Scrap gold jewelry

[Tantalar]

I have been obtaining 10k and 14k gold jewelry here and there for about $10 each. They are never like HUGE necklaces or GIANT rings. They are fairly small in size and weight but I am certain they are worth more than the amount I am paying. I get them at thrift shops and consignment shops. I have been shocked at how low these items go for. I only buy things that are stamped with the purity and I know that this isn't always a clear indication of its true gold content and that some could not be gold at all, I still think I am making out way ahead.

Anyway my question is this... I consider 80 ounces of silver to be a fair amount for my age (24) but I think I am lacking a bit in my hold holdings. I have about 1 ounce of mixed 10k/14k scrap jewelry (including non gold attachments of course) should I sell them on EBAY and then convert them into gold coins? Should I leave them as they are? I am buying gold as an investment and as a protection of my wealth so that some day when the SHTF I will have some purchasing power. I do plan to sell off my PMs so that I can be well off in the future. I don't see any end in sight for gold and silver prices. I do feel strongly that gold will level off soon and silver will surpass it.

That being said, if you were me, what would you do with your scrap gold? I don't have any other investments or any sort. I feel very attached to my PMs though, so I don't know if I could buy into any stocks.

[Rodebaugh]

yep turn it into 1/10th ouncers.

[davycoppitt]

I am about the same age as you 25. Since I was in highschool I had a weekly schedule where I would go to every thrift store in the area and buy scrap gold and silver. I still do it, but don't find nearly as much as I use to. I saved almost all of my scrap gold. Most will dissagree, but I belive gold is gold. I love to have a pile of scrap gold.I enjoy it just as much as my coins. If a collapse happens I think trading scrap gold will keep you under the radar less than gold coins. Either way you can't go wrong with what you are doing. When all the dust settles my goal is to turn my pm's into some sort of income producing investment. What that is yet I do not know. I think all the young people who are in metals right now will be on a whole different level compared to all their peers.

[Thogey]

You guy's are way up on your peers.

It's great seeing young people get into 'responsible, long range planning" You guys are doing a good job and it seems you are self-reliant Americans, and not part of the problem.

[Tantalar]

everyone I know has a college degree and 50k+ debt. None of them hold a gram of gold or silver. They work for equal pay or less than me ($10 per hour) either doing odd jobs or what not. They drive to work too but I walk to work. Despite making only $10 per hour but working nearly full time at a gas station, I feel that I am probably taking home more $$ than many who make even $15 per hour or more when car+gas is factored in...And let me tell you, people are soooo dumb that come in to get gas. I swear, 99% of customers have absolutely no idea what is going on with the US dollar!

An interesting thing to note though, There are 5 banks, a supermarket, my job, 4 thrift shops, and a park all within a mile from my house. Oh yeah there's also a post office and a UPS right across the street. No wonder I want to live around here for a while! I am trying to buy as much scrap gold as I possibly can. Silver at $40 seems BRUTAL considering it was $28 when I got in... so I stick to buying scrap right now. I hope for a pullback so I can back the truck up however, in which case I will buy silver.

As far as gold goes, I am hesitant about getting the 1/10ers because of the premium I expect to pay for them! I guess if it is the best bet though I may just do that. Can you safely buy gold on Ebay? I am slightly worried to buy gold on ebay but there is that whole 5% cashback factor added in. Can anyone link me to a solid and legit ebayer for buying gold from please?

[fasTT]

Send me an email.

I will give you 90% of spot price for your gold scrap and can offer you 5 and 10 gram bars or 1/10th maples for 10% over spot.

email - daniel@coincanada.ca

[Rodebaugh]

You guy's are way up on your peers.

It's great seeing young people get into 'responsible, long range planning" You guys are doing a good job and it seems you are self-reliant Americans, and not part of the problem.

Thanks Pap-Pal

[tinhorn]

When I could afford gold, scrap gold, particularly plain bands, was my favorite. I think you're on the right track, and me, I wouldn't worry about converting it. Gold is gold.