Great video. It's easy to get caught up in the "deep" discounts some jewelers advertise. BTW, I gave my wife a gold 20 Franc coin for her Birthday. She loved it. Yes, she is a special person.
Wow! I just wanna say I’ve been wanting this answered for so long! Ever since I went to Bahrain I was shocked how I thought gold was so cheap yet they’re the only ones not scamming people like in the US. I’m so glad I understand now and after buying gold in Bahrain I now feel like the con artist 😂 definitely feel great I bought it
This was VERY informative! Thank you for helping a first time gold buyer. I feel much more informed moving forward with my shopping for my first gold chain.
Thank you - I am overwhelmed by how supportive people have been. I am preparing some more ambitious content for the holiday season. I hope you will enjoy it.
Worth a listen. Thank you. A quick question, how do you estimate the weight of additional non-gold elements to a piece of gold jewellery such as a stone. You will often need to deduct that weight to find the true gold value.
I need to invest in an acid testing kit for any additional gold I purchase. One time I bought a gold chain that was signified as 24k gold, and looked like 24k to an untrained eye. I brought it to a local jewelry store and had it tested, it turned out to be 22k gold. While a minor difference in value, it never hurts to be able to verify the gold's purity yourself. Edit: A food scale will suffice if you are like me who buys heavier gold jewelry.
Great advice on calculating out a commodity and helping understand a market. I like to bring cash when buying at pawn shops and especially with private sales. When I make my (lowest) offer, I lay down the cash in front of them and let them count it out. There is something psychological that takes place and more often than not, they accept my initial offer.
Very nice video. Good information for people to know if they're thinking about selling gold jewelry. However, it's my experience that a pawn shop, coin shop, or jewelry store will not give you much more than 70% of melt. I hate to say it, but you will be sized up when you enter and you could be offered as little as 60% of melt. I've never heard of a store offering melt for jewelry. And yes, they will mark it up to what you would see in a jewelry store when buying. So yes, they do offer 50% off their retail price and still making a lot of money. Well done video...a great introductory course into selling and buying from a pawn shop.
I've been trying to learn as much as I can about the gold and jewelry industry and this has hands down been the most informative video I've watched since I started my research. Thank you so much for this! This is exactly what I needed. Would you happen to know where gold chains can be purchased directly from the manufacturer or wholesale?
I’m humbled by your compliment. I can’t help you on buying gold straight for the manufacturer. I think buying in Dubai is the best place to buy though.
Great video where you again hit several areas of interest. Adjusting your buying habits is a big part of stacking... but not all changes may be welcome a year later. Which explains why I have a sterling silver sombrero.
Very interesting! The current UK sovereign is essentially "rose gold" because it is 22 carat, and the silver content was dropped in (I think) 2013. Now it is gold and copper, giving it the "rose" glow and it is quite obvious when placed alongside an earlier sovereign.
@@NGRevenant I think the silver/copper ratio varied over the years and as long as some silver was present, the coin retained its "gold" appearance (more or less). The silver was finally removed around 2012/13, making the coin 11/12 gold and 1/12 copper.
I’m so happy to find this video. My mom, bless her heart, recently passed and she loved jewelry and I am in the process of getting ready to sell it. This will keep me informed on what is going on when trying to sell it. Thank you.
@@baldguymoneyofficial Where I get lost is that you stated spot price to be $1764, when in fact as of today 09/08/2024 it is $80.16 per gram, so as you can see I am confused with the calculation, if anything I though had to multiply the purity of Gold in your example of 4.66 Grams of purity by the spot price of $90.16 ??????? confused
Very useful video, BG! It's fun figuring out what your gold jewelry is worth! I went through this process recently with a small 9.5" gold chain I bought many years ago to extend the length of the chain for a pocket watch I used to carry. I have no idea what I paid for it, but it wasn't much. I was curious what it was worth. The Hallmark says "Italy" and "417" followed by an oval symbol with a line through it. Google quickly told me it was 10K. I weighed it and did the math, but I just rechecked it again today, and that little chain has a melt value of $115 now! Not that much, but it's nice to know, and apparently Italian gold jewelry carries a premium.
I think you did a WONDERFUL job with this presentation. I think this is VERY valuable information that can DEFINITELY help someone not get taken advantage of. Well done sir! Stay safe and a TREMENDOUS Thanksgiving to you and your whole family!!!
Ok, this is the best and most informative video on Gold I've ever seen in my life!!!! You answered all the questions I had and more I didn't know I had !!! Thank you so much for your hard work and research in making this video. I will be clicking the subscribe button and watching more of your content!! 👍🏼👍🏼
pawns buy at scrap prices ,if your gold is made into something and not broke sell it on line yourself, gold chain 9ct at 10g is 200 euro scrap but to the pawn or you to sell the chain is 430 euro the workman ship is also alot of the price if you or the pawn resell it, to buy the chain new from a shop will be about 600 euro ,
I found your channel because I was looking for info on how to sell some old gold jewelry that I have. Thank you for sharing your knowledge. I was wondering if you have a video on how to start investing in gold. Thank you
Very helpful video presentation. Easy math to apply. I do have a question about rings with gold and stones. If a ring has 14K stamped on it does that still indicate the percentage of the overall weight of the ring that is pure gold, even when the ring has a large diamond of about 1/2 carat, plus another 1/2 dozen or so small diamonds? AND... What if the same ring originally had no diamonds when it was stamped 14K, and the diamonds were added later by a jeweler? Does that happen? Or would the jeweler have recalculated the percentage of gold from the overall new weight of the ring, with added diamonds, and then changed the stamp on the ring from 14K to perhaps 10K? AND.. what if I went to sell the ring to a jeweler and asked them to remove the diamonds because I wanted to keep them. That would leave a diamond-less ring with 14K still stamped on the gold. Seems complicated.
@@baldguymoneyofficial Correct, but the diamonds add weight. So perhaps there is more to it than simply multiplying the overall weight of the jewelry piece by the gold purity. EXAMPLE: 8 grams total weight times .583. for 14K. You would also have to then subtract the weight of the diamonds or other precious stones to get the gold value. Agreed?
@@baldguymoneyofficial I live in Central Quebec I have had snow for 2 weeks. I do ice road trucking in the winter and in the summer I am a white water wilderness instructor. I also run some side hussles doing snow plowing in the winter and in the summer I do firewood and tree removal services. Love your content. If you drop me a email I would love to send you some pictures of the northern lights up here. They are outstanding.
Great video! Only thing that was difficult for me to figure out the purity level of 90% gold. It's less than 18k but more than 14k. I have a few 90% Swiss gold Helvetia coins that are .1867 of a Troy ounce. I picked those up because it's a great way to add cheap fractional gold sovereigns to your stack at a lower premium. Unfortunately I've heard that the sell back price for them is only about 90% of spot because I hear there less desirable and known. But I've never sold them before (and hope that I never have to) so I'll never really know for sure until I go to sell them. Great video 👍 happy Thanksgiving
Great stuff Bald Guy! I personally don’t buy it or wear. But I do enjoy sitting outside the jewelry store at the mall watching young couples shop for wedding rings. The girls face is always full of excitement while the guy has a look of confusion and hesitation on his. Whenever the wife and I drive him to town, it gives me something to do while she’s looking around.
People watching at the jewelry store! Always good fun - especially when they hear the price and make the face that says "that is a big number, I guess I am going to have to trust that they're not ripping me off". Sorry about Tennessee's loss. I have some more ambitious vids coming through the pipeline for the holidays. I hope you'll enjoy them.
This was helpful to confirm that I understand what the value of the jewelry is. However I thought you were going to also cover what to expect a jewelry store to pay you for your jewelry. Or, are you saying they should pay you what the calculated value is? One other site said to expect between 50% x 90% of the current value.
thank you. for me, it was very informative. Yes, I was crazy about white gold. Now it is rose gold everywhere, I like it, too. But I have yellow gold pieces of jewelry, sparkling and very alluring
Great content. Wish I had known this information years ago. It would have saved me money (currency) both buying & selling gold jewelry. Long before I started stacking.
For example i have old gold 10g with 20 karat. Now lets calculate ( 10 × 20 × 24k current value ÷ 24 ) but lots of shops taking 22 karat rate instead of 24 karat 🫤 what is right
Regarding retail silver bars -- I agree with bald guy money's preferred sentiment on silver bars -- though, I would add one further "dimension" to the BGM's suggestion of highly recognizable and serialized silver bars for consideration, which is -- producers who are LBMA-approved for "good-delivery" 1000 oz. silver bars, as an additional layer of acceptance. Producers making 10 oz, kilo, and 100 oz. silver bars that are recognized by the LBMA for their 1000 oz bars, include, RCM, JBR recovery, Perth Mint, and Valcambi, among others. The LBMA has a listing of good delivery producers on their website and one can even download a copy of the good-delivery certificate for a specific producer from the LBMA website.
@@baldguymoneyofficial Lol! Pinky signet ring and a panther on the other hands index finger does draw some attention but i don’t mind, i wear what I like. It’s nice to enjoy some gold out in the open and not only stashed away in the safe.
Great Video! Now that we know the gold value and worth our gold, using the example in this video of $264 What is the highest decent percentage of the buyers cut that should be acceptable? Before getting totally ripped off? Ex $264 @25% which they pay you 75% $198 and Their cut is $66 Please help, Thanks
I would say you should expect 100% of that value unless the jewelry is damaged and requires some work. Remember, it’s the gold that has intrinsic value. Somebody offering you much less than that is trying to rip you off.
My questions are: when weighing jewelry that has stones in it, does it not skew the weight and thereby the calculations? 2: should you remove any stones and appraise and sell separately? Thanks
Thanks for the response but I'm talking about Sapphiresm Emeralds and Diamonds...surley you can't just give them away...they are worth thousands.@@baldguymoneyofficial
Sadly they aren't worth much in resale if anything at all. A pawn shop might add a little money symbolically for them - and a dealer might offer 20% of what you paid (if you're lucky). Most pawn shops, including the one my friend own will pay you the gold melt price of the total weight including the stone. it sounds unbelievable, but it's true.
Thanks, great video. Can you give the approximate markup most wholesalers/distributors tack on to the item they are selling to the retail store, ....before the store marks it up. Thanks. I just subscribed.
I asked about what a gold diamond ring they were only going to give me $50.00 for the gold. The main diamond was gone but there were a cluster of smaller ones. They said they were not giving me anything for those diamonds.
My concern is, if you're shopping for vintage pieces from boutiques, are the stampings that trust-worthy? Because I have titanium gold plated pieces with 18K stampings.
Having worked in jewelry for many years, I know how to convert grams to ounces, and identify the purity of the gold to finally come up with the melt value of gold jewelry. Even knowing all of that, I still gladly bring my old stuff/scrap jewelry to a local guy who pays 80% of spot. Thats the best price I have found from a shop that gives instant cash and I believe thats fair. I just dont want to do the extra legwork online or mail-order to try to get that extra 15-20 %. Is that crazy? And I am NOT on that side of "stacking" in case of a "collapse". lol. " What people dont understand is that gold and silver wont save them during a collapse, sadly only bullets will" -Dave Ramsey
You do realize that Backyard Bullion has to send his pieces off to be assayed and it gets a hallmark before it is sent back to him prior to sale, right? Just thought I would point that out.
Like I said - I don't know exactly what the guy does and I am sure he is great. It's just not something I would ever consider stacking (poured pieces) because resale demand is low for that. That is the objective truth. Thanks for adding your comment though.
This is great for the uninitiated, concise with good examples to calculate the melt value o unwanted jewelry. It quickly gets complicated when gemstones are set in a piece, or in a consignment situation where direct resale, or disassembly and resale are involved.
Great work! Your videos always have additional helpful or interesting information that I have not seen or heard in other videos on each subject you do. That's why I subscribed.
I hate to say it but most, if not all, pawn shops and jewelry stores will only pay you spot - 10%. I called a pawn shop to test this theory and he quoted spot and then subtracted 10%. And this was for 24 k….9999 1 ounce gold buffalo or maple. I’m not saying it’s a rip off because if u bought a gold coin when it was $800 then $1600 looks pretty good. Still, selling to a pawn shop isn’t ideal. As our economy collapses I can see pawn shops paying more than spot for gold as it will become harder to find (after all the desperate people have sold their gold.) I totally agree with you about buying serialized silver bars and bullion. Same for my gold stack, I only buy recognized gold bullions coins or serialized bars.
@@baldguymoneyofficial your workout does not give a guess what the shop owner PAID for it . I want to know what you think the shop owner got in it the piece raw wholesale buy . Example if the shop owner is selling 2.3 gram of 10k baby size necklace and he wants 120$ dollars for it . Your break down Does not reveal what he bought it for , in order to find out if he bought it for 28$ total or 43$ total you need to find that out from your speculation . I reviewed your suggested offers at. 50% over market OMG NOOOOO . Negotiations in today's climate begin Dollar above what the shop owner is buying the piece for Example if he has 45$ in it offer 57$ . Etc etc etc start there Not 50%Thats way to high to start . So . Again . Tell us what he has in a 2.3 gram 10k baby size necklace ????? How much did he pay for it????
.....well dang what did Backyard bullion ever do to you. :) What about generic silver ? sunshine mint etc ? I love Brits, but i feel like the premiums on all coins is up way more than im comfortable spending. In just the last 2 years silver went up to almost 30 $ and then back down to 18$. 100% premium on ASE's is just too much for me.
I am so sorry to Backyard Bullion - he didn't do anything to me and I am sure he is a really nice guy. I just don't see much value in stuff like what he pours because of low resale demand. I think generic rounds are fine - there is a lot of demand for them these days. Check out last week's vid if you haven't seen it yet. I speak about premiums in that video: ua-cam.com/video/Z6BiKXBMrmo/v-deo.html
@@baldguymoneyofficial thanks 🙏 I have a lot to catch up to, I wish you would do just a small video on the terms and proper terminology when dealing with metals and the selling, thereof.
11:55 I've read you get 70-80% of value back when you sell it at pawn shops or jewelry stores. Does that mean if my gold is worth $1000 based on the Value of Jewelry calculation, i''ll get anywhere from $700-800?
This has a lot of great information about jewelry. I'm pretty picky about the jewelry I wear but my father inherited some and was wondering what it's worth. I'll point him at this video which should give him all the info he needs. Thank you!
I got a crazy crazy question 4 you???? I recently inherited a lot of Antique Gold.. Platinum..Silver jewelry...Alot with precious Gem's...How are these pieces with precious Gem's configured??? And some of these pieces have been 💯% ✔️ ed and are real.. with no hallmarks ??
You would likely need to contact and antique dealer to assess and appraise the pieces. I am an avid antique collector and have even bought a couple antique jewelry pieces for my wife - it takes specialized knowledge to determine the value of pieces like that. I wish I could help more. Thanks for watching.
I learned so much from watching your YT video. I feel comfortable going to place a selling my gold jewelry. I know how to figure the wt. and percentage of gold. What if you have gold chains with no indication on the K on the chain?
There’s probably not more than $100 of metal in it - plus the work - you’re looking at max $200. I would never buy gold plated though - not my cup of tea.
14k is 58.3% gold. So whatever the weight is, remember that only 58.3% of it is real gold and offer a touch over the spot price if it's used. That's the best any seller could hope for.
I was recently hit over the head by a local gold and silver dealer when I decided to sale some 20 gram PAMP SWISS bars. I trusted them to be fair but there is no such thing as fair when dealing with Bullion outlet stores. Having felt something was not right, I called several out of State dealers and learned that according to the date of my sales, I could have received $93.00+. What is the bullion investor to do?
Don't stop B.G. You are hitting it out of the park with these videos. I've learned so much from your presentations
Great video. It's easy to get caught up in the "deep" discounts some jewelers advertise. BTW, I gave my wife a gold 20 Franc coin for her Birthday. She loved it. Yes, she is a special person.
She knows you’re the Silver Sargent so gold is indeed very special
The new KC3 Britannia would be even better but so long as she is happy OK.
Wow! I just wanna say I’ve been wanting this answered for so long! Ever since I went to Bahrain I was shocked how I thought gold was so cheap yet they’re the only ones not scamming people like in the US. I’m so glad I understand now and after buying gold in Bahrain I now feel like the con artist 😂 definitely feel great I bought it
Bahrain! Great spot. I’ve been a few times - nice place to hang out.
This was VERY informative! Thank you for helping a first time gold buyer. I feel much more informed moving forward with my shopping for my first gold chain.
So happy to see this channel's strong growth, keep up the great content 👏
Thank you - I am overwhelmed by how supportive people have been. I am preparing some more ambitious content for the holiday season. I hope you will enjoy it.
Worth a listen. Thank you.
A quick question, how do you estimate the weight of additional non-gold elements to a piece of gold jewellery such as a stone. You will often need to deduct that weight to find the true gold value.
You are very articulate and very very informative. I had no clue😮thank you simplified the mystery. Now a fan subscriber!! Best to you.
Cheers!
I need to invest in an acid testing kit for any additional gold I purchase. One time I bought a gold chain that was signified as 24k gold, and looked like 24k to an untrained eye. I brought it to a local jewelry store and had it tested, it turned out to be 22k gold. While a minor difference in value, it never hurts to be able to verify the gold's purity yourself.
Edit: A food scale will suffice if you are like me who buys heavier gold jewelry.
An acid testing kit won't help. You'll need a gold kt scanner gun.
The most valuable content I've watched in a long time! thanks for sharing both buyer and seller perspectives - invaluable!
Glad you enjoyed it!
Excellent video, I did screenshot all the information. Thanks
Great advice on calculating out a commodity and helping understand a market.
I like to bring cash when buying at pawn shops and especially with private sales. When I make my (lowest) offer, I lay down the cash in front of them and let them count it out. There is something psychological that takes place and more often than not, they accept my initial offer.
Great tip! Agreed!
At least before the dollar takes a nosedive for sure!
It’s like a Jedi mind trick😂
@@noicue8078 **In my best Yoda voice:** Take my offer you will... Refuse you cannot. 😏
@@A.C._Taylor Mind tricks don't work on me, only money!
Just subscribed. Bald Guy Money lmao. Love the name. I just got into silver and gold. I hope to learn a lot with you.
Very nice video. Good information for people to know if they're thinking about selling gold jewelry. However, it's my experience that a pawn shop, coin shop, or jewelry store will not give you much more than 70% of melt. I hate to say it, but you will be sized up when you enter and you could be offered as little as 60% of melt. I've never heard of a store offering melt for jewelry. And yes, they will mark it up to what you would see in a jewelry store when buying. So yes, they do offer 50% off their retail price and still making a lot of money. Well done video...a great introductory course into selling and buying from a pawn shop.
Great video and great information. I was a screenshoting away! Thank you! 👍
I've been trying to learn as much as I can about the gold and jewelry industry and this has hands down been the most informative video I've watched since I started my research. Thank you so much for this! This is exactly what I needed. Would you happen to know where gold chains can be purchased directly from the manufacturer or wholesale?
I’m humbled by your compliment. I can’t help you on buying gold straight for the manufacturer. I think buying in Dubai is the best place to buy though.
@@baldguymoneyofficial Thank you!
Great video where you again hit several areas of interest. Adjusting your buying habits is a big part of stacking... but not all changes may be welcome a year later. Which explains why I have a sterling silver sombrero.
Very interesting! The current UK sovereign is essentially "rose gold" because it is 22 carat, and the silver content was dropped in (I think) 2013. Now it is gold and copper, giving it the "rose" glow and it is quite obvious when placed alongside an earlier sovereign.
I'd argue it happened long before 2013, sovereigns haven't looked right since 1985 at least
@@NGRevenant I think the silver/copper ratio varied over the years and as long as some silver was present, the coin retained its "gold" appearance (more or less). The silver was finally removed around 2012/13, making the coin 11/12 gold and 1/12 copper.
The rose gold appearance actually puts me off buying the sovereign, i know its desirable and recognised, i just don't like the look 😅
I’m so happy to find this video. My mom, bless her heart, recently passed and she loved jewelry and I am in the process of getting ready to sell it. This will keep me informed on what is going on when trying to sell it. Thank you.
Glad you found the video valuable. My condolences on the loss of your mother.
🙏🙏🙏
@@baldguymoneyofficial if the weight is 8 grams, on a 14 Carrot ring how much I would get paid if the Gold spot price as of today is $80.14 per gram?
@@baldguymoneyofficial Where I get lost is that you stated spot price to be $1764, when in fact as of today 09/08/2024 it is $80.16 per gram, so as you can see I am confused with the calculation, if anything I though had to multiply the purity of Gold in your example of 4.66 Grams of purity by the spot price of $90.16 ??????? confused
@@alexshatner3907this video is a year old. The price of gold has gone up significantly since then.
Very useful video, BG! It's fun figuring out what your gold jewelry is worth! I went through this process recently with a small 9.5" gold chain I bought many years ago to extend the length of the chain for a pocket watch I used to carry. I have no idea what I paid for it, but it wasn't much. I was curious what it was worth. The Hallmark says "Italy" and "417" followed by an oval symbol with a line through it. Google quickly told me it was 10K. I weighed it and did the math, but I just rechecked it again today, and that little chain has a melt value of $115 now! Not that much, but it's nice to know, and apparently Italian gold jewelry carries a premium.
It’s good to know where you stand to evaluate whether you want to keep something or not. Thanks for watching!!
This is so goooood thank you bro. I brought gold today and I got it for 1.51 mark up 45 grams 22 carat
151% markup is a good deal! I am very glad you have this knowledge. Cheers.
I think you did a WONDERFUL job with this presentation. I think this is VERY valuable information that can DEFINITELY help someone not get taken advantage of. Well done sir! Stay safe and a TREMENDOUS Thanksgiving to you and your whole family!!!
This is fantastic and so helpful. Thank you for putting this together.
Glad it helped!! Have a great day.
Nothing wrong with the video. Sounds interesting. Are you doing anything on the amount of gold unmined?
Not working on that right now. I am working on some big things for the Thanksgiving and Christmas though. I really want to deliver during those times.
@@baldguymoneyofficial i was just trying to let you know i couldn’t finish the video today. Have a great evening
Truly the best video! Thank you so much. Going to NYC Diamond district next weekend and I feel super prepared. Wish me luck lol
Good luck!
Wow very informative thank you very much
Ok, this is the best and most informative video on Gold I've ever seen in my life!!!! You answered all the questions I had and more I didn't know I had !!! Thank you so much for your hard work and research in making this video. I will be clicking the subscribe button and watching more of your content!! 👍🏼👍🏼
Cheers! Glad you liked it.
Great Guide!!!! Thank you so much! Is this method the same for silver?
Basically. For 925 silver - the purity level is 92.5%.
Love your channel. Good for the beginner. A little boring for someone with experience. Keep up the good work.
pawns buy at scrap prices ,if your gold is made into something and not broke sell it on line yourself,
gold chain 9ct at 10g is 200 euro scrap but to the pawn or you to sell the chain is 430 euro the workman ship is also alot of the price if you or the pawn resell it,
to buy the chain new from a shop will be about 600 euro ,
Thanks for watching.
I never get this notification glad find it but yes the information you giving is 100% accurate .
Super basics . But judging from the comments majority did not know this so - 👍👍👍
I found your channel because I was looking for info on how to sell some old gold jewelry that I have. Thank you for sharing your knowledge. I was wondering if you have a video on how to start investing in gold. Thank you
Thanks for watching. Here are some helpful links:
ua-cam.com/video/ZMBh2lZ1XuE/v-deo.html
ua-cam.com/video/Zvsl75PKd4Y/v-deo.html
Great walkthrough, thank you @Bald Guy Money
How do you now factor in several small pieces of diamonds in with this.
I get this question a lot - sadly most buyers will not pay you for them. They will count the weight vs the gold.
Thank you for sharing,very informative!
Just subscribed!
Thank you!
Very helpful video presentation. Easy math to apply. I do have a question about rings with gold and stones. If a ring has 14K stamped on it does that still indicate the percentage of the overall weight of the ring that is pure gold, even when the ring has a large diamond of about 1/2 carat, plus another 1/2 dozen or so small diamonds? AND...
What if the same ring originally had no diamonds when it was stamped 14K, and the diamonds were added later by a jeweler? Does that happen? Or would the jeweler have recalculated the percentage of gold from the overall new weight of the ring, with added diamonds, and then changed the stamp on the ring from 14K to perhaps 10K? AND.. what if I went to sell the ring to a jeweler and asked them to remove the diamonds because I wanted to keep them. That would leave a diamond-less ring with 14K still stamped on the gold. Seems complicated.
Hi - great question. Diamonds are added after the rings are made. 14k denotes the purity of gold in the ring and has nothing to do wit the diamond.
@@baldguymoneyofficial Correct, but the diamonds add weight. So perhaps there is more to it than simply multiplying the overall weight of the jewelry piece by the gold purity. EXAMPLE: 8 grams total weight times .583. for 14K. You would also have to then subtract the weight of the diamonds or other precious stones to get the gold value. Agreed?
Most places will just offer you melt with the weight of the stone. It sounds bad but you're not forced to sell.
I was aware of what you said, but, it was nice to see it all presented in a concise version. Thank you!
Good, helpful info. Appreciate the vid. 👍🏼
Another great video Baldguy! Looking forward to the video your working on as well!!!! Keep up the hard work your channel is top content.
Thank you Canadian Stacker - wishing you well. I hope it hasn't snowed where you are yet.
@@baldguymoneyofficial I live in Central Quebec I have had snow for 2 weeks. I do ice road trucking in the winter and in the summer I am a white water wilderness instructor. I also run some side hussles doing snow plowing in the winter and in the summer I do firewood and tree removal services. Love your content. If you drop me a email I would love to send you some pictures of the northern lights up here. They are outstanding.
baldguymoneychannel@gmail.com - would love to see the pics and share them in a video.
I am from Windsor, Ontario. Cheers!
@@baldguymoneyofficial really. AMAZING. I am going up to the ice road just after Christmas. I will get you some custom video and images!
New subscriber, thank God i found this channel, really help me a lot
Glad you enjoy it! Wishing you all the best.
Great video! Only thing that was difficult for me to figure out the purity level of 90% gold. It's less than 18k but more than 14k. I have a few 90% Swiss gold Helvetia coins that are .1867 of a Troy ounce. I picked those up because it's a great way to add cheap fractional gold sovereigns to your stack at a lower premium. Unfortunately I've heard that the sell back price for them is only about 90% of spot because I hear there less desirable and known. But I've never sold them before (and hope that I never have to) so I'll never really know for sure until I go to sell them. Great video 👍 happy Thanksgiving
Great stuff Bald Guy! I personally don’t buy it or wear. But I do enjoy sitting outside the jewelry store at the mall watching young couples shop for wedding rings. The girls face is always full of excitement while the guy has a look of confusion and hesitation on his.
Whenever the wife and I drive him to town, it gives me something to do while she’s looking around.
People watching at the jewelry store! Always good fun - especially when they hear the price and make the face that says "that is a big number, I guess I am going to have to trust that they're not ripping me off". Sorry about Tennessee's loss. I have some more ambitious vids coming through the pipeline for the holidays. I hope you'll enjoy them.
@@baldguymoneyofficial
Looking forward to the upcoming vids, never really understood how jewelry worked , thanks for the info
Thanks for your Informative and straight to the point video.Just saying been uk resident and the spot is based on usd dollar. How do we convert
Thanks body this is great and helpful, thanks
Good Afternoon Bald Guy cold and snowy in SW Michigan ! Have a Great Day !
Very educational, thank you.
This was helpful to confirm that I understand what the value of the jewelry is. However I thought you were going to also cover what to expect a jewelry store to pay you for your jewelry. Or, are you saying they should pay you what the calculated value is? One other site said to expect between 50% x 90% of the current value.
It varies from place to place.
Some good, very useful information in ths video. Great work bald money guy!
Thank you!
What a comprehensive video!
Thank you so much!
thank you. for me, it was very informative. Yes, I was crazy about white gold. Now it is rose gold everywhere, I like it, too. But I have yellow gold pieces of jewelry, sparkling and very alluring
I love yellow gold!
I have a sparkling yellow but there's no Hallmark , what should I do
This info was, well, pure gold! Thank you. 🌟
Cheers!
So can a newbie make some money buying and selling gold jewelry? Where do I get information to start, where do I buy wholesale, so many questions
I’m not a jewelry dealer - I hope you find what you’re looking for.
Great content. Wish I had known this information years ago. It would have saved me money (currency) both buying & selling gold jewelry. Long before I started stacking.
Very informative, excellent video...subbed! 👍
Thank you Tony!
Thank you. Very informative video. Great job.
For example i have old gold 10g with 20 karat. Now lets calculate ( 10 × 20 × 24k current value ÷ 24 ) but lots of shops taking 22 karat rate instead of 24 karat 🫤 what is right
That's probably additional margin they are building in for themselves.
Thanks for information it’s very helpful 👍🏻
Cheers!
Awesome channel Bald!!!
Regarding retail silver bars -- I agree with bald guy money's preferred sentiment on silver bars -- though, I would add one further "dimension" to the BGM's suggestion of highly recognizable and serialized silver bars for consideration, which is -- producers who are LBMA-approved for "good-delivery" 1000 oz. silver bars, as an additional layer of acceptance. Producers making 10 oz, kilo, and 100 oz. silver bars that are recognized by the LBMA for their 1000 oz bars, include, RCM, JBR recovery, Perth Mint, and Valcambi, among others. The LBMA has a listing of good delivery producers on their website and one can even download a copy of the good-delivery certificate for a specific producer from the LBMA website.
Thank you for adding that.
I like gold jewellery but only buy pre owned because of the mark ups. And that lion ring is fire! Got an panther ring myself😅 Buy what you like.
My wife says it makes me look like a mob boss. I'd love to see that panther ring.
@@baldguymoneyofficial Lol! Pinky signet ring and a panther on the other hands index finger does draw some attention but i don’t mind, i wear what I like. It’s nice to enjoy some gold out in the open and not only stashed away in the safe.
Great Video! Now that we know the gold value and worth our gold, using the example in this video of $264 What is the highest decent percentage of the buyers cut that should be acceptable? Before getting totally ripped off? Ex $264 @25% which they pay you 75% $198 and Their cut is $66 Please help, Thanks
I would say you should expect 100% of that value unless the jewelry is damaged and requires some work. Remember, it’s the gold that has intrinsic value. Somebody offering you much less than that is trying to rip you off.
@@baldguymoneyofficial Thank you😁
Excellent information.
My questions are: when weighing jewelry that has stones in it, does it not skew the weight and thereby the calculations? 2: should you remove any stones and appraise and sell separately?
Thanks
You will likely not get paid for the stones. I know it can sound unfair or incorrect, but you’ll find that stones are more easily bought than sold.
Thanks for the response but I'm talking about Sapphiresm Emeralds and Diamonds...surley you can't just give them away...they are worth thousands.@@baldguymoneyofficial
Sadly they aren't worth much in resale if anything at all. A pawn shop might add a little money symbolically for them - and a dealer might offer 20% of what you paid (if you're lucky). Most pawn shops, including the one my friend own will pay you the gold melt price of the total weight including the stone. it sounds unbelievable, but it's true.
@@baldguymoneyofficial why can you just remove the stones? So a diamond not set in jewelry isn't worth anything? That doesn't sound true.
@@baldguymoneyofficial why would anyone pay good money for a diamond set in a ring if it's worthless...I'm confused.
Mene is an excellent choice for gold jewelry. They sell only 24k at the current gold price (plus a fee) and buy back their wares!
What is mene? Can you share a link for other viewers please?
@@baldguymoneyofficial I keep trying to reply but it doesn't seem to take. I commented above.
Strange - UA-cam doesn't allow me to see some comments sometimes. I want to believe it's a bug.
This works great for chains and other pieces without stones or other things added, but how do you find the weight if there is added things?
They will usually count the weight and not pay you for the stone if it’s precious. Sad reality. Thanks for watching.
Great video..thanks.
How much gold and Silver should one own for the reset ? Yes if you are in the low income bracket . Please tell 🥺
Check this out: ua-cam.com/video/Oqe2ej13zLw/v-deo.html
Good video, many people don’t have any idea how to price jewelry
Thanks, great video. Can you give the approximate markup most wholesalers/distributors tack on to the item they are selling to the retail store, ....before the store marks it up. Thanks. I just subscribed.
Many shops have their own jewelry makers - so it doesn’t always work like a regular retail environment. That’s why I really can’t say.
Mention the difference between grams and pennyweight please. Many do not calculate by grams after all but by pennyweight (dwt).
I think grams is the international standard.
I asked about what a gold diamond ring they were only going to give me $50.00 for the gold. The main diamond was gone but there were a cluster of smaller ones. They said they were not giving me anything for those diamonds.
Sadly that is the norm. Diamonds are not a good investment in my opinion.
Thank you! Now to figure out the weight when it has gems in it.
A lot places will take it at the weight with the gem but won’t pay you for the gem. The world is an ugly place.
My concern is, if you're shopping for vintage pieces from boutiques, are the stampings that trust-worthy? Because I have titanium gold plated pieces with 18K stampings.
Depends on the dealer. Always determine if your trust the person selling before giving them your money. Reputation is key.
very very informative video right from the basics
Glad you think so!
Having worked in jewelry for many years, I know how to convert grams to ounces, and identify the purity of the gold to finally come up with the melt value of gold jewelry. Even knowing all of that, I still gladly bring my old stuff/scrap jewelry to a local guy who pays 80% of spot. Thats the best price I have found from a shop that gives instant cash and I believe thats fair. I just dont want to do the extra legwork online or mail-order to try to get that extra 15-20 %. Is that crazy?
And I am NOT on that side of "stacking" in case of a "collapse". lol. "
What people dont understand is that gold and silver wont save them during a collapse, sadly only bullets will" -Dave Ramsey
For a future video can you explain the purity markings on Asian and Middle Eastern gold. Bars or coins not jewelry.
Thanks for the suggestion.
You do realize that Backyard Bullion has to send his pieces off to be assayed and it gets a hallmark before it is sent back to him prior to sale, right? Just thought I would point that out.
Like I said - I don't know exactly what the guy does and I am sure he is great. It's just not something I would ever consider stacking (poured pieces) because resale demand is low for that. That is the objective truth. Thanks for adding your comment though.
@@baldguymoneyofficial No worries. Have a great day.
Thank you for your research and knowledge!
Cheers!
This is great for the uninitiated, concise with good examples to calculate the melt value o unwanted jewelry. It quickly gets complicated when gemstones are set in a piece, or in a consignment situation where direct resale, or disassembly and resale are involved.
Great work! Your videos always have additional helpful or interesting information that I have not seen or heard in other videos on each subject you do. That's why I subscribed.
Thanks Andres. I am so happy you find my videos useful.
I hate to say it but most, if not all, pawn shops and jewelry stores will only pay you spot - 10%. I called a pawn shop to test this theory and he quoted spot and then subtracted 10%. And this was for 24 k….9999 1 ounce gold buffalo or maple. I’m not saying it’s a rip off because if u bought a gold coin when it was $800 then $1600 looks pretty good. Still, selling to a pawn shop isn’t ideal. As our economy collapses I can see pawn shops paying more than spot for gold as it will become harder to find (after all the desperate people have sold their gold.) I totally agree with you about buying serialized silver bars and bullion. Same for my gold stack, I only buy recognized gold bullions coins or serialized bars.
What you say is 100% true! Spot value is the best you could ever hope to get for it and that is going to be hard to get.
Dude it’s ok to put up mark up because they also have operational expenses.
Of course it is. But it’s good to make sure you don’t overpay.
Shop owner is offering a small 2.3gram 10k baby type rope for 120$ the current value of 10k is 33$ how much does he have in the piece ?
I have explained in the video how to calculate it - should be easy to figure out. All the best.
@@baldguymoneyofficial your workout does not give a guess what the shop owner PAID for it . I want to know what you think the shop owner got in it the piece raw wholesale buy . Example if the shop owner is selling 2.3 gram of 10k baby size necklace and he wants 120$ dollars for it . Your break down Does not reveal what he bought it for , in order to find out if he bought it for 28$ total or 43$ total you need to find that out from your speculation . I reviewed your suggested offers at. 50% over market OMG NOOOOO . Negotiations in today's climate begin Dollar above what the shop owner is buying the piece for Example if he has 45$ in it offer 57$ . Etc etc etc start there Not 50%Thats way to high to start . So . Again . Tell us what he has in a 2.3 gram 10k baby size necklace ????? How much did he pay for it????
I want to know how a consumer would check a very dainty thing chain without damaging it w acid..how do u scratch it without damaging the piece thanks
I wish I could tell you - that is outside my area of expertise.
.....well dang what did Backyard bullion ever do to you. :)
What about generic silver ? sunshine mint etc ? I love Brits, but i feel like the premiums on all coins is up way more than im comfortable spending. In just the last 2 years silver went up to almost 30 $ and then back down to 18$. 100% premium on ASE's is just too much for me.
I am so sorry to Backyard Bullion - he didn't do anything to me and I am sure he is a really nice guy. I just don't see much value in stuff like what he pours because of low resale demand. I think generic rounds are fine - there is a lot of demand for them these days. Check out last week's vid if you haven't seen it yet. I speak about premiums in that video: ua-cam.com/video/Z6BiKXBMrmo/v-deo.html
Great content! As to stackables, I concur 100%! Only widely, recognisable mints and sovereign coins!
Nothing is more recognized than 90%. SAE are way to much these days. Save on the premiums and buy a Sigma Metalytics to test your generics.
Awesome video as always! Thank you sir.
Excellent video.
Thank you , pretty good video 💯
Great video. Very informative. I wondered about this for a long time but never bothered to delve into it. Thanks for the information.
This was a great video I am about to go to work for a gold bullion and coin exchange, and this was very informative and to the point 👉☝️ thanks
Fingers crossed that you crush it at the new job brother!
@@baldguymoneyofficial thanks 🙏 I have a lot to catch up to, I wish you would do just a small video on the terms and proper terminology when dealing with metals and the selling, thereof.
What are you looking for in particular?
11:55 I've read you get 70-80% of value back when you sell it at pawn shops or jewelry stores. Does that mean if my gold is worth $1000 based on the Value of Jewelry calculation, i''ll get anywhere from $700-800?
That is probably what they'll offer you.
Should I buy jewelry form online stores without being able to handle it beforehand??
If it’s a known company, yes. I don’t see much risk in that.
This has a lot of great information about jewelry. I'm pretty picky about the jewelry I wear but my father inherited some and was wondering what it's worth. I'll point him at this video which should give him all the info he needs. Thank you!
I got a crazy crazy question 4 you???? I recently inherited a lot of Antique Gold.. Platinum..Silver jewelry...Alot with precious Gem's...How are these pieces with precious Gem's configured??? And some of these pieces have been 💯% ✔️ ed and are real.. with no hallmarks ??
You would likely need to contact and antique dealer to assess and appraise the pieces. I am an avid antique collector and have even bought a couple antique jewelry pieces for my wife - it takes specialized knowledge to determine the value of pieces like that. I wish I could help more. Thanks for watching.
I learned so much from watching your YT video. I feel comfortable going to place a selling my gold jewelry. I know how to figure the wt. and percentage of gold. What if you have gold chains with no indication on the K on the chain?
That’s very odd - it’s likely not gold.
@@baldguymoneyofficial thanks
How can you price a silver necklace that is gold plated? I'm eyeing one that is 89 grams but the price is kind of high..
There’s probably not more than $100 of metal in it - plus the work - you’re looking at max $200. I would never buy gold plated though - not my cup of tea.
So if I'm looking to buy a used 14k bracelet at the moment what is the current value considering that it's used ?
14k is 58.3% gold. So whatever the weight is, remember that only 58.3% of it is real gold and offer a touch over the spot price if it's used. That's the best any seller could hope for.
Thank you so, so much for your hard work
My pleasure!
I was recently hit over the head by a local gold and silver dealer when I decided to sale some 20 gram PAMP SWISS bars. I trusted them to be fair but there is no such thing as fair when dealing with Bullion outlet stores. Having felt something was not right, I called several out of State dealers and learned that
according to the date of my sales, I could have received $93.00+.
What is the bullion investor to do?
Sorry to say - but you should have shopped around before. Lesson learned and I’m sure you won’t make that mistake again!!
How do you weigh the gold if it has a stone or other non-gold fixture?
Most places will pay you the gold value based on the weight with the stone. Many places won't even pay much or anything for the stone.