most stone in jewelry that is going to be scraped are garbage anyway, or dammaged after years of use etc.
Some Refineries, Like mine, after disolving the gold away from the stones just dump them though a sifter. Anything larger than 2pts is saved. the rest just gets melted and processed and burned off with the silver chlorides and ends up in the flux...basicly worth less in the first place.
The times that true gems do come in. Of course save them. And sell them off on Ebay or to a custom gold smith/jeweler.
Dont expect to get much, Just take what people offer and be glad for it Is my advise. They have kids in India Chained to Benches pumping out new stuff for less than 20 cents a piece all day long. And it keeps comming, and will never stop.
If you have a lot of stones and they are larger, and there is a local community college or high schools with jewelry making programs. Put em in a tackle box with prices of a couple bucks a piece, and collect at the end of the semester. You can make some seriouse side bank selling off what otherwise would never sell as ART. a couple bucks a piece adds up quick, and students learning how to set stones break them frequently.
And its a valuble service for students who otherwise have no connections for such things.
Over 95% of the Cut stones out there are lose. And will never be set. And a good chunk after scrapping hits the secondary market.
And on a side note. Dealing with midwest is a Rip. The assays seem to always come in low. And it seems the people on this site that pimp for them probably work for them. The two assays I have seen for scrap seem rather low. yet the same couple people keeps pushing them...hmm, coincidence?
I buy at 98% and charge no refining fees. And can turn junk gold into coins. Yes we have mint.
www.moonlightmint.com
Often I turn peopels gold junk into saleable Bullion that they can hang on to, and or sell for a premium down the raod. No one else does this. They simply trade out for what they may have.