gold jewelry

9 posts / 0 new
Last post
sp001
sp001's picture
Offline
Joined: 06/14/2011
Hat Tips: 1045
Posts: 354
gold jewelry

anybody know anything about buying gold jewelry as an investment instead of coins? this way i can kill 2 birds with 1 stone, ie, buy gift for gf and also buy something that has intrinsic value....does anyone know what kind of turnaround transaction costs i will deal with here? i mean if it costs more than 10-15% on the buy and sell side combined, i am better off sticking to coins

Edited by admin on 11/08/2014 - 06:31
bobby
bobby's picture
Offline
Joined: 06/14/2011
Hat Tips: 2892
Posts: 195
here's a good first stop

http://goldvaluecalculator.com/gold-calculator/?gclid=CLvGpKOYk6oCFRJV7AodQ1PqxQ

And start shopping pawn shops, coin stores, where ever. Free Ad Papers ubiquitously spread hither and yon. You'll figure it out. Learn the difference between pennyweight, ounces, and grams.

We got lots of good stuff several years ago at just over melt when gold was 650 to 900. Same with Sterling when it was in the teens.

jrobb316
jrobb316's picture
Offline
Joined: 06/15/2011
Hat Tips: 932
Posts: 86
I just found a brand new

I just found a brand new (worn 2 times allegedly) 14K rope chain necklace on craigslist.  I paid 150 for it, it melts currently for $250.  Total weight is 8.5 grams.  Its really nice!  So yes, there are good deals out there, and the wife is very happy :)  If I buy any jewelry it MUST be stamped its purity somewhere or I won't buy it.  If you buy new, you will always pay 2-3x what its worth in gold value.  With people running out of money, they will try to sell their stuff first before they go to cash for gold because they know those places won't offer as much as a private party.

To calculate value, take total weight of the piece x purity. 

14K= .585

8.5 x .585 = approx 5 grams pure gold

Then figure out the gold per gram price.

gold at 1600 / 31 (grams in t-oz) = $51.6 / gram

Times the 2 together.

$51.6 x 5 g = $258

Of course you can find a weight calculator and it will do it for you.

jackmeoff
jackmeoff's picture
Offline
Joined: 06/14/2011
Hat Tips: 689
Posts: 85
gold

If you are trying to keep it simple coins are your best bet. If you go to a jewelry store it can cost you twice as much as the gold content. You can find some items that are used for close to spot or even below spot but you have to calculate what you are buying. 24k is 100% so 14k is .5833 pure and so on. Just remember to

weight / purity = total gold content.

Personally I do buy some gold in jewelry form but only 10k plain rings and only because I have a friend that buys gold so he will sell it to me for 98% of spot. Just as a worst case barter item so i only have 17 rings.

Most good places will only offer you 90-93% if you are lucky.

Refiners 98-99%

We buy gold places 30-50%

Jasper Puddlemaker
Jasper Puddlemaker's picture
Offline
Joined: 06/14/2011
Hat Tips: 1879
Posts: 222
Jewelry...

Maybe not directly related to your question, but an interesting fact:  FerFAL has said that, in the Argentina situation, gold jewelry (especially chains and other jewelry with links) is useful since one can sell/exchange a small amount of gold by separating the links.  So having a few chains and necklaces around might not be a bad idea.

ouchtouch
ouchtouch's picture
Offline
Joined: 06/14/2011
Hat Tips: 588
Posts: 118
I buy some gold chains.  I

I buy some gold chains.  I stick to 22k gold.  There are stores that cater to the Asian market where it is priced by the gram, e.g. goldpalace.com.  I view it as an important diversification:  It is wearable, easy to transport, not as noticeable as coins when traveling (wear it under clothing, obviously), and divisible into links in a pinch with simple hand tools.  22k gold is soft enough that it is comfortable to wear 24/7.

Jasper Puddlemaker
Jasper Puddlemaker's picture
Offline
Joined: 06/14/2011
Hat Tips: 1879
Posts: 222
Gold chains...

They really do  have a place in this "new world" we are experiencing.  I remember a couple of years ago, on KWN, there was a discussion of how big money was moving into diamonds (in addition to gold).  The whole jewelry idea makes so much sense in this environment.   Great way to transport wealth without the hassles or fears associated with currency declarations when crossing borders.  Of course the Middle Eastern and Asian folks have known this forever, but us Westerners for the most part don't. 

Animal Sacrifice
Animal Sacrifice's picture
Offline
Joined: 06/15/2011
Hat Tips: 1357
Posts: 186
Gold Jewelry

Basically, I have my IRA entirely in gold because if it goes up I keep my wealth and if it goes down I keep my wealth. I honestly would prefer gold to drop to $50/oz so I could pull my IRA with almost no tax/penalties.

I started investing in my IRA after an stint running a pawn shop. I took only gold and platinum and palladium jewelry (scrap too) I loaned $1.00/g and figured that no one would let it go for that ridiculous price. So when no one ever came back to pick their stuff up, I just draped myself in gold - coins in bezels, men's and women's jewelry, you name it. The scrap I had my jeweler melt and refine to 18K or 22K and set with precious stones.

If you want to buy gold on the cheap, set yourself up as a pawn shop - that has been my experience. Now that I am on welfare and Medicaid I can't do this anymore but yesterday a guy at the post office called out and asked if I still bought gold and I told him I bought 14K at 8$US/ gram. He said fine but I might have lost my benefits plus I didn't have the money because it was a pretty massive man's chain with an anchor.

Ire elese owo

Ogun

__________________

//www.cultural-expressions.com/ifa/orisha/ogun.htm>

sp001
sp001's picture
Offline
Joined: 06/14/2011
Hat Tips: 1045
Posts: 354
thx a bunch guys for all of

thx a bunch guys for all of ur responses!

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "gold jewelry"