The Mance Posted November 28, 2014 Share Posted November 28, 2014 So a received a ring that was left to me by my grandfather. I've been assured by my Mom and my aunt that it has no familial sentimental value whatsoever. And, despite having received it from his father, my grandfather would likely encourage me to sell it, as he never wore it, and probably only kept it out of indifference and/or apathy. Anyway, the thing is a good sized hunk of gold with a diamond setting and a square of what might be white gold around the diamond. It has a stamp on the inside that says SBC 14KP, and the diamond is presumed to be real and is about half again as big around as the "O" on my keyboard. According to the note that came with the ring it was estimated (doesn't say by who) to be worth about $2000 back in 1991. In case it ins't obvious, I know approximately fuck all about gold, diamonds and jewelry in general, so I would love some advice about taking this thing to an appraiser. As far as what to ask, how many to see, whether to expect cash-in-hand or consignment offers etc etc. And, whether god-awful antique gold jewelry is the type of thing that will necessarily increase in value were I to tuck it away for my kids to squabble over when i die. I don't have any pics. Link to comment Share on other sites More sharing options...
DreamSongs Posted November 28, 2014 Share Posted November 28, 2014 Take it to get reappraised and see what it is worth now. You then have the option to sell it or wait to see if gold prices go any higher. I would keep the diamond and have it reset. Link to comment Share on other sites More sharing options...
Xray the Enforcer Posted November 28, 2014 Share Posted November 28, 2014 You're not going to get a whole lot for that gold. It's only 14 karat. 14 karat gold is currently going for $22/gram. The diamond may or may not be worth anything -- it really depends on the quality of diamond: is it clear, does it have inclusions or other flaws, what color is it...etc.Your main questions of an appraiser will involve the quality of the diamond and if the style has anything notable. My friend is a goldsmith, and the vast majority of these situations, the ring isn't worth much as an object. The value lies solely in the quality of the raw materials. So, get both estimates: value of the ring as a ring, and value of the materials in the ring. Link to comment Share on other sites More sharing options...
The Mance Posted November 28, 2014 Author Share Posted November 28, 2014 My friend is a goldsmith, and the vast majority of these situations, the ring isn't worth much as an object. The value lies solely in the quality of the raw materials. So, get both estimates: value of the ring as a ring, and value of the materials in the ring. Interesting, thanks. Would you infer anything about the quality of the diamond based on the quality of the gold? Link to comment Share on other sites More sharing options...
Xray the Enforcer Posted November 28, 2014 Share Posted November 28, 2014 Not necessarily, but in general if someone can afford a high-quality diamond, they're going to also choose 24K gold or a similar high-value metal in which to set it. All that said, you won't really know until you get the ring appraised. Link to comment Share on other sites More sharing options...
sj4iy Posted November 28, 2014 Share Posted November 28, 2014 Not necessarily, but in general if someone can afford a high-quality diamond, they're going to also choose 24K gold or a similar high-value metal in which to set it. All that said, you won't really know until you get the ring appraised. 24k gold is very soft and easy to damage. My engagement ring has a very high quality diamond, but is set in 14k gold because it is better able to take abuse. Link to comment Share on other sites More sharing options...
Xray the Enforcer Posted November 28, 2014 Share Posted November 28, 2014 Yes, this is true. Most of the rings I've seen are actually made of 18K, rather than 24K. My suggestion is that The Mance sell the gold and embed the diamond into one of his front teeth. Link to comment Share on other sites More sharing options...
Ser Scot A Ellison Posted November 28, 2014 Share Posted November 28, 2014 Thank you for this thread. I had lost my wedding band off my left hand and hadn't even realized it till I looked at this thread. It has been found. Again, thank you. Link to comment Share on other sites More sharing options...
The Mance Posted November 28, 2014 Author Share Posted November 28, 2014 My suggestion is that The Mance sell the gold and embed the diamond into one of his front teeth. Thanks, but my minions are already clamoring to use it in the focusing aperture of my new Death-Ray-O-Matic ® eta: Mwa ha haaaa! Link to comment Share on other sites More sharing options...
Tears of Lys Posted November 28, 2014 Share Posted November 28, 2014 I've sold some gold to local pawn shops and jewelry shops - mainly old jewelry that I wasn't wearing anymore. I sold an old snake chain 18" that was 14k gold for around $450. The links were all snaggled up and was useless to me. Also, I sold a Mexican veinte pesos coin from 1959 back before gold went up to its highest for much less. :bawl: (it had unpleasant memories that came along with it.) Wish I'd held it a bit longer. http://www.ngccoin.com/usercontent/images/melt_value/144_Obv.jpg Get a couple or three estimates. I was always told that stones should be removed, as you won't get squat for them. Link to comment Share on other sites More sharing options...
Fragile Bird Posted November 28, 2014 Share Posted November 28, 2014 I was also going to say, get a few estimates, because some places will really rip you off. I myself have a very reliable coin dealer who buys and sells jewelry as well, all of which gets sent off to be melted down. He pays the day's price for gold, less 8% for his profit. Link to comment Share on other sites More sharing options...
all swedes are racist Posted November 29, 2014 Share Posted November 29, 2014 Yes, this is true. Most of the rings I've seen are actually made of 18K, rather than 24K. My suggestion is that The Mance sell the gold and embed the diamond into one of his front teeth.Don't sell the gold, you're gonna need it for the gold tooth to accompany the diamond fang Link to comment Share on other sites More sharing options...
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