Facebook SCORE!

[gatordog7]

While checking out some garage sale and personal items for sale this morning I saw an ad for a gold ring for sale. Only a pic of the ring and a $65 asking price. I messaged the seller and asked if he knew the weight of it and any other info? All he said was it was 18k gold and old with a Mercedes Benz logo on the face. He lived about 35 miles from me and I asked him if he could meet me halfway and that I wanted the ring. He said he couldnt make the drive so I told him that I would drive to him but if I did I would only pay $50 for the ring. He said ok. So I loaded the wife up and left to meet him. 40 minutes later we met at local school and he showed me the ring and I gave him the agreed $50. Once I saw and felt the ring I knew I was gonna be ok with my purchase, I just didn't know at the time how ok. Once home I verified the 18k stamp and weighed the ring. It weighed 13.7grams and was in good shape and obviously pretty old with an art deco design that I felt was from the 1940's. I then went to an online scrap gold estimater and put in the weight and karat grade. The scrap gold price came in at $399.10!! Not bad for a $50 investment. I asked the young kid what he knew about it and he said that when his grandparents died he cleaned out their house and that the ring was in a drawer. He thought about keeping it but needed the money and didnt know where to try and sell it. I almost felt bad later when I found out the scrap price but have found a couple similar rings on the net that were selling for $800 plus. If not me someone else would have snatched it up. Today was a good treasure day!!

 

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[Cal_Cobra]

Nice find, but why beat the kid down $15 when it's already a windfall

 

[against the wind]

That's one heck of a profit.
Congrats

 

[treasuresalvor]

Nice score.

 

[Xraywolf]

Still might not be 18k, you do know misstamped scam rings are not exactly rare, right ?

http://www.treasurenet.com/forums/coins-paper-currencies/493218-f-s-18-k-gold-ring-scrap.html

May or may not be the case, you don't know until it is tested. If it is plated you spent about $47 too much.

 

[gatordog7]

Nice find, but why beat the kid down $15 when it's already a windfall

Well at the time had no idea of weight and I was the one driving 35 miles to meet. Deal was made before I ever left so I felt $50 offer was safe enough. Had I talked him down after seeing it then I feel that would have been a different case. Will take for acid test later next week. If I wind up getting popped then learning experience for me.

 

[Xraywolf]

No prob you talking him down, he could have said no - And obviously should have, if this is solid 18k.

Really wouldn't get my hopes up, just about everyone knows about online gold calculators, seems beyond odd unless he is mentally impaired that someone would sell gold so cheap when they could have taken it to any pawn shop or coin shop if it was legit and got 5x what he got from you.

 

[Trezurehunter]

Very nice.

 

[doninbrewster]

Nice find, but why beat the kid down $15 when it's already a windfall

A number of years ago I went into a coin shop and spotted an uncirculated 1723 Rosa Americana penny. It was marked as "copy" and priced at $15. I offered $12 and bought it. It wasn't a copy. I knew it immediately. If the guy is professing to be a coin dealer he should know if a coin is real or not. This guy could have easily checked online to figure a ballpark value.

 

[Professor of Engineering]

Nice ring score!

 

[trapperart]

Congrats

 

[jp4077]

Congratulations on the great score.

 

[Rodbuster209]

No prob you talking him down, he could have said no - And obviously should have, if this is solid 18k.

Really wouldn't get my hopes up, just about everyone knows about online gold calculators, seems beyond odd unless he is mentally impaired that someone would sell gold so cheap when they could have taken it to any pawn shop or coin shop if it was legit and got 5x what he got from you.

Or if it was not his to be selling.

 

[BigWaveDave]

No prob you talking him down, he could have said no - And obviously should have, if this is solid 18k.

Really wouldn't get my hopes up, just about everyone knows about online gold calculators, seems beyond odd unless he is mentally impaired that someone would sell gold so cheap when they could have taken it to any pawn shop or coin shop if it was legit and got 5x what he got from you.

You're a piece of work.

 

[Cal_Cobra]

A number of years ago I went into a coin shop and spotted an uncirculated 1723 Rosa Americana penny. It was marked as "copy" and priced at $15. I offered $12 and bought it. It wasn't a copy. I knew it immediately. If the guy is professing to be a coin dealer he should know if a coin is real or not. This guy could have easily checked online to figure a ballpark value.

Big difference, one is supposed to be an expert that makes his living by knowing the facts and values of the trade, the other was a kid.

Doesn't matter to me either way, I just wouldn't be gloating over getting one over on a kid.

No worries, hope it works out for you.

 

[dsdigger]

Congrats on the score!

 

[gatordog7]

Got back home today from OOT trip. Hope to take ring by coin shop in next day or so to get tested. I will share the results either way. If it winds up that I made an error in judgement then ill learn from it and move on.

My intent was not to gloat but I was very excited about the find as most any other treasure seeker would be. Deals like this dont come along everyday much like locating a special find. Our passion for this hobby covers a whole bunch of topics. Everyday I read where someone scored a resale shop, coinstar find or dug a personal treasure. Like everyone else I just wanted to share my win. Hope to have a few more of my own and continue celebrating with others. I do appreciate the comments and value most of the words of wisdom as we can all learn from each other.

 

[gatordog7]

Took the ring by Rick Davis gold & jewerly this afternoon. He has over 30 yrs experience dealing in diamonds and precious metals. Rick put his loop to the ring and after 2 thorough scans, wasn't sure just what he had. He said the 18k stamp looked rough which would have been consistent with a ring of that age. It took 2 acid tests before he proclaimed it the best fake he had ever seen. An impeccable job of gold filling. He asked me what I paid for it and I told him $50. He said there was no way anyone wouldn't have taken a chance on it with the appearance and feel it had. He asked me what I was going to do with it and I told him I wasnt sure but obviously wouldn't make any attempt to deceive anyone. He said that it is still a good solid ring that will hold its look and color for a good 20 yrs. He said it was probably worth around $50 to someone that had a Mercedes and was looking for some low cost bling. Obviously a little disappointed but did feel better with his professional opinion. Question now was, do I contact the kid I got it from? No. I made the decision to buy the ring and its very possible the kid knew no different either. I will however be watching the facebook for sale ads and if I see him trying to sell another piece then I may contact him. Was a good feeling and def a rush that is tempered now. I'll still keep my eyes open for opportunities and will try and use the best judgement I can for the next time.

Need to change the post title to Facebook "Almost" Score!

 

[Xraywolf]

You're a piece of work.

A rather prophetic one, you'd have to agree.

 

[Xraywolf]

The old adage "If it seems to good to be true, then it probably is" applies here.
Very, very few people of sound mind are going to sell a legit gold ring for pennies on the dollar.

For every great deal someone stumbles across there are no doubt 100's that go the opposite way, especially with something as well known and easy to sell like gold.
Hallmark stamping kits can be bought cheaply on amazon/ebay - Buyer beware.

I have found a couple of rings that were legit stamped but turned out to be junk - I crushed them with an arbor press and threw them in the trash where they belong.