gold

[steve88]

Anyone selling gold chains or ring?

I was given a gaudy 24k gold chain from hongkong and 24k ring. I am thinking of selling it.

[yakers]

Sold off some gold coins around $1,200, no regrets. Wish I had more to sell.

[FUEGO]

I have 0.2 ounces of gold in the form of American Eagles, and maybe 50-100 ounces of silver in the form of American Eagles and the old Peace silver dollars and Morgan silver dollars. The older Peace and Morgan coins were pieces I bought from my grandmother that were in my grandfather's estate (bought at $6/oz IIRC ~5-6 years ago). So a little sentimental value there, but there are a lot of coins, so I may consider selling some or most. I figure I could clear $1500 from selling most of my collection, ignoring the potential to get more than melt value out of some coins that are 100+ years old. (and I would hate to see these pieces of history get melted)

I do wonder if having a few dozen ounces of silver coinage and a couple 0.1 ounce gold coins could be useful in a doomsday scenario. I don't want to belabor the point since it will derail the thread.

[JOHNNIE36]

Yesterday, on one of the major TV networks, there was a segment about selling gold and how many people are getting ripped off on the price. Most of the mail-in types are not good. It is recommended you go to local dealers and compare their prices.

[Texas Proud]

Quote:

Originally Posted by JOHNNIE36 Yesterday, on one of the major TV networks, there was a segment about selling gold and how many people are getting ripped off on the price. Most of the mail-in types are not good. It is recommended you go to local dealers and compare their prices.

Yep... from the report I saw about a year ago.. they pay 45% to 55% of the value... most people either take the money and don't care... some are mad when they find out that there is a lot less gold in their jewelry than they thought....

[steve88]

any demand on a 2ct moissanite 14k white gold ring?

[haha]

Quote:

Originally Posted by steve88 Anyone selling gold chains or ring? I was given a gaudy 24k gold chain from hongkong and 24k ring. I am thinking of selling it.

What bids did you get on these?

[braumeister]

The WSJ did a piece on this last year, and sort of recommended U. S. Gold Buyers as the best place for both service and percentage of spot price paid to the seller.

I sold them some old jewelry last year and was very happy with the price I got, even after checking the spot price that day. I seem to recall that I got close to 90% of spot.

[harley]

Actually, for jewelry the best bet is often a pawn shop. They pay for the piece, not for melt value. They tend to give decent prices compared to the cash for gold places. And that way if there's any sentimental issue you can be assured that someone else will be enjoying it.

[bbbamI]

I know this thread is about a month old, but here is an article on selling gold.

It is a lot easier to buy gold than to sell it -- at least for a good price.
It isn't that there aren't plenty of opportunities to sell out there: Gold purchasers are swarming like mosquitoes after a summer shower. Local jewelers, coin shops and seemingly every other cable-television advertiser will buy your gold and maybe even your silver, too.

other-gold-rush-selling-it: Personal Finance News from Yahoo! Finance

[Meadbh]

No, I'm buying gold. I'm having a crown put on a back tooth this week. The front is porcelain and the back is gold. I didn't time it well re: the price of gold, but I may be losing my dental benefits soon.

Unfortunately, dental gold reserves don't have high liquidity!

[braumeister]

When my dentist replaces a gold crown, he gives you an envelope you can use to send the old one to a lab that buys them.

[Koolau]

No reason to get ripped off if you know the current prices of the metal you wish to sell and the content of what you have to sell. I don't happen to know the % "mark up" or typical bid/ask differences of most dealers for "junk" jewelry, but it should be something you can research. On coins, the spread should only be a few % between bid/ask. I sold a few silver coins several years back and legitimate coin dealers were within a dollar/oz out of roughly $15/oz silver. I would never send anything off to someone and I would know what to expect (within usual tolerances) on any piece I showed to a dealer before going in to talk turkey. This ain't rocket science.

I agree with Feugo (and not to hijack) that a small stash of (e.g. US coins) silver/gold is not a bad crisis investment WTSHTF. YMMV