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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
 Posted - 10/29/2007 : 18:30:16
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On Saturday I happened to catch a TV commercial for 'The Gold Kit'.
The Gold kit is designed for owners of broken and out of date gold jewelry to sell their gold through the mail and recive quick payment.
Before you discount this as just another Ronco-type get-rich-quick product, consider this;
Lippincott Inc., the company behind 'The Gold Kit' is a buyer of scrap gold and scrap platinum. I did sell scrap gold jewelry to Lippincott some years back when gold was in the doldrums and I was reluctant to take the gold to a jeweler and feel embarrased by its damaged condition. (I tried to make a gold charm out of the scrap, didn't work out like I had planned.)
Even if you never deal with Lippincott, the fact they are telling the public gold is going up in value/we buy gold may add fuel to gold's increase in price.
In spite of what the fiat paper pushers say, we are not in a gold bubble.
Not until gold is the only thing the financial experts talk about,
not until the masses are cashing out fo their 401Ks to buy the yellow metal,
and not until gold bubble blogs start popping up do we have to worry about a gold bubble.
(This applies to other blogs/forums, didn't mean to annoy anyone here with this)
Starve the Trolls, don't feed or encourage them.
Destroy the Moonbat breeding caves.
Moonbat, A winged troll.
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Cody8404
Penny Hoarding Member
USA
602 Posts |
Posted - 10/29/2007 : 18:49:34
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I think you are right.
Gold is up over 40 times the face value of an old $20 dollar gold piece. Oil is over $90 a barrel. The value of a dollar keeps breaking record lows.
The most important thing is how many minutes or even seconds of a 2 hour prison sentence Hilton has made now.
People have no clue what is really going on and they seem to be glad of the ignorance.
Awake, O kings of the earth! Come ye, O, come ye, with your gold and your silver, to the help of my people, to the house of the daughters of Zion, to the help of the people of the God of this Land even Jesus Christ. |
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wavecrazed
Penny Sorter Member
USA
69 Posts |
Posted - 10/29/2007 : 20:46:24
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Whats the price of thiers? My fiance and I bought some 14k earings at a garage sale. We paid 17 dollars and at last months price we could have sold it for 50. We went to the jeweler and had it tested. I'm in the market for some testing chemicals and kit. I understand there is a different chemical for 10k, 14, 18 etc. Thanks
scrappin" all over |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/30/2007 : 08:08:11
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| I can't remember if it was on this board or on a different one, but somebody said that in the late 70s early 80s during the peak of the last gold run that people would go into a neighborhood and hand out flyers that said "buying gold on such and such a day". Then when the day came they would drive a truck through the neighborhood buying anything that anybody wanted to sell... |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/30/2007 : 08:21:04
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quote:
Originally posted by wavecrazed
Whats the price of thiers? My fiance and I bought some 14k earings at a garage sale. We paid 17 dollars and at last months price we could have sold it for 50. We went to the jeweler and had it tested. I'm in the market for some testing chemicals and kit. I understand there is a different chemical for 10k, 14, 18 etc. Thanks
scrappin" all over
As mentioned on another thread, the place that adverstises about the cheapest fees for buying scrap gold is Midwest Refineries. They advertise buying scrap gold for 6% under the spot price.
The best place that I found for buying test kits is E-Bay. By the way the chemical is the same in all test bottles, it is the concentration that varies. The chemical is called aqua regia. Aqua regia is latin for royal water so named because it is one of the few chemicals known that will disolve the royal metal...gold. It is a mixture of Nitric and Hydrochloric acids. Testing is based on the fact that the more pure the gold is, the stronger the aqua regia has to be in order to disolve it (quickly).
For example if you add a drop of 14K test solution and the gold disolve is < 14K and if it does not disolve it is 14K or better. Then you have to test again with either 18K or 12K to narrow down the initial finding.
Testing gold this way takes some practice as there is some art to it, but it doesn't take that long to get the hang of it. |
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fiatboy
Administrator
912 Posts |
Posted - 10/30/2007 : 10:31:26
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quote:
I understand there is a different chemical for 10k, 14, 18 etc.
If you can find one of these kits---the kind that has different concentrations for different karats---buy it. They work great. Just remember that you'll want to test the metal that is underneath the surface, and to get there, you'll end up damaging the piece of gold....not that is matters much with scrap, but if you're testing jewelry for someone else, for instance, let them know that you must damage their Beloved's Ring of Eternal Love to find out that it's plated.
If you want to get serious about gold, buy some agua regia, and experiment and test like crazy. Horgad is right, there is an artform to it. But it's not difficult.
The Gold Kits don't rip off people too badly. I think they're a well-marketed product that many other people wish they had developed. I always laugh when I see their commercials on TV. They're so ridiculous! Maybe it's a sign of the times that they've been so successful. All these people (many older people) are desperate for cash, so they sell off whatever gold they have.
"Bart, it's not about how many stocks you have, it's about how much copper wire you can get out of the building." --- Homer Simpson |
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wavecrazed
Penny Sorter Member
USA
69 Posts |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 10/31/2007 : 10:37:30
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quote:
Originally posted by wavecrazed
Found this gold kit on amazone for 16 dollars and shipping.
By the way, I found that it is much easier to read the results of the test if you test on the article itself instead of using the test stone. The downside is that if you don't use the stone your odds of damaging the item go way up. Of course, if you are selling it for scrap gold content, damage does not matter.
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Edited by - horgad on 10/31/2007 10:44:22 |
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Lippincott gold kit
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