925 bracelet from garage sale for 25c

At a garage sale today, I was looking through some jewelery and got out the loupe for a bracelet. A guy helping to work it said there was nothing valuable, just costume jewelery. Then I saw the sterling stamped and the 925 stamp. Marked 50c I asked if they would take 25c and they said OK. .7 oz on the postal scale!

 

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Also bought a cast iron pot for melting metals for $5 at anaother sale.

 

= .638 troy oz. = .5902 ASW = ~$8.76 at market close today. Not a bad return on a quarter investment!

 

"Marked 50c I asked if they would take 25c"

Nice.

 

Oh man, that cast iron post looks in rough shape. Can't wait to see what you cook up in that thing! Nice grab on the bracelet.

 

I like that crucible

 

Borgovan-the guy was kind of a jerk and he was the one who told me nothing was valuable.
The crucible had something that was melted in it before. I don't think it was lead, cause it's not soft. I will break out a chunk and see what the detector says. Probably on Sunday.

 

Nice find !!

My uncle Skip told me a story once. At a garage sale, he spotted a " brass " cigarette table lighter for $20. He offered the guy $15. When the guy picked it up and looked at it, he saw the 14K stamp......Skip guesses the lighter weighed at least 7 ounces

Ouch, sometimes bargaining is not so good, lol.

 

dang, nice find.

 

This reminds me of a LONG and CONTENTIOUS thread a few months ago about whether it was ethical for bank tellers to not tell depositors of silver coins their coins are worth more than face (and then cash out the coins themselves for face value).

Is it ethical to knowingly buy a silver bracelet from a clueless seller for 1/35 of its melt value?

 

It depends if it's an old lady or not.

 

I posted a thread in general discussion, about this purchase here - http://www.cointalk.com/forum/t56785/#post613824
to discuss the obligation some might feel I may have had to inform the seller.

 

Was the old lady wheeled up in a wheelchair pushed by her cancer stricken grandchildren, or did she walk in all sassy like Joan Rivers with a Limo waiting outside.......it does matter yannow:rolling:

How do you treat an old lady with a coin collection to sell.

CT ethics 101 here gang.

he he he

 

The first thing to do is see if you can sell the bracelet and note what you get for it. There are a lot of counterfeit 925 stamps on some imported jewelry. It really needs to be tested before declaring it a bargain purchase. It isn't clear yet that the buyer knew more than the seller.

 

Well done!

I remember that...I think that was the time when a handful of members here decided they wanted to crucify me.

 

Great deal man :thumb:......The iron pot remind me of my spice grinder at home.

 

Hey look at the bright sight....you'll remain immortal in everyone's memory whenever someone post their cherry pickin finds.

 

If someone asks you "how much is this worth," and you offer $15 knowing it is worth $100, it's basically a combination of lying and theft. I think the same goes for situations where it is obvious the seller just doesn't understand the situation such as the classic story of the little old lady disposing of her late husband's collection.

If a bank teller accepts silver coins at face value, they certainly have an ethical responsibility to tell the customer. Whether it is theft or not depends on the bank policy about employees cashing out coins with bullion or numismatic values above face value.

If someone holds themselves out as a dealer in goods, whether at a store front, flea market or garage sale, they have a responsibility to know what they are selling and what the market will pay, and I have less of a problem with that.

Ethics is a pretty old fashioned concept. My observation is that the younger a person is, the fewer ethics they have, so I guess it has to do with the schools and parenting.

 

Hey, it's nice to be remembered.

 

A bank teller's job is to exchange cash for face value...not appraise the non-face value of a coin. Let's not hijack this thread with this topic.