$600 In AU Scrap - Coin Community Forum

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Author	Replies: 9 / Views: 1,193
DavidZerbato Pillar of the Community United States 1081 Posts	Posted 08/25/2011 9:57 pm I have have about 18.2 grams of 14k scrap gold, mainly old jewelry. It's worth about $600 at today's spot. Anybody have any idea what I could expect to get for it if I sell it to a gold buyer? Even a ballpark range would be helpful. Thanks. Report this Post to the Staff

Namachieli Pillar of the Community United States 2120 Posts	Posted 08/25/2011 10:43 pm 14k? -10% ish. Report this Post to the Staff
D0ubl3Eagle Pillar of the Community United States 5854 Posts	Posted 08/25/2011 10:52 pm A couple of shops around my area are offering around 60%-80% of the gold value. Report this Post to the Staff
Namachieli Pillar of the Community United States 2120 Posts	Posted 08/25/2011 11:13 pm wow. that seems low. /shrug Report this Post to the Staff
mkfarm Pillar of the Community United States 667 Posts	Posted 08/25/2011 11:14 pm What does it matter? If you need the money sell it. You just need to shop the selling price to land the best deal. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 08/26/2011 12:57 am 80% Report this Post to the Staff
ICanSeeYou7687 Valued Member United States 362 Posts	Posted 08/26/2011 08:21 am What's that might that melts your gold inti bars, and only charges 10%? Maybe that would be a way to go. I feel like you could get closer to 90% on ebay lol Report this Post to the Staff
trdhrdr007 Pillar of the Community United States 2335 Posts	Posted 08/26/2011 08:48 am Quote: 14k? -10% ish. It's pretty much impossible to run a business on a 10% margin. Add in the holding period that most states impose on gold purchases & a 10% margin is a disaster waiting to happen. If a dealer bought on Monday in a state with a 3 day holding period they were underwater by the time they could resell. Report this Post to the Staff
DavidZerbato Pillar of the Community United States 1081 Posts	Posted 08/26/2011 10:01 am Thanks for all of the responses. It helps out. I am hoping to get around 75% of spot, but I'll see. I thought about ebay, but with the fees associated with that and the time, I don't think it will work out much better. I am glad though I purchased a scale not too long ago, at least now I know what I have so I can better judge an offer. Report this Post to the Staff
nohope587 Pillar of the Community United States 5953 Posts	Posted 08/26/2011 11:06 am Send it to a refinery it will take a little longer to get your money but you will get more or your gold back in a purer form. http://www.aragold.com/ is the most popular on the metal detecting forums http://www.midwestrefineries.com/ is also popular but they have had mixed reviews in the last few months. 15 to 20% off melt is the range that local bullion dealers were paying when I left a couple of weeks ago. The more you had the better the deal. Report this Post to the Staff
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