Whole day = $682.50

[randazzo1]

Spent the entire day (starting at 6:30 am) searching for stuff to sell. I hit 9 estate sales and 6 thrifts. Mostly focused on jewelry / PM’s.

Wrapped up at about a quarter to 4 and was totally whiped out.

19.3 grams 14k (mostly from a lady elgin 14k case and a very heavy 14k pearl and sapphire bar pin and a thin 14k white gold watch chain).
1.2 grams 10k
277 grams sterling scrap (mostly from a ten inch wallace sterling dish from thrift)

Hoping to get at least $550 on the scrap

Then I think I’ll do $205 on the sellable jewelry less ebay/paypal and packing is $164

Then i got two whole sets of oneida community i hope to do $70 each on (at least) so again $140 less fees is $118

So $830 total for my net. Then at least $20 in gas, and 126 miles at fifty cents a mile is another $63. That leaves me with $767.00. I spent 84.50 on everything, so I’m down to $682.50.

Happy w the result - but couldn’t do that every saturday.

 

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[randazzo1]

Anyone on here actually do this as a sole source of income? And I mean actually running around picking. I’m involved with a jewelry business but I don’t go out and find the product like this.

 

[trdhrdr007]

I 'm semi-retired and live on what I make picking. Generally put in 40-60 hours a month and make enough to pay the bills & buy beer. I don't make near the money I did when I was a plumbing contractor but my knees/back thank me for it every day.

 

[Kentuckiana Jones]

Isn't this about all that Beachkid does? It's my eventual goal. Not sure if I will ever get there.

 

[JimDon]

Nice haul. I love when a long day of effort pays off. I only hit one EstateSale this weekend I got 2ozt in scrap sterling jewelry for $1.

 

[mreese1849]

So where do you guys sell your scrap? I'm new to this. Do you have a certain pawn shop you trust or some other source?

 

[trdhrdr007]

If you want to get the most for your gold/silver you need a relationship with a refiner or large dealer. If you live in a big enough city there will be at least one place that pays within a few percent of spot. The hard part is figuring out which place & establishing a relationship because they pay more to frequent sellers. Most pawn shops pay between 30-50% in my area.

 

[SDIceMan]

So where do you guys sell your scrap? I'm new to this. Do you have a certain pawn shop you trust or some other source?

I am not affiliated with them in any way, but I have been pleased with the process of selling my scrap to Midwest Refineries. I believe it was a post by Beachkid that first made me aware of them. I just ship them my scrap and get a check in the mail within a few days.

 

[basssmann]

Make sure you shop around.... huge difference in what people will pay you... I'm in NY and send my Gold and Silver (that I buy) to Florida...

Arnold's Jeweler's , in Largo Florida.... they pay the best.. will contact you with a price and send a check... Check them out on line... they even have their prices on line daily, what they pay for silver and gold and silver coins...

 

[randazzo1]

We use NTR in texas and a small operation right here on 47th st. Depends on the item.

 

[randazzo1]

NTR does 98 on gold and 90 in sterling and up 80 on lesser silver and gold filled. But no value added for wearable pieces add they are horrible on diamonds.

 

[Professor of Engineering]

Very nice part time business!

 

[against the wind]

Sounds like there's a lot of running around in the scrap trade. If you go to estate sales, what kind of competition are you up against?

 

[Drmad7]

Sounds like there's a lot of running around in the scrap trade. If you go to estate sales, what kind of competition are you up against?

Little old ladies who will seriously run you over! And other pickers.

 

[WaterScoop]

Nice work!

 

[smokeythecat]

In the old days, I would have been classified as one of those pickers, these days I just go out and dig in the dirt.

 

[tamrock]

I am not affiliated with them in any way, but I have been pleased with the process of selling my scrap to Midwest Refineries. I believe it was a post by Beachkid that first made me aware of them. I just ship them my scrap and get a check in the mail within a few days.

I only sell to those who pay in cash or trade with no questions asked.

 

[SDIceMan]

I only sell to those who pay in cash or trade with no questions asked.

I can understand that. I would actually prefer to do things your way, because I hate having to pay shipping and insurance charges to mail scrap. I’ll make a point to pop into a few of these ‘We Buy Gold’ places in my area and see what kind of percentage they’re offering on silver.

 

[trdhrdr007]

I can understand that. I would actually prefer to do things your way, because I hate having to pay shipping and insurance charges to mail scrap. I’ll make a point to pop into a few of these ‘We Buy Gold’ places in my area and see what kind of percentage they’re offering on silver.

If you are shipping through USPS & buying insurance for precious metals you are wasting money. There are a bunch of regulations that apply when sending jewelry, sterling, and/or coins. Even if you comply with the regulations you have to be able to establish value through receipts or appraisals. As long as I'm posting, I'll also say I'm not a fan of Midwest either. Not going to get into reasons why other than to say I dealt with them in the past & there are much better alternatives.

 

[SDIceMan]

If you are shipping through USPS & buying insurance for precious metals you are wasting money. There are a bunch of regulations that apply when sending jewelry, sterling, and/or coins. Even if you comply with the regulations you have to be able to establish value through receipts or appraisals. As long as I'm posting, I'll also say I'm not a fan of Midwest either. Not going to get into reasons why other than to say I dealt with them in the past & there are much better alternatives.

Thank you for the info. I was unaware that there was a burden of proof on my part when insuring precious metals. I naively assumed that if the package were lost by USPS, I’d simply get the insured value reimbursed. I’ll look into what you said before sending any more packages to the refiner. I appreciate it.