Is now a good time to scrap gold?

[snowballs mom]

My daughter has a small loose diamond she inherited from a great uncle that is the exact same size as a ruby in an old 14kt gold ring I gave her (mine from the 70s). We collected my old gold hoops I haven't worn in years, along with my high school ring (yes, they were 10kt gold in the early 70s), and traded it all in on the replacement heads and labor to refresh the ring. She now has a beautiful diamond and ruby toi et moi, for the price of me clearing out items that have not been worn in many years.

 

[nala]

So you guys use the term scrap but if you are bringing for example, a gold necklace that doesn’t have any flaws, would you expect to get at least the spot price then? @Karl_K

My math is simple. If I can get the same amount for scrapping as I can from selling on ebay minus fees, etc., then I scrapped.

 

[nala]

Bumping this thread to reflect today’s price of 3363. My jeweler offered me 38 for 10k, 56 for 14k and 71 for 18k

Soo tempting to cash in on several mistakes!

What are you all doing?

 

[Mreader]

Bumping this thread to reflect today’s price of 3363. My jeweler offered me 38 for 10k, 56 for 14k and 71 for 18k

Soo tempting to cash in on several mistakes!

What are you all doing?

Wow, I think that is a great buy price!!!

 

[stracci2000]

I'm keeping my gold. That includes scrap.
I might have to trade a gold chain for a loaf of bread in the future.

 

[diamondyes]

I’m thinking of scrapping my mistakes

 

[nala]

I was so close to pulling the trigger and then I saw this post and now I may just wait it out!

 

[LilAlex]

Close to $108/gm today for gold. If you're planning to sell, I agree now is as good a time as any. (It was $50/gm about 15 years ago so Nvidia it's not.)

Will it go even higher? Who knows? I don't gamble but I'd gamble on more chaos in the near future and not less. I know that the past does not predict the future but the recent past feels like it kinda will.