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Ah I see... that would be perfect for me. I may just go there and see how much I can get. Then come back later and decide on what the best price for the items are / is. Thank you so much for your help.
Originally posted by trustnothing
unless its different in the US you sell the goods for say 100, they will give you an option to but them back at interest say 130 within 30 days, you do not have to, so yes you can take the money and leave.
Ah see I just plan to make some extra money for me to save and go shopping for. Your probably right that I should go to a gold dealer / ect. I do know of one near my house where I can take the "VALUABLE." jewelery and they also buy. Plus I'd rather someone get some use out of these earrings / gems. My mom is on a bi polar winter cleaning spree and if she doesn't want it well might as well me sell it LOL Thanks for your help.
Originally posted by DrumsRfun
reply to post by Rishiana
If you don't want to be ripped off then don't go to a pawn shop.
I would find a fair gold dealer or someone who deals in jewellery.
Pawn shops are looking for deals...they are not in the business of giving you the value of an item which you could get elsewhere.
Thats why they do so well...they buy low and sell high.
All you have to do is pawn it and not go back and you walk away with the money...thats it.
(I don't suggest it but your choice is your choice)edit on 9-12-2011 by DrumsRfun because: (no reason given)
Ah I would rather sell it actually.... and yeah I will go looking around today if my friend doesn't mind taking me all over the place on our girls day out today. Thanks for your help.
Originally posted by Mapkar
reply to post by Rishiana
You can sell to a pawn shop, meaning they will sell it too. Or you can pawn it, meaning it's collateral for a loan.
Depending on the shop, you will usually get offered a fair price although don't expect to make full retail on it. For example, if you have a ring that's valued at $100, you can expect to get between $40-60 at a shop with a nice owner. I know a few shop owners in my town and they're pretty good about offers and would probably offer $55-70 for the ring In this example.
That being said, it's really likely that you'll walk in and they're going to throw a very low offer at you. Remember that you can take the stuff elsewhere, you don't have to give in to their offers. And remember, a pawn shop isn't your only option! There are other places to sell, but they vary from place to place and you'll need to look around.
Determine the current price of gold. You can find this by searching the Internet or looking it up in your local newspaper. Gold is valued per troy ounce, with a troy ounce equaling 31.1 grams. The price of gold fluctuates hourly according to supply and demand, so the price may be very different in the afternoon from the price you saw in the morning.
It is best to use the Internet for updates, which you can even do while standing at the gold buyer’s counter by using your cell phone’s Internet access capabilities.
Divide today's gold price in dollars per ounce by 31.1 to get today's gold price per gram. For example, if today’s price per ounce is USD$1,600, then today’s price per gram is USD$51.45 (USD$1,600/31.1).
Multiply by the fineness of the gold. For each group of gold, divide the karat by 24, then multiply that number by today's gold price per gram. For example, if you have 10K gold and the current price of gold is USD$1,600 per ounce, or USD$51.45 per gram ($1,600/31.1), then the price of your scrap gold is USD$51.45 x .4167 = USD$21.44 per gram.
10k = 10/24 = .4167
14k = 14/24 = .5833
18k = 18/24 = .750
22k = 22/24 = .9167
Multiply the price per gram by the weight in grams. If you have 10 grams of 10K gold and you calculated the price at USD$21.44 per gram, then your scrap gold is worth 10 x USD$21.44 = USD$214.40. Some examples:
If you have 5 grams of 14K scrap and gold is USD$1,600.00 today, then USD$1,600 divided by 31.1 would equal USD$51.45. That figure, multiplied by .5833 (14K) comes out to USD$30.01 per gram. USD$30.01 multiplied by 5 grams equals USD$150.05.
If you have 15.3 grams of 10K gold scrap, USD$1,600 divided by 31.1 equals USD$51.45, and that amount multiplied by .4167 (10K) equals USD$21.44 per gram. USD$21.44 multiplied by 15.3 grams equals USD$328.02.
Most people use grams for these calculations but some gold buyers use pennyweight (DWT) instead of grams. There are 20 pennyweights in a troy ounce. You can substitute 20 for 31.1 to calculate pennyweight in our formula. You can also multiply a pennyweight by 1.555 to get an equivalent gram weight or divide a gram weight by the same 1.555 to get pennyweight.
Yeah your right. I think I will go to a gold / jewel dealer and see what they say and how much I should get. I may end up just selling the plastic stuff at a pawn shop though. Because its relatively worthless.
Originally posted by redbarron626
1st take your jewelry to a reputable jeweler and get an appraisal. These are usually free or very inexpensive.
2nd do NOT sell your stuff to a pawn shop! They are in business to make money, not to help you out.
look online for gold dealers(or scrap dealers) to sell any precious metals. You will get more money that way.
The gemstones may be worth something to a jeweler who will use them for future projects,
Take a few minutes and call around. In the end you might actually get what the jewelry is worth.