Myers Depot Metal Detectors

About Selling Gold

LostNowFound

LostNowFound

Senior Member
Joined
Feb 16, 2011
Messages
336
Location
Northern New Jersey
Here is some info about selling gold jewerly. This info was taken from an online article at MarketWatch.com.

When it comes to selling that old jewelry for its gold, TFNN.com’s O’Brien said the client should be getting about 80% of the melt value.

“The majority of dealers give way below that level because the public just doesn’t understand what they have is valuable,” he said. But “a very small amount of gold is worth big dollars. It doesn’t matter what shape it’s in.”
 
Thanks for the post. Hope to be selling some soon myself. Everyone here says go to ARA. They give 95% melt value I believe.
 
I always wondered how these melting surges affected coin prices.

If everyone is melting their coins are not such coins becoming more rare and thus more valuable.

Coin prices are strictly based on supply and demand. If coins are going to the melting pot, then supply drops -- and of course prices rise.
 
It is just junk silver coins being melted, not the collectibles. More gold jewelry than coins too.... people tend to hold onto gold coins. RickO
 
LostNowFound said:
Here is some info about selling gold jewerly. This info was taken from an online article at MarketWatch.com.

When it comes to selling that old jewelry for its gold, TFNN.com’s O’Brien said the client should be getting about 80% of the melt value.

“The majority of dealers give way below that level because the public just doesn’t understand what they have is valuable,” he said. But “a very small amount of gold is worth big dollars. It doesn’t matter what shape it’s in.”
Click to expand...

Those of us in the hobby know that going direct to a refiner like ARA, gets you the best price on your melt. ;)
 
As far as the values of coins, who knows how this will effect collector coin values...there is no way of knowing how many of which types of coins are being melted....I'm sure alot of lower grade, but otherwise collectible coins are being melted...There just is no way to watch what's happening and speculate on one type becoming more rare because of the massive melt happening now....
And it's not just silver that's going for melt, i know of a 20 dollar gold piece that was sent for melt here....
 
I had a friend who collected nothing but 1977 pennies.

His logic was he would eventually have such a monopoly the worthless coin would become rare and then valuable.

I always thought he was joking but he did have a large jar full of nothing but 1977 pennies!:lol:
 
Unless he has DEEP pockets and collects all of them that's not a winning strategy...there are over 8 billion of them...
 
rocknrolldad55 said:
The ring i just found weighs 1/4 ounce. It is 14k white gold i believe. How much could i expect to get for melt value
Click to expand...

At ARA>>>>>$214.63 less 2% ($4.30) = $210.33. If you send it out and add in postage and Insurance that will decrease the total by maybe $15.00 w/registered mail depending how it is sent! (figured at 7.7 grams!)
 
ARAs website recommends registered mail, but that's pretty pricey. I use a flat rate priority mail box, insured for the proper amount (maybe 5% extra) and if the insurance is more than $200 like yours would be, the delivery confirmation is automatic. Just be sure to save ALL the receipts the post office gives you. Not having all the receipts could result in any claim for loss being denied.

Dusty
 
Jax

nice site thanks... I have more silver than I thought.. ...

Hello ARA ??? Yes can you turn my silver into an AT PRO? thanks....
 
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