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Re: Gold for cash? Any thoughts about doing it RIGHT! Posted by Ari [Email]  (#2847) [Profile/Gallery]
(more from Ari) on Sun, 16 Dec 2007 13:53:01
In Reply to: Gold for cash? Any thoughts about doing it RIGHT!, joewayrn, Sat, 15 Dec 2007 18:09:39 Members do not see ads below this line. - Help Keep This Site Online - Signup |
As the others have said, sell it as pieces. There is workmanship in the pieces, and that adds some value.
Also - I'll bet you don't have the facilities to melt it down. This isn't just a case of hitting it with a torch until you get a blob of metal. And then, it's not gold. Or not all gold. I'll bet most of the pieces aren't 24 K (pure) gold. It's likely most is 18 or possibly 14. That means that at least 25% of it is other metals - silver, copper, zinc, etc. And not all of the pieces in the piece are gold - latches can have steel and other metals for springs, clips, etc. So now you're going to have a lump of gold alloy. Any place you sell it to is going to hit you with three discounts - (1) a percentage off the price of gold because it's not 100% pure, (2) another percentage because undoing the alloying takes lots of work, and (3) their profit.
I would bring the pieces around to a few jewelry shops and higher end antique stores that specialize in old and estate jewelry. As the others have said, you'll soon get an idea of the value. If you wanted to get a very rough idea of the value of the gold, I'd weigh all the pieces, divide by half, and multiply that by the price of gold. If you use a regular kitchen scale, multiply the weight by 10% - precious metals are measured in Troy ounces, which are about 10% heavier than an avoirdupois ounce used for most things like food.
So if your kitchen scale says 4 ounces, multiply that by 10% (4.4), divide by about 2 (for the lower concentration of gold and overhead), and take the remainder (2.2 ounces) and multiply it by the price of gold - about $800 or so. Yeah, that's $1.6K. Maybe yes, maybe no. That's assuming the pieces are mostly gold - not gold filled (a layer of gold over silver or copper).
But try a few jewelry stores. Your protection is in their lack of cooperation.
posted by 76.243.123...
, Sun, 16 Dec 2007 13:53:01 <-- Viewing This Message, Sun, 16 Dec 2007 14:11:09
, Sun, 16 Dec 2007 11:57:40
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