((UPDATE)) Does no markings = NOT gold??? Need some help here...

[Minrelica]

Went out for 2 hrs after work today to hunt the outskirts of a tot lot where I found a couple of coins a few weeks ago and here's what I found.

I've had a couple of beers tonight so I'm just gonna get to it.

I found this necklace but I know absolutely noting about jewelry other than to look at the clasps for markings with a loupe. I did that and found nothing. I'll bring this into my local jeweler on Monday but I'm wondering what Tnetter's first opinions may be.

I also need to know what the lion thingy is. It's got a gold color to it when it's wet.
(I know it's not gold though...)

Update: The necklace turned out to be 22K gold! See post.
http://forum.treasurenet.com/index.php/topic,325728.msg2366825.html#msg2366825

 

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[Minrelica]

Hey Wit , Congratulations !!! - but hold the phone Friend , who told you that a 1/4 oz.
of 22K gold is worth only $50- $100. bucks If gold was only $1200. oz.-- and you divide
by 4 , you get $300. -- multiply that times 91.6 % (22K) - you get $274.80 - your chain is worth
about $275. not $50 or $100. Hope this is helpful and in time ! Argentium.

Hmm, I have basically 0 experience with gold and jewelry so this is a real learning experience for me. I don't understand how these jewelers can be so far off on their judgments. The jeweler who tested it was the one that told me the approximate value and he really had absolutely nothing to gain if he purposely gave me a wrong estimate because they don't buy gold, they only sell it.

My friends father has been selling gold to the same person for 20+ years and I will be getting in touch with them to see what they would offer for the necklace. I'm not money hungry but it would be a nice feeling to sell a find.

 

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[Tuberale]

So 1/4 oz. of 22 KT gold chain will eventually yield about $275 worth of gold at $1200/oz. But before that happens, the chain needs to be remelted and refined again. So actual cost will be less. Of course, if you add it in with other gold scrap, the cost can be spread out more. So the botomline is whether a gold dealer is giving you a good deal or just a transaction.

 

[creeper71]

Hey Wit , Congratulations !!! - but hold the phone Friend , who told you that a 1/4 oz.
of 22K gold is worth only $50- $100. bucks If gold was only $1200. oz.-- and you divide
by 4 , you get $300. -- multiply that times 91.6 % (22K) - you get $274.80 - your chain is worth
about $275. not $50 or $100. Hope this is helpful and in time ! Argentium.

Hmm, I have basically 0 experience with gold and jewelry so this is a real learning experience for me. I don't understand how these jewelers can be so far off on their judgments. The jeweler who tested it was the one that told me the approximate value and he really had absolutely nothing to gain if he purposely gave me a wrong estimate because they don't buy gold, they only sell it.

My friends father has been selling gold to the same person for 20+ years and I will be getting in touch with them to see what they would offer for the necklace. I'm not money hungry but it would be a nice feeling to sell a find.

he has a whole lot to gain...like 175-225.00 selling it on his own or melting it down an making other jewlery with it..

 

[Argentium]

No ! the chain does not need to be remelted , refined or anything it is already HIGH KARAT,
GOLD , please excuse me for yelling , but 22 out of a possible 24K is worth 91.6 % of current
spot gold market right now ! Do not take less than $250.00 cash in your hand for this chain .
Argentium.