Bought some silver today

[markmopar]

A friend needed some computer repair. While I was there she asked me to take a look at some jewelry she wants to sell.
I ended up buying over $260 of sterling for $200(pics below). I have no idea what the stones are in the ones with them. Going to a local jeweler to find out if they're any good.
The last pic is my first Tiffany piece.
She also had over 2ozt of 14k gold stuff(i made it to be $2770 worth). I can't afford to make an offer on it so I'm probably going to mediate for her with the fellow I sell coin to.

 

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[trdhrdr007]

She also had over 2ozt of 14k gold stuff(i made it to be $2770 worth). I can't afford to make an offer on it so I'm probably going to mediate for her with the fellow I sell coin to.

Either I'm not reading this right or you need to check your math. 2ozt of 14k is not worth anywhere near $2770......14k is 58.5% pure so 2ozt contains around 1.16ozt of pure. Having said that, instead of mediating why don't you buy it from her in amounts you can afford?

 

[cyberdan]

Mark, I once had a buy that was too rich for my wallet, but I knew the person. I made an offer but said I would have to refine it before I could pay. She accepted, I sent to ARA and two weeks later I gave her cash.

 

[markmopar]

She also had over 2ozt of 14k gold stuff(i made it to be $2770 worth). I can't afford to make an offer on it so I'm probably going to mediate for her with the fellow I sell coin to.

Either I'm not reading this right or you need to check your math. 2ozt of 14k is not worth anywhere near $2770......14k is 58.5% pure so 2ozt contains around 1.16ozt of pure. Having said that, instead of mediating why don't you buy it from her in amounts you can afford?

The 2ozt is AFTER I calculated...
It's actual weight was 3.482x.585=2.037

 

[markmopar]

Mark, I was had a buy too rich for my wallet, but I knew the person. I made an offer but said I would have to refine it before I could pay. She accepted, I sent to ARA and two weeks later I gave her cash.

That's pretty much what I'm going to propose. I shopped the cash-for-gold and a couple jewelers places today for a local price. The BEST offer was $31/dwt(jeweler) and worst was $10dwt(we buy gold shop). I'm going to call JewelerDave and go from there.

 

[blai745]

Mark, I was had a buy too rich for my wallet, but I knew the person. I made an offer but said I would have to refine it before I could pay. She accepted, I sent to ARA and two weeks later I gave her cash.

That's pretty much what I'm going to propose. I shopped the cash-for-gold and a couple jewelers places today for a local price. The BEST offer was $31/dwt(jeweler) and worst was $10dwt(we buy gold shop). I'm going to call JewelerDave and go from there.

Your best offer price is actually what I pay to my clients when I buy there gold...And I know all too well of those CASH FOR GOLD Scum.. "Hmm buisness has been a bit slow... I know!! lets hire some guy to stand out side and Wave a sign to uncoming traffic saying we will Buy There Gold!! Well we gotta pay him and thats gotta come out of the gold cash payouts..Plus on top of The buildings lease, electric bill, other employees, advertisments, taxes, and most of all Our PROFIT ...So it comes down to $6.66 per gram of 14k ( 10 dwts).. I sure hope the local news dosnt do a report on us..."

 

[markmopar]

Well, I didn't end up getting it after all. My coin guy wasn't interested, so I found an "investor' willing to front me the $$.

She went to a place not too far away that I had mentioned to her that I had sold some coins to in the past(Frank's Jewelers in Pleasantville, NJ). Their first offer, after identifying a couple fake pieces, was $2054! I had offered $1800. When she told me, I offered $2100, she said OK. Then the girl at the store said she "made a mistake" and offered $2318. She called me back and I told her to sell to them.

So, using what I had told her, she made a good $1500-1800 more than what she would have gotten locally. While I didn't lose anything on the deal, I didn't make anything either. It was a learning experience(I wouldn't have told her right upfront what I thought it was worth otherwise, but since I wasn't originally going to even try to buy it all).

I am glad she got a good deal, especially considering her husband lost his job this week. But I am a bit disappointed that I didn't get at least a "thank you".

 

[blai745]

Well, I didn't end up getting it after all. My coin guy wasn't interested, so I found an "investor' willing to front me the $$.

She went to a place not too far away that I had mentioned to her that I had sold some coins to in the past(Frank's Jewelers in Pleasantville, NJ). Their first offer, after identifying a couple fake pieces, was $2054! I had offered $1800. When she told me, I offered $2100, she said OK. Then the girl at the store said she "made a mistake" and offered $2318. She called me back and I told her to sell to them.

So, using what I had told her, she made a good $1500-1800 more than what she would have gotten locally. While I didn't lose anything on the deal, I didn't make anything either. It was a learning experience(I wouldn't have told her right upfront what I thought it was worth otherwise, but since I wasn't originally going to even try to buy it all).

I am glad she got a good deal, especially considering her husband lost his job this week. But I am a bit disappointed that I didn't get at least a "thank you".

So wait...are yhou saying that all the jewerly had a market melt value of $2054 and she sold it to a store for $2318... If that Is right Then She got paid 112% of melt??... Seems impossible for that store to stay in buisness seeing how Gold buyers and most of us get around 94%-95% of melt..

 

[markmopar]

No, it was closer to $2700 melt.