# Wonder what a 10k college ring will go for if i sell it to the jewelry stores that run those ads.



## memphislawyer (Mar 2, 2007)

Got my old college ring, 10k gold, and with the ads running on selling it for scrap, wondering what it would go for. I read that they average 20 grams and gold with it being about $1600 for a troy ounce, average price would be around $250 or so at most places. Does that seem right? Any one done this and got any guidelines? I mean, the ring has sat in my drawer for over 20 years easily and never been worn.


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## Acme (Oct 5, 2011)

I don't know about those cash for gold stores, but it looks like you could get $300 to $400 for it on eBay.


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## TheGreatTwizz (Oct 27, 2010)

I would say that's a bit on the light side. Just do the math on the purity of 10k (roughly 41.6%), and the per ounce price thereof (~650/oz), and the per gram (31g to a troy oz). Either way you break it up, I'd guess that it should be worth in the $400 range.


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## memphislawyer (Mar 2, 2007)

Weighed the ring on a postal scale, 0.7 ounces, so 20 grams. take one gram off for the stone, so 18 grams. The melting offer is usually a bit less than $20 a gram, and I got an offer locally at $16, so about $288 or so locally, maybe squeeze a few dollars to $300 or so is what I am thinking. But that is at the places that advertise they buy and sell and I guess they just try to get as much bulk gold as they can and make it in volume?


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## Balfour (Mar 23, 2012)

But do you really want to get rid of it? Is it something you'll regret in 20 years?


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## Canadian (Jan 17, 2008)

Why don't you give it to a son or daughter. I have a gold ring given to me by my late maternal grandfather. It is gold he mined in the Caribou and the diamonds game out of a long dead ancestor's teeth.

It's not a school ring, but instead of selling it, he gave it to me, with the idea that my son would want it. I never wear it, but it's a nice way to remember him.

Tom


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## eagle2250 (Mar 24, 2006)

Do yourself and your heirs a favor...unless it must be done to put food on the table, keep the ring! Where's your sense of tradition, my good man? :icon_scratch:


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## loarbmhs (Sep 17, 2011)

First, on the price...Don't think of a straight conversion from the spot price of gold to the weight of your ring, even after discounting for it being only 10K: the shop you're selling to has to make money, so they're not going to give you the true $400-ish "melt" value. Which means the $250 figure sounds about right--maybe $300 if the dealer is feeling charitable that day.

As for tradition and all, I'd keep the ring. I still have my 10K college ring, and wear it proudly, decades after graduating. And even if you don't wear it, you can, as others have suggested, give it to a spouse/child/grandchild to wear as a ring, a bauble around their neck or just a sentimental keepsake. The $250 will be a distant memory a month after you spend it. A ring (like the diamond tag line) "is forever."


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## Petersmith (Sep 27, 2017)

Acme said:


> I don't know about those cash for gold stores, but it looks like you could get $300 to $400 for it on eBay.


When such kind of problems occurs don't sell your gold ,you must pawn gold item to the pawnbroker, from there you can get enough money which you will not get worth selling it.


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## ran23 (Dec 11, 2014)

At 60, my wife and I sold a handful of our gold. My class ring 14K, chains, Swiss watch (gold case, never ran right) and all of her stuff. See that I hold some gold coins, I probably had a good feel about selling that stuff.


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## SG_67 (Mar 22, 2014)

Petersmith said:


> When such kind of problems occurs don't sell your gold ,you must pawn gold item to the pawnbroker, from there you can get enough money which you will not get worth selling it.


Are you by chance a pawn broker?


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## Mr.D (Aug 2, 2015)

Jewelers often give very low amounts for what they term "scrap gold." It is usually just not worth it unless sold on eBay as Acme said. And then using "reserve price" to keep the item from being sold dirt cheap on that website. Gifting it may be the best bet.


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## SG_67 (Mar 22, 2014)

G Gordon Liddy will buy it.


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## Mr. B. Scott Robinson (Jan 16, 2017)

I pawned my high school class ring a few times when I was starving shortly after my University studies, but I always paid to get it back. We had a sketchy pawn broker close to campus. He would take your Emory diploma and loan you $15 on it. That was good for a tank of gas or a weeks worth of Ramen noodles. 

Cheers, 

BSR


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## eagle2250 (Mar 24, 2006)

The resale shop at our old church in Indiana was the frequent recipient of donated old jewelry that to my eye didn't look like it was worth much. However the shop would accumulate a quantity of such items and take them to one of two pawn shops in town that offered the best prices. The amounts of money received were frequently surprising generous!


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## 16412 (Apr 1, 2005)

Some years ago on TV news they found that the local pawn shops payed the highest price (Seattle area) which was a surprise.

Keep the ring to give to a grandchild. It has more value that way.


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## FJW (Jan 25, 2012)

Jeez, I read the title as if you had a $10,000 college ring!


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## Mr.D (Aug 2, 2015)

FJW said:


> Jeez, I read the title as if you had a $10,000 college ring!


You are not alone - I read it that way too.


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