When to sell gold?

[EmilyHearts]

Hello!

I received a postcard in the mail from this Diamond Exchange store nearby. They are having a "Gold Buying Celebration" where they take you gold and turn it into scrap.


1)
Is it worth it to sell my gold jewelry as scrap?

2)
And is it smart to sell my gold now or wait until I REALLY need the money.

3)
When is the best time to sell gold? When the economy is really bad or when it''s recovered?


Thank you! Any help will be greatly appreciated

 

[Dancing Fire]

Date: 5/9/2009 4:08:34 AM
Author:EmilyHearts
Hello!

I received a postcard in the mail from this Diamond Exchange store nearby. They are having a ''Gold Buying Celebration'' where they take you gold and turn it into scrap.


1)
Is it worth it to sell my gold jewelry as scrap?

2)
And is it smart to sell my gold now or wait until I REALLY need the money.

3)
When is the best time to sell gold? When the economy is really bad or when it''s recovered?


Thank you! Any help will be greatly appreciated

if i knew ...i wouldn''t be sitting here.

 

[Pandora II]

I was talking to a friend of mine who is a jeweller the other day - his company buy scrap gold and he was telling me how great it was at the moment because loads of people were selling and the price he was paying was ridiculous even in his eyes...

Remember, when you are selling scrap gold, it is the weight of the ''actual gold'' that they are buying, not the weight of the piece. So if you have 10g of 18k gold, you will only be selling 7.5g of actual gold - the other 2.5g is just alloys. If the pieces are 14k then you have just 5g of gold etc

To be perfectly honest, unless you have a load of squished empty settings, broken chains etc lying around, I would recommend selling the items on eBay - more hassle but you''re likely to get more than you will for scrap.

 

[strmrdr]

Sell when you think the price has peaked but read this first....

http://journal.pricescope.com/Articles/63/1/Selling-Gold-and-Platinum-Jewelry-for-the-Melt-Value.aspx

 

[Dancing Fire]

a friend of mine use to own a coin shop,he would pay 78% of melt for scrap gold.