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Cash for gold question

Discussion in 'Members' Lounge' started by corvetteguy78, Feb 10, 2015.

  1. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    Anyone ever do cash for gold? Do these places pay you current value of gold or try to rip you off? I know this is a bad example but it seems like when I watch Pawn Stars Rick always pays the current Melt value to their customers. I am not sure if that is normal.

    I have 1.6 OZ in 14k
    .4 OZ of 10k
    2.3 OZ of 925 Sterling Silver
    and 1 Oz of .999 Silver(1990 Giants NFC Championship Coin, not sure if it has collectors value)

    Trying to figure out what i should accept for it all
     
  2. Briansol

    Briansol Admins Admin VIP

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    Put it away. gold is in the tank right now. wait a year or two for it to come back up.
     
    tab and 99sidude like this.
  3. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    do you mean "cash for gold" like on tv or just selling gold for cash? it's vastly different.

    and B is right. Gold is literally down 50% from it's highs. Euros will have to bounce back to weaken the dollar, strengthen currencies and oil.
     
  4. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    Yeah like walking into a store and selling your jewelry and coins and shit. I would hold on to it but i need new kitchen cabinets/counter tops in my condo rental as well as a new carpet in the master bedroom. This shit is just sitting around collecting dust.

    I found an App on Google Play and its basically telling me i have $1400 or so worth of gold/silver at 100% value.

    So that is what I am trying to figure out, what will these places pay? Is it market value at the time you go there or is is like some god awful offer like 75% of value
     
  5. Briansol

    Briansol Admins Admin VIP

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    go see fast eddy or good ol' tom and get some quotes
     
  6. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    lol really? or are you joking? I always figured those places would be the biggest rip off ever
     
  7. B16

    B16 Super Moderator VIP

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    The stores you walk into to sell your gold are a major ripoff.
     
  8. chadcharb

    chadcharb Well-Known Member VIP

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    There's a rare coin shop here where I work. I took 30oz of silver in there a while back and they gave me $1 under current market value. I felt like that was pretty fair, I would imagine there's other places that do it the same way. I would never do any of those mail in deals
     
  9. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    your best bet is to literally just hit the phones. Call any place that buys coins, bullion, jewelry, and stones. It's going to take some leg work, but you should be able to get 50-70% of current ounce prices.
     
  10. TurboMirage

    TurboMirage YEEAAAHHH VIP

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  11. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    Hmm i just got a quote for 1281.17
     
  12. reckedracing

    reckedracing TTIWWOP VIP

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    i believe the places that offer cash for gold usually try to stick you for 50% of value "because we have to melt it down and have overhead"
    a scrap yard might even give you better value, depending if they buy precious metals.
    like others have said, gold is down, its a foolish move to sell it now. precious metal prices fluctuate like any other market.
    buy low and sell high.
     
  13. Briansol

    Briansol Admins Admin VIP

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    do you NEED counters, or want them?
     
  14. reckedracing

    reckedracing TTIWWOP VIP

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    precious metals tend to sit around collecting dust, its sort of what it does... its on the top 10 list of favorite activities for precious metals.
    along with not oxidizing, and hide and seek champion 20,000 years running.
     
    DarkHand, tab, Drake and 3 others like this.
  15. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    need....it's an original kitchen from 1974...when i bought the condo in 2006 they were in bad shape, warped cabinet doors that don't close, broken drawers that sag, i would be getting a 10FT laminate counter top for $150, home depot cabinets, and 79 cent per square foot laminate flooring from Lumber Liquidators.

    The condo just needs to be freshened up.
     
  16. Jeef

    Jeef NO MA'AM Moderator VIP

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    Beckers has the gold buying places scattered around the area. Do you have a jeweler that you go to and trust? I would try them. Get a few quotes and play the places off of each other. Some pawn shops say they will pay top dollar. A coin store opened up recently on main st in Portland that I heard was pretty good, maybe for the coin.
     
  17. Briansol

    Briansol Admins Admin VIP

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  18. get_nick

    get_nick These snozzberries taste like snozzberries... VIP

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    yeah, great time to sell.

    [​IMG]
     
  19. corvetteguy78

    corvetteguy78 Well-Known Member VIP

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    yeah gold is just tanking lol...I just hold on to this stuff for awhile.
     
  20. awptickes

    awptickes unimpressed by you VIP

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    You'll be lucky to get 50% of spot, which is known as "scrap price."

    If you can, you're better off melting it down yourself.
     
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