FreedomUIC
Bronze Member
Went to a coin show with him last Saturday. He had ask that I look at some of his old jewelry that he had and offer up a suggestion as to what he should do with it. First piece he brought out of his pocket was a necklace that was about 18 inches long (give or take an inch), clasp was marked 18kt. I told him that the necklace was about $200 - $250.00 dollars worth of gold (guessing). He said that is absolutely nuts. The next was an old Masonic ring, it was labeled .925 and .885, guessing that it was a sterling silver ring that was gold plated. Told him the gold in the ring was worth about 10 cents but the value comes from the silver. Gave him a guesstimate of about $25.00. He put the rest of his stash away and told me that I was bonkers and didn't know what I was talking about.. 
Cut to the chase, I was selling some of my coin collection off at my coin shop and they remarked that they buy gold and silver jewelry as well. I have known the owner of this shop for over three years now and was surprised when he said that. I didn't have a clue that they were into bullion/scrap gold. Called my friend up and told him to bring his stash over to the shop.
End result, the necklace he had shown me netted him $235.00 dollars, the ring was exactly what I said it was and got him $24.50. All told, between his wife and him, they walked out of the shop with almost $1,500 cash. The owner paid 98% of melt at the time. He whispered in my ear that the money he just got was his seed money and he was going to hit every Garage sale between here and timbukto. I had to break out my book and explain to him the different markings to look for, where to buy an acid kit and so on. He has been gone every morning this past week looking for Garage sales. I ask him if he scored, there is always a big smile on his face when he looks back at me. I am sure that I will get dragged along real quick like. He latest score came from two garage sales, paid $25.00 for a jewelry box at one sale and $5.00 for three bags of worthless costume jewelry (According to the person running the sale). All told he got over $250.00 in gold from those to buys. I cautioned him and told him about beginners luck.
We shall See.
Happy thanksgiving to everyone here on TNET.
Robert
Cut to the chase, I was selling some of my coin collection off at my coin shop and they remarked that they buy gold and silver jewelry as well. I have known the owner of this shop for over three years now and was surprised when he said that. I didn't have a clue that they were into bullion/scrap gold. Called my friend up and told him to bring his stash over to the shop.
End result, the necklace he had shown me netted him $235.00 dollars, the ring was exactly what I said it was and got him $24.50. All told, between his wife and him, they walked out of the shop with almost $1,500 cash. The owner paid 98% of melt at the time. He whispered in my ear that the money he just got was his seed money and he was going to hit every Garage sale between here and timbukto. I had to break out my book and explain to him the different markings to look for, where to buy an acid kit and so on. He has been gone every morning this past week looking for Garage sales. I ask him if he scored, there is always a big smile on his face when he looks back at me. I am sure that I will get dragged along real quick like. He latest score came from two garage sales, paid $25.00 for a jewelry box at one sale and $5.00 for three bags of worthless costume jewelry (According to the person running the sale). All told he got over $250.00 in gold from those to buys. I cautioned him and told him about beginners luck.
We shall See.
Happy thanksgiving to everyone here on TNET.
Robert
