Sell...or keep rings

brian11 · Apr 23, 2012

I am wondering what others do with your valuable finds. Do you sell the gold and and platinum rings that you find, or keep them? I have been detecting for about 4 years, and have never sold anything. About a year ago, I went to a couple of places to see what I could get for the rings. I was hearing about $250 - $350 for a gold ring, and about $400 for the one platinum ring I have. I did not sell any. I have kept them with coins and other good finds as "trophys". Now I'm thinking of selling. I am curious....what is the general concensus out there? Do you keep your rings or sell them?

Okie115 · Apr 23, 2012

I would say if you need the money to buy a new toy sell. If not gold is still on the rise just hold off until you need it.

TheOldMan · Apr 23, 2012

+++++

bigscoop · Apr 23, 2012

If you decide to sell........"DON'T SELL LOCALLY!".....instead, do as Old Man says, knock out any valuable stones and ship them to a refinery. I use Midwest out of Michigan. Last i heard they were still paying 95% of melt value of spot on the day they get it. They have always treated me pretty fairly and the turnaround is usually about a week.

dustytrails123 · Apr 23, 2012

First off dont stop at the local jewelery shop they will give you a fraction of the price..... just scale it and list it on ebay and it will be gone the last platinum my brother sold was a womens and was pretty small but had almost a 700 dollar scrap value .... myself i only keep the silver since the price isnt that great

U.K. Brian · Apr 24, 2012

I keep selling when gold is up and hoard when its down. By missing out the middlemen in the high street you can more than double what your paid. I don't really see the point of keeping wedding bands or damaged gold unless you think prices are going to collapse in the future. I remenber gold stayed low for years and years. I could have had the money invested earning some interest and as Oakie says putting the money back into the hobby in the form of a better detector could really pay off especially if there's lots of competition on your beaches (I had nine on my nearest beach yesterday by eight in the morning).

s.c.shooter · Apr 28, 2012

So far I've kept mine but now I'm considering selling a few to buy another detector!

Keppy · Apr 28, 2012

I never keep any thing i sell every thing ...I don't need trophy's.... and i am not a collector of any thing..... I don't wait for things to go up or down i just sell..... And move on to the next find........

Papa Bear · Apr 28, 2012

Many points of view. All of them valid.

bigscoop · Apr 30, 2012

I treat my rings as my mad money. If I want a new detector, etc., I send in some rings to pay for it. Sort of like a special event or special purchase account. :laughing7:

ridgecrawler · Apr 30, 2012

Hello Brian, keep them if you can, if you do decide to sell them stay away from pawn shops, jewellers, and the cash for gold stores. Google ARAgold,they pay 98% of the gold value and will return your stones. They pay 90% on silver. I have sent silver to them several times and was treated fairly.

Sandman · Apr 30, 2012

I've kept and sold gold for years, but some special rings you remember and once they're sold, they're gone. Never sell to a jewelry store or cash for gold place as you will get pennies on the dollar. I sell my scrap gold to ARA though Midwest is couple miles from me. ARA pays 98% and returns stones. American Recycling ? Dallas, Texas :thumbsup:

treasure4pleasure · May 3, 2012

I think I will sell mine unless they fit

whenever I find some that is. lol Gosh I can't imagine keeping everything if you had a lot. It'd be like an episode of Hoarders , only the metal detecting version. lol :laughing9: