Gold Chain Find at Yard Sale

goldkey

goldkey

Hero Member
May 21, 2013
911
501
Middle Tennessee
Detector(s) used
Nokta/Macro Anfibio Multi / Nokta Fors Core /Ace 250 - w/ 9"x12" Coil /
Whites TRX Bullseye
Primary Interest:
All Treasure Hunting
Went yard saling Saturday with the intention of finding something worth buying for resale.
At one sale I noticed 2 gold chains on the table. Picked the first one up and it had a tag on the clasp.
Looked at it closely and sure enough it said 14k. It was an 18" ladies chain. It had $10 on it. I told
my girlfriend that was with me...we need to get this!! She said...but we don't need a necklace!
We got it and when we went to the car...I told her we needed to go to the gold store and sell it.
To her surprise....we got $162.00 for it. A nice day at the yard sale!
I still need to teach her more about the Happy Dance:laughing7:
 

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Good find, i always look at jewelry but i never find a anything of value.
 

Hi Theekman...I see you are using the garrett ace 250...Mine will be here tomorrow by fed-ex.
Previously had a Fisher 1280x for years....hunted a lot in Florida. Thought I would give the 250 a shot. How do you like yours?
 

Thank you diggummup....I learned something today from your reply. I learned how to calculate and figure the price of the gold....and you are correct. Based on the spot price of gold today (1369)...the necklace was 15.6 grams (14k).....figured to be worth 27.38 per gram = $427.12. Where does a man take gold to sell.... to get a fair price for it? Maybe I should open a gold store and just sit and wait for dummies like me to bring it home!!!! JK......couldn't do that. I would rather search or dig....no matter the results.

Update: Doing more research I find different numbers to calculate. Using .0168 for 14k x 1369 (current spot price for gold) = 22.99 per gram x 15.6 grams =$358.78. None the less....I will approach this more aware of what I have and where I go to sell it.

Thanks
 

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I sell it on eBay. Even though you loose 10-13%. That's alot better then say 30%. I just had two 4.5 gram bracelets sell for $185 and 187. Both 14k.
 

Thanks Isabella....I need to get that ebay up and running .....I have other items that would be good for that.
 

Although I haven't had the good fortune to dig up a nice gold ring yet, I have friends who swear by these guys. They
pay as close to spot as anyone out there I'm told. I'd love to hear from anyone here who has dealt with them.
 

I didn't want to be the bearer of bad news but in the future try and stay away from pawn shops and gold buyers, emergency situation only. I sell mine on ebay. Look at it as a learning experience. You still made a handsome profit and quick. Just not quite as much as you should or could have.
 

I just call around and ask what they are paying per gram for 14K or silver. I've managed to find a couple of places that pay around 90% of melt for gold and 80% for silver. There are a lot of places that pay less than 50%, especialy pawn dealers.
 

Rdunzl said:
Here is a recommended place to sell gold:

American Recycling Associates
2431 Walnut Ridge St.
Dallas, TX 75229
Phone Number: 1-800-216-9796
Fax Number: 972-620-9962
Email: [email protected]
Alternate Phone: 972-620-6020
[email protected]
[email protected]
Click to expand...

I'd really, really, really like to see someone take half their gold (one type of karat like 14kt only) and send exactly half to ARA, and then the other half to another refinery. ARA makes me worry and I haven't sent anything to them for over a year. FYI
 

I have sold several thousand dollars in scrap gold to ARA in the past. I switched to NTR a few years ago and am very satisfied. I spend the winters in Az. and they have a refinery in Phoenix. It is very fast and extremely accurate. My last deal was for $2500 and only 1/2 gram off in weight. It was in my favor. If you sell to them you may lock ion the price also. If you walk in, they will process your gold or silver within a couple of hours. Otherwise your check will come by mail or Fed-Ex. They pay 98% on all karat gold and 90% on all silver. Several locations, look 'um up. BTW, my scrap comes from water detecting. Long post, hope this helps......
 

I've used ARA several times. I'm satisfied with their dealings in gold. I test my product with digital and acid tests, so I know pretty much what I have before I send it. Because of recent anti-terrorist laws, companies like ARA require some documentation. You should download their form and fill it out as best you can, and send it in with a detailed packing list. I simply used Esq after my name and my SS as a license # on the form. I'm confident I gotten about 98% of spot on my gold dealings with ARA. If you don't want to give that information up, then take your loot to the nearest pawn shop. You should at least know what you have, because it's not the buyer's business to enlighten anything but your wallet, if you catch my drift.
 

I sold a gold ring on eBay the buyer then emailed me sayin he buys gold and to text him a weight and karat. He would shoot me an offer then i can send him an invoice through paypal. Once he paid i could send him the gold. I talked to him on the phone and he seemed good. Anyways I texted him today and he offered $114 for 5 grams of 14k. I've never had a problem with just a paypal invoice. They have worked in the past. Plus it only 3% in fees instead of 13%.
 

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