Dragaholic

iTrader: (180)

So let's say my ring total weighs 1 ounce and it was tested to 14k gold. 14 karat gold is 58% pure gold. So if 58% of an ounce is gold, and gold is $626 per 1.75 ounce, then that would make my ring $207.50 roughly for the pure gold that it has?

1.75 .58
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626 X

Splitz

iTrader: (1)

Basically yes. But again, that's if you were to call up the guys that actually BUY the gold straight off the commodities market. You John Q. Public isn't going to get THAT price retail or scrap price. You MIGHT get 10% of that as scrap. What the pawn shop/jewler is gonna do is melt down all their "scrap gold" and make rings, bracelets, necklacese and mark it up 100%. That's what I suggest you do. Gather up all your useless stuff, melt it down and make something nice out of it. But depending on how big of a piece you got, will determine what you can make out of it. It's not worth to sell it.

They will also charge labor/materials.

The only reason why I know so much, is my wife was a jewler for years in London.

Splitz

iTrader: (1)

That makes absolutly NO sense. IF you had said that about diamonds that's different, but that is absolutly assinine for testing gold. Gold is extrmely soft and plyable (bendable) so you can scratch it very easily.