How many of you sell your gold?

As a garage sale junkie, any gold I find and the piece is nothing special, I take mine to my jeweler. He gives me full gold value towards store credit or gives me cash value (abut the same as those shitty places).

My buddy used to own a gold buying place and I spent a lot of time in there. It is much better than 50% of gold price, but obviously way way way lower than a retail store. The markup on jewelry is ridiculous


You might buy a $200 dollar chain and pendant that actually has $60 worth of gold in it. The buy back place will give you $45 for it

I'm sure they are not paying full value to the gold. 12k gold is about $30 a gram (if I remember correctly, I may be off). They are paying $25 a gram (for example, plus banking on gold to continue to go up in value).

Junk gold is jewelry and these places buy it on a future estimate because it has to be sent off to the refinery melted and certified the time lag and price at return is estimated.

When you buy certified gold you get a "spot price" but then you will see the tacked on refinery and certification cost. Gold's spot price of the moment is $1090.70 per ounce but if you buy a PAMP 1 ounce gold bar the price is $1114.69.

This allows me to sell at the moment near the spot price if I wish to sell which is rare in my case, but I did when it went up around the $1800 mark a few years back.

Hope this helps.

Well on these old ibms they say it's 24k and 99.9% pure. I have gold buried that I bought but I'm no expert on rating it.

I used muriatic acid to separate it from the boards. Was pretty easy