Help with scrap gold?

[arjunajane]

Hello,

I know this has been asked recently, but due to the search function being down I am having trouble finding the thread I''m after...
DF, I believe you answered last time.?

Can anyone advise what I should expect a fair price for scrap gold at current prices?

I have 18k and 14k to scrap, wondering if it is worth it..

Thankyou!

 

[jewelerman]

i think 14 karat is going for 13-15 dollars a gram...call a pawn shop and ask what they are offering per/gram for 14 and 18 karat gold.

 

[hawaiianorangetree]

What ever you do DON''T go to one of those "Gold Dealer" kiosks that seem to be popping up in all of the shopping centres around Perth!

My Hubby has a ring that was to be his wedding ring from a prior engagement. He wont wear it so we were thinking of selling it. I took it back to the jeweller where we got it from to ask for his opinion on whether to try and sell it as a ring or for scrap. He told us to try and see it as a ring first and if not scrap it. He said the bare minimum we should take for it was $1100 as scrap, as that what the weight was worth.

I took it to one of those kiosks and they offered me $80. How disgusting! I mean, i knew it would be less than what he paid for the ring (retails now for $3000) but $80?? Come on!!

 

[arjunajane]

Date: 4/28/2010 2:03:20 AM
Author: hawaiianorangetree
What ever you do DON''T go to one of those ''Gold Dealer'' kiosks that seem to be popping up in all of the shopping centres around Perth!


My Hubby has a ring that was to be his wedding ring from a prior engagement. He wont wear it so we were thinking of selling it. I took it back to the jeweller where we got it from to ask for his opinion on whether to try and sell it as a ring or for scrap. He told us to try and see it as a ring first and if not scrap it. He said the bare minimum we should take for it was $1100 as scrap, as that what the weight was worth.


I took it to one of those kiosks and they offered me $80. How disgusting! I mean, i knew it would be less than what he paid for the ring (retails now for $3000) but $80?? Come on!!

Thankyou for that advice hawaiian.

I was actually just looking at one of their websites, but was a bit hesitant.

I''m pretty sure mine will have to go as scrap rather than as a whole piece, but still.

That is ludicrous what they offered you! Have you sold it yet? If so, do you mind to share where? I don''t really know of any decent pawnshops, except cash converters which I''m sure would scam you too

 

[arjunajane]

Date: 4/28/2010 1:49:27 AM
Author: jewelerman
i think 14 karat is going for 13-15 dollars a gram...call a pawn shop and ask what they are offering per/gram for 14 and 18 karat gold.

thanks jewelerman - I just called the only one I could find local (that isn''t a rip-off chain), and he said $17 for 18k and $10 for 14k..
this is Au$, so that makes it more like $15 and $9..

so I could assume that isn''t the best offer then?

 

[Dancing Fire]

say you have a 18 kt gold chain that weights 1 troy .oz (31.1 grams) 18 kt = 750 fine or 75% pure gold,now lets say spot price of gold is $1100 per oz,there for you take $1100 X .750 = $825 in melt or gold content.

 

[arjunajane]

Date: 4/28/2010 2:36:02 AM
Author: Dancing Fire
say you have a 18 kt gold chain that weights 1 troy .oz (31.1 grams) 18 kt = 750 fine or 75% pure gold,now lets say spot price of gold is $1100 per oz,there for you take $1100 X .750 = $825 in melt or gold content.

Thanks DF

Do you have a site you particularly like for the current spot price?

 

[Dancing Fire]

arjuna
base on yesterday''s N.Y. spot price of $1165.50 per oz.

18kt gold is worth $28.10 per gram in melt value
14kt gold is worth $21.86 per gram in melt value

last month i sold some scrap gold for melt value.

 

[Dancing Fire]

Date: 4/28/2010 2:24:05 AM
Author: arjunajane

Date: 4/28/2010 1:49:27 AM
Author: jewelerman
i think 14 karat is going for 13-15 dollars a gram...call a pawn shop and ask what they are offering per/gram for 14 and 18 karat gold.

thanks jewelerman - I just called the only one I could find local (that isn''t a rip-off chain), and he said $17 for 18k and $10 for 14k..
this is Au$, so that makes it more like $15 and $9..

so I could assume that isn''t the best offer then?

rip off!!! see my post above.

 

[arjunajane]

That''s great, cheers for the info DF.

I agree, it''s a rip off. Not sure if I''ll find something better, but fingers crossed..

Thanks again

 

[hawaiianorangetree]

Date: 4/28/2010 2:11:11 AM
Author: arjunajane


Thankyou for that advice hawaiian.

I was actually just looking at one of their websites, but was a bit hesitant.

I''m pretty sure mine will have to go as scrap rather than as a whole piece, but still.

That is ludicrous what they offered you! Have you sold it yet? If so, do you mind to share where? I don''t really know of any decent pawnshops, except cash converters which I''m sure would scam you too

We still have the ring. I haven''t been very proactive about selling it but should probably try again. Maybe i will look around for decent scrap places too. I think you are right about cash converters, i couldn''t see them giving a fair deal either.

 

[hawaiianorangetree]

http://www.australiancashexchange.com.au/find

I just found this site but i don''t know how reputable it is or if the prices they are offering are worth it. Perth mint also buys gold but i''m not too sure if they would take jewelry, it probably more for gold in it''s natural state.

I will ask my dad if he knows the best way how, he used to do a bit of prospecting back in the day.

 

[Stone-cold11]

This.

http://www.kitco.com/charts/livegold.html

 

[AGBF]

Date: 4/28/2010 1:47:09 AM
Author: arjunajane

I know this has been asked recently, but due to the search function being down I am having trouble finding the thread I'm after...
DF, I believe you answered last time.?

Can anyone advise what I should expect a fair price for scrap gold at current prices?

AJ-I know the thread to which you are referring and know that this one isn't it, but I thought that I would post a link to this thread since it, also, is interesting and germane to the disccussion! I found it while

looking for the scrap gold thread without benefit of the search function .

Deb/AGBF

 

[MichelleCarmen]

I sold scrap gold two weeks ago and got $16 per gram. I ended up with about $1,580 for it all. (ETA - almost all of it was 14K and spot price was approx $1125 that day)

It took A LOT of phone calls to find someone who would pay that much.

 

[Dancing Fire]

Date: 4/28/2010 5:01:29 AM
Author: arjunajane
That''s great, cheers for the info DF.

I agree, it''s a rip off. Not sure if I''ll find something better, but fingers crossed..

Thanks again

IMO...a fair price would be 90% of melt.

 

[VRBeauty]

Be sure to check out Wink''s journal article about selling gold for scrap value: https://www.pricescope.com/community/threads/selling-gold-and-platinum-jewelry-for-the-melt-value.97129/. 90% would certainly be fair, but... I think it also depends on who you''re selling to and whether they would be looking to take some profit from the transaction, and also how much you''re selling.

 

[arjunajane]

Date: 4/28/2010 6:58:07 AM
Author: hawaiianorangetree
http://www.australiancashexchange.com.au/find


I just found this site but i don't know how reputable it is or if the prices they are offering are worth it. Perth mint also buys gold but i'm not too sure if they would take jewelry, it probably more for gold in it's natural state.


I will ask my dad if he knows the best way how, he used to do a bit of prospecting back in the day.

thanks hawaiin - I did see those guys too, I'm guessing they will be not very fair, like cashies and those kiosks etc..btw, I called a cash converters near me and the really unhelpful 18yo old guy said "I don't know, we give like a couple bucks" when I asked per gram for 18k....thaaankss...

Let me know if your dad knows of any decent pawn shops - it seems to be a completely missing profession here!

.
I do remember one place I went when I was younger, there was a small one-man operation in an tiny office upstairs from the Hay st mall, and he gave very fair prices.
But for the life of me I can not recall anything that would lead me to him..

Any one know if jewellers are an option?(mum n pop type B&M's)..

 

[arjunajane]

Date: 4/28/2010 7:18:03 AM
Author: Stone-cold11
This.


http://www.kitco.com/charts/livegold.html

Thanks SC - that''s the one I was after.

 

[arjunajane]

Date: 4/28/2010 10:34:57 AM
Author: AGBF

Date: 4/28/2010 1:47:09 AM

Author: arjunajane


I know this has been asked recently, but due to the search function being down I am having trouble finding the thread I''m after...

DF, I believe you answered last time.?


Can anyone advise what I should expect a fair price for scrap gold at current prices?

AJ-I know the thread to which you are referring and know that this one isn''t it, but I thought that I would post a link to this thread since it, also, is interesting and germane to the disccussion! I found it while


looking for the scrap gold thread without benefit of the search function .


Deb/AGBF

Cheers Deb!
You''re correct, not the one - but any info helps.

ya, not loving the broken search function over here; didn''t really realize how much I use it until now

 

[arjunajane]

Date: 4/28/2010 1:21:54 PM
Author: MC
I sold scrap gold two weeks ago and got $16 per gram. I ended up with about $1,580 for it all. (ETA - almost all of it was 14K and spot price was approx $1125 that day)


It took A LOT of phone calls to find someone who would pay that much.

You must have had quite a bit MC...I''m starting to think perhaps it isn''t worth it..
I agree, it takes more legwork than I imagined to find a fair offering - anyone I''ve looked at so far is taking the pee-pee..

 

[arjunajane]

Thanks DF - I will go by 90% of melt, based off the calc''s you showed me. At least I can go in sounding like I know what I''m on about

Cheers VR - I did read that in the past, but will go back over it..I think my problem is the lack of places to sell here. There are literally 2 or 3 pawnshops (that I can find) in the whole city, that aren''t one of these franchise chain rip-offs

ah well - I may shop it around to a few jewellers, see what arises.


Thanks all for the input! I will update if I get a good result or not.

 

[Dancing Fire]

Date: 4/29/2010 11:20:44 AM
Author: arjunajane
Thanks DF - I will go by 90% of melt, based off the calc''s you showed me. At least I can go in sounding like I know what I''m on about

AJ...i remember my friend whom used to own a coin shop during the 90''s was paying 90-93% of melt depending on the amount of scrap gold a customer brings in the shop.he pays more for larger amount,cuz he can get 97% of melt.

 

[Dancing Fire]

Date: 4/28/2010 1:21:54 PM
Author: MC
I sold scrap gold two weeks ago and got $16 per gram. I ended up with about $1,580 for it all. (ETA - almost all of it was 14K and spot price was approx $1125 that day)

It took A LOT of phone calls to find someone who would pay that much.

that''s stealing

i would be happy to pay 88-90% of melt.

 

[AGBF]

Date: 4/29/2010 11:15:30 AM
Author: arjunajane

ya, not loving the broken search function over here; didn''t really realize how much I use it until now

AJ-You are right on target! Not having a working search function has been driving me insane! I have been going on manual hunts and, I assure you, they have not been highly productive!!! It''s good to be in a

thread with you again, friend .

Hugs,
Deb/AGBF

 

[Hest88]

A friend of a friend recently sold a lot of gold at a Chinatown jeweler. I''d only go that route, though, if you had a Chinese friend who who can help negotiate. This person bargained hard with the jeweler but got a nice price.

 

[MichelleCarmen]

Date: 4/29/2010 12:37:50 PM
Author: Dancing Fire

Date: 4/28/2010 1:21:54 PM
Author: MC
I sold scrap gold two weeks ago and got $16 per gram. I ended up with about $1,580 for it all. (ETA - almost all of it was 14K and spot price was approx $1125 that day)

It took A LOT of phone calls to find someone who would pay that much.

that''s stealing

i would be happy to pay 88-90% of melt.

It was the best I could find after calling a bunch of places. Ugh.

 

[MichelleCarmen]

Date: 4/29/2010 11:20:44 AM
Author: arjunajane
Thanks DF - I will go by 90% of melt, based off the calc''s you showed me. At least I can go in sounding like I know what I''m on about

Cheers VR - I did read that in the past, but will go back over it..I think my problem is the lack of places to sell here. There are literally 2 or 3 pawnshops (that I can find) in the whole city, that aren''t one of these franchise chain rip-offs

ah well - I may shop it around to a few jewellers, see what arises.


Thanks all for the input! I will update if I get a good result or not.

Just a bit of info. . .I didn''t go to a pawn shop, per say. I mean it IS one, but not like the corner store one. It is located in one of the upper-class cities near Seattle. I figured the more expensive areas might lead to higher pay. The amount of gold I had was a tad under 100 grams.

The guy commented on my DBTY platinum pendant and I told him it was custom made (by a local jeweler he recognized the name of) and he said it probably cost $4K to make! They totally up the price on stuff to justify selling for so much less than "actual" retail price because I sure didn''t pay that much for it!

 

[hawaiianorangetree]

Date: 4/29/2010 6:07:17 AM
Author: arjunajane


thanks hawaiin - I did see those guys too, I''m guessing they will be not very fair, like cashies and those kiosks etc..btw, I called a cash converters near me and the really unhelpful 18yo old guy said ''I don''t know, we give like a couple bucks'' when I asked per gram for 18k....thaaankss...

Let me know if your dad knows of any decent pawn shops - it seems to be a completely missing profession here!

.
I do remember one place I went when I was younger, there was a small one-man operation in an tiny office upstairs from the Hay st mall, and he gave very fair prices.
But for the life of me I can not recall anything that would lead me to him..

Any one know if jewellers are an option?(mum n pop type B&M''s)..

I spoke to my dad and he said the Perth mint, i didn''t call them but as far as i can tell from their website they only buy bullion and coins. Not scrap.

I had a look in the quokka and there were a few people in the wanted section. I rang a man from Gosnells and he was pretty rude. Wouldn''t tell me anything except that i had to bring the gold in. Another stated ''best prices in Perth'' and they will send someone out to you to give you a price, he was a little more helpful. I asked if they gave a percentage of the daily spot price and he said no. He said they would weigh what i had and give a price.

Maybe there is no where in Perth that would give a decent price like in the US, i will keep looking though, I don''t like not knowing the answer to something!

 

[arjunajane]

Date: 4/29/2010 12:49:32 PM
Author: AGBF

Date: 4/29/2010 11:15:30 AM

Author: arjunajane


ya, not loving the broken search function over here; didn''t really realize how much I use it until now

AJ-You are right on target! Not having a working search function has been driving me insane! I have been going on manual hunts and, I assure you, they have not been highly productive!!! It''s good to be in a


thread with you again, friend .


Hugs,

Deb/AGBF

Thanks Deb, you too