Buying scrap?

[battlecat]

Is there a chart to figure out what I should be paying for scrap 14 and 18k jewelry at?
I have a guy here that buys from the public then takes it to get refined. He said he will sell to me for the same price he gets from the smelter, but how do I know what I should buy at so I dont get ripped off?

 

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[cyberdan]

Is there a chart to figure out what I should be paying for scrap 14 and 18k jewelry at?
I have a guy here that buys from the public then takes it to get refined. He said he will sell to me for the same price he gets from the smelter, but how do I know what I should buy at so I dont get ripped off?

You can also pay what he pays, I do it all the time. See some of my older posts on garage sales.

Knowing the value is is all in the math
you need to know the real karat value (not what is stamped)
you need to know the exact weight in grams (some use pennyweight)
when you get that drop me a line and I will explain based on whet you have.

About buying from him for what he gets at the refinery. It just depends who his refinery is. Some charge 2%, 5% and probably more. Others also charge a refining fee.

 

[battlecat]

Sorry I dont think I explained it right. Hes buying from private owners then selling to a refinery for a profit.

 

[cyberdan]

Sorry I dont think I explained it right. Hes buying from private owners then selling to a refinery for a profit.

Yes, I understood. What I was trying to say is you can also buy from private owners and sell to a refinery and make the same profit. Just takes a little legwork, luck and basic knowledge of precious metals.

See another posting I just made in the garagesale forum.
http://forum.treasurenet.com/index.php/topic,306870.0.html