Where does one go to sell GOLD!

[jpeyton]

Craigslist

 

[compman25]

zanejohnson has connections.

 

[uhohs]

WoW

 

[ponyo]

Originally posted by: boomerang

Originally posted by: V00DOO

Originally posted by: boomerang
See if there is a precious metals broker in the area. You'll get a fair price minus their discount, which is usually a reasonable amount.

Remember, the price you're seeing is for pure gold. Your necklace is not pure gold. You may be disappointed.

I thought 24Karat is pure gold.

It's 24K gold plated would be my guess. As was said, 24K gold is too soft for jewelry.

No, it's soft but it's still used for jewelery. You guys haven't seen 24k gold bars or gold coins? In Asia, 24k gold is lot more common. My wife and I got 24k rings made for us in Korea back in 2000 when gold was like $300 an ounce. She also has 24k gold necklace. I should've bought lot more stuff back then.

Her sister received all her wedding jewelry in 24k gold. About $10k worth back in 2000. That's worth around $30k now. I should've done the same with my wife. I gave her all in diamonds and sapphire which cost lot more back then.

 

[Auric]

How much do it weigh and is there any added value via craftsmanship or provenance? I am guessing no. In which case, how much could it possibly be worth regardless of the currently inflated price since it is likely 1) fractionally pure 2) not particulary large.

I mean, it would have to be really pimpalicious in magnitude to really be worth much. Still, if you don't want it then anything is better than it cluttering up ze place.

 

[V00DOO]

Originally posted by: Auric
How much do it weigh and is there any added value via craftsmanship or provenance? I am guessing no. In which case, how much could it possibly be worth regardless of the currently inflated price since it is likely 1) fractionally pure 2) not particulary large.

I mean, it would have to be really pimpalicious in magnitude to really be worth much. Still, if you don't want it then anything is better than it cluttering up ze place.

It weights about 2 ounces. It's not gold plated! Like Naustica said, 24K gold necklaces are very common in Asia. There isn't any added value being in a necklace form. The Jeweler will probably melt down the gold and molded into something else. I can goto most Asian Jeweler and probably get maybe $800 an ounce with the current market price closing today at $897.70.

 

[Bootprint]

Toronto's Oliver Jewellery

 

[eleison]

My parents have 25lbs worth of 24k gold... I told it was a stupid idea to buy gold... I was soo wrong.. They always went to chinatown/vietnamess town to buy gold.. asked them why they never sold any of it they said it was bad luck..

 

[Auric]

Originally posted by: eleison
My parents have 25lbs worth of 24k gold... I told it was a stupid idea to buy gold... I was soo wrong.. They always went to chinatown/vietnamess town to buy gold.. asked them why they never sold any of it they said it was bad luck..

Okay, so perhaps it wasn't a stoopid idea to buy it (although still a relatively meh investment) but it is a stoopid idea not to sell it. Otherwise what's the point in buying, particularly when just setting themselves up for "bad luck". Clazy.

 

[marvdmartian]

OP, check to see if there's a goldsmith in your area. When I lived in Guam, we had a guy on island that did that, along with making custom jewelry. He'd usually buy gold outright for less than the going rate, then sell at whatever the going rate was (pretty much how he made his profit).
As far as selling it at the going rate, good luck with that. Seems to me that anyone paying you that would be setting themselves up for a potential loss, since the price could go down (and is far more likely to do that than to go much higher, imho).

Oh yeah, and people that tell me to invest in gold always kill me with their logic. Buy at $300, sell at $600, you've doubled your money! (they tell me). Yeah, I tell them, but your money's usually worth 1/2 as much when gold's at the $600 price, isn't it? Yeah, but you've got twice as much!!! :roll:

 

[compman25]

Originally posted by: marvdmartian
OP, check to see if there's a goldsmith in your area. When I lived in Guam, we had a guy on island that did that, along with making custom jewelry. He'd usually buy gold outright for less than the going rate, then sell at whatever the going rate was (pretty much how he made his profit).
As far as selling it at the going rate, good luck with that. Seems to me that anyone paying you that would be setting themselves up for a potential loss, since the price could go down (and is far more likely to do that than to go much higher, imho).

Oh yeah, and people that tell me to invest in gold always kill me with their logic. Buy at $300, sell at $600, you've doubled your money! (they tell me). Yeah, I tell them, but your money's usually worth 1/2 as much when gold's at the $600 price, isn't it? Yeah, but you've got twice as much!!! :roll:

So are you saying buy at $300 and let it climb to $600, don't sell, let it go back to $300 and sell so you have the same amount of money worth the same as when you bought it? Or are you saying buy it and never sell it because your money will never be worth the same as when you bought it? Do you invest in anything? What if I bought company A stock 10yrs ago at $20 a share, and now it's going for $200 a share, should I not sell it because the dollar isn't worth the same as it was?

 

[Slew Foot]

Asian hording is one reason why gold is going up. As Chindia gets more wealthy, they buy more and more gold for cultural reasons. My wife and I parents' both have large storages of gold that they bought at various times, they gave us a bunch at our wedding.

 

[Alistar7]

Silver > gold for investment purposes......

 

[CPA]

Originally posted by: cherrytwist

Originally posted by: CPA
With gold prices this high, I wonder if my wife would be adverse to us selling our wedding rings....

Great idea.

Try it and post results here.

If you survive...

Wife is cool with the idea and seeing as 2 karat wedding rings are going for 4-6k, it might not be a bad idea.