If you wanted to, how do you sell things you find?

[netrate]

Out of curiosity, when I see people finding gold / silver rings, I always think that they might have some money on their hands - but more often I find they hold onto it - at roughly $1200 per ounce (gold), wouldn't it make sense to smelt or find someone that would buy that gold ring(s) from the person? It would definitely make the hobby lucrative (even if you don't do it for the money). Using one of the calculators on google, I found that most 14K gold rings have about 5gram of gold in them - so that is still about $100 bucks or more with gold rings. Doesn't take much to suddenly have enough to buy equipment and supplies. Is it because there are not many places to sell things like that?

 

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[kingskid1611]

Some keep them for selling later in case gold goes up. Most clean them up and sell at pawn or jewelry stores.

 

[netrate]

I am guessing that the pawn shop won't give you the best price anyway, so probably 1/2 or 3/4 of what it is worth. Maybe a place that smelts in the area?

 

[GA_Boy]

Weigh it, determine the value, and decide if you can make a profit over the melt value. Then either keep it and add to the melt bound items or try to sell at Yard Sale or Flea Market. Never know, it may strike someones fancy and they purchase the item for you a nice profit.
Remember, you can always come down on the item but very seldom can you go up.
At a flea Market one time I priced an item and a Guy almost bought it (I could tell he wanted but he tried too hard to dicker with me.). An hour or so later he came back and I had raised the price by $10.00 and refused to entertain a lesser offer. He bought it at the elevated price. That seldom happens.
Marvin

 

[ToddB64]

Hi netrate !

For selling jewelry finds, like gold, silver, etc., try the following sources.

Midwest Refineries
4471 Forest Ave,
Waterford, MI 48328 · ~264 mi
(800) 356-2955


American Recycling Associates
1050 Metromedia Place
Dallas, TX 75247E-mail:
(800)-216-9796

ToddB64