Featured NEWS: Record prices are triggering a gold rush of customers looking to melt old jewelry for cash

Did you see? Midwest Refiners is moving from MI to Florida - handing over the reins of the company to a new generation.

 

Had not seen this, as I have not sent anything in quite awhile.

 

I'm not in a selling mood, as I can't replace things I might sell. I DO wish there was a collector or a shop near me that might take a few things on consignment, or that would trade/swap items that I don't want to see scrapped but that I'm not in love with.

I'd rather have my pieces so I can see, use, and enjoy them. If I sold anything, it might be cost effective to reinvest the money in gold/silver, even if the market settles down, I feel like it will continue to go up.

 

Silver prices continue to soar. Up to $57.31 as we speak. Does this change your collecting? I hope that @MrNate has cashed in from all of this.

 

it only makes everyone look harder for gold and silver outliers .......

 

Doesn't change anything for me. All of the gold and silver I own is either for use or for wearing. And I'm not done using it or wearing it. I guess it just means I'll see more of those people with the little scales who weigh stuff at sales.

 

Some of the dealers at the local flea price silver jewelry based on weight now, they weigh everything!

 

Well, I'm going to take in some jewelry bits -- every little piece I can find considering the price of gold now. And yes, a few rings are going in. I will keep the stones with no idea what to do with them, but I hope my mother won't be too mad at me, LOL! My daughter has taken what she wants and I've kept quite a lot still, so...

 

I think it's becoming pretty clear that neither PM will decrease in value anytime soon. If you have it, keep it!! I'm a third gen owner.

 

to this day , most gem stones found in most jewelry items..... are not investment grade and hold little value on the secondary market..

 

I can't blame them!

 

I can't either, but I can't be bothered to go over my stock and boost prices based on scrap value. I figure as long as I make a profit on what I sell, I'm good

 

Yes, I have gathered that from a previous trip to the gold dealer. However, it may be that they can be refashioned at some point into jewelry that my kids and grandkids would like. I'm becoming less sentimental in my latter years. But there are a few things that will stay.

 

Also, if it helps you sell to someone else, everyone makes out. On the downside, taking less makes buying new stock more difficult.

Another point of course is that even last year rummage, table, etc sales were combing the donations and pulling out all of the precious metal anyway. I went to one this fall and didn't find so much as a gold butterfly back. (scored some Polish sterling on half price day though. Everyone missed the hallmarks!) A year ago, one table sale pulled out all but the few silver pins I found. Everything else was modern costume and priced into the stratosphere.

 

I was thinking , that yes, given a competent jeweller , the stones could be placed into earrings , brooch , or pendant , and made new again......... but if gold is used to make something new........ well....there's that gold cost again ...

 

I've read that the refiners are not currently accepting sterling silver.

 

A glut ?????
I thought that was their business model .....??

 

From what I've read, they're in a position to only deal with .999, which means that today's price of $1.74 per gram of sterling silver (according to "cointrackers dot com") is essentially meaningless.

As I see this, the average person will see the current price and will be piling up any sort of sterling item and hauling it to the nearest buyer. I don't have anything I'm interested in parting with at the moment, so I don't know if the jeweler I use is buying or not. I imagine he is still buying, and holding on to stuff until the refiners start buying sterling again.

 

not like 925....is that far from 999.....