Treasure Classifieds Forum

Congrats on your first ring and on the medallion 10K precious metal! Nice hunting and hope you continue finding those sweeties.

I finally got by some place to have the jewelry tested. I've been carrying it around with that intention since I found it.

Turns out the ring is just costume, like I thought, but the necklace is 12K.

 Lady at the "We Buy Gold" place tested it and offered me $120 for it. Told her that the wife had a claim on it if it was real.
 
   This is my first piece of gold and even though I had no intention of selling it, I thought that price was a bit low. It is 8.9 pennyweight and 12 Karat. I looked on the Gold / Silver Calculator app, put in these figures and it seems she was offering me 44%. I just stopped in to this one because it was right next to somewhere I already had to go on my way home.

Should I call / look around for other places to see who is offering better percentages, in case I do find something I would be willing to part with ?

(04-15-2016 04:47 PM)Groundhog Wrote: [ -> ]I finally got by some place to have the jewelry tested. I've been carrying it around with that intention since I found it.

Turns out the ring is just costume, like I thought, but the necklace is 12K.

 Lady at the "We Buy Gold" place tested it and offered me $120 for it. Told her that the wife had a claim on it if it was real.
 
   This is my first piece of gold and even though I had no intention of selling it, I thought that price was a bit low. It is 8.9 pennyweight and 12 Karat. I looked on the Gold / Silver Calculator app, put in these figures and it seems she was offering me 44%. I just stopped in to this one because it was right next to somewhere I already had to go on my way home.

Should I call / look around for other places to see who is offering better percentages, in case I do find something I would be willing to part with ?

GH, unless one absolutely is in need of quick $$$, cash for gold stores, and pawn shops, too, should be avoided like the plague. They make their INSANE profit on the spread of buying cheap & then selling high. For the best gold prices, you need to deal direct with the refinery. There are many good ones out there, but I've used Midwest Refinery over the years, and swear by them.

The refineries will give you roughly 97% of current spot price, depending upon which refinery you choose. Cash for gold stores and pawn shops will typically give you 50% to 60% of spot price...if you're lucky.

Just food for though, as I hate seeing anyone get taken for a ride.

But I don't think it matters, as I doubt you'll ever get it back from the missus now!

Joe

Sweet! WTG

Thanks Joe,  I've seen other posts about the percentages that the refineries give, but I haven't had a need to use that information 'till now. I will keep this in mind for when I get a chest full and just have to get rid of it because I'm out of room.

And you are right, I'm not getting it back from my sweetie. It looks good on her.