14K 8" bracelet

[rmbutcher4]

Just comparing some prices I already got from some local jewelry stores and wanted to see what someone NOT trying to rip me off thinks.
Weighs 12.5 pennyweight, .625 troy oz., 19.44 grams. Thanks for looking and any comments.

 

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[plymouthian12]

about $440 in scrap from the guy i go to

 

[rmbutcher4]

I have been offered $200, $250, $330 and $350. Matbe I need to make a trip to Mass. Thank you.

 

[BeachComber7]

wow that's really nice!

 

[Catobra]

Good Luck, RM-I have been thinking of getting rid of all of my broken etc. gold, but am worried about getting ripped off by some fly-by-night outfit (there are only about 1,372 "cash for gold" places per square mile here, would be nice to be able to trust one without visiting them all!)

If you find one, please let us know. Or if anyone else has any tips on who to trust.

 

[plymouthian12]

welcome

 

[pirataborracho]

Yeah I would not go to any of those cash for gold place, try pawn shops or jewelry stores. I'm not sure where else to scrap gold and silver. I would like to know if there is a better option as well.

 

[NYwaterhunter]

Butcher,
#1) Determin the exact value of gold - Look it up on Kitco.com spot gold US ( $1,603 / US OZ.) Remember this changes constantly.
#2) Weigh your item ( Your Bracelet weighs 12.5 DWT)
#3) Convert the price of gold from US oz to DWT. There are 20 DWT in 1 oz. Therefore $1,603 divided by 20 = $80.15 / dwt
This is the value of pure 100% gold (24 K)
#4) Since your item is 14 K You have 58 % Gold
#5) 58% of $80.15 DWT = $46.48. 14 K gold is worth $46.48 per Pennyweight.
#6) Your 12.5 DWT 14 K braclet is worth = 12.5 DWT X $46.48 = $581.oo This is full scrap value. Pawn shops will not give you this!
#7) Now that you know the true scrap value of your item, you can shop the pawn shops for best price. Since you know that 14 K gold is worth per penny weight $46.48 dwt, ask several shops what the pay out is for 1 pennyweight of 14 K gold. You will be amazed at all the differences between pawn shops. REMEMBER: You will never get the full $46.48 dwt. This is how the Pawn shops make the bucks!

If you can sell your Braclet outright, You will get much more than scrap value since when a person goes to by the same braclet in a jewlery store, it will be as much as triple the scrap price.
Good luck, Shop around!
Gary G.

 

[harryb007]

http://gold-quote.net/widgets/gold-p.frice-estimator/
Try this for gold value

 

[Jeff Harris]

Dendetrics.com is a free precious metals calculator site. If you live in a good sized city you should have several barbershops run by Russians that buy gold. Find out what they are paying per gram for 14k, they pay cash.

 

[plymouthian12]

My guy is paying 34.77 per dwt today at 1608 per oz

 

[capt-zero]

Yes, doing phone research pays off. Where I live most reputable places pay about 80% of melt weight for gold, but by calling around I found a place that pays 90%. A big difference if you have any larger amount. Also, if you go to the same place frequently, sometimes they will give you a better rate.

 

[leprechaun]

Awesome find.

 

[NYwaterhunter]

It's too bad that there isn't some kind of a law in effect that would mandate all pawn shops to have to advertise what they are paying "In terms of DWT, OZ, etc " - for all metals.
Instead of "We pay full price" and other catch phrases.
I'm sick of hearing all the stories of people getting ripped off!
Especially older folks that don't understand the pawn shop system.

 

[rmbutcher4]

Thanks for all the information everyone. I ended up put it on Ebay and sold it for $562 after listing it twice. I feel that was a fair price for something that cost me nothing.

 

[Catobra]

Thanks for all the information everyone. I ended up put it on Ebay and sold it for $562 after listing it twice. I feel that was a fair price for something that cost me nothing.

Way to go!!

 

[plymouthian12]

awesome