Did we get ripped off?

A

Atokad

New member
My wife had an old 14k gold ring that we had to sell today to a jewelry store. He gave us $150 for it. The ring was 10.1 grams and 14k He acted surprised that it was going to cost him $150 and made the comment that he would have guessed 60-70.

I know I should have done the research first but we had a deadline and it had to go fast :/ Now its eating at me that he may have pulled one over on us.
Anyone know what the ring should have brought?

Thanks!
 
You got about 50% of the true scrap value, which I figured to be about $297 at today's gold price. What you got is typical for a sale to a jewelry store or pawn shop.
 
Any time you sell to a jeweler or pawn shop you are paying a middle man. You are always better off, if possible, to avoid that.

It's easy to know the value of what you have in gold. Always know that when you go to sell. Don't depend on your buyer to tell you.
 
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