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Miser-stro
Penny Sorter Member
74 Posts |
 Posted - 01/31/2008 : 01:12:45
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Hello,
I have a couple Oz of scrap gold I need to sell. Whats the best place to do this? Where can I get the most for it?
Are those online buyers you send your Gold to reputable? And if so, is one better than another, such as Kitco, U.S. Gold Buyers, Midwest Refineries, etc.?? Also, how does ebay compare? I noticed there were many scrap Gold auctions listed. Whats the most streamlined method? Thanks in advance for any help!!
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fiatboy
Administrator
912 Posts |
 Posted - 01/31/2008 : 02:18:51
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Depends...how much do you have, and what's the purity? 14k, 18k, etc?
(No worries if you don't feel comfortable answering how much you 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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NotABigDeal
1000+ Penny Miser Member
USA
3890 Posts |
Posted - 01/31/2008 : 06:24:21
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My local coin dealer buys scrap gold/silver. Good prices as well. Try your local dealer before you try the mail route.
Deal |
Live free or die.
Plain and simple.
"If you love wealth more than liberty, the tranquility of servitude better than the animating contest of freedom, depart from us in peace. We ask not your council or your arms. Crouch down and lick the hand that feeds you. May your chains rest lightly upon you and may posterity forget that you were our countrymen."
- Samuel Adams |
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n/a
deleted
478 Posts |
Posted - 01/31/2008 : 12:25:57
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| Goldkit.com sends you check and a free envelope to mail it. If you don't like the price, they send it back. Seemed ok to me when I used them. |
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Miser-stro
Penny Sorter Member
74 Posts |
Posted - 01/31/2008 : 15:39:20
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I don't have a huge amount of scrap, maybe 1.5 ozt of 14K. Then I have another 5 ozt or so of 14K Estate Jewelry. Which I also was going to scrap initially, but then a jeweler friend of mine said I might get a premium selling it just as it is, as Estate Jewelry on ebay.
I was also curious about that Gold Kit place. I'm kinda sceptical though with anything tagged "As Seen on TV". Has anyone else had dealings wth them? WAIT: I was right, I just called them. They ONLY give $3 per pennyweight for anything under 5 oz!!! What a rip off. (sorry CuproNickel)
I aso just called a coin dealer in a city about 1.5 hrs away thats paying $21 per pennyweight. Its sounding like this might be the place to go. What are other people getting or paying since Gold has hit the $900+ mark? |
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deleted
478 Posts |
Posted - 01/31/2008 : 16:33:25
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| I sent them some tiny stuff I bought at a garage sale for .25 cents. Very thin 10K gold that weighed next to nothing. They gave me $15 for it. I guess I'll shop around next time. |
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Miser-stro
Penny Sorter Member
74 Posts |
Posted - 01/31/2008 : 18:58:14
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Not bad Cupro!! You didn't lose anything then, rather gained a nice profit!! Congrats. I would still check around first. Its sounds like you might be able to get a lot more than what Goldkit is paying. Like 7 times more, according to the few phone calls I've made so far.
Obviously due to me posting this topic in the first place indicates I am very new to this. I also just picked up one of those pocket scales in addition to my Ohaus balancing type scale. That way I know exactly how much gold I have and if I'm being shorted or not when trying to sell.
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starwarsgeek171
Penny Hoarding Member
USA
651 Posts |
Posted - 02/02/2008 : 09:41:22
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| My coin dealer pays very well for scrap gold. I recently wrote a post about some jewelry I found in a junk drawer. I would've been happy with $50-100 (not keeping track of scrap prices, I had no idea as to the value), yet I was offered $275! I was very happy, and I traded it for some Silver Eagles. If you have a reputable dealer, you will be treated fairly. |
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deleted
192 Posts |
Posted - 02/02/2008 : 10:27:15
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Here's a suggestion:
Don't sell it.
Give one piece to your nephew for his birthday and another to your niece.
Give some to your neighbor's kid, and some to your wife's parents on their birthdays.
Soon it will all be gone.
In the mean time you don't have to buy any birthday presents, thereby saving money.
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The market can stay irrational longer than you can stay solvent.
John Maynard Keynes,
English economist (1883 - 1946)
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Miser-stro
Penny Sorter Member
74 Posts |
Posted - 02/02/2008 : 11:48:11
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My local coin dealer is the highest paying in town for 14K, and is still only paying about $16/DWT.
The other dealer I mentioned is in a bigger city (Louisville, KY - about 1.5 hrs away) they are paying $21/DWT. Thats 100 bucks more an ounce!
Its not actually my Gold. Its some stuff that was passed down to my in-laws and I'm selling it for them. So distributing it as gifts would be out of the question. |
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fiatboy
Administrator
912 Posts |
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c140cessna
Penny Collector Member
USA
419 Posts |
Posted - 02/02/2008 : 13:09:33
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quote:
Originally posted by Miser-stro
Hello,
I have a couple Oz of scrap gold I need to sell. Whats the best place to do this? Where can I get the most for it?
Are those online buyers you send your Gold to reputable? And if so, is one better than another, such as Kitco, U.S. Gold Buyers, Midwest Refineries, etc.?? Also, how does ebay compare? I noticed there were many scrap Gold auctions listed. Whats the most streamlined method? Thanks in advance for any help!!
I'll buy it - please PM me. |
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deleted
1 Posts |
Posted - 06/09/2008 : 16:50:21
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Allow me to resurrect an older thread since I am in the same boat. I have some scrap gold for sale as well and wondering what's a fair value I should be looking for?
It's basically a gold chain and some small jewelry piece, 24k weighing at 63 pennyweight.
I originally send it to an online dealer I found on Google, and they sent me $460-ish for it. Once I found out the weight, I thought I should get a lot more than that, so after some negotiation, they offered me $1400. Once I started calling other jewelers, I found out the range per pennyweight seems to between $33 to $39. So I should be looking at between $2000 to $2400 for them.
I am kind of confused by this, seeing now the range is between $400 what I was originally offered to the high end of $2400.
What amount should I really be looking at?
Thanks! |
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magnasort
Penny Pincher Member
USA
174 Posts |
Posted - 06/10/2008 : 02:14:12
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| I have shopped around and Midwest has the best payout. I have called goldkit, etc... total ripoff. My last 7 shipments to Midwest have been handled quickly and got check back in short order. The pay was as stated and agreed with my scale with the exception of some chinese "14K" which I had checked and was magnetic... Midwest agreed that was not gold. They also pay real decent on sterling and scrap silver. |
Magnetic sorters, no moving parts except the coins |
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Topic |
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Where to sell Scrap Gold ??????
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