I own and run 2 pawn shops, I deal in gold all day long and have done this for the last 38 years. I will assume that I have seen more gold and gold plated items than most people. You can not convince me of the properties of gold and that this ring is anything but plated. I am not a weekend warrior with a acid gold test kit in my basement. I do this all day long.
Do you get a lot of old gold that comes in, that is found in the saltwater?
Great ! This is the best news I've read all year. Because you are honest , a forum member and way more fair than other pawn shops , I'm now going to sell you all my gold. You might want to be a sponsor even. So are you going to pay 92%+ of spot ? We are going to need all your details.
I can not say that I have seen alot of gold from saltwater, but I have seen lots of gold. Every day I have to sort through peoples jewelry marked and unmarked looking for it. I would consider myself an expert in spotting gold. I am not looking to drum up business, I am merely giving my opinion of this particular ring.
I have quoted close to spot on certain things, demands on the item or items. I do try to be fair in all my business, but in the long run, I am here to make money. There is no sense in me buying a gold coin or 10, tie up thousands of dollars to make $6 a coin. I have enough business that I do not need to make transactions like this. Mostly what I do is scrap and I would currently be willing to pay $50 a dwt. and up for clean 14k scrap items.
And that's what you're missing here. If an item is plated the base metal corrodes and sheds its plating. Look at the picture, the ring starts off covered in corrosion, the corrosion comes off to reveal gold. I've put rings like this over xrf plenty of times. I sold an 18k ring a few weeks ago that started off totally covered in patina.
Of course the core is not going to be "solid" 10k. It will be a mixture of the various alloys used in making of the ring. The only true way in determining 100% the purity of a gold ring is by melt & assay. Even the high karat that is stamped as such , you really don't know. Sure we can look at a 999 stamp ring and pretty much know from experience. But my XRF guy got burned on a heavy plated 10oz gold bar. It was an expensive lesson. I have found many old rings that bleed out the impurities over time. Some with brilliant and unusual color , such as a deep red gold or the awesome "butter" gold. I will say that stamp on this ring in question appears it might of said H.G.E...But LJ shows a test. And brass could test out that way as Craig mentioned before.
It's clearly not stamped HGE, but even so called HGE will corrode in a short time in the sea. Plating is just for looks not for protection.
If it is not marked HGE then show some better pictures of the markings. I do not disagree with you about the plating is there for appearance so polish that thing up and let the gold shine!!
I just saw this..... You had to bring up my 1923 school ring again huh?Yep, they have us under a barrel and what hurts is when you send in or sell a good bit..it adds up even if it is one k less.
I Agree....... I have one gold ring I found that was rusty.. I've found them pure black. It has a lot to do with the surrounds, gold can stain and break down just like any other metal if it has impurities other then gold.
Craig will can attest to that.. He showed me a old gold class ring he had just found in the salt water, with my big paws I broke it up in several pieces it was so fragile.
Like to be able to read the letters before E9CT.. that may shed some light on what it is also..
You made it easy to scrap instead of going into my collection of old interesting rings...Don't feel bad Joe...PI JOE did the same thing with a old school ring I found... but that one was even worse all green... he pushed on band it shattered and he was able to find the tiny pieces encrusted with sand bleeding out copper..
He must have a very strong handshake.I just saw this..... You had to bring up my 1923 school ring again huh?
This ring does not appear to have been 10kt gold.
Congrats on the gold!
It's 9ct, and that makes a big difference in the longevity of the piece. Here we use the old UK standard of 9ct for cheap stuff and 18ct for expensive things. 22ct if you're rich.
heh, I did but the point is to generate discussion and get pirates to double check those junkers. Sometimes it's gold and I'd hate to see any gold thrown out.I'm pretty sure you knew the answer before you posted
