Buying antique 18ct and 22ct gold rings? Gold is gold.

[Foster88]

Hi all,

With the recent surge in the gold price and like many of you I’m wondering when it will stop rising. 

Ive started to buy antique gold rings, the plain bands which sadly many seem to be antique wedding rings, mostly 22ct gold and a few 18ct gold. 

I know they’re not as nice to look at as a new sovereign or a new Krugerrand but with sovereigns slightly out of reach of my budget at the moment being £275+ each, I seem to be able to buy antique rings for around spot price. 

If the gold price does continue to grow it could be a wise investment. 

Gold is gold after all. 

[Au79]

An excellent choice for yourself. It may not be everyone’s cup of tea. Thank you for sharing so that others may know themselves.

[ilovesilverireallydo]

15 minutes ago, Foster88 said:

Hi all,

With the recent surge in the gold price and like many of you I’m wondering when it will stop rising. 

 Ive started to buy antique gold rings, the plain bands which sadly many seem to be antique wedding rings, mostly 22ct gold and a few 18ct gold. 

 I know they’re not as nice to look at as a new sovereign or a new Krugerrand but with sovereigns slightly out of reach of my budget at the moment being £275+ each, I seem to be able to buy antique rings for around spot price. 

 If the gold price does continue to grow it could be a wise investment. 

Gold is gold after all. 

I buy scrap gold too - and when it goes up, swap it for coins. Its not a bad strategy - this week I shifted 100gms of 9ct at 10% more than it cost me to acquire it when spot was lower. 

[mr-dead]

Just think of your exit strategy, who will buy them in bulk and what are they paying

[ilovesilverireallydo]

1 minute ago, mr-dead said:

Just think of your exit strategy, who will buy them in bulk and what are they paying

I always aim to shift at bullion buyers who pay 95%-97% of spot. 

[Murph]

It's just a pity a lot of dealers charge way over spot for jewelry.  Maybe you're lucky and have found a pawn shop that doesn't charge too much?

[DarkChameleon]

17 hours ago, mr-dead said:

Just think of your exit strategy, who will buy them in bulk and what are they paying

Refineries...they usually p[ay the best, some metal detecting sites have them listed for their season ending money grab

[DarkChameleon]

3 hours ago, Murph said:

It's just a pity a lot of dealers charge way over spot for jewelry.  Maybe you're lucky and have found a pawn shop that doesn't charge too much?

I use jewelers to buy scrap from then cherry pick what can be sellable, I also use jewelers to consign things that are way too good and you can get massive returns on them...you just have to spend time hunting for good finds, pawn brokers I find are the least reliable source for good stuff, they want almost retail for some stuff...and pay the least for scrap.

 

Id say to stash fiat or have cash them do the tour of jewelers asking for scrap, some will sell to you as they don't get too great a deal from the scrap man who comes around every week, if you are just buying to transfer fiat to gold then as long as they test the stuff you can buy anything in 9k, 10k, 14, 18, etc and hold onto that sucker for the big ride...buying items for like 20 quid to gradually add up, that's how I got hundreds of grams of mostly 14k and a few grand of consigned stuff out there

[Foster88]

On 25/06/2019 at 00:17, Murph said:

It's just a pity a lot of dealers charge way over spot for jewelry.  Maybe you're lucky and have found a pawn shop that doesn't charge too much?

I’ve just be buying wisely. Local auction houses and even eBay, you’ve got to do you work with eBay and find auctions that others aren’t bidding on. They are there, you’ve just got to look for them under spot price. Here’s hoping the gold price keeps rising. 😬