How much is 5.5gr of 14kt gold worth?

Discussion in 'Off Topic' started by TangoJuliet, Jan 12, 2010.

  1. TangoJuliet

    TangoJuliet Diamond Member

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    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
     
    #1 TangoJuliet, Jan 12, 2010
    Last edited: Jan 15, 2010
  2. olds

    olds Elite Member

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  3. amdhunter

    amdhunter Lifer

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    About three fiddy.
     
  4. spidey07

    spidey07 No Lifer

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    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
     
  5. TangoJuliet

    TangoJuliet Diamond Member

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

    Jadow Diamond Member

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    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
     
  7. spidey07

    spidey07 No Lifer

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    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.
     
  8. FoBoT

    FoBoT No Lifer

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    don't mail it to them
    go to a pawn shop
     
  9. spidey07

    spidey07 No Lifer

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

    /Mr T.
     
  10. trmiv

    trmiv Lifer

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    Sounds like OP already did.
     
  11. keird

    keird Diamond Member

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    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.
     
  12. TangoJuliet

    TangoJuliet Diamond Member

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    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.
     
  13. Vageetasjn

    Vageetasjn Senior member

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    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.
     
  14. FoBoT

    FoBoT No Lifer

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    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
     
  15. GuitarDaddy

    GuitarDaddy Lifer

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    This
     
  16. TangoJuliet

    TangoJuliet Diamond Member

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

    vailr Diamond Member

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    Sell it on eBay.
     
  18. TangoJuliet

    TangoJuliet Diamond Member

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    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.
     
  19. olds

    olds Elite Member

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    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.
     
  20. JS80

    JS80 Lifer

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

    krylon Diamond Member

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

    women.
     
  22. GodlessAstronomer

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

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    op original read 5.5oz
     
  24. Meghan54

    Meghan54 Diamond Member

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    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.
     
  25. TangoJuliet

    TangoJuliet Diamond Member

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