Selling a gold ring

[bouncethelight]

Originally Posted by killer2021

I am taking it that you didn't spend hundreds of dollars on this ring.

Even a plain metal class ring will be several hundred dollars. If you want gold, it goes up to closer to $1000. They're not cheap!

[krobey]

Go to CDS Refining, they accept small amounts of gold
519 658 3597

[darrylvk]

Originally Posted by Padgett2

My memory may be faulty on this, but it seems to me that my class ring barely met the definition of gold. They had to be cheap so that as many of the graduating class as possible could buy them.

I am a gold buyer in Sarasota, Fl. I buy these class rings every week. Most class rings are only 10k although there may be an occasional 14k ring.

A dealer will usually deduct a little weight for the stones as they have no resale value. They will weigh the ring to see how many grams less the estimated weight of any stones and quote you a price based on the weight. These scales are weighing in troy ounces. There are 31.1 grams in a troy ounce.

The mail in firms usually pay the least. pawnshops have to hold their gold for thirty days and will usually pay a little less than some gold buyers. You should be able to get 70% of the golds value when selling the ring. If you nare offered less go mon to the next shop.

[UrbanAdventurer]

Yeah have a jeweler give you the weight in grams, then determine what the karat is, then you should be able to plug that into a web formula to give you the value based on the price of gold that day. They won't give you that exact value since they're entitled to a broker fee, but I'd say don't accept any offer less than 90% of what the actual value comes out to.

[j_k_k]

Originally Posted by OhioNative

Does anyone have advice for selling a gold Josten's class ring? Are those mail-in places reliable, or is a pawn shop better?

If you go to a mail-in, you will get and deserve a major hosing.