How much can I expect for a 14k ring?
 

I don't know the weight, but it is 14k. Once I determine the weight, is there a melt value that I should go by? I am going to a gold dealer today. Different one than the morgan dealer I went to yesterday.

Trying to raise cash yet again.

Thanks much.

Re: How much can I expect for a 14k ring?
 

14k is about 13/24ths gold. So assuming you have a 10 gram weight, about 5.4 grams of that is gold. You will be offered no more than about 50-60% of the gold content.

The reason that I say 13/24 instead of 14/24 is that gold is allowed to be under-karated so the assumption is that the maker will under-karat it.

Re: How much can I expect for a 14k ring?
 

I dont think there is a melt value you go by but the link below will do the calculations for you once you know the weight. For example, a 1 oz 14K item will be worth aproximately $553 at todays spot prices.

http://www.silverrecyclers.com/Calcu...alculator.aspx

I doubt you will get much for your ring, probably 10 or 20 buxs for it

Re: How much can I expect for a 14k ring?
 

I see, then it isnt at all worth the trouble, thanks guys

Re: How much can I expect for a 14k ring?
 

Looks good! :ok: The top end that I see here is about 65% of the gold content, but many pay less to account for under-karating.

I would weigh it, do the calculations, and then see what is offered. You could at least tell the coin shop or jewelry store that you know the gold content and negotiate a higher price. From there, it might not be a bad idea to trade for some recognized silver (90% or bars or rounds). That will be more useful in a SHTF scenario IMO. :applause_

Re: How much can I expect for a 14k ring?
 

weighs 9.5 grams was offered 90 bucks. pfft

Re: How much can I expect for a 14k ring?
 

Wow....you were offered almost 50% below the going price which is about $176. If you sold the dealer will net almost $70 after getting it sent to the refinery, provided the refinery pays 90-95% of spot for the gold content

Re: How much can I expect for a 14k ring?
 

you know anywhere to get that price for it?

do you have to be a dealer to get paid from a refinery?

Re: How much can I expect for a 14k ring?
 

I've used these guys multiple times http://www.midwestrefineries.com/
check them out, they pay quickly

Here's a gold calculator also
http://dendritics.com/scales/metal-calc.asp

Re: How much can I expect for a 14k ring?
 

I buy 14K scrap almost every day. My buy price for 9.5 grams of 14K today would have been $103.00. Maybe I need to adjust my formula down a little.
I pay 60% of melt and sell for 92% of melt once I accumulate 500 Pennyweights. (25 ounces troy 10, 14, and 18K combined). I call the smelter, lock in a price, ship same day, pay insurance, pay assay fee, and wait about 2 weeks to get paid.

Of course, all the jewelry companies jip the karat slightly. 14K is usually 13.5K, they all cheat.

Of course, I try to buy on dips and lock in sales on spikes. Sold crapload recently when gold was over $1,000 per oz. All cashed up and ready to start loading up again when gold dips down to $950 or below.

Re: How much can I expect for a 14k ring?
 

I've seen midwestrefineries mentioned several times. Anyone acaually used them for small quantities? I have about 1/2 oz scrap dental gold. Will they really give me 90%+ of spot value?

Re: How much can I expect for a 14k ring?
 

why not call and ask? Google and look for toll free #...

Re: How much can I expect for a 14k ring?
 

i have used midwest refining about two weeks ago i also have been buying scrap gold for 60% i sent them what cost me 780.00 and recieved back a check for 1123.00 i was expecting about a 400.00 profit and was a little off but i think it has to do more with the under karating thing the above poster was talking about.i was satisfied with the first batch. i sent 300 grams of 14k and 100 grams of 10 k this morning well see in about a week how i did n all i paid about 3900 for it am hoping to get a little over 6k for it

Re: How much can I expect for a 14k ring?
 

There are way better options than Midwest if you are doing any kind of volume. The refinery we're using has a 48 hour turnaround and is giving us 98.5% of yield with reasonable $50 assay fee (but they also pay for shipping). Midwest is 95% (and does not pay for shipping).


berkscoin,

I'm half owner of a scrap gold company with 3 locations. We buy every day with 30% spot as a base payout. People take it all the time. Sometimes we negotiate up to 55-60%, if they have a lot of scrap. Whether you think 30% is too low or not (we don't do any retail or bullion; so no other forms of revenue), I think you're paying far more than you have to... just food for thought.