Wednesday, December 7, 2011

Cash for Gold?

I'm thinking about selling some gold jewelry.  No, this isn't a "Gift of the Magi" situation where I have to sell precious things to buy Christmas gifts.  I don't even have to sell the jewelry at all.

My thought is:  The price of gold is crazy high right now.  I have several rings from when I was little that I didn't even wear then (only 10k gold, so not worth much). I've got various gold earrings missing mates, etc.  I have a 14k gold rope necklace that I never, ever wear.  It's yellow gold.  I don't do yellow gold and despite knowing this, family members persisted in buying me yellow gold jewelry when I was younger.

Frankly, I much prefer white gold or sterling silver.

We also have my original engagement ring- the one Tim proposed with.  It's bulky and frankly very ugly. That's why it's not the engagement ring I wear.

My point is, all of this is just sitting around, being worthless to me.  I could try to sell it in pieces on craigslist, but that seems like more hassle than it is worth. I think I could take it in to a jewelry store and get a good price on it all.  Then I could use the money on something worthwhile.
Note: I would never send my gold away in one of those envelopes, having no idea how much money I could get for it.  To begin with, once you put it in the mailbox, that gold is irretrievable.  If you don't like what they send you money-wise, to bad, so sad, it's already been melted down and they can't track it anyway.  These are scams.

Sentimentally, I wouldn't mind keeping the gold necklace and charm.  It was a gift, after all.  Then again, I really don't ever wear it.  Eventually it will get lost or stolen.

So really, the most responsible thing seems to be to just let it all roll...right?

Ugh.  Maybe I'll see what Tim thinks.  Of course, I can pretty much tell you what he'll say right now. "It's up to you.  You don't have to sell it, but you can if you want to.  Whatever you think is best."

That can be so unhelpful.



  1. Honestly, if you don't wear the stuff I see no reason why you shouldn't get money for it which you can apply to things you NEED.

  2. I'm in the same state of mind. I used to be a jewelry junkie. Not so much now. I just have some favorite pieces that I wouldn't sell. So I went thru the jewelry box and came up with a good handful of culls. Put it on the rabbit scales and there's quite a bit there! Some 14K, some 10K, some silver. Now trying to decide where to go with it. There's so many buy gold joints around here, I don't know which would be good (as in honest).

  3. I can't find it right now, but there are sites that will give you a rough estimate on what your gold is worth. Google gold prices and you should find some calculators. That might get you off the fence.

  4. That's a good point. I sort of checked it out last night- an ounce of 14k gold is worth over $1,000! I am not sure I have quite that much, but shoot, getting $500 for it all- that's a car payment and then some!

    I am with you Dennie, I'm having trouble deciding where to take it. I'll probably take it to 2-3 places and get several estimates. I don't want to let it go for pennies and find out it was worth dollars!