How to sell a gold ring

Yes KP usually means Karat Plumb. I lot of people look at that marking and try and argue that it means it's Gold Plated. However I always recommend having items acid tested if your unsure about the markings. And Beware...Necklaces, Bracelets that are marked 14K in only one place are almost always FAKE.

 

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One other thing to know is how much your local dealer pays for scrap gold and silver. My dealer thought me his formula for buying gold a long time ago so I know exactly how much he would pay for something. Many places that advertise that they buy gold would offer you much less.

 

I dunno... the ring "looks" to be 2.5g. If you were able to find someone willing to pay you 100% melt for scrap 14k, you're looking at $59.54. If you account for a 15% scrap haircut, you're looking at $50 and change. If you're looking at a Cash4Gold type haircut, you fall to the $33 neighborhood.

Age of the ring doesn't really matter, since there's no real design to it. It's a basic ring.

 

And as you can see a major drop in spot gold price can wipe out your profit. Try and find someone who's looking for a ring...I wouldn't try and scrap this. Just MHO

 

Gee, well you're right. Comes in at 2 grams

I won't even be getting what I put into it out of it... Scrap calculation puts it right at 45 ish bucks.

Now I just gotta wait till gold hits $1600 an ounce...

Off to craigslist again to re-peddle it!

 

Full gold content is currently $46.38 Scrap value is around $42. But the good point is if someone tried to buy that in a jewelry store it would run them around $100.
Buy yourself a scale. You can get a accurate digital scale for under $20. It's worth the investment

 

Ready?!?! FIRE!!!!!

OH WAIT!!! WAIT!!! AIM!!! WE FORGOT TO AIM!!!

 

That "accepting responsibility for your actions" bullet hit me right in the feels... and the wallet...

 

You can get an accurate digital scale off eBay for $4-$6. Get one of the Chinese ones that take AAA batteries.

 

You live and you learn. I've lost a lot of money on random investments that I figured would be the "big one". I'm such a sucker

 

Yep, we all live and learn. Better luck, I mean better research next time.

 

Yeah, you ain't alone by any means. It takes something like this to appreciate the homework. Be thankful it wasn't a big loss and you learned a lot. I had a few learning experiences.

This one time at Pawn Star camp, I....

 

I sold 3 diamond wedding rings and 2 bands this last month. Not everyone wants one, but a lot seem to!

 

The used rings are acceptable to all.

You just say "it was left to me by my mother/grandmother/aunt "(depending on who is in fact dead) and the old ring gets some extra sentimental value as well as being far less of a waste of money. Mother adds the most clout, but if she is not actually dead it's probably not worth offing her just to pull the girl.

The real appeal of 'inherited from my mother' may be the prospect of no Mother in Law.

 

Best line ever?!

 

That is kinda cheesy. Some do that, but I bet when people come across it - they pretty much know it's a lie. At least I do.

 

You can always say it was found inside a pumpkin when you took the seeds out

 

I didn't expect this, but this girl I was seeing asked me to sell some sterling jewelry. I never sold it, and then she not only left, but also left her silver. So now I'm stuck with a gold ring and some silver that I have no idea how to get rid of.

I guess we'll call it an "investment in the future" or something, when fiat currency finally dies and the only way to get radiation-free food is by trading gold rings and such...

 

From what I have read and heard, gold and silver will be worthless then