Cash for Gold

[kknudson]

Need some opinnions / ideas.

We all see the constant pounding of the various Cash for Gold places, and they are popping up in storefronts here faster than weeds.

I know they are a (comment withheld, fill in your own).

But I have a few pieces of gold that I would like to get rid of.

Not a lot, just a couple of old rings, some odds and ends and a chain or two (where I got these I don't know as I don't wear jewelry).

So any suggestions where I should take them and get at least the best value ??

[JimFreeh]

My wife used to be a goldsmith many years ago.
Here's what I remember...

Don't get too optimistic on what you'll get for scrap gold.

Fourteen carat gold is only 57% pure, and once alloyed, it generally requires a re-refinement before it is resold.

Add in a couple of layers of middlemen profit taking....

Shop around, spot price can vary quite a bit.

Jim

[okyoureabeast]

I had a bit of gold that I brought to a local mom and pop jewelry store in Erie (Dampsy and Baxter.)

They paid a bit more out for these stupid rings I had then the cash4gold.com crap.

I would check your local yellow pages for family owned stores instead of dealing with those stupid TV commercials.

[JohnM.]

Go to a coin store! Cash4Gold pays you literally 5-10% of what they should be.

[dannym]

When all the world currencies go in the crapper you'll wish you kept that gold.

[jt20]

When all the world currencies go in the crapper....

who will you sell that gold to???

or will you make little figurines out of it and sell them on the street?

or perhaps the semi-conductor industry will boom when the world currencies fail?

[MTI]

When all the currencies go in the crapper . . . you'll be better off knowing how to raise your own food and defend your property from all the "have nots." Now, I have some remote and easily secured real property in Idaho and Montana that I'd like to talk to you about . . .

[tbomachines]

A local news channel did a comparo on cash for gold (and those other places that advertise on TV) and local pawn shops/jewelry places. The cash for gold places offered $200 where the sample ring they were using for all the places fetched over $1200 at some pawn shops. I say those places are a scam.

[kknudson]

Originally Posted by JimFreeh

Don't get too optimistic on what you'll get for scrap gold.


Jim

Not really expecting a lot, hoping, but not expecting.
But better than sitting in the safe doing nothing.

Originally Posted by tbomachines

A local news channel did a comparo on cash for gold (and those other places that advertise on TV) and local pawn shops/jewelry places. The cash for gold places offered $200 where the sample ring they were using for all the places fetched over $1200 at some pawn shops. I say those places are a scam.

Your word not mine

But thats the kind of idea I was looking for

[cmac2012]

Originally Posted by okyoureabeast

I had a bit of gold that I brought to a local mom and pop jewelry store in Erie (Dampsy and Baxter.)

They paid a bit more out for these stupid rings I had then the cash4gold.com crap.

I would check your local yellow pages for family owned stores instead of dealing with those stupid TV commercials.

Wait, you have a problem with loading a bunch of gold items into an envelope and shipping it out with payment to arrive later? What could go wrong?

[MTI]

Last year there was a consumer thing on the news about the "Cash4Gold" folks. The guy even got a check for $1 for a piece that was merely gold colored base metal.

[aklim]

http://www.cockeyed.com/citizen/goldkit/cheat.shtml

One option they suggest is to check it out first. The other thing I would suggest is to keep it and trade it in towards something you want. Like maybe an engagement ring, wedding ring and suffer ring set.

[450slcguy]

Originally Posted by dannym

When all the world currencies go in the crapper you'll wish you kept that gold.

The reality is you can't eat, drink or burn gold. It a shiny metal mostly used in jewelry and electronics, hardly a necessity. When/if the the currency markets crash, it's food, fuel, and ammunition that will be in high demand.

[mpolli]

The websites are pure scams. You are near a big city so you are in luck. I can give you the long answer or the short answer. You will get more money, the more motivated you are and the more educated you make yourself. You need to understand what karat you have and what % gold that is. You need to know what weight you have and what weight of pure gold that is. You need to know what a gram of pure gold is worth in London (about $37). You need to be looking for about 85% of that amount for the amount of pure gold you have. In any city there are lots of pawn shops and jewelers paying 40% to 60%. They all sell to one or two big recyclers that you can sell to also. I am going to guess it will be someone like www.mimrecycles.com or www.alphametalsrecycle.com To cut through the cra* just call and ask what they are paying per gram for whatever karat you have. Go with the highest one obviously.

[Matt L]

Originally Posted by 450slcguy

The reality is you can't eat, drink or burn gold. It a shiny metal mostly used in jewelry and electronics, hardly a necessity. When/if the the currency markets crash, it's food, fuel, and ammunition that will be in high demand.

You can always trade bullets for food.