Is buying jewelry at or very close to spot a good thing?

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I can’t shell out for those big bars, you know? But I’ve been hustlin’ and scoring some sweet deals all over the web and hitting up going-out-of-business sales and estate sales in person. Found a bit of scrap here and there, but mostly snagged full-blown jewelry pieces like rings, pendants, chains, and bracelets – and got ’em at or pretty darn close to the spot price. You know, usually jewelry’s pricier because of that jeweler’s markup and the craftsperson’s cut, right?

For the short haul, it kinda feels like I’m onto a sweet deal ’cause I always see those chain and bling prices way higher than what they should be, considering their weight. So, I’m just curious about how collectors look at this whole scene.

One day, I’m dreamin’ of having my own furnace to turn my 10k and 14k stuff into pure 24k bars. But it ain’t about making bank, it’s more about having that high purity gold. I’m thinkin’ about meltin’ down the scrap pieces and stuff I don’t rock anymore, you know?

5

If you plan to refine it yourself eventually, it’s a decent deal. If you plan to sell the jewelry, it’s not. Most places will pay below spot because of the extra cost and effort involved in turning scrap into something useful.

5

Refining jewelry to 24k gold is possible, but it requires knowledge, the right chemicals, and safety equipment. It can be done, but it’s not without risks.

5

Ultimately, all gold holds value, but jewelry may not sell at the same price as a gold bar. The purity and quality of jewelry can vary, making it less valuable by weight.

5

It’s possible to find jewelry below 70% of spot, and reinvesting the profit from selling it can be a successful strategy. However, this approach may make you less interested in buying bars and coins.

<strong>NancyTreasureHunter</strong>

NancyTreasureHunter

5

It’s essential to understand that “spot” refers to the price of a 100oz contract with delivery, not retail jewelry. Try to get as close to spot as possible but expect to pay above that for most jewelry.

<strong>GoldSavvy</strong>

GoldSavvy

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5

Buying jewelry for investment purposes might not be ideal, as you may not get the spot price when you sell it. However, if you like the jewelry and plan to wear it or give it as gifts, it can be a worthwhile purchase.

<strong>DavidGoldInsight</strong>

DavidGoldInsight

5

Some collectors prefer interesting jewelry over bullion. It’s possible to find jewelry around spot price, and it adds variety to a collection.

5

I’ve considered buying small denomination gold coins to incorporate into custom-made jewelry. Where can I find the best places to buy these coins, as I thought they were rare?

<strong>EvaSmith123</strong>

EvaSmith123

5

Consider buying small denomination gold coins as an alternative to jewelry for investment purposes.

<strong>LiamPreciousMetalFan</strong>

LiamPreciousMetalFan

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