Why Owning Jewellery & PM Junk Can Be Good

[Oz Waver]

In a SHFT environment if you have a gold coin people are going to think you have more (coins/bars) when you go to cash it in. You may look prepared (because you are) and may give off mixed messages or raise suspicion at the very least.

However if you have a bit of jewellery or broken bits n piece, I'd imagine few would question you where you got it from, when the time comes to sell or trade it.

Thus it would attract less attention. Junk silver is not bad either in terms of 'finding' a few coins. I think think that looking desperate when parting with jewellery will leave people thinking less and there's less chance of "there's more where that came from".

Personally I think having a mixture of bars, coins, junk and a little cheap jewellery is the way to go if you are an 'event planner", like choosing the right tool for the job (or trade in this instance).

[SNICKLE 1980]

probably something that would come to ones thoughts naturally in such a case, but a good idea nonetheless. and i love the term "event planner". we have alot of event planners on this forum.

i know i have a handful of small rings, silver necklaces and maybe even a diamond or two. hell those who are are married could probably pull off the "poor me with just some scrap" routine for eons. in this day and age, even our poorest families have a piece of jewelry. (unless they sold it to cash4gold)

[glockngold]

I couldn't agree more.
All 14K
I just have to think up a story of what I did with all my wives...

[Oz Waver]

I couldn't agree more.
All 14K
I just have to think up a story of what I did with all my wives...

Omg that's funny! Classic.

Yeah snickle, event planning management jewellery group in session on this thread.

[Mr. Shiny]

Glock-n-Gold,
I think your scale is broken, it's registering 975dwt (48.75ozt) or ~1.5 kilos. Those are awfully big bands to weigh that much.

[SNICKLE 1980]

he had awfully big wives...

[glockngold]

it's registering 975dwt

Yeah, I wish!

There's a decimal in there that didn't make it in the photo.

[argentos]

I couldn't agree more.
All 14K
I just have to think up a story of what I did with all my wives...

You still weigh in pennyweight (dwt)? You must be even older than me.

[Not Sure]

Sterling silverware drinkware...anti-bacterial beverage containers and emergency money in one!

[faith]

I understand and like the idea of the safety aspect but don't you think folks get ripped off more when selling their jewelry than in selling their PM coins/bars?
Awhile back I had been thinking of Indian jewelry as a form of PM diversification since much of theirs is 24K but don't know enough about it. I'd be ripped off more than likely.

[southfork]

Unless you can buy the junk for well under market you take a beating when you sell, sterling is bought at around 12/23% under melt at most places Ive seen, and the ratio is worse for 12 to 24K gold jewelry.

[glockngold]

Unless you can buy the junk for well under market you take a beating when you sell, sterling is bought at around 12/23% under melt at most places Ive seen, and the ratio is worse for 12 to 24K gold jewelry.

Well, sure.
You make your money when you buy, you just wait to collect it till you sell.

I hope no one here expects to walk in to a jewelry store & buy a new piece & later get anywhere near what they paid when they sell.

In the OP's SHTF, there may be a time where a piece of quality jewelry passes under the radar. And if you are waiting to get cash from the coin shop, the zombies will have cleaned those guys out right after the grocery store.

[cpthnsolo]

Meh, you guys are missing out who don't buy sterling for melt or less. I mean, it's nice to buy tube after tube of eagles I suppose, but why wouldn't you buy a kick-a$$ sterling set for melt on occasion? Everyone needs a big silver goblet !

[Not Sure]

Everyone needs a big silver goblet !

One? LOL

[southfork]

Meh, you guys are missing out who don't buy sterling for melt or less. I mean, it's nice to buy tube after tube of eagles I suppose, but why wouldn't you buy a kick-a$$ sterling set for melt on occasion? Everyone needs a big silver goblet !

If you go to sell it you will lose more, dealers sometimes buy 999 at melt and over but they wont pay melt or over for sterling.

[Gcubed]

Scrap must be refined. Guess who pays.

[~BS]

I've bought a bunch of scrap sterling and gold jewelry. Probably won't need them for barter or whatnot, but thought it wouldn't really hurt.

Buying scrap gold or silver for spot is a bad idea. Fair value is probably 70-80% of spot for various reasons. Gold maybe a bit higher. Part of it is the hassle of dealing with plated, fakes, under karated, and stones. Even if you get "clean scrap", you still have to test it, which takes time. If you go on eprey, you can buy scrap sterling for spot all day if you really wanted to. Hell, I'd sell you my scrap sterling for spot all day. I'd even "clean" it for you too! *gathers up candleholders & hammer*

My opinion is that scrap gold is a PITA, scrap silver WAY moreso.