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Gumby_5
Penny Sorter Member
USA
52 Posts |
 Posted - 02/13/2010 : 21:18:45
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Quick questions. I have a handful of 1/10 oz Gold eagles and have dropped some money for jewelry for the wife as a push gift but do not know the first thing about gold and silver chains and such.
Friend of the family knows I read these sites and talk about it to them. She recently came across a ball of random chains. Some have the 24k right on them and some don't. I believe she said there are about 24 of them and she asked me to come by and have a look at them and give them advice. The only advice I could think to give them was to take them around the the pawn shops and the 2 jewelry stores in town that buy and get prices. And then I told her about 10 times to do not NOT sell to them. Tell them thank you but I thought it would be more money and leave. Then I told them to write the prices down and categorize them for future use. And when the time comes and you need the money to come to me and I would buy them.
How does one go about buying old jewelry and such?
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2000 halves Sorted
0 Silver of any kind
97 marked coins of various colors |
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bman
Penny Collector Member
USA
425 Posts |
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Market Harmony
1000+ Penny Miser Member
USA
1274 Posts |
Posted - 02/14/2010 : 08:23:16
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quote:
Originally posted by bman
First check all of it with a strong magnet, discard anything that sticks to it because it's fake. Next, seperate all of it by kt and weigh it with a gram scale, then go to this website and plug in the weights.
You must be logged in to see this link.
Alternatively, you can simply just send the whole ball of chains to a scrap buyer just the way it is. It is their job to separate and then their job to tell you what the whole thing is worth. If you deal with a good company, you shouldn't have to worry about untangling, running to different pawn shops (who won't give you a good price anyway), and then finally sending in the scrap. Skip all of the unnecessary running around. Your friend of the family can feel confident in using my company, Market Harmony LLC to handle the transaction fairly.
btw: I did a side by side, 3 ozt of 14K, comparison of my payout with the expected payout from bman's link, and I beat the competition. My expected payout= 1498.30, their expected payout= 1466.64.
So, shop around before you send in any scrap... my website is in my signature  |
goto the new and improved realcent: http://realcent.org |
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Mcprice302
Penny Collector Member
USA
404 Posts |
Posted - 02/14/2010 : 09:00:37
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I agree with bman. You'll need scales, but also a way to test the karat of the gold. Just because it sais 14k, doesn't mean it is. This can be done with nitric acid (careful with this stuff!), or an electronic tester, but if you get serious about it, just get both.
Gumby 5, Market Harmony is a stand-up guy and is well trusted around here and rightfully so. However, I would never just send a wad of gold off not having a clue as to the value. It's simple math and the formulas can be found very easily on the internet. If you don't understand them, say so and I or someone else will surely be glad to help. Good luck in whatever you decide. STAY AWAY FROM PAWN SHOPS AND "TOP DOLLAR FOR YOUR GOLD" PLACES!!! |
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Gumby_5
Penny Sorter Member
USA
52 Posts |
Posted - 02/14/2010 : 15:13:30
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Thanks for the info.
Just to clarify when I mentioned Pawn Shop it was only for reference as I feel that they would know more then the average Joe since they are laying down all that cash and would not do so for fake chains. I am aware most places pay 60 cents on the dollar and when I relay this information to people the common response is "oh great I was expecting less" or "well right now in my hands it is not worth anything so 60% would be great"
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2000 halves Sorted
0 Silver of any kind
97 marked coins of various colors |
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silvernut1
New Member
USA
18 Posts |
Posted - 02/14/2010 : 19:18:33
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I'm new to Real Cent.
I picked up a gold/silver test kit on eBay late last year and it worked well.
You can get a complete gold/silver set for $30 or so.
Just don't use the 'black' stone that they provide as it is difficult to see how the silver sample changes color.
I use a small file and a scrap piece of plexi-glass placed over a white sheet of paper to easily see the color change on silver sample.
Gold is easier to test as it just dissolves the sample at the appropriate karat weight of the gold.
Be careful when handling the nitric acid.
Hope this helps.
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Silver-Nut |
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Ember
Penny Sorter Member
USA
27 Posts |
Posted - 02/15/2010 : 10:24:09
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I have this calculator saved in my bookmarks. You must be logged in to see this link.
In step 2, you can convert the weight to grams, just click the button before calculating the price. |
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scrap gold chains
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