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You see signs in front of every corner store nowadays: We Buy Gold!
These places can't all be trustworthy, let alone knowledgeable. I have exactly one piece of jewelry to unload, a ring. Does anyone know anything about the retail buying/selling market and where I should take this thing?
Weigh your ring with a gram scale. Your ring may have additional value if it is particularly old or beautiful. Art nouveau or art deco jewellery can command a significant premium, for example. If so, you may be better off visiting an established antique store.
Check out yelp and look up the local jewellers. The little old craftsman will work with you as opposed to a sales-weasel at a chain jewellery showroom.
If your ring is solely of melting value, seek to receive at least 75% of its melting value. Ask the price per gram. You will not get the values stated above, but don't be afraid to walk out.
Different businesses will pay different premiums. Cash4Gold and similar shylocks will offer 10%-30%. COin shops and jewellers value from 50%-80%.
Weigh your ring with a gram scale. Your ring may have additional value if it is particularly old or beautiful. Art nouveau or art deco jewellery can command a significant premium, for example. If so, you may be better off visiting an established antique store.
Check out yelp and look up the local jewellers. The little old craftsman will work with you as opposed to a sales-weasel at a chain jewellery showroom.
If your ring is solely of melting value, seek to receive at least 75% of its melting value. Ask the price per gram. You will not get the values stated above, but don't be afraid to walk out.
Different businesses will pay different premiums. Cash4Gold and similar shylocks will offer 10%-30%. COin shops and jewellers value from 50%-80%.
don't these fluctuate daily against the price of the metal? Do you get your updates online on the spot market?
and what about ebay? is it competitive to the mom and pop shops?
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I've often wondered the same thing, myself, especially about the rings. I still have a few I'd like to get rid of, but I don't intend to let them go for the price-per-gram, that's for sure. Rings don't weigh much, but their stones can make it more valuable.
As one poster mentioned, a jeweler is a good option (I have no interest in e-bay). I did this a few years ago with a ruby ring. I made sure to go before Valentine's Day, and got a good price for it (July would have been another good idea, for someone wanting a birthstone ring).
It's an old thread but just to add a note: I got ripped off when I sold gold the first time. I sold it for too little money. I trusted the wrong buyer because I bought jewelry there, over years. As I checked my old records and some old bill of sales, I recognized that the payed me not even the half of the current stock price for scrap gold. I was very disappointed and reclaimed my gold and jewelry back but it was gone and melted. Maybe I lost $1,000. A nice trip to Disney World with my kids.
So beware, if you sell gold one day. And don't even trust your jeweler you know since years.
I would take the ring to several places. That's the best way to know that someone is low-balling.
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Sell Your Gold, Silver and Diamonds To Ridge Coin And Gold Exchange
