The best place to sell 14K gold???

[nzahne]

According to your experience, where is the best place (or best places) to sell 14k gold jewelry? I have about 50 grams of 14K gold jewelry (rings and necklaces, no stones) and would like a good payout, quick turn-around, etc. I have heard Northwest and Midwest Refineries are reputable, but I'm hesitant to send my gold there and get ripped off.

Also, if gold is going for $1565.70 (as of 5/1/11), what would be the payout for 50 grams of 14K gold? I need a conversion calculator or help from someone good at math.


THANK YOU!!!!! I need cash fast. Like yesterday.


-Natalie

 

[glondor]

http://www.dendritics.com/scales/metal-calc.asp?WeightU=20&Units=g&Metal=Au&PurityC=.583&Purity=0.583&PrOzt=&CurrencyN=CAD&Markup=0

 

[loki_81]

Also, if gold is going for $1565.70 (as of 5/1/11), what would be the payout for 50 grams of 14K gold? I need a conversion calculator or help from someone good at math.

You'll find the scrap gold price calculator to be helpful.

Hope that helped.

 

[SandhillsSteve]

I find American Recycling Ass in Dallas to be straight up honest and as dependable as they come. I have dealt with several of the big refineries with both good and bad results. I was attracted to ARA by their claim of paying 98% of melt value for gold AND reclaim the stones and return them to you with NO FEE. I have sent dozens of shipments to ARA and have found the results to be consistent, predictable, and timely (app 2 week turnaround from shipping date) and very,very close to their claims of 98%, but higher than the others in any case.

I did have one shipment where I received app $1500 less than expected. I sent ARA a email (it was a Saturday) and followed up with a phone call the following week. I spoke with one of the owners, NIkki, who had received my email, looked into the situation, looked into my prior claimed vs actual numbers and was issuing a check to me that day. I received a check for the full amount I disputed, even though the reason for shortage had not been determined, within the week. Any company can make a mistake, and I have made my fair share of mistakes also, but how you handle a situation and resolve disagreements is the customer service that separates the true professionals in this business from the ripoff artists that seem to run major refineries.

 

[rick310]

if spot was at 1620 oz i would of payed 1300

 

[fishntrox]

I to am a fan of ARA in Dallas.

 

[patnor1011]

What percentage of spot you offer when you buy gold?

 

[jimmydolittle]

Whomever you use, call before you ship and lock in the price for that day. It will guarantee that no matter if the market falls, you'll still get that locked in price. It won't help much if it rises though.

 

[Oneal58]

Is there someone who will buy your refined gold from you besides listing it on Ebay and paying those rediculous prices to sell now? If you can get 87%-90% from some company that would be better than you can do on Ebay. Is there a company that will buy from a small time refiner and pay a decent price. Thanks, Oneal

 

[Palladium]

I see gold go on ebay for 110, 125, 150% spot all the time. It’s crazy sometimes what people pay. If you all want 87-90% for your gold and you’re getting say 125% spot then that’s 35%. Why would you not want to pay ebay and paypal fees of 11. something percent? You still clear 24 % over spot. On a $1,000 dollars that’s $240 !!!!

 

[Harold_V]

Is there someone who will buy your refined gold from you besides listing it on Ebay and paying those rediculous prices to sell now? If you can get 87%-90% from some company that would be better than you can do on Ebay. Is there a company that will buy from a small time refiner and pay a decent price. Thanks, Oneal

When I operated my humble refining service, I sold gold routinely for spot. Buyers were almost 100% manufacturing jewelers---all of which were my customers. I rarely had enough gold to sell, for it was a bargain for them, and would buy from me exclusively were they able.

Reason?

No one buys pure gold for spot. There's always a fee added ----so buying for spot is just as good a deal for the buyer as it is for the seller, who, without such buyers, will have to sell for less than spot.

There's just one problem. Until you become recognized as an accomplished refiner, you'll have one hell of a time convincing a benchman that your gold is of high quality. I've never encountered one that was thrilled to cast items from waxes he carved, only to discover the gold was contaminated.

In this business, your reputation is everything. If you can establish yourself with one benchman, he will see to it that others use your services, too, assuming you do a good job for him. The small consumer of gold is in a bad position where processing their wastes is concerned. Major refineries do not treat them well.

Harold