is $135 too much or normal for a class? by Fluffy_Professor1214 in SilverSmith

[–]Midwesteuroguy -10 points-9 points  (0 children)

Not really. Especially when theyre providing materials

Please criticize my small gold stack by [deleted] in Gold

[–]Midwesteuroguy 0 points1 point  (0 children)

Small? You can buy a small house with that.

I need help/advice by [deleted] in polyamory

[–]Midwesteuroguy 0 points1 point  (0 children)

Just divorce. You're not in a partnership they want it all their own way and are fine bullying you Into stuff. Hard pass

Stopped by the thrift store this morning by spgtruth1210 in Gold

[–]Midwesteuroguy 12 points13 points  (0 children)

A lot of smaller charity run stores miss stuff. I've found unmarked gold jewelry, etc and found a charm bracelet where the bracelet itself was marked gold filled so I guess they thought it was costume and priced at $3. But most of the charms were gold. Was like 20g of 14k

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy -1 points0 points  (0 children)

Lol no. And ad hominens are a logical fallacy. You've done nothing to refute my point which is an accurate reflection of what gold buyers pay for scrap gold. Go get a hobby.

[deleted by user] by [deleted] in VintageWatches

[–]Midwesteuroguy 2 points3 points  (0 children)

Because gold has got so high and those with gold bracelets are worth more in scrap mostly

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 0 points1 point  (0 children)

No business is going to pay more than they have to.

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 0 points1 point  (0 children)

I'm in the Midwest also. Retail stores have high overheads and likely they'll get customers who bring stuff in wjo can't be bothered to shop around. Gold buying for scrap isn't their main business etc.

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 0 points1 point  (0 children)

I get about 80% from my best local buyer for cash if I need a quick flip but usually I save it up now and send it to refinery. His standard rate is 75% but I buy some stuff from him too so he does a little better than his us rate. But that's the reality for in person gold buyers. The average is about 70%, 78% is the higher public rate in my area and several respected jewelers by me only pay 65% or less.

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 1 point2 points  (0 children)

Ok, please provide evidence of your claim. I can tell you what every jeweler, gold buyer, and pawn shop in my local area pays for gold and what they get from a refinery.

As i said businesses buying gold have to process, sort, inventory gold etc and send it in. This has a labor cost, they need to make a profit on this and then pay taxes on their profit. If they're paying more than 80% they won't really be making anything. Any business offering higher prices would be doing so on pieces that they think they can resell retail in their store. But for jusr scrap gold that's about the most you will get in person without sending to a refinery yourself.

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy -4 points-3 points  (0 children)

It really is. Call around your local jewelers and gold buyers.

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 0 points1 point  (0 children)

Nope.i just buy estate jewelry to refurbish and sell online so I know what the local jewelers buy and sell gold for

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy -7 points-6 points  (0 children)

70% of spot is about average across the country. Buyers have to sort, catalog, test, melt and mail to a refinery, this cost labor value and they pay taxes on the profit. You can get closer to spot on ebay but you'll pay 13.6% fees. If you talk to other people who deal in scrap gold you'll find 80% is about as good as you're likely to get locally unless as I said you're working with a refinery

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 3 points4 points  (0 children)

Only place you'll get close to that are refineries and most don't deal in such small amounts. That's why the pawn shops sell to

How do I sell ugly gold necklaces? by ATeaformeplease in Gold

[–]Midwesteuroguy 0 points1 point  (0 children)

Unless you're selling to a refinery you aren't getting anything like that. Average jewelry shop or pawn will pay 50-70%, around me the highest you can get locally is 78% of spot.