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The Kitchen Table

TV article about selling old gold jewelry

16 years ago

There was a very interesting item on our local ABC affiliate last Fri about selling old gold jewelry. Seems gold prices are at an all time high of $818 an ounce. In the video they took in broken gold chains, old rings etc. and got a check for $600 plus!!! Hope this link works.

Here is a link that might be useful: Sell your gold (scroll to bottom & click)

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Comments (9)

Chemocurl zn5b/6a Indiana
16 years ago
Yes...you send them your gold, and then they keep it and pay you what they 'think' it is worth.

I'd never do that, but instead would find someone who would buy it more locally. I'd start by contacting small local jewelers. If I had scrap gold/jewelry, I'd certainly not send it off to some stranger and then just have to accept what they paid.

Sue
softball_80
Original Author
16 years ago
I would sell it locally also. I was not implying you should send it here or anywhere. I just found it interesting.

My wife has a jewelry case drawer full of broken gold chains & rings that don't fit anymore; gold just isn't something you throw away. I think we'll be taking a little trip down to jeweler's row over the Christmas (said it again!) holidays.
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Necia, that's a great idea! For DD's 16th birthday in March, we had a ring made for her with her birthstone, aquamarine, flanked on either side by DH's & my birthstones, both amethysts . . . meaning that she'll always be between our hearts forever. As for high school class rings . . . what a HUGE waste of money, IMO!! As the oldest in my family, I got one and wore it my junior and senior year . . . and never wore it again! Heck, the last thing I wanted as a college freshman was to be seen wearing a high school class ring! I talked my next in line sis into getting a nice birthstone ring instead. From then on, my four sisters all got beautiful birthstone rings and my 4 brothers got gorgeous gold signet rings. All still wear them ~ and love them ~ today, many, many years later . . . while I have this over-priced high school class ring that I never wear, sitting in my jewelry box . . . and no jeweler wants to buy some 10K, dated, nothing ring! Our now 25 y/o DS wouldn't listen to my "sage" advice and insisted he had to have a class ring. How long did he wear it???? TWO years, until he headed off to college!!! He's never worn it again . . . and probably has no idea where it is now! My 16 y/o is more wise, though; she's learned from all this and is already designing her own graduation ring . . . an emerald cut aquamarine flanked by two diamonds. Smart girl! Lynn
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Good (but used) gold jewelry that is 14K or 18K *is* called scrap jewelry, unless it is a rare family heirloom. If I have a gold chain I don't want anymore, I throw it in scrap, even though it may be perfectly good. (Just so 80s, or too long, etc.) To jewelers, the only value is the gold value. It is all called 'scrap'. Used jewelry is generally scrap jewelry. Being in the business for over 30 years, we also saw that story on CNN. DH and I totally disagreed with CNN's advice. There is no reason a jewelry store must make a profit off your gold or that someone would have to go store to store shopping their scrap gold. Refineries have solid reputations, unlike those shoddy looking jewelry stores shown on CNN. These stores who "buy gold" won't be reselling the jewelry as is, they will refine it. Unless it is a very rare piece of jewelry then I can't imagine anyone considering selling it, KWIM? (I am talking jewelry like on the Antique Road Show.) If we send 4 oz of scrap to the refinery, they charge us $35. to assay it (remove impurities) and about 4% of the total value of the refined 24K gold. Big difference between 65% and the poor advice that man who buys gold at parties, which was to take nothing less than 50%.
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Chemocurl zn5b/6a Indiana
16 years ago
Years ago, my sister was sporting a new gold bracelet. She said her old one came off and was ruined in the garbage disposal. I asked what she did with it then, and she replied that she had thrown it out....like it was worthless or something.

I didn't say a thing since it was long gone, but thought at the time that it was such a waste.

Yes, it is interesting. I wonder just how many folks send their useless gold to them, and get what it is truly worth.
lydia1959
16 years ago
I sold some 14K and 10K gold rings missing their gems and a couple thin broken chains a year or so ago on eBay and got $140. They weren't worth anything to me, they weren't old (I think I had bought them from HSN) - so I was happy to get rid of them.
kathi_mdgd
16 years ago
Very interesting..... I'have quite a bit of gold jewelry as i quit wearing it years ago(10 or 12) at least and switched to silver.So all my gold sits in my jewlry box.I tried to give it to the GD's ,but they didn't want it either as they all wear silver as well.
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mrsmarv
16 years ago
I sold some old and undesirable gold jewelry to a local jewelry business last year. I made a litle over $200....works for me, but only locally ;o)
FlamingO in AR
16 years ago
Back in the 80's in FL, some businesses set up shop in motel rooms and advertised that they bought jewelry. So break ins became more common and my house got hit. My custom-made white gold engagement ring with 2 diamonds (antique) and my antique onyx and diamond platinum ring were stolen. And melted down. *sob*

So I do not look kindly on things like this, if it weren't for them making it so easy to get rid of hot items, maybe I'd still have my rings. Oh, and the 2 GIRLS who broke into my house were eventually caught and mildly slapped on the wrist. Grrrrr.
jannie
16 years ago
I was thinking of selling my high school ring. I never wear it any more. High school was not a pleasant time for me. I was teased and treated badly by most of my schoolmates. And the ring is too small for my finger.
okwriter
16 years ago
Since we are in the process of getting our affairs in order, DH and I went through the safe tonight to see if we have things in there we want going to certain people. I found some gold stuff I never wear - and probably never will - so I'm thinking seriously about selling them after reading this. Seems like a good time!

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