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

[Maliki2]

I just sold my gold to US Goldbuyers and got $1,112. It was so easy and we are so excited!!! This will fund alot of our Disney trip this year!!

Wow thats a ton of money! How much did you sell?

 

[Mom2micayla]

Has anyone sold a piece of jewelry with a stone in it? I have an old engagement ring from an ex that has a small diamond in it.. maybe 1/4 or 1/3 carat solitaire. I'd love to get rid of it since it has no sentimental value and I'll never wear it.

 

[Shmily1]

I called Goldfellow about this yesterday. She said they will value any precious stones that is atleast 1/4 carat. Just put "value diamonds or return" on the paper you send in with the jewelry.

 

[Mom2micayla]

I called Goldfellow about this yesterday. She said they will value any precious stones that is atleast 1/4 carat. Just put "value diamonds or return" on the paper you send in with the jewelry.

Thanks! I'll look into using them then.

 

[rluey29]

Wow thats a ton of money! How much did you sell?

I did sell several pieces but alot of it was very cheap jewelry from Walmart that I have received over the years, twisted up or broken pieces, childhood rings, etc.

I did have two good pieces in there though. I had a large herringbone that I got as a graduation gift a long time ago, and a rope chain that was in good shape.

 

[Mary2e]

How much are they paying you per gram of gold?

 

[klfrech]

I just took 3.3 ounces of gold to my local jeweler. They were willing to give me $1,000. Gold is almost $900 an oz. That means they were taking 2/3 of the value for themselves. Can I do better with USGB? What is the percentage that they take?

 

[*KeepMovingForward*]

I just took 3.3 ounces of gold to my local jeweler. They were willing to give me $1,000. Gold is almost $900 an oz. That means they were taking 2/3 of the value for themselves. Can I do better with USGB? What is the percentage that they take?

When you go through a jeweler, most times they are only turning around and going to a larger gold buyer, so you take the financial hit for going to a middle man. You are much better off trying USGF, they cut out the middle man take.

 

[*KeepMovingForward*]

How much are they paying you per gram of gold?

They post the daily payout rate on their web page:

http://www.usgoldbuyers.com/ for US Gold Buyers

and

https://www.goldfellow.com/gold-prices.aspx for Goldfellows

 

[klfrech]

That's what I thought also. Thanks for the info!

 

[mena292]

Hello I have been following this thread for a long time. It is so overwhelming now with all of the posts. I have a few questions?

I am just starting to research both sites individually and am curious why you chose one over the other. I see US GoldBuyers, and Good Fellows, and people have sold to both. I have no idea which to choose?

Can you please help me out? I am leary. I am also very systematic and factual. It would be great to have a sticky at the top of this thread with a T chart comparing both and pros and cons? Can someone in admin do this? I think it would be super helpful.

Thanks so much to all in advance. I am ready to take the plunge!

 

[bopper]

I just took 3.3 ounces of gold to my local jeweler. They were willing to give me $1,000. Gold is almost $900 an oz. That means they were taking 2/3 of the value for themselves. Can I do better with USGB? What is the percentage that they take?

Pure gold is $900 oz.
Is your 3.3. oz pure gold or 14k gold? If it is 14k (or 10k or 18k) you have to take into account the percentage of gold as well.

 

[Mary2e]

They post the daily payout rate on their web page:

http://www.usgoldbuyers.com/ for US Gold Buyers

and

https://www.goldfellow.com/gold-prices.aspx for Goldfellows

Wow... what a ripoff. They're paying people by the pennyweight and there's 20 pennyweights to the ounce.

That's under $250 per ounce when gold is selling for $900 per ounce.

Thank you for the info!

 

[klfrech]

I just continue to get more and more confused!

What I took to the jewelry store was 14K and 18K pieces. I took 5 herringbone type chains, 3 charms, 3 bracelets and 2 10k rings. The jeweler told me that the total weight was 3.3 oz and offered me $1,000. From everything I've read, the two most frequently mentioned sites on this thread (USGB and GF) always pay more. True or False?

 

[klfrech]

Mary2e:

How are you coming up with $250 an ounce? I'm not seeing that.

 

[klfrech]

rluey29:

Do you know how much your items weighed?

 

[Mary2e]

Mary2e:

How are you coming up with $250 an ounce? I'm not seeing that.

There are 20 pennyweights in an ounce and I multiply 20 times the price quoted on their site. It came to just undr $250 per ounce.

While pure gold is $900 per ounce and I was looking at the 14 and 18karat prices, and pure gold is 24k, well, the price still is outrageously low.

These companies are making a mint.

You would be well served to find a jeweler who actually makes/designs his own pieces and ask if he'll use your own gold to make a new piece. I did that once and I still wear it all the time and know that it's made from all my broken jewelry as well as my pre-engagement ring diamond.

 

[klfrech]

I have 3.3 oz. of a variety of gold (14k and 18k). This morning my local jeweler was going to give me $1,000. That means I have 66 pennyweight (20 x 3.3). When I divide $1,000 by 66, my local jeweler is only giving me $15.15 per pennyweight.

When I look at USGB, I see that they are paying much more than that. Even if it were all 10K, they are paying $16.92 per pennyweight. GF is much cheaper. Am I reading this correctly or am I missing something here?

Thanks for your help.

 

[Mary2e]

Yes, your jeweler is giving you much less. However, IMHO it's still a bad deal.

Someone has to pay for all those commercials.

 

[klfrech]

I'm not sure that I'm can do much better than USGB. They are paying $23.69 per pennyweight for 14K. That is significantly more than any of my local jewelers. My DH went to a couple of others this afternoon and all quoted him roughly $15.00-$16.00 per pennyweight.

I see you are in NJ. I travel quite a bit to NJ to visit family. Have you had better success selling your gold in NJ?