Hello I have 122 grams of 10K gold. I have a jeweler that is willing to trade me 2 gold Eagles 1oz coins. I am not sure if it matters but the gold is at least 18 years old. From my calculations 122 grams of 10K gold is 50.87 grams of pure gold. A friend is telling me not to trade, he is saying there is numismatics value in the older gold chains. Any input is welcome. Thanks
That is what I was thinking 10 grams of free gold? I buy metals as an investment now. I was younger and thought the chains looked cool. I am over that, and started stacking.
It sounds like there's more gold in the eagles, but which item are you going to get the most enjoyment from?
10 k gold is worth $20.68 per gram multiplied by 122 grams. So the gold value of the chain is $2522. Gold Eagle coins are around $1550 each. So buy swapping for the Eagles you are getting $500 more in pure gold. Also 1 oz gold eagles will have little numismatic value they are traded for their gold content.
Jewelers are not stupid ! Makes no commercial sense offering you such a good deal, unless the Eagles are suss. You would be surprised at the amount of quality gold chains that goes into the melt pot every year from an average size jeweller.
Just had a squiz at those pics and totally puzzled why any jeweler would offer you such a good deal The design is old fashion and all the jewelers that supplied me with pre-loved bling would have consigned them to a melt-pot or offered them to me at 3% above spot.
Hmm, had a look as well and they look just like the typical figaro gold chains. I think your jeweller might want to pull a fast one on you cos I doubt any jeweller would pay 2oz of gold for 122g of 10K gold chains. Sounds abit fishy in my opinion.
it may be that the jeweller made an honest mistake... maybe thought they were 18k. i work at a jeweller and he will make a mistake every now and again... he has a dozen things on his mind at all times... plus the phone, suppliers, new customers, watch batteries... probably a genuine mistake. why do people always say jewellers are "suss?" shiny
I think I hang around with too many of them. Probably just envious as they have no problems making 100 - 300% mark-ups while us poor bullion dealers are lucky picking up 1 - 3%
Agreed, given the greedy mark-ups Jewellers are notorious for, its hardly likely they would offer someone a "good" or even "fair" deal.. more liklely the are half eagles.. would like some specific details from OP'er else this is a hearsay thread based on an apparent word from a jeweller about a trade. Chances are we are all thinking something different to the actuality. As always Steve, you are too kind "Suss" is surely a euphemism .. retail jewellers are like mechanics, real estate agents, SEO companies - exceptions only, the rule is they are all sharks.
you should try to sell the jewellery your self. I bet that is what your jeweller is going to do (after he cleans em up) the stores where im from would get 35-4500 for that and it always will sell with time. Your guy prob already has a buyer lined up
