins and rings to have an idea of what they are worth whether selling or even buying! I know that the gold rate goes up and down so depends on the worth of gold on day of sale! Thank you and God Bless! Ma

Steve in LA, do you still have the name of that place (I believe in Michigan) that you would send your gold items to and they would return the money and you seemed to think they were fair! I used to have the name of the company but lost it when I lost a lot of my information on the NET! Thank you! Ma

 

[Mike from MI "Iron Brigade"]

You can buy a small scale that gives you the gram weight real cheap. Like under $10. 24K is pure gold so that would men that 10 K is less than 50% pure and 14 is over 50% pure. So think of it this way, if you had an ounce of 12K gold you would have a 1/2 once of pure gold. Therefore with gold at about $1200 per oz, then that half oz would be near $600. Midwest refineries is the place here in MI that gives about 94% of the value of your weight in gold. It is best to take any stones out yourself, but small stones are worth almost nothing. Even those rings with like 50 small diamond chips, the stones are worth very little. It's almost best to take a ring with nice stones and sell it for a certain amount over what the weight in gold is worth to a private buyer. The jewelry and pawn shops will not give you close to the value at all. If you want any help selling any of that stuff just let me know. I know you got my number.

 

[Missouri--Ma Betty]

Thanks Mike for the information which I did know most of it but just forgot as my memory isn't what it used to be for this old lady! Would be nice to sell on days when gold is up and highest but that would be difficult to make it happen exactly that way! LOL! Have to buy the scale and a Jewelers glass and then find the boxes and go though the items; so will be a little while before I sell anything! Going to have an auction, as soon as I can, for selling my extra furniture and stuff like that so have to call and see what I need to do to get ready for an auction by May or June! Don't know if I have your number handy as I haven't called you in quite some time! Sounds like you are doing much better financially and that is good to hear for I knew oil prices were rough for awhile with no snow and jobs scarce in the winter! God blesses and meets the needs when we are patiently asking for help and waiting for His answer! Will be fun (maybe) looking for those mint marks and etc. when it is difficult to see! I may have Cataracts, so gotta get to the eye dr and have my eyes checked, for it has been a long, long time! Take care of those grandsons and go find the goodies for you are really good at it and wished I had been as good as you, Steve, Leslie and many others finding the gold and precious jewels! SAD!! God Bless and will let you know by PM when I need more information or to sell something quick!

Steve and Leslie, if you have anything to add to the information I've asked about than feel free to let me know or anyone else! I have a habit of keeping STUFF too long! Thanks! God Bless! Ma

 

[WaterHound]

Thanks for the name of the Midwest refineries ,and good looking out for sister ma Betty .

 

[steve in so la]

Midwest Refinery
4471 Forest Ave
Waterford, Mich
48328

I leave the 'Refinery' name off on the package so as to not get anyones attention.

Steve

 

[Missouri--Ma Betty]

Thanks Steve, but do you just put Midwest and the address and nothing by the Midwest? Will it get there Okay...just using Midwest for the place to send it? As far as Insuring the pkg...do you know the value of the item for insurance cost or do you know approximately by guessing! And/or do you get the pkg and Label from Midwest to send it there and I guess they send it back in their pkg or envelope with their return address? Sorry I seem dumb or I am for asking but better safe than sorry and will be awhile before I can send anything...gotta get ready first and that means searching for boxes and looking through them for the items I want to sell and send! Need brand new eyes to see but hope to get a very good magnifying glass or Jewelers Glass, I think that is what they are called, so I can see those tiny mint marks! Don't know if I will need a tester or not for testing gold and silver but I guess it would help depending on how expensive they are! Thank you, again, and God Bless you and Nancy! Go get the gold (hope you do) and have fun finding hidden treasure! Ma

 

[steve in so la]

Yes, just Midwest. I just guess at the insurance. I send it in a US mailer box from the post office. The kind that's only about 5-6 bux. If anything is not gold or silver they send it back and take the cost of mailing out of your final check. Otherwise I guess people will send in anything to be tested by them for free.

Good luck, Steve

 

[Missouri--Ma Betty]

Thanks Steve; so I guess I will try to send silver and gold by using the Mint Mark if possible; otherwise I will need a tester for each, because I think I do have some that I don't know if real silver and gold! I know that gold filled and silver plated aren't really precious metals! I know some may say PLUM but not sure what that is? Thank you for the info....really helps me to have an idea of what to do and what the refinery will do! Mike has offered to help and I may use his help! Ma isn't as aware of things like I used to be.....Age, sickness and diseases make the body ill and the mind weak! God Bless! Ma

 

[Blind Squirrel]

Howdy Missouri-Ma Betty--

Here is a sight that you may find useful in determining the scrap value of precious metals including coins. All that you have to do is enter the weight, KT and the site calculates the $ value with respect to the current spot price. You can get the values of Gold, Copper, Silver etc. I have found it to be a very good site.

http://coinapps.com/gold/scrap/calculator/

God Bless you.

Blind Squirrel