A couple of years back, I was going to sell my scrap gold before Christmas, but I was not in love with the estimate I was given. Today, as I have recently changed gears on my life and am trying to get the coupon page up and running, and go forth with being self employed, I figured now was a good time for cashing in the gold. Pure gold is at about $1,875 oz. today. So if you have mismatched 14k sitting around, you will get about half. BUT BEWARE!!
This morning I made a couple local calls. I will not mention names, but one gentleman was going to pay me $24 per “penny weight”. This is an equation that uses the carat of the items, and you have to multiply this and divide that. Bottom line, if any dealer pays you in penny weight, it does not necessarily reflect the daily price of gold per oz. If I had taken him up on it, I would have made about $250. Good thing I know people. I was paid based on today’s rate, which is to say that all my 14k gold necklaces that are 20 years old and missing clasps, and lost earrings, and rings with stones missing amounted to (drum roll please...) $1,090!!!!!
It is the same theory as buying a car. If you want to buy a new or especially used car, bring a grease monkey. If you are selling gold, do the research on the current standard. I almost cried when I found out how badly I could have been taken advantage of. Thank you good Karma for entering my life today. And now I want to spread the word to you.
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