My Scrap Gold Adventure

Interesting. I've sold scrap gold on a couple of occasions and never went through that. Two times I sold at different jewelers and they sorted by fineness and weighed and did their calculations and paid me. Third time I sold on ebay.

Thank you for sharing.

[Ratman4762], Yes, that is more typical but you need to go in with a pretty good idea how much actual gold you have so you can calculate how much discount to spot they are charging. Knowing your number allows you to comparison shop between jewelers.

[Zurie]

This is what I gather from the adding machine tape.

Confirmed that 52.95 total grams at 56.05% purity gives 29.678 gms Au.

2% discount/fee leaves me with 29.084 gms Au or .935 oz Au.

Using $3823 spot, my bar worth $3582.92 plus $35 credit for assay, total $3617.92.

I traded for this coin which was spot +$59. So my bar and cash rounded to $260 for the coin.

Excellent!

[Zurie] [Hondo Boguss]

Yes, much easier to pass along to the kids! Jewelry in a random drawer can get overlooked and tossed! I was at an estate sale and found this huge gold ring buried in all the stuff they pulled out of a bathroom. I discreetly asked the person conducting the sale and luckily the owner of the home was there. Usually a service is hired for the sale. I showed her the ring and what was odd was that it took her a moment to recognize it because whoever wore this ring, his hands must have been huge. At estate sales, valuable stuff gets "palmed" all the time, but I turned it in. I go to a lot of estate sales, and I can do without the wrath of estate sale Gods.

This method is fairer and safer for both buyer and seller. I was relieved that the discount on the bar was only 2%. I would guess that the discount at the "We Buy Gold" places would be much higher.