Question for CyberDan or anyone else

[creeper71]

I just sold a 14k soild braclet w/ no stones it was 5.2 penny/dwt or 8grams for 38 a dwt for a total of 197.60.. I don't mess with gold much ..only cause I don't find much.. anyways I thought that price was beyond fair value..what do you think

 

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[jerseyben]

Just sold 2.57 dwt for $194.64. This was with ARA a few days ago.

 

[creeper71]

Just sold 2.57 dwt for $194.64. This was with ARA a few days ago.

what Karat tho? it does make a big difference

 

[creeper71]

Next time you have gold to sell, go to this site (http://www.silverrecyclers.com/Calculators/gold_calculator.aspx) and key in the numbers to get an accurate dollar amount for spot. You then have the knowledge to see if your buyer is in the same ballpark. I think ARA or other refiners are best, I believe they will take just 2% of the spot total.

I already knew what it was worth before I walked in... but I do not know anything about dwt prices...

 

[thrillathahunt]

At todays spot gold price, your bracelet would be worth $231.22

 

[creeper71]

At todays spot gold price, your bracelet would be worth $231.22

thank you.. I already knew what it was worth..at time of being sold it was around 237.00

 

[Randyd]

Creeper,

You did OK, cash in hand quickly at a decent price. Besides 14K could have been only 13.5k, if anything was soldered on it, even less.

A pennyweight (dwt) is 1/20 of a troy oz. Gold dredgers use it.

Randyd

 

[jerseyben]

Considering my sale to ARA was essentially the same scenario, I am happy with it. My chain was also 14K and mine was 8.2 grams so very close to yours. I estimate that I sold it for about 83% of spot. To me, where would I possible be able to get that kind of return? If I sold on ebay, after fees it would be about the same and with more hassle. A local pawn shop or cash for gold place won't pay you anywhere near 83%. Like the others said, it is likely NOT purely 14K and if it had a steel clasp, that would reduce some of the weight.

 

[creeper71]

Just sold 2.57 dwt for $194.64. This was with ARA a few days ago.

I just notice your weight is off.. if it was 8.2 grams that would be.. 5.27dwt That would be 196.48 with spot being at 1539.96

so you roughly got about 37 per penny weight ... so I got 1.00 more per dwt

 

[jerseyben]

Just sold 2.57 dwt for $194.64. This was with ARA a few days ago.

I just notice your weight is off.. if it was 8.2 grams that would be.. 5.27dwt That would be 196.48 with spot being at 1539.96

so you roughly got about 37 per penny weight ... so I got 1.00 more per dwt

2.57 dwt of .999 gold after refining.

 

[creeper71]

Just sold 2.57 dwt for $194.64. This was with ARA a few days ago.

I just notice your weight is off.. if it was 8.2 grams that would be.. 5.27dwt That would be 196.48 with spot being at 1539.96

so you roughly got about 37 per penny weight ... so I got 1.00 more per dwt

2.57 dwt of .999 gold after refining.

that is not correct for the weight you gave for 8.2 grams after refining it would be .244 troy ounce I just converted that to penny weight an this is what it would be in pennyweight
.244 oz(troy) = 4.87999 dwt

I just redid the math an you got 1.88 more then me
194.64 /4.87999 = 39.88 per dwt

 

[Sheldon J]

News story on 60 minutes last week about the various gold buyers, how they rip people off, especially on old coins......

 

[cyberdan]

I have not been able to read the posts for a while. Looks like all covered it pretty well.

 

[creeper71]

News story on 60 minutes last week about the various gold buyers, how they rip people off, especially on old coins......

Yeah when I was calling around 2 places to me 21.00 a pennyweight another one was just over 100.00 on a percentage scale..they didn't say what percentage they was using

 

[jerseyben]

News story on 60 minutes last week about the various gold buyers, how they rip people off, especially on old coins......

Yeah when I was calling around 2 places to me 21.00 a pennyweight another one was just over 100.00 on a percentage scale..they didn't say what percentage they was using

Thats around 13.50 per gram for gold! This is why I will use ARA even if the total weight seemed a bit off. At least they paid me $75.75 per dwt.

 

[creeper71]

News story on 60 minutes last week about the various gold buyers, how they rip people off, especially on old coins......

Yeah when I was calling around 2 places to me 21.00 a pennyweight another one was just over 100.00 on a percentage scale..they didn't say what percentage they was using

Thats around 13.50 per gram for gold! This is why I will use ARA even if the total weight seemed a bit off. At least they paid me $75.75 per dwt.

please explain to me how your getting 75.75 per dwt weight... I'm alil confused cause if your was 8.2 grams like you said before it should have been 396.93