52 grams 14k (I hope!) I need to brag and want advise.

[batcap]

I did not find this with the Ace 250. I bought in a big bag of junk jewelry for $35 at auction. I finally got my test kit and scale in the mail this afternoon, so I "found out about it" today.

The bracelet weighs 25.6 g. It's marked where shown and on the clasp. I tested 3 places (including the chain) and I'm confident it's 14k.

None of the other stuff is marked. They are all scratched (mangled) and tested out to about 14k. The grand total is just about 52 grams.

Now, the request for advise - where do I sell it? I was drooling at Kitco.com with their buying price of $20.48 /g for 14k today . . . and then I saw the fatal "NOTICE: We do not buy jewelry from individuals."

 

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[colorado14ers]

wow!!! you scored big time!!!

 

[teleman 2525]

very nice find

 

[GioTheGreek]

That bracelet is bad a**. Id keep it and wear it.

But considering your profit margin on this one, selling would be ok too.

Nice find bro... and nice bracelet!

Santa maria!

 

[SilverSleuth]

aragold.com if you want to scrap it.

 

[timbobwey]

I might just keep that thing for down the road. It would also make a really nice piece in a display, you can always sell it later. Nice score, sometimes estate sales and garage sales have unbelievable items.

 

[zaxfire69]

Aragold.com for sure. Great people.

 

[Zofchak]

Awesome find!

I have not dealt with Aragold, but have heard nothing but good things about their service. I have dealt with Mid West Refineries in Waterford, MI and have been happy with all my transactions so far.

 

[joad]

I did not find this with the Ace 250. I bought in a big bag of junk jewelry for $35 at auction. I finally got my test kit and scale in the mail this afternoon, so I "found out about it" today.

The bracelet weighs 25.6 g. It's marked where shown and on the clasp. I tested 3 places (including the chain) and I'm confident it's 14k.

None of the other stuff is marked. They are all scratched (mangled) and tested out to about 14k. The grand total is just about 52 grams.

Now, the request for advise - where do I sell it? I was drooling at Kitco.com with their buying price of $20.48 /g for 14k today . . . and then I saw the fatal "NOTICE: We do not buy jewelry from individuals."

Try Gaithersburg Coin Exchange...call them...they quote over the phone.

Joad

 

[batcap]

aragold.com if you want to scrap it.

I read up on aragold before I decided to reply. They seem tiny and new according to the BBB, but no complaints so far, and everybody likes them. I'll likely go with them.

I wish I could save this stuff and admire it, but my fortunes will not allow it. Last week I had to cash in this year's clad ($115) to avoid over-drafting. If I would have asked first, I would have at least sent the cuff links to aragold instead of pounding out the stones.

Now, the reason I said "about 14k" . . .
I bought a gold, silver and platinum test kit from "ezsell" on amazon. The seller was great, but the product . . . hmm. You're hearing about it before I even tell him. You get several acids in 1/2 ounce bottles. It took a while before I realized the gold bottles are mislabeled. 10K(labeled) = 10K, 14K(labeled) = 22K, 18K = 14K, and lastly the 22K(labeled) is 18K.

With the above paragraph in mind . . I'd use the 10k acid and get a "better than 10K" result. Then I'd use the 14k acid and it would release a nasty brown smoke and boil on contact. After much confusion. I found that the 18K wasn't as strong as the 14K. But it was hard to tell which was strongest: 14k or 22k acid. I finally came to the conclusion that the 14k acid was the strongest, so they were all mislabeled except for the 10K acid.

The silver solution worked well; I don't have any platinum to test.

Not the best $15 I've ever spent, but not a total loss.

 

[testing123]

You could also consider selling on eBay. I've used Midwest Refineries previously and there are some surprises to having your pieces melted...

First, you need to keep in mind that even though your jewelry is stamped 10k or 14k, it may in fact contain less gold than indicated. Your 14k gold chain may only be 13.7k, etc. This will lower the amount of payment you're expecting.

There is also 2-4% loss when melting (quoted by Midwest on the phone). This will further lower the amount you receive.

Obviously the "settlement" date has an impact. Mine had "2/23/10" for a settlement date printed on the invoice, but then had a handwritten "4" over the "3." Gold was lower on the 24th than it was on the 23rd. Not sure why they delayed settlement by a day, but I have a theory...

Also, their scales will vary from yours as well. Your 20.4 grams may be 20.1 grams on their end.

Don't forget the cost of shipping to them as another added expense. That cost another 1%.

For example. I sent in 4 sterling spoons with a gross weight of 3.31 troy ounces (according to my scale). 3.31 x .925 = 3.06 troy ounces of pure silver. 3.06 x the 90% pay rate = 2.75 troy ounces of pure silver. The settlement spot price was $15.75. $15.75 x 2.75 = $43.31. Their scales showed 3.01 gross troy ozs and somehow they ended up paying $36.00.

I also sent in some gold jewelry... and got 9% less than I expected using their payment % model and gold market price indicated.

So, just keep in mind all of the unknowns and variables when sending metals in to be refined. It may, in fact be better to suffer through eBay's fees and come out the same, or even a little ahead.

 

[baylorhall]

ARA pays 98%, which I believe is better than Midwest. I have gone by there twice and been very pleased with the payments. It is a family owned business with a good reputation. The do it all there, so there is no middle man to get some of your money. Great find!

 

[wwace]

ARA=good

 

[treasurefiend]

HOLY COW!!!!! Man you made a killing with that auction!!!! BIGTIME CONGRATS!!!!!

 

[scaupus]

That's totally sick, as in really really good. I recently bought a jewelry box at a yard sale where they were selling some of mom's estate stuff, for $5, and besides a lot of trash I threw out, it actually contained about 5 Mexican and other heavy sterling cuff bracelets and some smaller stuff which I sold on ebay total over $300, but that doesn't compare to this.

 

[mikeinOC1]

ARA all the way. Very fair. Nikki is great. Sold a couple small groups of 10-14k gold rings /chains and very pleased with their payout. First time sold to Midwest. Frankly I was somewhat disappointed after hearing reasonable things about them - though to be fair they probably are better than the Cash for Gold and other copy kat crooks. Still I wish I had gone with ARA the first time around. Maybe another $60-100 more than what I got from Midwest for my first gold jewelry cash in which that was all 14k. I think ARA does make some money on the alloyed metals in the gold jewelry but hey they are the best on the gold portion and it is only fair the get some more out the jewelry for the high amount they pay on the gold.

 

[Call me a Plumber]

batcap, dude nice score. Try Cascade Refiners in West Valley City, Ut. 1-800-955-5857 21.27/gm for 20-100gms.
The Plumber.

 

[batcap]

Ok, here's the sad ending to this story:

It was ALL fake. I didn't get a cent for any of it from ARA. It made me just sick. I couldn't talk about it and just wanted to forget about it for weeks. Time healed this wound, and I've managed to make a few more little piles of gold and silver to send to ARA (but not like this one), and they've treated me quite well.
I'd finally forgotten all about it until The Plumber found the original post. I'm sorry it took 9 months to get that out, but I hope you understand why.

Oh yea, the reason it all tested out to 14K was that:
(A) My acid test kit was bad out of the box, most of the acids had gone completely bad, and a couple seemed to be in the wrong bottles, and
(B) I just didn't know what the heck I was doing. I've since gotten a GT-3000 gold tester, and stick to acid for silver testing only. CyberDan tests silver with his GT-3000, but I haven't gotten the knack of that.

 

[Felinepeachy]

Yup ARA gold is the best, hands down. Very honest people and great to deal with. They are the nicest folks.

http://www.aragold.com/contact-ara.html

 

[lookindown]

Thanks for posting the bad news, you didnt have to. I knew a few honest people were left in this world. I got tricked by a 4 gram earring and I was mad. I can only imagine how you felt. Good luck.