Who pays the most for your gold

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With this crazy market, now is a great time to sell any gold jewelry that you have that you haven't worn and enjoyed for a while. 

I was recently talking with someone who had purchased a diamond ring from a large chain jeweler. He purchased the ring to be a promise ring. The couple decided to break things off, and now he's looking to sell the ring. 

  The first place that he goes to is the place of purchase ( a correct move in my opinion ). The lady at the large chain jeweler says that his return period has expired, but he can trade the ring in for another piece as long as the price of the piece is at least double the price that he originally had spent. Since he has no desire to buy another piece of jewelry at this time he leaves the store and starts browsing the web for a jewelry buyer. 

  The first gold buyer that he went really only had an interest in the precious metal of the ring ( sterling silver with a touch of 14k rose gold inlay on the sides ) and suggested that he should try to find somebody who will buy it as a ring. So, he went to a couple of other "jewelry buying " places that gave the same advice. Some sound advice, no doubt, but where are these "people " who are ready to buy the ring as a ring, and not as only for the precious metal?? And.....why won't they at least just make an offer to buy his ring??

  So, the young gentleman tries another place. They closely examine the ring, and then make him an offer.....for $2.85!! The young gentleman is no longer a gentleman at all, as he paid over $400.00 for the ring just a few months prior.  What gives?!!

  So.....as the angered young man storms out of the store who made the "ridiculous " offer, let's do an analysis of the ring to draw a conclusion of value. 

  The ring weighs 2.1 pennyweights, and is predominantly sterling silver. The diamonds are very small and total 1/6th of a carat ( rounds) of i3 clarity. WAIT....i3?!! shouldn't that clarity be used for tools?? Precisely. Remember: a nice quality diamond will usually hold a lot more value to jewelry buyers than industrial quality. And 1/6 of a carat total weight is such a small quantity of diamonds, even though they are industrial quality. 

   Let's see. We have approximately 1/10 of an ounce of 92% silver which sells in pure refined form for under $30.00 per ounce. The 14k rose gold is such a small amount of the 1/10 of an ounce that it won't register on most scales. But, for the sake of our analysis, let's say that there is 1/25 of a pennyweight of rose gold. Ok, so let's see what the material value is for this ring:

      Sterling silver) $2.24 

       Diamonds.    ) $.83

   14k rose gold.   )$2.36

           Total.        )  $ 5.43

  So might I ask....who's the villain here?? The chain jeweler who had this made overseas(cheap labor) and sold this for over $400.00. , or the jewelry buying store that looks to make a whopping  $2.58?? You decide. 

  Why the great divide in pricing?? I  sometimes ask that myself. To sell a ring for $400 that has less than six dollars in materials, how can they do that?!! The chain jewelry stores do have immense buying power, but they don't seem to pass the savings to you-the customer.  Why not!! As for the answer to that question, I'm still open to answers. 

   Although usually a ring is purchased as either a token of love and commitment, or as a gift in general, it's also wise to take a moment and observe the value of the materials that make up  the ring that you are considering. The type, alloy, and weight of the precious metal. And of course-the size and quality of the diamonds. 

  Now I'm not saying that a finely made piece of jewelry should be purchased for solely the amount of the raw materials ( artisians deserve to make a living as much as anyone ). 

  But to put more of a focus on quality-and quantity of precious metals and diamonds will not only  get you a nicer looking ring for your loved one. Doing this will also ensure to minimize any losses down the road if you need to sell, or even upgrade. 

   In closing, it's always a great idea to try a local independent jeweler for some nice ring ideas....and deals. You will get more personalized service, rather than being treated like a number. And you will most likely even get a much better value for your bride t

"I've been selling my gold and silver jewelry to Rusty for as long as I can remember. He's a great guy to do business with and really appreciates gold and silver for what it is."

-Bob H.

"If you're looking for the best place to sell your gold or silver coins consider Forever Diamonds. They are honest and the owner is almost always who you're dealing with."

-Marcia M.

"I would give you guys an A+ rating all day long. You offered me the most and even gave me time to think about it. I'll be back!"

Marge F.