dewcon
Quality Control Expert
Well lets see if you guys can enlighten me and others. It seems a lot of people feel they get cheated when selling gold ..... and some do and dont realize it. Heres a few things to consider when selling.....
Are they buying in pennyweight vs grams? most jewelers do. Pennyweight is 1 to 1.5 grams or DWT. So set your scales correctly.... because you are loosing weight.
Most also pay in troy ounces NOT ounces. There are 20 pennyweight to a troy ounce... where as there is 18.23 penny weight to an ounce..... and there are 28.35 grams to an ounce.
Other metals in the jewelry mater...... as does prongs, settings, springs in hasps. 14k means only 58.3 of that ring is gold...... and some of that maybe lost during smelting.
When it says $1500 per ounce...... remember that 1 troy ounce equals 1.097 ounces.
Unknown, fake, or plated gold......thats a real guess by us and it may end up none of its worth much..... or at least what we thought
You maybe asked do you want us to melt it by K or bulk? by K they offer less because they say it takes longer to test each. BUT.... if im correct that doesnt matter...... the end product is 24K which is weighed and you get paid for. However.....you can do the weight by K on a good scale...it’s a little more difficult if you allow a total weight melt....you may not realize you only got 12k.
I read an article on the CASH FOR GOLD place. The offer a good bit less..... why they make a profit only on the gold THEY melt by the way. Unlike jewelry stores and pawn shops dont attempt to resale. If they are really doing that and dont resale certain gold pieces they are pretty stupid..... or they think we are.
So its not as simple as putting it on the scale and thinking you got cheated without knowing their process. Any thing im missing?
Are they buying in pennyweight vs grams? most jewelers do. Pennyweight is 1 to 1.5 grams or DWT. So set your scales correctly.... because you are loosing weight.
Most also pay in troy ounces NOT ounces. There are 20 pennyweight to a troy ounce... where as there is 18.23 penny weight to an ounce..... and there are 28.35 grams to an ounce.
Other metals in the jewelry mater...... as does prongs, settings, springs in hasps. 14k means only 58.3 of that ring is gold...... and some of that maybe lost during smelting.
When it says $1500 per ounce...... remember that 1 troy ounce equals 1.097 ounces.
Unknown, fake, or plated gold......thats a real guess by us and it may end up none of its worth much..... or at least what we thought
You maybe asked do you want us to melt it by K or bulk? by K they offer less because they say it takes longer to test each. BUT.... if im correct that doesnt matter...... the end product is 24K which is weighed and you get paid for. However.....you can do the weight by K on a good scale...it’s a little more difficult if you allow a total weight melt....you may not realize you only got 12k.
I read an article on the CASH FOR GOLD place. The offer a good bit less..... why they make a profit only on the gold THEY melt by the way. Unlike jewelry stores and pawn shops dont attempt to resale. If they are really doing that and dont resale certain gold pieces they are pretty stupid..... or they think we are.
So its not as simple as putting it on the scale and thinking you got cheated without knowing their process. Any thing im missing?
Last edited:
