Folks, Converting jewelry finds to silver rounds......

[bill from lachine]

Folks,

Don't find a big load of jewelry being a land detectorist but have a fair amount of gold and silver jewelry I've found over the years....quite a few people have offered to buy my undamaged silver and gold items......since I don't really wear much jewelry I'm thinking of selling some of my finds at 2 to 3 times melt and buying 1 ounce silver rounds with the proceeds.

What's your views??

Regards + HH


Bill

 

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[TNGUNS]

How do you get that much above melt. Value of stones etc.? Guess it is obvious I know little about jewelry.

 

[bill from lachine]

TNGuns,

I've checked with jewelry stores for retail value of some of my rings, etc....I've got a stamped 750 ring which is 18k with scrap value of about $300/$400 range and the owner told me he'd have to pay about $900 wholesale for that ring so we're looking at $2000 or so retail.....if someone is prepared to pay say $600 I''m prepared to let it go.

Regards + HH

Bill

How do you get that much above melt. Value of stones etc.? Guess it is obvious I know little about jewelry.

 

[TNGUNS]

bill.....thanks for the info. I had no idea that its value as jewelry was that far above its melt value.

 

[NOLA_Ken]

I'd say go for it, the problem though is if silver tanks, you'll lose money on the investment whereas the jewelry will still be worth jewelry price.

 

[Jason in Enid]

Good luck. If you can sell for above scrap then I say sell it fast!

 

[Muddyhandz]

Bill, about 5 years ago I used to sell at a flea market and would only ask a bit beyond melt value on my gold and silver jewelry. I also had antiques, books, dug coins, etc.
It was a struggle to get a few dollars beyond melt and that was when precious metals were a lot lower. People were just too cheap. A jeweler will never pay beyond melt value.
Now, I just scrap any modern jewelry unless there's something special about it.
With your big ticket gold rings, you would have to get them appraised and then run classified ads. Be prepared to deal with all kinds of people!
Silver rounds are expensive to buy. I would take all your not so hot silver jewelry and get them melted into your own sterling bars.
With jewelry, I always calculate the desirability v.s. time it takes to peddle it off. The answer most of time is scrap value.
Good luck bud.
Dave.