Anyone sell gold lately ???

R

runner

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I have a few Silver Eagles , not much really, but the wifey has an impressive collection of gold jewelry that has been bought through 35 years of birthdays, Valentines, Mother's Days etc. She was cleaning a bunch of it today and we broke out the scale to see what a few pieces weighed. I found a Melt Value calc. online that gave a melt price of 983 for 30 grams of 14k gold. Has anyone ever actually sold gold for melt value ? Not looking to sell anything but curious if anyone has experience with it.

TIA
 
runner said:
I have a few Silver Eagles , not much really, but the wifey has an impressive collection of gold jewelry that has been bought through 35 years of birthdays, Valentines, Mother's Days etc. She was cleaning a bunch of it today and we broke out the scale to see what a few pieces weighed. I found a Melt Value calc. online that gave a melt price of 983 for 30 grams of 14k gold. Has anyone ever actually sold gold for melt value ? Not looking to sell anything but curious if anyone has experience with it.

TIA
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Don't ever mail gold in. Take it to a reputable dealer.
 
Bob's Coins in Chelmsford (now defunct) used to buy silver and gold jewelry and silverware for melt value. He did a very good business at it too because he was fair and paid well.
He had a smelter in Rhoad Island do his melting and they would buy the end product. He was profitable at it... he said.

Try a local coin shop and see if they buy... and what they pay.
 
Also, I've heard of folks who buy gold & silver jewelry for barter in a Post-Apocalypse economy. Their thought is it has dual-value as precious metal and
something that can be admired for its beauty.
 
enbloc said:
Bob's Coins in Chelmsford (now defunct) used to buy silver and gold jewelry and silverware for melt value. He did a very good business at it too because he was fair and paid well.
He had a smelter in Rhoad Island do his melting and they would buy the end product. He was profitable at it... he said.

Try a local coin shop and see if they buy... and what they pay.
Click to expand...
His building is for sale now
I mailed him an offer a couple years back but he never got back to me.
Hard guy to contact
 
CATI said:
His building is for sale now
I mailed him an offer a couple years back but he never got back to me.
Hard guy to contact
Click to expand...
I've been doing business with Bob since 1981. Nice guy. Vietnam Vet. Air Cav.

1661042389992.png

Been about 4 years since I talked to him or his wife Denise.
Last I heard they were setting up at EBW Promotion shows from time to time...
EBW Promotions, LLC – Promoting Numismatics in New England Since 2001

There's one in Nashua, NH tomorrow...

Nashua NH Third Sunday Coin and Stamp Show​

Date: August 21, 2022
Click to expand...
 
enbloc said:
I've been doing business with Bob since 1981. Nice guy. Vietnam Vet. Air Cav.

View attachment 652579

Been about 4 years since I talked to him or his wife Denise.
Last I heard they were setting up at EBW Promotion shows from time to time...
EBW Promotions, LLC – Promoting Numismatics in New England Since 2001

There's one in Nashua, NH tomorrow...
Click to expand...
Yes. Someone told me he was still doing shows.
The building is pending sale. Reasonable price as well
I saw it go up but I always had my money elsewhere in the area
I wonder what they are going to do with it
 
CATI said:
Yes. Someone told me he was still doing shows.
The building is pending sale. Reasonable price as well
I saw it go up but I always had my money elsewhere in the area
I wonder what they are going to do with it
Click to expand...
I believe it was originally a grist mill. There is a stream running along the building. Not sure what the Chelmsford Historic Commission would allow?
Who knows these days? What were you intending for the property, if I may ask?
 
enbloc said:
I believe it was originally a grist mill. There is a stream running along the building. Not sure what the Chelmsford Historic Commission would allow?
Who knows these days? What were you intending for the property, if I may ask?
Click to expand...
I was going to do a retail store. I put one just out of the center instead
 
enbloc said:
Bob's Coins in Chelmsford (now defunct) used to buy silver and gold jewelry and silverware for melt value. He did a very good business at it too because he was fair and paid well.
He had a smelter in Rhoad Island do his melting and they would buy the end product. He was profitable at it... he said.

Try a local coin shop and see if they buy... and what they pay.
Click to expand...
So is it possible to get melt value for jewelery ? I would imagine there are a lot of dirtbags out there ,,, and you have to find a good dealer. Is it easier to get a better price during economic downturns ?
 
runner said:
So is it possible to get melt value for jewelery ? I would imagine there are a lot of dirtbags out there ,,, and you have to find a good dealer. Is it easier to get a better price during economic downturns ?
Click to expand...
Yes and no. You have to start with phone calls and make a list of who will buy without mailing out YOUR PROPERTY for valuation. Then research and see who has the best rep/reviews. Followed by a live walk-through and meet & greet. Once you get 2 or 3 that you think you could use. Bring in a sample of items and get an estimate. If they say they have to be "sent out" say "Thanks" and walk away. Sometimes what they say on the phone is to lure you in.

A good trader will give you a value after on-site inspection, a possible PM content test, and after reviewing current spot pricing. Anything else and the fix is in.
Keep in mind that most are only interested in gold/silver/platinum. Any stones may or may not get a valuation. Sometimes, if a deal is made, the buyer will ask if you want the stones back because he only wants the metal. If you say yes, he will unceremoniously pluck them out with a needle-nose plier and put them in a small ziploc or paper folder. The wincing I've seen was epic.

Once you find a buyer or two, use them exclusively, or until you find another place that you have put through the same paces. The rapport that you build is key to trust and pricing IMO. If you have receipts, bring them. Many times, the buyer may be suspicious of buying "stolen property." A good receipt can get you a sightly better price sometimes because he knows he won't have any "legal" problems with the purchase. Everything is fluid though and changes all the time, so be aware of that.

As to "better pricing during economic downturns" I've found that is when the pricing is lowest. The smell of blood in the water can bring in all kinds of low-ball offers if they think you "need" the cash more than the jewelry...

Like I said, try some trial runs with some smaller, inexpensive, less-sentimental pieces first; after doing your due diligence of proper selection of buyers.

Good luck and let us know how you make out.
~Enbloc

PS: I've also seen traded jewelry in the display case for sale because they were nice pieces and not "melting" specimens.
If you have nice pieces of jewelry, my first advice would be to consign or sell them outright.
 
enbloc said:
Yes and no. You have to start with phone calls and make a list of who will buy without mailing out YOUR PROPERTY for valuation. Then research and see who has the best rep/reviews. Followed by a live walk-through and meet & greet. Once you get 2 or 3 that you think you could use. Bring in a sample of items and get an estimate. If they say they have to be "sent out" say "Thanks" and walk away. Sometimes what they say on the phone is to lure you in.

A good trader will give you a value after on-site inspection, a possible PM content test, and after reviewing current spot pricing. Anything else and the fix is in.
Keep in mind that most are only interested in gold/silver/platinum. Any stones may or may not get a valuation. Sometimes, if a deal is made, the buyer will ask if you want the stones back because he only wants the metal. If you say yes, he will unceremoniously pluck them out with a needle-nose plier and put them in a small ziploc or paper folder. The wincing I've seen was epic.

Once you find a buyer or two, use them exclusively, or until you find another place that you have put through the same paces. The rapport that you build is key to trust and pricing IMO. If you have receipts, bring them. Many times, the buyer may be suspicious of buying "stolen property." A good receipt can get you a sightly better price sometimes because he knows he won't have any "legal" problems with the purchase. Everything is fluid though and changes all the time, so be aware of that.

As to "better pricing during economic downturns" I've found that is when the pricing is lowest. The smell of blood in the water can bring in all kinds of low-ball offers if they think you "need" the cash more than the jewelry...

Like I said, try some trial runs with some smaller, inexpensive, less-sentimental pieces first; after doing your due diligence of proper selection of buyers.

Good luck and let us know how you make out.
~Enblo
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We have no desire to sell now ,,, hopefully only pass the gold on to the kids ,,,, it is amazing that the gold and silver really never loses value and just grows every year ,,,,, maybe the broken pieces , give it a trial run and turn them into new stuff ,,,, if we do I will let you know
 
runner said:
We have no desire to sell now ,,, hopefully only pass the gold on to the kids ,,,, it is amazing that the gold and silver really never loses value and just grows every year ,,,,, maybe the broken pieces , give it a trial run and turn them into new stuff ,,,, if we do I will let you know
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That's because the Federal Reserve cannot make more gold and flood the market with it. Precious metals are an amazing store of value for your future and your future generations.
 
runner said:
We have no desire to sell now ,,, hopefully only pass the gold on to the kids ,,,, it is amazing that the gold and silver really never loses value and just grows every year ,,,,, maybe the broken pieces , give it a trial run and turn them into new stuff ,,,, if we do I will let you know
Click to expand...
Oh, I didn't want you to "sell now"... only do the leg work in better times and establish "Potential" buyers for if and when it becomes necessary.
If the SHTF, that would be a bad time to explore the process...
~Enbloc
 
Ask "what percent of spot do you pay for the melt value of jewelry gold". Some dealers that like to control the narrative will give evasive answers; honest ones who respect your intelligence and who pay decently will tell you.

You will be doing well if you get 50% of the spot value for the melt value of gold jewelry.

There are multiple claims of "we pay the highest" but nobody in the industry gives honest, easily compared, up front pricing info like "We pay 50% of the melt value based on current spot".
 
Rob Boudrie said:
Ask "what percent of spot do you pay for the melt value of jewelry gold". Some dealers that like to control the narrative will give evasive answers; honest ones who respect your intelligence and who pay decently will tell you.

You will be doing well if you get 50% of the spot value for the melt value of gold jewelry.

There are multiple claims of "we pay the highest" but nobody in the industry gives honest, easily compared, up front pricing info like "We pay 50% of the melt value based on current spot".
Click to expand...
Yup, the lowest I've been offered for a small quantity of gold wedding bands was 35% of spot. Recently sold a small batch of rings for 85% to a dealer on Cape Cod.
 
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