Correct. Anyone that buys Gold at chain store prices will never get their money back. Stores (unless a fine Jewler) don't even list the weight of the gold. Most of the time you see .37 for the stone & don't realize its only 2-5 grams of 14kt and they are selling them for $3200. I buy all my Gold below Scrap prices so I'm guaranteed to break even even if the market crashes. I have a ad & listing for what I pay cash. I mostly get items handed down and people just want whatever they can get. My Rolex is worth around $9000 used and I paid $800 to a man that got it passed down to him.Originally Posted by KevinK
Ill go off on a different tangent here because I'm a coin guy sooooo.....
Gold Maples
Gold Krugerrands
and
(my personal favorite) pre-1933 US Gold coins .....$5 Gold Half Eagle Indian....oh yeah
A person can say....."I bought a $15,000 piece of jewelry, so when I sell it, it's going to be worth $15,000".....until you meet someone who understands gold purity and weight and they offer you $300 in scrap value because that's what you actually have in front of you. Jewelry carries ENORMOUS premiums (and low purity) over spot price, so for investment purposes.....just understand what you're actually buying.
I purchased a 5 ounce Mariner link chain in Dec for $1200. Even my Jewler offered me $3000 cash for it lol. I don't buy anything below 14kt. Last year I melted 3 ounces of scrap I had so my jewler could make a Chain for my daughters Sweet 16... He does molds and designs all the things I see that I like and then makes them. All the real weight I have I bought when gold was under $600 a ounce back before 2009.
Sent from my iPhone using Tapatalk
Reply With Quote