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The missus has got some broken bits of old gold jewelry, been to a local shop and they have offered her £140 for 25.3g. is thee anyway of checking if this is reasonable or not?
Cheers oracle
Xc
A quick google gets you the price per gram, then you need to work out what purity it is - obviously 7ct and 18ct are going to have massively different amounts of gold in for the weight.
Then take a bit off for messing about weighing it. A quick check on any of the online gold sites suggests that's about £100 light for 7ct gold...
random google [url= http://www.hattongardenmetals.com/index.aspx ]http://www.hattongardenmetals.com/index.aspx[/url]
Well gold is sold by the ounce, and the price is dictated by the market. But that's for bullion, I think. Scrap gold will have a lower commercial value I would have thought. Shops will offer as low a price as they can get away with.
http://www.bbc.co.uk/news/business/market_data/commodities/default.stm
$1246 per ounce, = £809.
1 oz = 28.35g.
So by that reckoning, £140 for 25g seems a bit paltry. Mind, they'll take it along to a dealer who will give them a price, and the scrap will be melted down to bullion, I'd imagine. So it might be a fair price.
I could of course have this completely arse over tit.
EDIT: Gold is measured in 'Troy Ounces', which is 31.1g. Which works out to £40 a gram. So 25.3 g = $1013 = £658.
Take into account all the faffing and dealing, then the £140 might not seem so bad. Still seems a bit of a paltry offer though. I'm not sure if 'scrap' gold has a fixed price that dealers and jewellers have to stick to though.
I could of course have this completely arse over ****.
You've forgotten that gold is very rarely pure Gold. Price will vary hugely by carat.
Ok so:
Carat 9ct 14ct 18ct 22ct 24ct
Live Price £9.76/g £15.23/g £19.52/g £23.84/g £26.02/g
You Receive £9.17/g £14.16/g £18.15/g £22.17/g £24.72/g
According to this website:
Meaning your wife's 25.3g would fetch £232 at this particular dealer. So the £140 does seem a poor deal.
Hope this is helpful.
Also a lot of it gets lost whilst melting it down through evaporation etc
Thanks guys thats very helpful
Xc
Also a lot of it gets lost whilst melting it down through evaporation etc.
Really? I'd be amazed if the process wasn't incredibly low waste, due to the value of gold.
Also a lot of it gets lost whilst melting it down through evaporation etc
I think they only melt the gold, they don't boil it.
When I worked at a jewellers they would every few years send the workbenches and flooring off to be burned to reclaim the gold dust. We also used to send off the gunge at the bottom of the lemel pans, which was generated when we electrolysed the castings in cyanide to clean them up. We just dried it out, stuck it in a plastic bag and sent it in the post to Johnson Matthey, hoping the postman didn't lick his fingers if he could smell marzipan.
If I had gold to sell, I'd pop along to one of the many workshops in the Jewellery Quarter in Birmingham.
Possibly as good a time as any to sell gold, before the bubble bursts (or goes off the boil).
Liquid metal evaporates, just like water. Which is why you can't handle mercury outside a fume cupboard.
Its 2nd hand information from a friend who worked in the birmingham jewlery quater buying and selling gold so must be true :-s