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 Replies: 31 / Views: 3,091 |
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Valued Member
United States
152 Posts |
so this is the first time in my life I traded away gold for silver... I traded a 24k gold ring that weighs 15 grams for 22 oz of silver... I know I lost a lil but I didnt really care considering I bought the ring in 2007 for 320... am I the only one trading gold for silver? alot of my friends are callin me a idiot but I think silver is were the moneys at
please discuss your situation with trading gold for silver!
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Pillar of the Community
United States
548 Posts |
Let's see:
15 g of 24k gold @ $1750 = $844
22 oz of .999 silver @ $35 / oz with 10% silver premium = $847
I can't imagine anyone doing that deal for you. There's no $ in it for them. Heck, I own a scrap gold biz and I'd never do that deal.
Another question: who the heck makes a 24k gold ring?
Lots of things don't add up.....
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Pillar of the Community
United States
4897 Posts |
I think you did just fine. The ring was more likely 22kt at most (1744 x .4 = 697) melt 22ozt .999 x 35 = 770. Not a loss in my book!
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Valued Member
 United States
152 Posts |
im a repeat customer at placer gold in california so he gives me the best and fair price because we doooo alot of business... and that 24k gold ring was bought a asian jeweler... I also have many beautiful piece that is 24k that I bought 10 years ago here are some pics.. and this is a diff ring this one has a ruby on it house    i bet you wouldnt lol I go to my man peoples to do deals rather then gettin ripped off! |
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Valued Member
United States
152 Posts |
oh and this trade was when silver was at 31 and gold at 1687 lol
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Pillar of the Community
United States
4897 Posts |
Regardless of the mark I would wager it wouldnt test 24k solid. I've bought alot of Indian wedding sets, probably the nicest gold in the world IMO, and they always assay at about 22k. Great deal for you though!
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Pillar of the Community
United States
548 Posts |
Cool!
The highest gold concentration in jewelry brought to my shop has been 22k. I was really worried about it, as an error in gold assay can mean a big loss for me. Sure enough, after melt it was 91% gold. Whew.
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Valued Member
United States
152 Posts |
theres a diff between indian and asian gold lol almost all indian iv seen is 22k hard... while all asina gold iv seen 24k soft and bends easly like my clasp on the necklace
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Valued Member
United States
152 Posts |
hmmmmm now you guys got me wanting to test my jewls :O
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Pillar of the Community
United States
4897 Posts |
I to have not seen 24k jewelry in my shop. Not doubting you just saying I (personally) would never pay above 22K on jewelry...regardless of origin Saudi, Indian, Pakistani, Guyani, Arab Emerites or whatever....too much risk. However< I think you made a very estute trade!
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Pillar of the Community
United States
548 Posts |
You know, if your gold vendor had some lower cost silver bullion laying around (bars or rounds that he bought at $30), he might have "rewarded" you for being a loyal customer.
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Valued Member
United States
152 Posts |
^ true I dont own the business I just go by the stamp, but lucky I bought all these for cheap it wouldnt matter however if I was buying in today market I would be mad due to false advertising lol
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Pillar of the Community
United States
548 Posts |
I've always wondered why more customers don't ask me to convert their scrap gold jewelry into bullion, either silver or gold.
Their response is always that they want the cash. Else they wouldn't be getting rid of their gold.
A long time ago, when I got rid of some of my personal gold jewelry, I purchased some Panda coins with the money. Heck, I didn't really need the cash...
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Pillar of the Community
United States
4897 Posts |
Lobby, unfortunately "cash is king" for most. Revenge is a common theme I see too, " I got it from an ex- girlfriend, boyfriend, hubby or wife etc.. and I just want it gone!"  ......ok! |
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Pillar of the Community
United States
548 Posts |
The best story I've got re "ex-husband" is sorta a sad one.
Lady comes in the store with this gorgeous diamond ring. 1 carat marquis with lots of little diamonds all around it. Plus two other bands on either side of it, each with additional diamond.
Even after offering her some $ for the diamonds (which is a flaky exercise, at best, due to diamonds inherent lack of value), she still decided to keep the ring.
See, she liked that diamond ring more than the one her current husband had given her. Gasp! She decided to keep it and offer it to her daughter when she got married.
Absolutely wild.
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Pillar of the Community
United States
4897 Posts |
LOL....I hear ya on the diamonds too....even one small piece of carbon and forget it! If its not round, at least .5 ct and flawless I wont bother. Dont get me started on pearls |
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Replies: 31 / Views: 3,091 |
Posted 10/30/2011 9:10 pm
