hit $5,000? Unbelievable for that. I never Sold Any Of my Gold Jewelry. But I wanna buy a pair of nice earrings for my old sister as wedding present. I've already looked into this 14k White Gold 1/4ct TDW Princess Diamond Three-Stone Earrings. am i on the right track here or are there any better?
Have YOU Sold Any Of Your Gold Jewelry And If So, How Did You Do It?
by minimus 19 Replies latest jw friends
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Amazing
My wife and I sold some of her jewelry recently. We went to several jewelers locally that advertise to get estimates. The best one was recommended by a friend who knows the dealers. They gave us 90% of spot market. Of course, this is further reduces if the gold is less than 24 ct. Most of what she sold was 14 to 18 ct. The dealer wrote a check on the spot, and she cashed it at his bank that day. Shop around; ask for advice and recommendations from experienced people who know the local jewelry dealers. It is also good if the dealers also trade in gold and silver coins and bullion. The process is easy. The dealer will closely examine each piece and conduct a mild acid test to make sure what you bring is the real deal, and to prove the carat weight. The entire time in the store that bought the gold was about 30 minutes. It is as simple as I describe.
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BurnTheShips
A Cuban without gold is like a fish without scales. I like my bling.
There is even a link pattern known as "Cuban chain" lol.
BTS
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minimus
Hey Amazing Jim! Good to see you here!!!
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The_Present_Truth
Might be time to ditch that old wedding ring. I wonder how much a men's wedding ring weighs on average?
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minimus
4 to 8 grams
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The_Present_Truth
Whew... that ain't much weight. May have to wait until Gold hits $5K an ounce to sell that thing for scrap.
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brojo
Actually sold some today locally (Waterbury, CT) . Got $28.00 per penny weight which is better than any online price I found.
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diamondiiz
Here's a part of an article I was just reading but it sums up why owning gold is not a bad idea.
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In 1975, as Saigon was falling, South Vietnamese refugees were air-evacuated into Guam and the U.S. The company Deak-Perera was hired by the State Department to serve as the official "money changer" for the refugee camps, and it quickly became apparent to the employees that even the most prominent of Vietnamese citizens arrived with nothing but the clothes on their backs and whatever belongings they could carry. It was a somber scene.
The problem facing the refugees was that the banks in their home country had been nationalized (along with most everything else in the economy), meaning they couldn't write a check that was cashable. This presented obvious financial roadblocks for many of them, who were already dejected about their circumstances and insecure about the future.
Perhaps the most dramatic example was a successful Vietnamese businessman and his family who had been uprooted by the war. Though his suit was haggard, it was readily apparent the man had been wealthy back in his home country. He approached the exchange desk with two large suitcases full of piasters, the paper money issued by the Republic of Vietnam. The Deak-Perera worker, Michael Checkan, gulped and, with as much empathy as he could muster, explained to the refugee that piasters no longer existed. They were worthless, and the employee could not give him any money.
The reality of the situation visibly struck the man, and his face suddenly looked like he'd been told he had 30 days to live. He protested, but there was nothing the company or Michael could do. The currency simply wasn't worth anything. The man was broke, in spite of suitcases full of his country's money. As he trembled, his wife began crying and the children became frightened. They shuffled away, hopeless.
Later that day, Michael had another well-dressed refugee approach the exchange table with his family. He carried a ragged satchel, and explained that he had been a banker in Vietnam. As the man began pouring the contents of the bag onto the table, Michael braced himself, knowing he would have to explain that piasters could not be exchanged for anything of value.
His mouth dropped open, however, when he looked down and saw, gleaming in the sunlight, stacks of 24-karat gold TAELs, a form of gold bullion indigenous to South East Asia. They looked like wafers, thin sheets of gold delicately wrapped in paper. Each TAEL was .9999 pure gold and weighed 1.2 ounces. The man had dozens and dozens of them.
Michael peered back up at the man; he was brimming with hope. The employee calculated the bullion's value and moments later bought the gold TAELs, issuing the refugee a traveler's check for a large amount. The family hugged as they walked away.
As an American, you may not have to flee your country due to a military conflict. But there is something far more likely; you may have to flee your currency. There are many threats to your hard-earned wealth, and the most insidious is a weakening of the U.S. dollar. -
The_Present_Truth
$1399.60/oz this morning! Wow.Gold seems to be unstoppable at the moment. You have the inflation trade working for it with the declining dollar and then too you still have the uncertainty trade working for it. To get this economy going again the U.S. (as always) is going to have a weak dollar policy. The Fed has sworn to keep interest rates low to encourage consumer spending. Both necessary to get the markets moving again and encourage borrowing. As inflation and debt rise - even if the stock market rises- Gold should go higher. If it goes the other direction and the bottom falls out again, I think Gold goes higher still as a place to go for safe haven.
It wasn't that long ago I remember Gold being $300.00/oz. Unreal.