Going After the Gold

February 21st, 2011

I was looking at my jewelry a while back and realized that I have several pieces of gold that I no longer wear. A couple of them have significant sentimental value, so I’d never consider getting rid of them, simply for that fact. The others- are different. They were pieces that I bought myself or that my ex bought me (at my request) and I don’t see myself ever wearing them again. It isn’t because of any issue I have with him, but more because the chain (which I loved when I got it) pulls the hairs on the back of my neck. It always has, and I wore it for about a year before I stopped wearing it completely. It has been in a box ever since- about 19 years. The other piece I’ve had about 17 years, and since the prices of gold are so high right now, I’m strongly considering selling it.

I have read all about how to figure the current market prices on gold (based on the particular karat weight) and what I should expect to receive per gram if I do decide to sell. I’ve found several companies in our area, but the one thing I want to do BEFORE I actually go to their store is use a small scale and find out the exact grams and go from there. I want to KNOW the approximate weight before walking in the store. In other words- I want to make sure I don’t go in blind. I’m not desperate for money, but figured that the cash would be a nice begin for my ‘new furniture’ fund that I’m starting. We probably won’t buy until later in the year, but I want to start saving now.

I’m curious if any of you have ever sold gold and how that worked out for you? Inquiring minds want to know.

4 Responses to “Going After the Gold”

  1. Beth Broom says:

    I thought about selling some of mine because I also have tons that I never wear anywhere and is just taking up space in my box. I think it’s a good idea that you’ve read up on it so you don’t get ripped off. Maybe I should read up on it too. Let me know if you do decide to do it and how it turns out!

  2. admin says:

    Beth I’m seriously considering it. In fact, if I can get an accurate scale to find out how much it weighs before hand and know within a few dollars of how much I should expect to receive, then I’ll definitely do it.

    There is a site-that shows the going rate and also how to calculate what you should be receiving per gram depending on the type of gold. They say that those who buy it usually take abou 10-15 off the top of the total price per troy ounce, which wouldn’t be bad. I found a company that showed their prices online, so I’m curious- They are about an hour away though, so I’m hoping to find something closer. I’ll keep you posted,

  3. Missy Shaw says:

    About a year ago around the Jackson County area there were alot of Jewerly parties. You brought your odds and ends even broken jewlery. If you had stones in them they would take them out for you. They did silver and gold. A person came and they had a scale and did a test on the jewlery to make sure it was real. I had a zip lock of like 1 ear ring, broken necklaces and such. I ended up having $400 worth and they paid you in cash right then.

  4. admin says:

    Missy, Thanks for stopping by and also for sharing your experience. I have one of those really thick herringbone chains that everyone wore back in the day.

    I’m going to try it and I figure if the price isn’t right I can walk away. Sounds like you did well. I remember those parties. I wonder if they still do those? Something to check into. Thanks for the idea.

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