Survivalist Forum banner
1 - 11 of 11 Posts

·
Registered
Joined
·
816 Posts
Discussion Starter · #1 ·
How much over spot should you expect to pay for simple 24k gold jewelry? I'm not talking about overly intricate craftsmanship, just some chains.

I have some gold and am going to buy more and figured why not get some of it in jewelry form. I just want to make sure I am not getting ripped off.
 

·
Maximus
Joined
·
12,320 Posts
How much over spot should you expect to pay for simple 24k gold jewelry? I'm not talking about overly intricate craftsmanship, just some chains.

I have some gold and am going to buy more and figured why not get some of it in jewelry form. I just want to make sure I am not getting ripped off.
All the jewlery I buy is 24k jewlery. I wouldnt pay more than a 10-25$ over spot per ounce. Usually you can get close to spot though. Coins are a little higher premium on the secondary market.
 

·
Registered
Joined
·
816 Posts
Discussion Starter · #3 ·
All the jewlery I buy is 24k jewlery. I wouldnt pay more than a 10-25$ over spot per ounce. Usually you can get close to spot though. Coins are a little higher premium on the secondary market.

Ok so that's not too much different than coins at all. Thanks for the info.
so you are from central florida? cool deal. I grew up there, east coast.
 

·
ΜΟΛΩΝ ΛΑΒ&
Joined
·
8,248 Posts
Where are you finding 24k jewlery?

Other than 24K coins on a necklace, most jewelry is 10k, 12k, 14k and 18k. 24k gold is too soft to use as jewlery--it would get bent up and mangled from everyday wear.

Coins for example are 90% just for that reason--they need to be harder to be in circulation.
 

·
Never Give up
Joined
·
7,579 Posts
If you are doing it for investment I have another idea you might like better.
Take half of what you want to invest in jewelry . Spend half on simple gold coins and for the other half and get it in cash. Get some beer,chairs get a boat if your can. Go out into the ocean take the cash out and pile it on the deck. Not sit back and drink your beer.
Now your in better shape then if you invested in jewerly. You only lost half and at least there was no stress.
Jewlery is over priced to begin with from my brothers bussiness he said they marked stuff up at 125% to 250% and the minimum. Good luck on those beers.
 

·
Registered
Joined
·
816 Posts
Discussion Starter · #6 ·
Where are you finding 24k jewlery?

Other than 24K coins on a necklace, most jewelry is 10k, 12k, 14k and 18k. 24k gold is too soft to use as jewlery--it would get bent up and mangled from everyday wear.

Coins for example are 90% just for that reason--they need to be harder to be in circulation.
ok, i don't know anything about jewelry. thanks for the info.
 

·
Registered
Joined
·
816 Posts
Discussion Starter · #7 ·
If you are doing it for investment I have another idea you might like better.
Take half of what you want to invest in jewelry . Spend half on simple gold coins and for the other half and get it in cash. Get some beer,chairs get a boat if your can. Go out into the ocean take the cash out and pile it on the deck. Not sit back and drink your beer.
Now your in better shape then if you invested in jewerly. You only lost half and at least there was no stress.
Jewlery is over priced to begin with from my brothers bussiness he said they marked stuff up at 125% to 250% and the minimum. Good luck on those beers.
I don't know if you think I'm an idiot or what, but why do you think I was asking the original question? I know there is a markup, obviously, and I know it will be ridiculous in most cases.

Some sort of markup is to be expected to price in the cost of labor and everything else that it takes to turn the metals into jewelry. I just wanted to know what is a reasonable markup so I can bargain somebody down. If they refuse to let go of it for what I consider to be reasonable, I won't buy it. a better question would be, what do people like your brother pay for jewelry, and where do they get it?

Also, your analogy is stupid. You are not 'losing' any money in the above example.

Based on this, and the fact that your needlessly condescending post is rife with spelling and grammatical errors, I choose not to take anything you say too seriously. Thanks anyway.
 

·
Maximus
Joined
·
12,320 Posts
Where are you finding 24k jewlery?

Other than 24K coins on a necklace, most jewelry is 10k, 12k, 14k and 18k. 24k gold is too soft to use as jewlery--it would get bent up and mangled from everyday wear.

Coins for example are 90% just for that reason--they need to be harder to be in circulation.
Ohh man I have been buying 24k jewlery since I was a kid. My family before that. It is very popular in Asian and Indian cultures. I have and wear my necklaces and bracelets daily (part of my edc). It is soft enough to bend, but as with any metal, the thicker it is, the harder it is to bend. Rings such as regular wedding bands will not bend unless you press down really hard. But they do scratch up easy. So necklaces and pendants are often the most popular.

In fact the clasps on my necklaces and bracelets are the "dragon clasps" that are meant to be bent and bent back repeatedly:


True that you can't bang them around like 14k but 24k is strong enough. 24k can be 99% gold and 1 percent alloy for strength. But even .9999 pure gold is still very hearty. But again, the thinner, the weaker.

As for where I get it. If your town has any metro China-town or India-town area, there WILL be a gold store that sells nothing but 24k gold. These are the best places to get it. There will be very little markup since these are investment pieces. They are not susceptable to the normal jewlery 200%+ markups because people buying here know what they are looking or and know what to pay.

You can even purchase online. But if you do that NEVER EVER purchase from a site that already has the prices marked on the webpage. These will almost always be retail markets nd marked up 150-200% I mean how do they know what daily rates are going to be for gold that day. Look for online stores that have the item, weight, Karat, item number and a phone number to contacet them for price. You will get a price that is close to spot usually.

Even MSN Shopping channel has a show called "24k gold" where they sell 24k jewlery. The prices aren't to bad either.
 

·
Never Give up
Joined
·
7,579 Posts
Im sorry if it came across that way

I don't know if you think I'm an idiot or what, but why do you think I was asking the original question? I know there is a markup, obviously, and I know it will be ridiculous in most cases.

Some sort of markup is to be expected to price in the cost of labor and everything else that it takes to turn the metals into jewelry. I just wanted to know what is a reasonable markup so I can bargain somebody down. If they refuse to let go of it for what I consider to be reasonable, I won't buy it. a better question would be, what do people like your brother pay for jewelry, and where do they get it?

Also, your analogy is stupid. You are not 'losing' any money in the above example.

Based on this, and the fact that your needlessly condescending post is rife with spelling and grammatical errors, I choose not to take anything you say too seriously. Thanks anyway.
It was not my thought when I was typing. If you want a lesson on things. Find someone in your area that buys gold and silver for profit. You will find out that they take advantage for every little thing they can bring down the price. You will get like 30 cents on the dollar. I can get more in 1 simple coin then you could get in many chains. Also how do you prove what it is after SHTF or even for anybody else. If you dont have the right stuff you cant prove anything. Get what you can deal with easy,coinage,or stuff from the mint. I prefere us minted coins because they are easy and most understand that they are gold/silver.
And again I in know way was calling you an Idiot. I was just saying it would be alot more fun without all the trouble and you would get the same result so again sorry.
 

·
Maximus
Joined
·
12,320 Posts
Jewlery is over priced to begin with from my brothers bussiness he said they marked stuff up at 125% to 250% and the minimum. Good luck on those beers.
For the most part you are correct, most jewlery you purchase at retail stores are marked up with 200-300% rate even more at department stores. So don't buy retail. I purchase gold constantly at or near spot price with little markups. But I also purchase 24k gold jewlery/coins for the most part.

These stores that sell Gold Jewlery as investment pieces have very little markup usually. You can tell the difference because at these stores, the jewlery do not have prices on the tags. Rather they have the amount of gold and sometimes the price at which they purchased that piece writen in code or even just a SKU number to punch into a computer for this info. This is because they know that the price of the jewlery will change daily. It would be sily to re-tag these items every day, sometimes a few times a day if the gold prices change drastically.

When you purchase gold jewlery with a price tag on it, you can be assured that there is a huge markup on the piece. They get it wholesale at 30$ and will price it at 100$ to ensure a profit is made.

Find someone in your area that buys gold and silver for profit. You will find out that they take advantage for every little thing they can bring down the price. You will get like 30 cents on the dollar. I can get more in 1 simple coin then you could get in many chains.
That is when you call the next person on the list. Companies/buyers like that prey on the uninformed. When you know the value of your gold, it puts you in the better position. There will always be someone willing to offer you up to 60-80%
 

·
Registered
Joined
·
663 Posts
Some 22K and 24K jewelry end up on eBay but not a lot. The S-lock pictured above is accurate, pure jewelry uses these types of locks. I personally like 18K jewelry, the yellow is nice and dark, not pale like 10K and 14K and also durable. 18K is 75% gold. 14K is 58.5% gold that's why another stamp for 18K is 750 and pieces stamped with 585 is 14K.

When buying, don't forget the gold content of the jewelry so you don't get overcharged. An ounce of 18K jewelry should be priced at 75% of the gold price as it contains 25% other metal.
 
1 - 11 of 11 Posts
This is an older thread, you may not receive a response, and could be reviving an old thread. Please consider creating a new thread.
Top