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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 01/19/2008 : 09:22:37
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I found a chain in a junk drawer the other day. I asked my wife and kids, and nobody knew about it. I'll bet my wife got it as a gift, but she probably thought it was fake or something and ended up just throwing it aside. Anyway, since nobody claimed it, and it felt like just the right weight for its size, I brought it to be tested.
I was thrilled to find that it was worth 275 dollars in scrap value!
I think NOW might be the time to convert your scrap gold into something else, as the recession is coming. That was a lot of money for a teacher, so I converted the value into some brand new 2008 Eagles! Silver to 50 dollars an ounce by 2025! 
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85 Posts |
Posted - 01/19/2008 : 09:43:14
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Great find! Sell now if you feel that the price of gold (for example) has peaked, that you may soon need the cash, or that you could do better if it were in another metal such as the silver you bought. Scrap gold or silver should always go higher if gold and silver go higher. But of course if they tank so will the price of scrap and perhaps even faster.
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"The key to building wealth is to not lose money." - Warren Buffet |
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478 Posts |
Posted - 01/19/2008 : 17:45:30
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| You'd be amazed at what you can buy at town wide garage sales if you get out early. I bought a 10K cased broken lady watch (tiny) for $1.00 and a very thin 10K braclet for .10 cents. Mailed them in to one of those goldkit places with the free envelopes and got $20.00 for them. The gold was PAPER THIN on these and weighed next to nothing but it was still a nice find. Bought a Silver Canadian Maple leaf with the profit over the Summer and still had leftover money for a beer. I love junking for jewlery at town wide garage sales. I have over a dozen sterling silver rings stamped .925 that I paid between 20 and 50 cents each for. Some even have stones in them. When I get a few more, I plan on cashing them in as well. |
Edited by - n/a on 01/19/2008 17:47:46 |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
 Posted - 01/20/2008 : 02:15:33
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| I will be keeping my eyes open for scrap gold finds (at yard sales and flea markets) that I can convert into silver this summer! |
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Miser-stro
Penny Sorter Member
74 Posts |
Posted - 01/20/2008 : 04:38:10
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This kinda makes me sick.... I am a Yard Sale junkie if there ever was one. In fact I'm quite proud of my Yard Sailing ventures. Unfortunately, I just got interested again (since I was a very young kid) in collecting coins and learning about precious metals a couple months ago (since the last Yard Sale season). I usually look for kool antiques, and anything else of high quality that I could flip on eBay (or just keep). I also look for vintage musical instruments, cameras, and other equip and have been very successful over the years.
I get the newspaper the day before, assign each yard sale ad a number, then on a separate piece of paper I make a list 1 through the number of yard sales I have marked in the newspaper. What I then do, is list in geographical order in relation from where I am starting (home) the most efficient way to hit EVERY yard sale in the paper. I also MAKE SURE I know exactly where each sale is located by familiarizing myself the day before will all the addresses. You'll be astounded at how much this speeds things up. No more skipping back and forth accross town (they're never in order in the paper), or pulling out the map trying to find that Rd. you forgot about. You can then get up at daylight (its an unspoken rule, yard sailers ignore starting times) and hit all the sales on your list faster than anyone else in town.
I'm 27, and have been doing this since I've had my driver's license. My record number so far of sales hit in ONE MORNING: 47 SALES!! I plan to break 50 in one morning this spring. I don't make a living at this, but have turned several times over the years a $1000 profit from one morning. Its very addictive.
The reason I'm sick about it as mentioned in the outset....... I have never once thought to look for scrap gold, jewelry, old coins, or anything else of that nature. What have I missed!?!? (no maybe's to it) O'well, next time. Just a few more months!!
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478 Posts |
Posted - 01/20/2008 : 05:58:49
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Those boxes of costume jewlery often contain the real thing. Look for the .925 marking inside silver rings. People often overlook these and I found 4 in one box this summer. Got them all for $1.00 or .25 cents each. Some have stones in them that I have yet to research. One even appears to be a very small diamond. We live in a throw away society and you can profit from this if you know what to look for.
OT: I also got a huge pile of ratty looking welding cable (copper) that weighed over 80 lbs at a garage sale. Paid $2.00 for it. It pays to go through the trashy looking boxes of rusty tools that nobody wants. |
Edited by - n/a on 01/20/2008 06:01:15 |
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horgad
1000+ Penny Miser Member
USA
1641 Posts |
Posted - 01/20/2008 : 10:08:33
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Don't forget to look for brass/bronze when you are hitting those garage sales. It is pretty common to find that stuff selling for 50% of scrap price.
Don't forget your magnet. It is an essential tool |
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478 Posts |
Posted - 01/20/2008 : 10:59:57
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| Yes, a magnet is a MUST. |
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 01/20/2008 : 11:30:38
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| Sounds like we're all looking forward to the warm days of summer! |
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pencilvanian
1000+ Penny Miser Member
USA
2209 Posts |
Posted - 01/20/2008 : 12:22:24
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Footnote on jewelry:
I once bought a small bracelet for 50¢ which had coins attached to it,
2 coins on the bracelet were of interest to me
one was a Canadian Dime dated 1960 (.800 silver)
one was a 1/10 Guilden from Netherlands posession of Curacao dated 1944 (.640 silver)
not bad for 50¢ if I do say so myself.
Don't kick yourself Miser-stro on skipping the possible finds you could have made, we all have passed on good stuff without realizing it, I know I have.
Don't think about what you could have found,
think about what you Are going to find.
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fiatboy
Administrator
912 Posts |
Posted - 01/20/2008 : 13:27:12
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| I love looking for garage sale jewelry, broken gold scrap, and old sterling. This stuff adds up fast, but I have some words of advice if you find some old jewelry: don't expect the stones to be worth much. With few exceptions, the money is in the metal, not the stones. Get the stones checked, for sure, but remember that most stones are near worthless. Just don't get your hopes up, that's all. |
"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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478 Posts |
Posted - 01/20/2008 : 18:57:01
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Yes, the stones look like garbage on most of the .925 sterling rings, except one I have.
It cuts glass and appears to be a small diamond. I also got BURNED big time by purchasing a tiffany marked chain that was over a foot long and had .925 stamped on it. Bought it for and forgot to check it with my magnet...... silver plated IRON. Newby mistake that I should have seen! Internet search showed that these fake tiffany chains are Chinese and are all over the place. |
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Sell that old scrap gold NOW!
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