Jewelry - Should you cash it in?

[Groovedymond]

I haven't found much yet ( a ring, and two sterling silver pendants). My question is have any of you, or do any of you trade in your jewelry? If so, does it produce any decent amounts of cash? Where do you sell them too? Pawn shops

I'd just like to know for future, when i've found enough.

Thanks for the advice.

 

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[mthole]

In my opinion a pawn shop will not give you a very good deal. If there are not stones or diamonds, try a coin shop. They will buy at current gold or silver weight. Larry

 

[thompy]

from what ive heard midwest refineries gives the best deals, one of the guys on the gold forums here also refines and says he is pretty fair also

 

[boogeyman]

What matters most to YOU? Do you get more enjoyment showing off your finds or having some cash? What matters most to you is #1!

Stay away from Pawn Shops at all costs. They will only pay you low spot for your jewlery items - what they figure their overhead is. Midwest is a reputable buyer. If you don't need the cash right away, hang on to it for a rainy day. With the predicted prices going up sitting on your finds till later might be the best idea. What matters most is what gives you the most enjoyment!

 

[Sandman]

I have sold many of my gold rings for melt value at Midwest Refineries at 94% of Spot price which is about 5 times what you'll get elsewhere. Pawn Shops will give you pennies on the dollar and aren't worth the effort to walk in the door. You can sell them to co-workers or friends. They make great gifts to relatives too.

Remember that once you sell them that they are gone forever. All you might have gotten out of it was gas money for nothing. It is much better to save them for a time when the price of gold goes way up or just save them for looking at later. Money you find now can be spent or given to grand kids when you take them to Toys-R-Us.

 

[bradyboy]

great info on this post, very helpful

 

[TooManyHobbies]

You could also bring to a jeweler and have him melt and design a new piece for your spouse. A new ring from an old one.

 

[finderzzs]

Ditto on Midwest Refineries. I scrapped my plain gold rings last year and got $2500. Better than if you hoard them and one day they come up missing... They pay for my toys.

 

[Groovedymond]

Thank you all for your opinions. You have all made some great points.

One of my reasons for writing was the fact that of course, on my mind right now is saving up to get a fancy dancy new detector. Although the clad adds up, at the rate that i'm finding it, it will take me a good 5 years or better before I can afford a really nice one. So, my thoughts were that if I sold some of the jewelery that I find, that it might help me to get more money faster.

Also.. please keep in mind that the jewelery that I have found has been really nothing special. If I found a nice ring or necklace, then I would consider not getting rid of it.

Meanwhile... for the odd ball stuff.. I'll take a few pictures to record my finds, then perhaps sell it off.

Thanks for the great info!