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Scrap Gold Buyer Secrets - How Much Money Did We Get ?

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hey it's done the auction professor here

I'm gonna scrap some gold today and

we're gonna take you along I'm gonna

show you where I go it's the same place

I've been going there for three or four

years excellent people but let's head

off there right now so here we are out

of state jewelers this is the one I

always go to before I picked a place to

go and saw my gold I would call around

and see who pays the most for gold

usually there's one in every town that

pays more than all the other ones and

this is just the one that does it

as you can see it's a state jewelers

they're open in just a few more minutes

here so I've got just a couple of

minutes to wait but we're gonna take it

in and as I showed you I do have it all

separated this is the bag of gold and

we'll see what we get for it so again 15

20 bucks I have invested into this hey

how we doing doing good how you doing

pretty good I'm done yeah and if I'm not

mistaken you own the place is that not

good yeah my son miles hey how we doing

there I have a gem question for you too

so that might be

I've actually separated it on I usually

just kind of bag it up separately in

here what we do is we go through all the

different characters it's different for

sale yeah they should everything that I

have marked with the care they're

actually marked I use the loop and

double checked on the home now this one

in here that ring I'm almost sure is 10

carat and then there is a face piece

that I think is 14 i rudimentary got an

x-ray spectrometer yeah I was gonna ask

you about that I know you guys have had

that and I've seen up here before yeah

it works real well the old fashioned way

is with nitric acid and I don't I've

done that I'm just never in and it's not

healthy for you what we do we separate

like we we like the older jewelry this

was from like 1910 yeah I pay a premium

I pay over gold for it and we would

restore it

put a new stone and an oh yes yeah I

found many of these and sometimes I run

into these that don't have any markings

but that ones does it yeah most of them

are 18 karat some are cladding them yeah

I had a platinum on once before too like

a lot of this is bulk purchases and in

fact you know some of the people that I

would have gotten some of this now the B

I'm almost sure I've had one or two of

those in the past that's that's been

gold yeah some of them are Masonic some

of them are played young and some are

platinum but we'll be able to tell yeah

I didn't think this was gold but I

didn't want to get poked on the way over

no that's gold filled and there's other

ways to do it you know we got a strong

magnet yeah I def t five pounds so just

didn't want to get poked yeah I don't

think those are but I thought since I

was coming I just threw in my little jar

and I figured they're usually marked on

the post

yeah I looked for that too but I

couldn't find anything else this someone

take over to the x-ray spectrometer

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yeah see I didn't know if that was

because it's marked 10k and then 14k you

can tell it's solid gold at least where

it's broken at so I think we paid a

dollar for that broken ring same here I

started collecting MiFi my father gave

me his stamp collection when I was 7 and

ever since then I've been in a paper

comics you know anything pretty much

vintage did coins too effective my my

son's got a my collection now he gave it

to the kids one thing about I'm gonna

put this over to the 14-karat one thing

about the spectrometer just like testing

gold with nitric acid you have to scrape

it a little bit make a little mark so it

can yeah that's right

penetrate that gold film so I'm the

asset I'm gonna just make a line on

these it'll tell major you know jewelry

you know I bought a fighter for 21 where

most people I know when I first diamonds

are always good when I first was looking

to sell I we called around and you paid

the highest out of everybody in town

that I talked to everything on a

spreadsheet

and then anything that's nicer that's

resellable will pay way over gold so

we're not just scrap tires you know a

lot of this is scrap and not with the

scrap we're able to pay a little more

because what we do is gonna repurpose it

well melt it down will you read alloy

ahead pure gold to it and then we use it

for

so you increase the from like 14 18

carat or something along I'll probably

take 14 karat down to 1000 K so you're

reducing very interesting okay yeah I

was hoping that one was I know that the

be they've made 10 karat once and for

Accenture

so our scales are all certified the

state comes enhancer to fathom what's

gold running right now right now

fourteen hundred twenty seven dollars

brown and we update that throughout the

day

yeah I'd imagine so I usually check it a

couple of times a day if I'm messing

with it like this one actual gold on it

for the ring for the ring that's

eighteen nineteen twenty-four

it's like eighty one dollars that's at a

hundred percent and this I would pay

$100 for and a lot of times you have the

older things will make a mold of it and

will make oh we do them in silver it's

pretty interesting I didn't know you do

do you have vacuum chambers and the

whole works the cast yeah we have the

same thing we have degasing vacuums and

pressure tanks we have made probably

about 500 600 rings in a day you know i

have dis finishers you know I've got it

down to a science

vestment casting the spin cast never

works off vacuum it's older equipment

but it works good so why update so it's

a vacuum as well when you're casting

yeah we just have a cheapo spin cast or

that we made those but yeah you don't

get the consistency yeah of short the

main thing with because we do different

colors of gold and you need different

temperatures so we have something that

holds it oh is that the difference and I

didn't realize it was a temperature that

caused this dissolves just scrap well

there's like 15 invested into this and I

don't even really have that just because

we've already sold stuff you're saying

Lots

yeah what they want because we don't

actually get a how long am i sending it

down yeah this stone was in this pin and

the other part of its there but that's

why I figure there might be just a

chance I'm looks like it's probably

glass yeah we got meters that can tell

it then there's a problem whether it's

synthetic but synthetic well created

well really I didn't know that yeah I

guess it's basically the same thing as a

real one it's just created that's where

the gemologist comes he can see bromine

little bubbles yeah I could see bubbles

in there but you know I'm not into gems

themselves scrap different story but

yeah

I buy a lot of gemstones I've got a lot

of like Alexandra my wife has a pendant

that has opals on it would you be able

to replace a no it's no problem I have

others that work directly for us we have

gemstones on here and it's really easy

it's a vintage piece you guys like to

have it and that's a Brimfield piece

actually what I think about it I think

it is confidence we're real good at

restoring

older jewelry most jewelers don't know

how to restore it because they polish it

too much and it don't need to be

polished too much I like the patina I'm

not sure oh yeah definitely so this also

would be considered scrap

yeah that's just a chunk of 10k I think

ring I didn't even think it was real at

first total comes out to five hundred

and seventy dollars so that's pretty

good on what I've got into it oh yeah

definitely so I will go ahead and sell

it off with me I know you need a

driver's license yeah for those who

don't know you do need a driver's

license well the thing that is we carry

two different licenses to state license

works a lot of jewelers Dahl

yeah I didn't realize it was that high

still I hadn't looked at the gold price

in a while so you don't tweet so much

I'm not a speculator so I buy sell

making shipment it's very interesting

yes right quite surprised it was that

much honestly maybe we can come back and

you can show us around maybe one day I'm

someone interesting I'd love to see the

your bench area and who works too in

those days the kilns the whole works we

also do which is nice to me we have a 3d

drawing machine ad so we're able to send

our customers a rendition they can

change the color of the color of the

stone you know do a three-dimensional do

you have a 3d printer that you you know

do tests on as well - or we do a lot of

custom work we have an artist Courtney

that is a jeweler which is very hard to

find interesting yeah we'll definitely

have to come back and take a look around

maybe one day you can show us the

analyzer over there - oh yeah that's

pretty yeah I like it even the asset

because you know for years you know it's

still caustic yeah I know they have a

tester or a handheld one that runs like

four or five I've got three of them are

they are they good yeah they are they're

fairly good the thing is you still have

to scratch it you know if you don't

scratch it then you're only doing the

surface and it's not letting the intern

nothing will penetrate is there one of

those handheld testers you'd recommend

yeah only one

called the key tester oh wow that's

pretty interesting what is that run just

curiosity so um it's probably around 325

oh well that's very reasonable yes yeah

they went down we met this guy in

Brimfield that designed it

oh the design this actually he designed

it like in the 90s and it looked like a

boat old meter and he goes let me see

that ring of yours and he put it on

their brake don't care wow that's pretty

fast and then someone bought the rights

off the family I guess from several

tools out of Chicago is that just a

jeweler supply company and they're

revert I get a lot of Mike's advice okay

well I appreciate it I appreciate it but

but it's real easy you know you are

taking care for the yes

see they're cold steel house gonna say

that one does leave like it's 18 just by

the looks on a comparatively I'm not a

pro what I've seen enough too cold in my

day so your son started off the same way

if lately you know I used to take him

around when he's nine years old

cuz I sold wholesale jewelry you know

you store soon and everyone goes oh he's

so nice but I gave him a percentage of

what I sold so he is just trying to

figure out his percentage at every

dealer that I felt - yeah I remember the

suit days I was a regional for a long

time and it was super tie whenever I

visited some other sides see so you just

put it on your mouth this one has got a

high Joey is better to have a high

County yeah a lot of times the Italian

gold people don't realize it's 14-karat

gold but they warms up with a higher 82

so you're pretty sure we gotta have so

many different things yeah just like in

what we do - we have a ton of different

em this is just the first test okay then

it goes to rod and what'swhat's this one

you got to hold that one up to the

Presidium Jim test is this like probably

the best one you would recommend well

you know it's for the money it is what

is one of those run a feeling I'm

probably about oh well that's again very

reason yeah but it won't tell you if

it's real they don't tell you if it

passes the test yeah I like it

but mainly because aquamarines and gluto

passes are so close this will

distinguish it right away

yeah I'm always iffy on some of the

earlier ones but since that's from

probably 1920s or 30s piece I thought

there might be a chance yeah that was

the only drawback - it's definitely bad

yeah I figured the reason I say when you

flip it on the backside if you look

around the very edge has some white yeah

how's it looks like it's almost like

layered you know maybe did a lot of odd

like dublin's where they actually fused

the real Staller

to synthetic stone really yeah that's

kind of crazy to even think about that

but we need all this how often do you

ever get taken for something if you

don't mind me asking honest with you it

out of five buyers that we probably get

six buyers I'm the one that's more

relaxed and I usually have it somewhere

in my office so I can see it right now

adays are making so much phony stuff I

mean they're putting heavy layers and

old I just don't take the time to really

dig in my son told me that one of the

latest reports from the government was

that 75 percent of all bullion silver

and eBay alone is fake that's a huge

amount you have different testers for

then now the spectrometer you still have

to drill it so even if you had like a 10

ounce bar silver you'd have to drill a

10 ounce bars of gold where they use

tungsten which has the same weight rise

yeah cuz the the one here three ounces

of pure gold seven ounces of tungsten

but they have what's called a sigma test

which is more like you just put a wand

over it and it'll tell you if there's

anything else in it wow that's $4,000 I

don't need it because I don't buy

bullion the bullion and a lot of those

bigger coins we just send down to a coin

chat because but you know the bullion

and that 68 points roughly total waste

well it's 14-karat even put them all in

on categories on your receipts in the

cinemas yeah everything completes every

night you know we were on leads online

they want us to buy everything because

it's a fake crew now they can catch

something so we work with them all the

time we take pictures of the drivers

license that's where we scan over there

yeah so I figured out and pictures of

the jewelry too so how often do they

come back and say hey this is stolen

it's not that often if some don't seem

right we call the police just to be safe

said oh yeah just to make sure that you

know if the jewelry don't match the

purse if sometimes it's not you know

very interesting that I watched some of

the the ponchos and one of the things

they say as they bought rings when

something like that happens you're out

the money is that not correct I have

know how precious metals license in the

law states that they reinforce first me

or the insurance and then they go after

so that's like a separate air separate

insurance that maybe not everybody would

have or is that anybody needs it's not

too many people have an Ohio precious

metals license we do I think we're the

only jeweler in Toledo it does have one

hence why most people end up going here

I would say probably yeah but you never

know you know we get people coming here

because of our

and we we encourage people to shop

around if you call us up we'll say shop

it around and they always come back yeah

that's exactly why I've come here for I

think we've been coming here for three

or four years now you know not

constantly but no as we get stuff put

together

I figured you must just because if

anybody's smart would be calling around

to see the one that pays the highest way

yeah Myles he's going through in this

state you know 11 kilos of silver

jewelry that was the bucket IDs only buy

they buy a lot of estates and things

like that

so I said an auction house and Milo's no

no my house was my son he's Bo okay okay

okay I got you I got you

well I appreciate your time and thank

you very kindly

good to have you here thanks a lot well

we're back um hopefully that gave you

some thoughts on this here is the

receipt so you can kind of see I blocked

out my name but you can see 570 bucks as

I said I've got maybe 15 or 20 bucks

into the junk gold that I sold in

honesty I don't really have anything

into the gold they were bought in Big

Lots and it's just stuff that showed up

I wasn't buying stuff to find the gold

but as I said in the past it just turns

up in lots that I buy custom jewelry

that somebody didn't check correctly

pieces from like big bulk Lots at estate

sales or even from the local live

auctions many times people will miss

items like that so hopefully that gave

you some thoughts gold swapping is one

of the easiest things you can do it's

easy to find many people don't really

know the value they won't take it into a

shop or anything like that but we swap

out gold all the time silver especially

also all of it goes including gold

filled so if you get gold filled as well

and have enough of it they will buy that

off so especially right now because gold

is extremely high right now as you heard

so anyway that's what I have for you

today hopefully that gave you some ideas

and some thoughts if you enjoyed the

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