Easy Found Cash!

[plugginaway22]

Now that I am retired and have some time on my hands things are getting done around the house. I was sorting and organizing my jewelry and a friend mentioned to me that it's a good time to sell gold. Prices have been hanging around $1800/oz. Anyway I gathered a very small sandwich size zip-loc bag of broken chains, odd earrings, a pendant from the 80s, some charms from an old bracelet (all stuff I did not want). We went to the jeweler recommended by my friend and walked out with $800.00. I was quite happy and surprised.

[NoNamePerson]

I did this a while back but not just gold. I had stuff of mine and some of my mothers that I had thrown in drawer when she passed away. I was so surprised hat some of the sterling stuff was also valuable. Easy money like you said. 

[mamasita99]

Jan 14, 2022 7:38:59 GMT -5 NoNamePerson said:

I did this a while back but not just gold. I had stuff of mine and some of my mothers that I had thrown in drawer when she passed away. I was so reprised that some of the sterling stuff was also valuable. Easy money like you said. 

This reminded me that I have a chest of silver cutlery to figure out what to do with.

[minnesotapaintlady]

I've been trying to figure out what to do with the two wedding sets I have.  One was rather cheap, and I'd be ok with selling those for the price of the gold, but the other one was thousands of dollars a long time ago.  I don't suppose diamonds have much of a resale value though.

[Opti]

Jan 14, 2022 7:15:49 GMT -5 plugginaway22 said:

Now that I am retired and have some time on my hands things are getting done around the house. I was sorting and organizing my jewelry and a friend mentioned to me that it's a good time to sell gold. Prices have been hanging around $1800/oz. Anyway I gathered a very small sandwich size zip-loc bag of broken chains, odd earrings, a pendant from the 80s, some charms from an old bracelet (all stuff I did not want). We went to the jeweler recommended by my friend and walked out with $800.00. I was quite happy and surprised.

You must have had a bunch of gold. What I wanted to sell, I sold off years ago to pay bills. I got nowhere near that, but I also don't wear earrings, so my potential wins are probably much smaller than what you had. Congrats on the cash.

[Opti]

Jan 14, 2022 8:23:30 GMT -5 minnesotapaintlady said:

I've been trying to figure out what to do with the two wedding sets I have.  One was rather cheap, and I'd be ok with selling those for the price of the gold, but the other one was thousands of dollars a long time ago.  I don't suppose diamonds have much of a resale value though.

I don't know about resale value of stones. I suppose it depends on size and who you talk to. I learned years ago that generally you might get about 10 to 20% of the original purchase price if you are lucky. That's mainly because they are just buying the metal. They don't care about the artistry unless it is a place that does estate sale jewelry. 

[qofcc]

Jan 14, 2022 8:23:30 GMT -5 minnesotapaintlady said:

I've been trying to figure out what to do with the two wedding sets I have.  One was rather cheap, and I'd be ok with selling those for the price of the gold, but the other one was thousands of dollars a long time ago.  I don't suppose diamonds have much of a resale value though.

I took my old set to a jewelry store that does repairs, custom and estate jewelry in addition to new. They gave me the option of cash or a much higher amount in store credit. I took the credit and basically traded them in for some new jewelry.

[minnesotapaintlady]

Jan 14, 2022 8:27:15 GMT -5 Opti said:

Jan 14, 2022 7:15:49 GMT -5 plugginaway22 said:

Now that I am retired and have some time on my hands things are getting done around the house. I was sorting and organizing my jewelry and a friend mentioned to me that it's a good time to sell gold. Prices have been hanging around $1800/oz. Anyway I gathered a very small sandwich size zip-loc bag of broken chains, odd earrings, a pendant from the 80s, some charms from an old bracelet (all stuff I did not want). We went to the jeweler recommended by my friend and walked out with $800.00. I was quite happy and surprised.

You must have had a bunch of gold. What I wanted to sell, I sold off years ago to pay bills. I got nowhere near that, but I also don't wear earrings, so my potential wins are probably much smaller than what you had. Congrats on the cash.

How many years ago did you sell?  When I first looked into selling my wedding set in 2005 the price of gold was less than $400/oz. 

[Opti]

Jan 14, 2022 8:53:45 GMT -5 minnesotapaintlady said:

Jan 14, 2022 8:27:15 GMT -5 Opti said:

You must have had a bunch of gold. What I wanted to sell, I sold off years ago to pay bills. I got nowhere near that, but I also don't wear earrings, so my potential wins are probably much smaller than what you had. Congrats on the cash.

How many years ago did you sell?  When I first looked into selling my wedding set in 2005 the price of gold was less than $400/oz. 

Somewhere around then to possibly 2010. I don't keep track of gold prices, but I thought one time it was around $1000/oz. Again, I don't have much to sell. My wedding ring was just a white gold band. I have two things that might get $$ but I want to keep them. One is a gold frog pin which I think is 14K gold and the other is a wire work 18K gold ring. Its light, and probably not replaceable. 

[minnesotapaintlady]

Jan 14, 2022 8:50:06 GMT -5 qofcc said:

Jan 14, 2022 8:23:30 GMT -5 minnesotapaintlady said:

I've been trying to figure out what to do with the two wedding sets I have.  One was rather cheap, and I'd be ok with selling those for the price of the gold, but the other one was thousands of dollars a long time ago.  I don't suppose diamonds have much of a resale value though.

I took my old set to a jewelry store that does repairs, custom and estate jewelry in addition to new. They gave me the option of cash or a much higher amount in store credit. I took the credit and basically traded them in for some new jewelry.

Yeah, that wouldn't be a good deal for me as I am not into jewelry at all.  I'd rather take $500 cash than $1500 store credit. 

[Deleted]

Thanks for the reminder.  I have a few stray earrings for which I lost the mate and have been waiting for the price of gold to go up.  I did some calculations once for one of the on-line places that sends you a mailer and then makes you an offer when they get it back (sorry, don't remember the name).  They had their rates posted and it was maybe half the meltdown value of the gold- so, at $1,800/oz. they'd pay you $900 for an ounce of pure gold, $525 for 14K. 

And, as noted earlier, they pretty much ignore the value of any semiprecious stones or the craftsmanship and probably lowball you a lot on diamonds. I enjoy my jewelry but have never been under the illusion that it was an investment!

[Value Buy]

As Athena stated.
We tried that a few years ago. Took it to two different places. A pawn shop and a fairly well known local jeweler.
Both separated everything into the various levels (18 carat, 24 carat, etc) of the gold. Both were less than half of the then current price of gold so we did not sell it. problem is the lower graded stuff took it way down, and not enough of the good stuff to bother at the time.
Same with silver. Currently about $23 an oz try taking silver one oz bars in and see what they offer. Nothing close to it. Yes, I know they need to have a mark up or at least something way under what they get if they sell to a smelting outfit.
We did score with some of the old costume jewelery, getting more than we expected.

[giramomma]

Jan 14, 2022 8:23:30 GMT -5 minnesotapaintlady said:

I've been trying to figure out what to do with the two wedding sets I have.  One was rather cheap, and I'd be ok with selling those for the price of the gold, but the other one was thousands of dollars a long time ago.  I don't suppose diamonds have much of a resale value though.

Depending on your setting, etc, I might keep the ring from Ex 1.0 for your oldest to repurpose if he should get married some day.

I have one of my great Aunt's wedding set. I had the diamonds in her band (mostly chips) reset and I wear it on my right hand most of the time. (I haven't worn jewerly in a good year.)

I also have a diamond from my grandma in my official engagement ring. That has bad ju-ju with it. I don't want to get rid of it, but it literally has  a couple of good memories attached to it. I suppose it really means I'm not ready to make a decision on it. Which, is still OK. It's not like a ring takes up a huge amount of space.

I took a hammer to my wedding band. The diamonds are OK. Eventually I want a mother's ring for my right hand, and I'll use the diamonds from my wedding band for that. I just need one stone for the missy (and I have to find the stone I bought for DD1), and then we can have a ring custom made.

My SIL is using a family stone from her side of her family for her engagement ring. I don't remember how she came into it.

[skeeter]

Jan 14, 2022 10:23:44 GMT -5 giramomma said:

Jan 14, 2022 8:23:30 GMT -5 minnesotapaintlady said:

I took a hammer to my wedding band. The diamonds are OK. Eventually I want a mother's ring for my right hand, and I'll use the diamonds from my wedding band for that. I just need one stone for the missy (and I have to find the stone I bought for DD1), and then we can have a ring custom made.

There just has to be a great story behind that statement

[buystoys]

We need to gather my mom's jewelry and take it to be looked at.  She had good stuff and she had crap stuff.  It's all mixed together so there's no way to tell what is what.  Her rings are all taken care of.  She had five and there are five granddaughters.  They will all get one.  We're doing it as a lottery so no one can be upset by what they get.

[TheOtherMe]

My mom had two rings--a wedding band and a mother's ring.  I told my sister she has a mother's ring of her own so I would like our mom's mother's ring and that is what I got.

Dad had a Masonic ring.  He never wore a wedding ring.  I haven't heard what happened to it so I assume my sister has it.

[NoNamePerson]

Jan 16, 2022 9:29:27 GMT -5 buystoys said:

We need to gather my mom's jewelry and take it to be looked at.  She had good stuff and she had crap stuff.  It's all mixed together so there's no way to tell what is what.  Her rings are all taken care of.  She had five and there are five granddaughters.  They will all get one.  We're doing it as a lottery so no one can be upset by what they get.

That's what I did plus I added in my good stuff and crap stuff. I did ask my DIL and her sister if they were interested in any of it first. Nada and no grandkids to leave it to so I unloaded it. Should add no siblings, cousins, nieces or nephews to consider. My son and I experience full family reunion every time we get together.   

ETA: I did give my son my diamond engagement ring (the one my ex MIL wanted me to return to her) to do with whatever he wanted.

[Deleted]

A few ring stories-

My Ex's grandmother, an Italian matriarch who died at age 102, got it in her head once to buy a big ol' diamond ring- I think the darn thing was 7 carats.  No idea where she got the money since she lived pretty modestly.  When she died each of her adult kids wanted it- and then found out that the rest of the estate was minimal and they'd have to wrote a giant check to the other siblings.   They lost interest.  My Ex's sister git a appraisal and bought it from the estate.

In Mom's last months she gave me her engagement ring and an engagement ring that belonged to her great-Aunt, which was probably 100 years old and was in a pretty gold floral setting.  She wore both of them daily.  I had the diamonds taken out, added another and had them mounted in a 3-stone ring, but asked the jeweler to be careful and preserve the settings.  It turned out my sister wanted the settings.  Fine with me!  I gave them back to her and she had other diamonds mounted in them.

My wedding band from my first marriage was an eternity ring- platinum with small diamonds.  I had it cut in half and made into a pair of half-hoop earrings.  Nice symbolism cutting up an "eternity" ring!

[Deleted]

Jan 16, 2022 9:29:27 GMT -5 buystoys said:

We need to gather my mom's jewelry and take it to be looked at.  She had good stuff and she had crap stuff.  It's all mixed together so there's no way to tell what is what.  Her rings are all taken care of.  She had five and there are five granddaughters.  They will all get one.  We're doing it as a lottery so no one can be upset by what they get.

I think it’s wonderful that each of her granddaughters will get one of her rings.

I’ve never worn a lot of jewelry, but I do have a few pieces of gold jewelry from way back when. About 15 years ago, I started wearing silver jewelry exclusively. For several years now, I’ve worn several silver bracelets on one wrist every day. I also have a collection of silver rings, but I only wear 1 of them every day. The others, I wear when the mood strikes. When I wear something besides my diamond stud earrings (2 in one ear, just 1 in the other), it’s always some type of silver hoop earring. When I went natural and cut my hair off, I kept the odd diamond in that ear, and started wearing hoops every day. Now I’m back to keeping all the diamond studs in most of the time. I take them out to clean them more often than I take them out to wear something else.

When DS was here last year, we were talking about jewelry and I ended up going through my jewelry box and giving him a gold herringbone necklace that I’d had for forever and hadn’t worn in at least 20 years. The only piece of gold jewelry I’ve worn since I started wearing all silver, is a simple pearl ring my Mom gave me over 20 years ago, that I wear occasionally when I’m dressed up. A few years ago, I wore it when I was out of town and went to a cocktail dinner. While I was there, I took a picture and sent it to her so she could see I had it on while I was looking all fancy and elegant. She called me later that evening and was clearly very happy to see that I still had it and was wearing it. My Mom and I do NOT have the same tastes, she likes eccentric and colorful, I lean more toward simple and understated. She has always bought me gifts that are usually more her taste than mine, and that ring is one of the best gifts she’s ever given me. I’m keeping it for as long as I live, whether it’s worth a little or a lot monetarily.

Anyway, DS seems really happy to have something of mine that he can wear. Well, he’s actually said just that, after he went back to where he lives. Every random picture he’s sent me of himself since then, and every time we’ve FaceTimed, he’s been wearing it. I don’t think he ever takes it off. I feel happy every time I notice it.

[plugginaway22]

After cashing in that first small bag of jewelry, I came home and scouted around for a bracelet I knew was somewhere. Found that bracelet and an old men's (ugly) pinky ring that was probably DH's grandfather's. Got another $220. Feels good to clean out and get some cash.

[iono1]

Years ago when my mother & aunt (father's sister) were alive my aunt got put in a nursing home and my parents cleared out her apartment & were storing my aunt's stuff.  My mother never liked my aunt and was still upset when my aunt, who lived with her parents, got a bigger inheritance than my father did.  After my father died, she took my aunt's jewelry & some other things & had me drive her to a place where she could get cash for the stuff.  I don't remember what she got, maybe a couple of hundred dollars, but my mother was pleased that she could get revenge for my aunt getting more from their parents than my father did.  

[Deleted]

This place that buys gold was just endorsed by a happy user on the Early Retirement Board; they said others were happy with it as well.  I have no personal experience with them.  One person commented that a local "We Buy Gold" place offered them 50% of the spot price of gold for a half-ounce 24K gold coin.  That's what I've been seeing- half the meltdown value of the gold contained in the item, so if it's 14K you'd get only (14/24)*.5* the spot price.


usgoldbuyers.com

[minnesotapaintlady]

Jan 25, 2022 9:04:30 GMT -5 @athena53 said:

This place that buys gold was just endorsed by a happy user on the Early Retirement Board; they said others were happy with it as well.  I have no personal experience with them.  One person commented that a local "We Buy Gold" place offered them 50% of the spot price of gold for a half-ounce 24K gold coin.  That's what I've been seeing- half the meltdown value of the gold contained in the item, so if it's 14K you'd get only (14/24)*.5* the spot price.


usgoldbuyers.com

I think I'm going to try these guys for my wedding sets, it seems really easy and it says they compensate for the stones as well.  I'm sure it will still be a little sickening to get the offer knowing how much they cost originally, but they're worth nothing to me in the bathroom drawer.

[jerseygirl]

Jan 25, 2022 9:14:52 GMT -5 minnesotapaintlady said:

Jan 25, 2022 9:04:30 GMT -5 @athena53 said:

This place that buys gold was just endorsed by a happy user on the Early Retirement Board; they said others were happy with it as well.  I have no personal experience with them.  One person commented that a local "We Buy Gold" place offered them 50% of the spot price of gold for a half-ounce 24K gold coin.  That's what I've been seeing- half the meltdown value of the gold contained in the item, so if it's 14K you'd get only (14/24)*.5* the spot price.


usgoldbuyers.com

I think I'm going to try these guys for my wedding sets, it seems really easy and it says they compensate for the stones as well.  I'm sure it will still be a little sickening to get the offer knowing how much they cost originally, but they're worth nothing to me in the bathroom drawer.

MPL maybe think about keeping these for your sons for their future fiancées. No sentimental value for you but seems the boys have good relationships with their fathers
We’ve had a diamond in family from my great great grandmother
$$ to replace

[kadee79]

I have a lot of jewelry, some good stuff & some just costume.  I've started putting a lot of it in little tiny zip bags with written on the bag whether it's gold or costume or silver or what ever.  My DGD & DIL can fight over what they want out of it.

[minnesotapaintlady]

Jan 25, 2022 10:03:50 GMT -5 jerseygirl said:

Jan 25, 2022 9:14:52 GMT -5 minnesotapaintlady said:

I think I'm going to try these guys for my wedding sets, it seems really easy and it says they compensate for the stones as well.  I'm sure it will still be a little sickening to get the offer knowing how much they cost originally, but they're worth nothing to me in the bathroom drawer.

MPL maybe think about keeping these for your sons for their future fiancées. No sentimental value for you but seems the boys have good relationships with their fathers
We’ve had a diamond in family from my great great grandmother
$$ to replace

I don't know.  I kind of think those rings are cursed.

They just emailed me back that they only buy diamonds that are a minimum 1 carat.  My one ring has lots of diamonds, but all small.  I think the big one is a .5  Not sure I want to sell that just for the gold...

[Deleted]

During our recent decluttering binge I found a ziplock of assorted 14k stuff so I may check out a local place that buys gold.  One less thing for an executor to deal with at some point