For any rings you found at the beach, how much were they worth?

[OBXmetalDet]

Did you get them appraised at a jewelry store? How much were they worth?

 

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[pepperj]

Did you get them appraised at a jewelry store? How much were they worth?

$64 question.
Gold content
Diamond vs Zirconia
Glass vs Gemstone
Resale vs scrap.
It's a very wide topic, and many variables to the question.

 

[OBXmetalDet]

$64 question.
Gold content
Diamond vs Zirconia
Glass vs Gemstone
Resale vs scrap.
It's a very wide topic, and many variables to the question.

Yes but I was hoping for people to throw out personal examples from what they have found.

 

[Treasure_Hunter]

Mostly only worth the value of the gold, most diamond rings are not worth a lot once sold unless they are a nice solitare.

 

[Zincoln Miner]

I found a very nice gold & diamond wedding band at a fresh water beach. Took to a jeweler who gave an estimate of $700 (I did not pay him, but gave his opinion). A woman customer in the store contacted me outside, and offered me $700 for it. Nice!

Your best bet for scrap is use Midwest Refineries, and keep any precious stone for your collection.

 

[OBXmetalDet]

I found a very nice gold & diamond wedding band at a fresh water beach. Took to a jeweler who gave an estimate of $700 (I did not pay him, but gave his opinion). A woman customer in the store contacted me outside, and offered me $700 for it. Nice!

Your best bet for scrap is use Midwest Refineries, and keep any precious stone for your collection.

Thank you for your reply. I'm surprised they only offered $700 for that. I know they have to make a profit but I would have expected more.

 

[Treasure_Hunter]

Thank you for your reply. I'm surprised they only offered $700 for that. I know they have to make a profit but I would have expected more.

There is a tremendous markup on diamond rings, you lose about 50% of the buy price once you walk out the door of the jewelry store on most common diamond rings depending on the cut, clarity, color and carot size of the stone.

 

[OBXmetalDet]

There is a tremendous markup on diamond rings, you lose about 50% of the buy price once you walk out the door of the jewelry store on most common diamond rings depending on the cut, clarity, color and carot size of the stone.

Wow. I didn't know that.

 

[OBXmetalDet]

Let's say somebody paid $2,000 for a gold ring and lost it at the beach. If you found that ring how much might a jewelry shop offer you for it?

How much might they sell it for?

 

[Treasure_Hunter]

Let's say somebody paid $2,000 for a gold ring and lost it at the beach. If you found that ring how much might a jewelry shop offer you for it?

How much might they sell it for?

Jewelry stores are in the business of selling new jewelry not buying used, you would be lucky to get 25% of original price if you are lucky, maybe a little more if it is designer jewelry brand like Tiffany's or Cartier....

People go to pawn shops to sell and they still pay low, most of the value is in the gold unless like I said earlier it is a high quality large solitare. A $2000 gold ring no stones is worth only the weight of the gold, and they do not pay the full value of the gold.

 

[OBXmetalDet]

Jewelry stores are in the business of selling new jewelry not buying used, you would be lucky to get 25% of original price if you are lucky, maybe a little more if it is designer jewelry brand like Tiffany's or Cartier....

People go to pawn shops to sell and they still pay low, most of the value is in the gold unless like I said earlier it is a high quality large solitare. A $2000 gold ring no stones is worth only the weight of the gold, and they do not pay the full value of the gold.

Thank you.

 

[opalboy]

We have a store and I’m a buyer, most rings and things I buy end up being sold for scrap, about 1/6 of original retail price, this gives us a good ”estate”section, and when I sell, my scrap buyer says he pays 98% of spot, but in real life he pays 85 - 90%. The diamond buyers are really cheap! So this ends up reflecting in what I will pay for stuff. Bullion I pay 95% to spot depending on the market.

 

[Gare]

I found a very nice gold & diamond wedding band at a fresh water beach. Took to a jeweler who gave an estimate of $700 (I did not pay him, but gave his opinion). A woman customer in the store contacted me outside, and offered me $700 for it. Nice!

Your best bet for scrap is use Midwest Refineries, and keep any precious stone for your collection.

Did you sell it ?

 

[OBXmetalDet]

Mostly only worth the value of the gold, most diamond rings are not worth a lot once sold unless they are a nice solitare.

If I found a solitaire diamond ring I can't send that in to a smelter since there is a diamond with the ring.

How would I get money for the diamond? How about the ring portion?

 

[Treasure_Hunter]

If I found a solitaire diamond ring I can't send that in to a smelter since there is a diamond with the ring.

How would I get money for the diamond? How about the ring portion?

You remove the stones before sending them in to refineries, although some will return them to you.

On a $2000 ring found at the beach the value is in the gold and how much gold there is, there is next to no resale value in the stones.

Gold content
10k = 41.7% gold
12k = 50% gold
14k = 58.3% gold,
18k = 75% gold.
22k = 91.67% gold
24k = 99.9% gold

There are gold calculators on line you can use to get gold value, multiply the weight of the ring times k value based on spot price of gold.

Here is link to one.

Scrap Gold Calculator (Live Gold Price) - GoldCalc.com

Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.

www.goldcalc.com

Most refineries will not deal with a single ring, not worth the trouble so save and cash in multiple rings at same time, the different Karots want matter, they will melt them down together, then test the k of them melted down and pay a percentage of that. I want except less than 90% of gold value so ask what they are paying before you have it melted.

 

[OBXmetalDet]

You remove the stones before sending them in to refineries, although some will return them to you.

On a $2000 ring found at the beach the value is in the gold and how much gold there is, there is next to no resale value in the stones.

Gold content
10k = 41.7% gold
12k = 50% gold
14k = 58.3% gold,
18k = 75% gold.
22k = 91.67% gold
24k = 99.9% gold

There are gold calculators on line you can use to get gold value, multiply the weight of the ring times k value based on spot price of gold.

Here is link to one.

Scrap Gold Calculator (Live Gold Price) - GoldCalc.com

Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.

www.goldcalc.com

Most refineries will not deal with a single ring, not worth the trouble so save and cash in multiple rings at same time, the different Karots want matter, they will melt them down together, then test the k of them melted down and pay a percentage of that. I want except less than 90% of gold value so ask what they are paying before you have it melted.

Your post was very helpful.

Next to no resale value for the stones? Even for a diamond? But that has value.

 

[Treasure_Hunter]

Your post was very helpful.

Next to no resale value for the stones? Even for a diamond? But that has value.

Diamonds have lots of value till you buy them and leave the store, then for majority of diamond rings the diamonds value plunge, a $25,000 Tiffany's or Cartier diamond ring will have value, a $2,000 diamond ring not so much. You lose 50% of the value as soon as it leaves the store, add normal wear if worn ever day and loses more.

The gold is the actual resale value in a $2000 diamond ring.

 

[Zincoln Miner]

Thank you for your reply. I'm surprised they only offered $700 for that. I know they have to make a profit but I would have expected more.

It was not an offer. I just asked for an on the spot opinion. I doubt he would have paid me that price (unless it was much more valuable than he said).

I just got lucky.

Did you sell it ?

Yes. To the woman that was a customer in the store, but she bought it outside.

 

[OBXmetalDet]

You remove the stones before sending them in to refineries, although some will return them to you.

On a $2000 ring found at the beach the value is in the gold and how much gold there is, there is next to no resale value in the stones.

Gold content
10k = 41.7% gold
12k = 50% gold
14k = 58.3% gold,
18k = 75% gold.
22k = 91.67% gold
24k = 99.9% gold

There are gold calculators on line you can use to get gold value, multiply the weight of the ring times k value based on spot price of gold.

Here is link to one.

Scrap Gold Calculator (Live Gold Price) - GoldCalc.com

Gold calculator integrated with the live gold price to calculate an accurate value before buying or selling. Features include tips on selling, gram scale options, and links to credible resources.

www.goldcalc.com

Most refineries will not deal with a single ring, not worth the trouble so save and cash in multiple rings at same time, the different Karots want matter, they will melt them down together, then test the k of them melted down and pay a percentage of that. I want except less than 90% of gold value so ask what they are paying before you have it melted.

So if I found a 14k gold ring weighing 4 oz, assuming the smelter wuld pay 90% of the spot price which is now $1,957 this means I could get $4,086 (1957 x .90 x 4 x .58).

Are these calculations correct?

 

[Treasure_Hunter]

So if I found a 14k gold ring weighing 4 oz, assuming the smelter wuld pay 90% of the spot price which is now $1,957 this means I could get $4,086 (1957 x .90 x 4 x .58).

Are these calculations correct?

Yes that is pretty close, now the only problem is finding a 4 oz gold ring.