WOW - I just sold my old gold........

[thomas998]

I've read quite a few posts on this site... and I'm afraid some of you are getting ripped off a little bit... I person claimed the had just an ounce and only got 133 dollars.... Well even if it were only 10kt gold it would have been worth 320 dollars if gas was selling for 850 and ounce... So in hopes of helping people keep from being ripped off... the following is a rough guide to what you should expect for 1 ounce of gold in various kts... since I doubt anyone has a scale that works in troy ounces these numbers assume you have weighed the gold on standard scales.

10kt 38
14kt 51
18kt 68

above is the dollars per hundred dollars that gold is currently selling for.... so if you had one ounce of 10kt gold and gold is trading for 850 and ounce you simply multiply 38 time 8.5 and get $323 dollars for the value of your gold.

As a general rule don't use mail order or the internet to sell your gold. Most every major or even minor city in the US has a store that sells coins or a pawn shop. Most all coin dealers and quite a few pawn shops will buy gold. And you are more likely to get a fair price if you go there... also don't go there unless you have some idea of what your gold is worth, because even they will take advantage of you if they can. For rings, if you know your are going to sell it then pop the stone out... if its a class ring just break it out unless its a real stone... for wedding rings, try to pry the prongs apart to get it out, while you can cut the prongs with wire clippers you losing weight when you do that... Also don't let them try to con you with some BS about the prongs not being gold in old rings, I had that happen once in an old wedding ring where the band was yellow gold and the prongs were silver... The fact is in most all older jewlery the prongs were made of platinum because it was stronger than gold and platinum is worth even more than gold... so don't allow them to con you in to knocking off anything for that.... remember if you think your getting a bad deal walk out the door. Better to wait and find a legit dealer than let some crook steal you blind.

 

[Kycha]

I called Fed Ex at 9:15 am yesterday and they picked up my package at 10:45 am. I got a call from USGB today at 11:15 am with my payout amount.

A few of the things I sent in weren't gold...according to them. A couple of pieces I wasn't so sure about either, but the two rings I thought I could see an "18" engraved inside so not sure why they weren't considered "precious metal" (the term the guy on the phone used.)

Anyway for what was left...a 26" herringbone chain and 4 gold bands I am getting $311.60. The chain was damaged and I would have never worn any of the rings so I feel like I came out OK. The rest of the stuff I just told them to donate to the Salvation Army because I didn't think it was worth paying for insurance and shipping to get them returned.

It may be that those pieces were gold filled or plated.

 

[Kathi OD]

I just sold my gold too, but I didn't use any of the mail-in places. A friend, who works in the jewelry business, took it somewhere in Philadelphia. I had several necklaces, a couple of bracelets, and some earrings. All of it was marked 14 or 18K. One piece didn't test as gold, so I didn't get anything for that. Altogether I got $925!!! WOOHOO!! I paid my friend $25 for her trouble in taking it into the city. Best $25 I ever spent!!

 

[bumbershoot]

thomas998, I hear what you're saying, but unless we're selling to the final buyer, we're never going to get full value. Pawn shops, jewelers, internet places, they are all going on to sell to other people (who might sell to other people), so they are never going to NOT make a profit.

If something is sitting in a drawer, broken or just not being used, there's value in a place that will conveniently pay you something for it, even if that something isn't what the ultimate buyer will pay for it.

 

[thomas998]

thomas998, I hear what you're saying, but unless we're selling to the final buyer, we're never going to get full value. Pawn shops, jewelers, internet places, they are all going on to sell to other people (who might sell to other people), so they are never going to NOT make a profit.

If something is sitting in a drawer, broken or just not being used, there's value in a place that will conveniently pay you something for it, even if that something isn't what the ultimate buyer will pay for it.

I'm well aware that you wont get the full value of the gold... but I've seen some people that appear to be getting about 1/3rd the value of the gold they are selling and that is way below what why could and should expect to get... locally in a reputable coin store I've gotten about 95% of the full value.... that's significantly more than 33%.

 

[zachsmomie]

Someone posted a couple posts back that they do have a stone appraiser available, but you would probably need to call on that, b/c when I called they said take out the stones before you send.

I stumbled across this thread yesterday and I went online and did a live chat with the USGB person regarding the stone issue. She said that they have a GIA certified specialist on staff who evaluates all the stones in the jewelry so none of the stones needed to be taken out. I printed out the chat window tect so I would have it. So I bit the bullet and sent mine out yesterday afternoon and FedEx shows it was delivered today @10. I haven't gotten a phone call but the holiday is tomorrow so I may not hear anything until Monday.

 

[mafibisha]

I'm well aware that you wont get the full value of the gold... but I've seen some people that appear to be getting about 1/3rd the value of the gold they are selling and that is way below what why could and should expect to get... locally in a reputable coin store I've gotten about 95% of the full value.... that's significantly more than 33%.

I'm not sure to whom you're referring here who received only 1/3 the value?

Regardless, unless your local small town *coin store* or *local jeweler* are also in the business of melting down the gold into gold bricks, they won't come anywhere close to 95%.

The local places are only the *middleman* and will also sell their intake to dealers such as USGB.

I suspect that perhaps you thomas998, are one of the local coin store dealers?

 

[jenseib]

I do feel some people did get ripped off, but I would definately say that most who did, went to a local jeweler. From all I read, you do much better at certain online places. I was offer 10 bucks per penny wieght, but I thought that was low. Also some stuff that I am 99% sure was 24 KT, Iwas told was not gold at all. But that bracelt cost $500. ?????

 

[momoftwodisneykids]

After reading this thread a few weeks ago, I decided to go for it and send my old gold to USGB. I sent 7 pairs of very small earrings, 3 rings, 3 bracelets, 3 chains and a few charms. They also took a silver anklet and a pair of earrings. It was so easy and they even paid for the shipping. I was floored when they called me and told me what I would get. We are going to AS Sports over Labor Day for the free dining and this will pay the balance and still leave me with $50 for souvenirs. You guys on this board rock! I would never have known unless I read this thread.

Joanne

 

[Auntmeme]

What is the info for USGB? about how much is the going rate? I've been meaning to do this and now seems like a good time.

 

[Jenvenza]

I had no idea everyone was getting so much for their gold!! I will be digging through my old jewelry tonight!!

 

[*KeepMovingForward*]

What is the info for USGB? about how much is the going rate? I've been meaning to do this and now seems like a good time.

Their website is http://www.usgoldbuyers.com/

The rates change daily as the price of gold fluctuates, but you can find their payout rates posted on the homepage of the website.

 

[npmommie]

I think Thomas was referring to my post about getting $133. I said i had barely an ounce, in reality when i weighed it on the postal scale, it was 0.6........not an ounce at all.
I had a tangled mess of chains, one of which was 10K ( there were 3 thin chains) , a small ring, 2 bracelets, and a silver ring.
for me this stuff had been sitting for a decade probably, so getting the $133 was fine, it is 133 more than i had the day before the check arrived!

 

[thomas998]

I'm not sure to whom you're referring here who received only 1/3 the value?

Regardless, unless your local small town *coin store* or *local jeweler* are also in the business of melting down the gold into gold bricks, they won't come anywhere close to 95%.

The local places are only the *middleman* and will also sell their intake to dealers such as USGB.

I suspect that perhaps you thomas998, are one of the local coin store dealers?

Read back through the posts there was someone that received 1/3 of the value of their gold jewelry and thought they had a great deal... And I assure you if you check around you can find rates that exceed USGB rates locally.... coin dealers are very competitive and when your dealing with them there is no insured shipping being paid for... you can bet that USGB isn't getting the shipping and insurance for free and they aren't eating the costs they're taking them out of what they pay you.

 

[jenseib]

After reading this thread a few weeks ago, I decided to go for it and send my old gold to USGB. I sent 7 pairs of very small earrings, 3 rings, 3 bracelets, 3 chains and a few charms. They also took a silver anklet and a pair of earrings. It was so easy and they even paid for the shipping. I was floored when they called me and told me what I would get. We are going to AS Sports over Labor Day for the free dining and this will pay the balance and still leave me with $50 for souvenirs. You guys on this board rock! I would never have known unless I read this thread.

Joanne

Don't keep us in suspense. What did you get for them?

 

[skylerc1]

Just curious what you got with the stones included? What kind of stones did you include zachsmomie?

 

[Cindy's Mom]

I just found this thread - I have a lot of reading to do

 

[Autumngirl]

I finally send it out last night and it was delivered at 9:05 this morning... I haven't gotten my call yet, but I sent, 5 rings, 6 charms, 1 bracelet, 4 pairs of earings and 5 necklaces. Most of the stuff was 14Kt, but a couple were 10kt and one was 18kt. So, I'm waiting for my call now........

 

[katiedid36]

Just got the call about my 2nd batch. $687.00 My 1st was $537. No too shabby for old stuff lying around!

 

[momoftwins]

I had my diamond reset to another settingand now I have an empty setting. It reads inside: 14KT 950PT. What does the 950PT mean?

Thanks.