How much is 5.5gr of 14kt gold worth?

[TangoJuliet]

OK OK I know I am going to get slammed here but I had gotten a 14k gold bracelet as a parting gift from my last job. It has been sitting in my desk drawer for the past 3 years collecting dust. I have no intention of wearing it and decided to send it away to one of those cash for gold places. I had figured it wasn't really worth anything - maybe $20 so what the hell.

I got my offer yesterday and it was for around $75. Now I am thinking its probably worth more then that as these CfG places probably give low ball offers. I can always just reject their offer and have them mail it back to me. I can then go to a local jeweler and see what they can offer me.

If the bracelet is only worth a couple dollars more then its more of a hassle to go out and try and get better offers as I don't have a lot of time/energy to go driving all around town.

From the report it says that the bracelet weighs 5.5 grams and is 14kt gold. Any ideas on how much its worth? Thanks!

edited

 

[olds]

42

 

[amdhunter]

About three fiddy.

 

[spidey07]

It's not 5.5 oz of gold. It's gold plated.

5.5 * 1000 bucks an ounce = 5500 bucks for 24kt. 14/24*5500 = $3200 bucks

 

[TangoJuliet]

It's not 5.5 oz of gold. It's gold plated.

5.5 * 1000 bucks an ounce = 5500 bucks for 24kt. 14/24*5500 = $3200 bucks

ok so 5.5oz of gold plated jewelry is worth 3200??

 

[Jadow]

14k gold is 58.33% gold

gold = 1150 per oz

x 5.5 oz
=
$3689

are you sure it's 5.5 oz? that would be the heaviest bracelet i ever heard of

 

[spidey07]

ok so 5.5oz of gold plated jewelry is worth 3200??

No, if it was solid 14kt gold it would be around 3200. I doubt your job gave you a solid gold 5.5 oz bracelet as it would be very expensive.

 

[FoBoT]

don't mail it to them
go to a pawn shop

 

[spidey07]

14k gold is 58.33% gold

gold = 1150 per oz

x 5.5 oz
=
$3689

are you sure it's 5.5 oz? that would be the heaviest bracelet i ever heard of

I pity da fool who never seen a 5.5 oz gold bracelet. Those tiny things are for chumps, sucka!

/Mr T.

 

[trmiv]

don't mail it to them
go to a pawn shop

Sounds like OP already did.

 

[keird]

Unfortunately, you'll never get anywhere close to that price using those cash-4-gold scams. That company made money when you sent them your valuables. You'll have to pay an exorbitant "shipping" fee to get your stuff back.

 

[TangoJuliet]

14k gold is 58.33% gold

gold = 1150 per oz

x 5.5 oz
=
$3689

are you sure it's 5.5 oz? that would be the heaviest bracelet i ever heard of

I didn't weight it before I shipped it out. The offer letter just had the amount ($75) and next to it said 14kt, 5.5 I was assuming it meant ounces but maybe it meant the length?? I'm not sure.

If I decline the offer then the will ship it back to me at no cost. I was really just curious to see how much it was worth without having to go all around town.

 

[Vageetasjn]

14k gold is 58.33% gold

gold = 1150 per oz

x 5.5 oz
=
$3689

are you sure it's 5.5 oz? that would be the heaviest bracelet i ever heard of

That's my analysis as well, but keep in mind the industry standard of troy ounces for gold (31 grams per ounce of gold?). Find out the bracelet's actual gold purity and weight. But don't have it appraised by the same person you sell it to.

edit: the 5.5 may have been the width in mm.

 

[FoBoT]

5.5 is probably grams, not oz
Conversion : 1 gram = 0.0321507466 troy ounces
gold is $37 per gram
if 14kt is 58%
then you have $118 worth of gold, they are offering you $75, sounds about right
but i would go to a pawn shop

 

[GuitarDaddy]

5.5 is probably grams, not oz
Conversion : 1 gram = 0.0321507466 troy ounces
gold is $37 per gram
if 14kt is 58%
then you have $118 worth of gold, they are offering you $75, sounds about right
but i would go to a pawn shop

This

 

[TangoJuliet]

5.5 is probably grams, not oz
Conversion : 1 gram = 0.0321507466 troy ounces
gold is $37 per gram
if 14kt is 58%
then you have $118 worth of gold, they are offering you $75, sounds about right
but i would go to a pawn shop

Thanks! I'll reject their offer and see if I can get a better price locally.

 

[vailr]

Sell it on eBay.

 

[TangoJuliet]

Update

Well, I declined the offer the other day. Got an email back saying that the bracelet would be shipped back to me. I didn't have to pay any shipping fees back or anything. I got the bracelet back today (was shipped USPS priority with signature) and I now plan on going to a couple dealers to see what I can get.

I figure its worth around $118-125 I was only going to get $75 from CfG then I can get about $40-50 more locally. Lets just hope that I dont get the same then it was just a big waste of time and gas.

 

[olds]

I saw on some TV investigative show that if you reject the first offer and ask for the item back that they will raise the offer.

 

[JS80]

I doubt you will get more than $75 from anyone.

 

[krylon]

lol all this drama over a free gift not even worth a benjamin

women.

 

[GodlessAstronomer]

Why is everyone talking about 5.5oz when the OP says grams?

 

[HardcoreRobot]

Why is everyone talking about 5.5oz when the OP says grams?

op original read 5.5oz

 

[Meghan54]

Instead of dragging the bracelet around, simply call around and ask how much you will be paid for one pennyweight of 14 karat gold jewelry and compare prices. Really simple.

 

[TangoJuliet]

Sold it for $125 locally. So got additional $50 by not selling to cash for gold. Thanks everyone!