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Selling Gold Jewelry,etc


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Hi Guys-

We're getting bombarded in this area with TV commercials advertising businesses wanting to buy gold jewelry,fillings,etc. Anyone have an idea what's the best percentage of gold spot you can get for it? While I don't have anything to sell, I wonder what they are offering on these deals. One TV station did an undercover investigation into this and while they didn't specify the percentages, they did say there was a wide range of prices being offered for the same jewelry.

Steve

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If they advertise on TV, they have the Plaque. Stay Away.

95% Spot is your minimum target.

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Buying anything other than bullion gold for 95% of spot is foolhardy. 14K is the most common jewelry gold, which is actually 58% gold. All smelters keep a percentage of the product, usually 2%. A fraction is also lost in the burn. A 10 gram 14K gold ring would yield 5.8 grams of capture, minus the melt loss, and 2% smelt fee. The total capture would likely be about 5.3-5.4 grams. For example, if you calculated at $1500 an oz for spot the melt value would then be $260. Then deduct shipping and insurance to the smelter. Shipping is nominal, however insurance can add up quickly at $2.00 per $100. I would not pay more than $195 for the aformentioned example.

Anyone buying at more than 75% of capture value is either making a major bet on futures or flunked economics.

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I certainly wouldn't have expected anyone to get 95% for jewelry gold. 75% seems like a fair percentage to everyone. Now if I can only find some... :D Some have offered less then 50% and doing a good business. Pays to shop around for the best deal.

Steve

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SEEN 2 EXPOSES AND EVEN TRIED A LOCAL JOKEL BUY SHOP AND what a ripoff at 10-20% spot-John :*&$*(:

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Unfortunately many folks don't understand the business side of buying gold. I get guys all the time wanting spot price for their raw gold. They bring in an oz of fines in a vial and want $1500; that just ain't gonna happen. They can't seem to get it through their heads that what's in that vial isn't bullion.

I was recently offered 18lbs of raw platinum nuggets. Just the shipping and insurance to the smelter would have been over $7000.

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Jackhunt.com has a scrap calculator you can play with. He only buys from dealers with a account and in larger amounts. I've used them many times and he is a fast pay.

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I can give you two names of folks that will give you 95% of spot of gold content.

10K 14K 18K 95% of gold content.

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I've worked with these folks and never had problems.

http://www.aragold.com/refining-schedule.html

The way you all are talking maybe, I should start buying gold.

I'll buy up to $2000.00 of fine looking Nuggets, Salty size and dust at 90% Spot from Az, Ca and Nm!

Ak, has to be checked out.

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