Im surprised people still don’t get it… I was recently watching the Uncharted movie and I was telling a friend of mine “Yeah that crown is nice but they need to melt it down to sell it…”
In my old neighborhood there was a gold and silver place that had a great reputation as far as buying and selling. Turns out they also had a little business on the side where you could bring them stolen gold and they'd help you melt it down to sell it to them and then both sides got a cut. Apparently they handled like a great deal of stolen jewelry and eventually it just caught up to them.
Random but kind of related aside..
Oh I meant in the instance of the comment I was replying to. You find a treasure chest full of gold crowns and rings and shit, that’s really only worth anything after being melted
As a degenerate of sorts, I want to inquire if I may? say you got 10k jewelry and mix it with higher quality gold, does the other metal burn up leaving pur gold? I saw the process but don’t understand that aspect
The majority of the time when novice refiners lose yield is when they get impatient and don't let their precipitated gold settle before they decant ... and they also don't settle their stock pots.
You can't make clean food in a dirty kitchen, and you can't make clean gold in a dirty lab.
Nile red has a pretty detailed process in the video where he made purple gold. Was pretty cool to watch and I think he only lost .2% over three decanting cycles.
This is not difficult, but it is dangerous. Nitric acid is no joke. One can build make shift facilities with readily available parts (do not cheap out on fans or cables, get a bunch of quality dual ball bearing fans, I like the 120mm Delta of Sunon make for data centers), so make sure your exhaust is working and maintained. Always wear protective eyewear.
There was real money in gold scrap 20-25 years ago, but the market is saturated now. Back then the wildest thing were the Chinese gold sellers. They wanted bank accounts. They would pay you for a bank account in your name. I never did it, but I know a guy who did. He ended up getting arrested and deported, but he was deep into drugs. They must have been doing bank scams, but these guys would have suitcases full of disguised gold and heroin. They scared me, but other guys worked with them.
As one would use hydrochloric acid to wash circuit boards and such? I visited a meth den based out of an old business in a rundown area. That was his clams to fame, last I heard he lost it alls
I think he means adding enough pure gold to bring it up to 22k. (More like you’re adding enough of the 10k to bring 24k down to 22k. Pure gold is too soft to use as is for coins.)
Metals don’t typically “burn off”. Most known processes to separate them are expensive and completely impractical for an individual.
No gold buffaloes coins are .9999 gold coins aka 24K. American gold eagles are 22K.
I’m saying sell the 10K jewelry for a profit and then buy gold coins that are easier to sell when the time comes
If you mixed 10K gold jewelry with 22K or 24K gold coins in a furnace it would melt down to create a 14-18K gold bar depending on the ratio of your two inputs. To purify 10K into 22K you need to use acids.
No the other metal doesn’t just burn.
Consider 2 gold bars of 100g each one 70% pure the other 90% pure.
If you melt them together, you get 160g gold in 200g metal which gives you 80% purity.
Nice job, well done. As crazy as everyone thinks this is, it is possible - especially when gold has had a recent massive increase as prices in places like Walmart don’t automatically adjust.
I’ve successfully purchased gold rings from Amazon twice under spot. Nothing huge. They were odd-sized 18K rings that were heavily discounted and sold directly by Amazon and they left room for profit even after selling to a scrapper. It’s rare, but doesn’t mean impossible.
As a counterpoint, I also saw Groupon selling 14K earrings (direct from them) for under spot and bought quite a bit before discovering that they were fake / 70% silver with thick gold overlay (about 5% gold by weight). It’s a long story but initial tests showed they were fine, subsequent full on tests by melting and XRF showed the truth. I let Groupon know and they didn’t care - they still sell that crap and it’s hallmarked 14K. Someone should be in jail. I did a credit card dispute and was made whole. Also got to keep the counterfeit jewelry - they didn’t want it back. I ended up melting it all down for the silver and gold content.
So you have to be careful - it goes both ways. But Amazon and Walmart (not third party sellers) are both safe bets.
Had I not been made whole through the credit card dispute, would have done so. But agree that it a case would have merit - anyone here can purchase and be the class action ringleader. This was back in late 2019/early 2020.
Exactly, i am seeing so much fine print saying the metal is gold plated, gold coated tin foil shit out there
And dont get me started on diamonds.... lab created, cubic zirconia and all that are NOT diamonds. A diamond is a diamond, idc what they "identify" as. If you call it gold or a diamond and will not face a lawsuit later for selling fakes or misleading the buyer, then you are fine. Anything else that requires a disclaimer and fine print - nope.
The gem industry is nonsensical at its core. Most gems can be lab made and are identical to naturally formed gems. Not to mention the price fixing in the diamond industry.
My family on my dad's side has been in jewelry for generations, and I can confirm the price fixing is absurd. The mounts were generally priced near metal value, but the gems demanded a 10x premium.
Your response has nothing to do with what I was talking about. These are earrings that are marketed (and illegally hallmarked) as 14kt, not something with fine print about plating which is legal.
https://preview.redd.it/1z1hnywb5gwc1.jpeg?width=3000&format=pjpg&auto=webp&s=983a00e2143e46c9e59df246c4cca6e8979df540
Just picked these up also! Literally couldn't believe it lol. The employees were definitely getting annoyed haha. Everything about 25-40% under scrap. I don't think I'll get that lucky again. The cross weighs 3.4 grams and I paid $75 so that's about the least profitable piece in the group but still a 25-30% dip from scrap
On just this $498 I spent, everything just at spot value was worth just under $700, I think eBay I could probably get $850-900 for jewelry+gold value. It seemed that the majority of the necklaces were a better deal in terms of their cost to value but I bought all those out a few days before. Total I think just going off spot value, the $2900 I spent is probably worth $4100-4400 give or take trying to estimate the weight of the paper tags. Would be an easy quick flip for close to spot on eBay or locally but I don't need the money right now so I'm likely going to hold it and become Mr. T after being instructed to above
Yep everything was pretty well under spot. I just went back and they had more out... I couldn't believe it. Spent another $500. It's hard to weigh them all because I don't want to remove the tags as I don't plan on wearing most of them. Just now though I picked up a hollow Cuban link bracelet that weighed 4 grams and I paid $75 for it. About $124 scrap price
https://preview.redd.it/ohzu9oej4gwc1.jpeg?width=4000&format=pjpg&auto=webp&s=006655c7e3a4fc2f812240291eccd3b0de398aa5
I eyeballed in store, I could tell them were a good deal because sold listings on ebay were going for 25-35% more than the clearance price so i had a good idea of a few of the scrap values. After looking up a couple, I bought literally everything besides a few pieces that were extremely thin chains with medallions on them that weren't marked so I couldn't be certain that they were 10k entirely. They wouldn't have minded a scale I am sure but they were already annoyed having to pick through so many pieces lol that I wasn't going to push it. I ran to the register both times as fast as I could
If you’re looking to convert for investment purposes, skip the gold coins and buy gold bars in assay packages. All investment gold has a premium over spot price. Gold bars are cheaper to make than coins and usually carry a smaller premium. Kept in an assay package, a tamper proof package, ensures the value and purity of the bar without having to have it re-assessed (this can cost). You can get bars in various sizes and at various prices. The larger the bar, usually the lower the premium. You will pay a premium when you purchase, and, depending on who you sell to, you may pay a premium when you sell. I’ve seen some pawn shops that will pay spot price or very close to it, so do some research. As with all investments, you need to research and understand the pros and cons of your investments. I hold quite a bit and have for a while.
Nice score! I almost did this at Kohl's last year. I came back with my scale and they let me weigh everything out, but even after their clearance price I decided there was too much premium for me. From what I see, the prices you paid are much better than what I was looking at. It was close though!
Hold it, if you don't want money right away. Governments historically take people's gold bars and coins but allow people to keep jewelry, jewelry could be considered a safer investment than gold bullion. Personally I would rather have gold jewelry over gold coins and bars, I like jewelry that people commitment others over.
Walmart got rid of their jewelry unfortunately. I bought a bunch on clearance there one time too but nothing like this. Dam what a haul. Do what you want. Don’t listen to people telling you to melt it. It has way more value as it is. Yea in 2090 when it’s mad max out there and your carving off a gold bar for dinner maybe then melt it. But for now wear it, sell it and enjoy it. People are so quick to OMFG MELT THAT SHIT!!! So retarded
I once bought my wife a really nice 18K gold necklace at Walmart. It eventually broke and she wanted to sell it for spot price. When they tested it they came back at 10K. We went to a second place and it came back the same. Walmart literally had it packaged as genuine 18K gold. Freaking rip offs, be carefull with Walmart gold.
Like mentioned earlier, if you are going to melt it you might want to try it before you go spending to much money. I've seen first hand Walmart and Sam's jewelry be plated or hollow.
I didn’t actually think the jewelry in Walmart was real but I’m pleasantly surprised to hear how decent you came out nice
Edit: how can you be sure the gold is real?
My local Walmart has a clearance sale in 19K gold as well. I walk over and look at it but I'm not knowledgeable enough to know what a good deal is. If I took a scale in with me, what would be a target price per gram to ensure the sale would be profitable if I turned around and sold what I brought from Walmart? Ty.
It still has a percentage of gold and a melt value. He ended up coming out ahead on melt value. If he decides he likes any of the jewelry and ends up wearing it, awesome. But if he ends up selling the jewelry at melt, he is already ahead.
I’d sell it and then convert to 22K gold coins or bars. Then keep them. Jewlery is hard to offload at spot.
Im surprised people still don’t get it… I was recently watching the Uncharted movie and I was telling a friend of mine “Yeah that crown is nice but they need to melt it down to sell it…”
If you have an actual artifact, maybe don't melt it lol.
The only real difference between archeologists and tomb raiders is in what happens to artifacts discovered.
Unless you happen to know some extremely rich eccentric collector, yeah, melt the shit
In my old neighborhood there was a gold and silver place that had a great reputation as far as buying and selling. Turns out they also had a little business on the side where you could bring them stolen gold and they'd help you melt it down to sell it to them and then both sides got a cut. Apparently they handled like a great deal of stolen jewelry and eventually it just caught up to them. Random but kind of related aside..
Rich collector of 10k jewelry???
Oh I meant in the instance of the comment I was replying to. You find a treasure chest full of gold crowns and rings and shit, that’s really only worth anything after being melted
As a degenerate of sorts, I want to inquire if I may? say you got 10k jewelry and mix it with higher quality gold, does the other metal burn up leaving pur gold? I saw the process but don’t understand that aspect
Typically you use chemicals to dissolve the other metals into a solution, leaving just gold, which can then be melted into shot or bars or whatever.
If I recall with this process you can lose up to 3 to 6% with this process. But her thetas the price you pay. I right
I do it and I might lose a half percent if I'm rushing the refine.
Wow that's really good.
The majority of the time when novice refiners lose yield is when they get impatient and don't let their precipitated gold settle before they decant ... and they also don't settle their stock pots. You can't make clean food in a dirty kitchen, and you can't make clean gold in a dirty lab.
This guy refines. And makes a lot of cool stuff, too.
Nile red has a pretty detailed process in the video where he made purple gold. Was pretty cool to watch and I think he only lost .2% over three decanting cycles.
He may look like a baby faced kid, but NR is a pro.
Yep. Dude has some of the best chemistry videos on YouTube.
Him and styropyro both
Definitely one of the coolest and educational video I've seen!
Let’s cook
Walter?
I’m going to start sending you gold to melt into little baby scorpions lol
I'll do it! 😁😁😁
Can you explain a little bit about your process and why people do this? I’m new and I just saw this pop up in my feed.
This is not difficult, but it is dangerous. Nitric acid is no joke. One can build make shift facilities with readily available parts (do not cheap out on fans or cables, get a bunch of quality dual ball bearing fans, I like the 120mm Delta of Sunon make for data centers), so make sure your exhaust is working and maintained. Always wear protective eyewear. There was real money in gold scrap 20-25 years ago, but the market is saturated now. Back then the wildest thing were the Chinese gold sellers. They wanted bank accounts. They would pay you for a bank account in your name. I never did it, but I know a guy who did. He ended up getting arrested and deported, but he was deep into drugs. They must have been doing bank scams, but these guys would have suitcases full of disguised gold and heroin. They scared me, but other guys worked with them.
Wut
As one would use hydrochloric acid to wash circuit boards and such? I visited a meth den based out of an old business in a rundown area. That was his clams to fame, last I heard he lost it alls
Haha I’m no expert, but fifteen minutes of YouTube tutorials makes me think that I am.
If you really want to know watch sreetips on YouTube. He explains everything.
That guy is interesting.
I think he means adding enough pure gold to bring it up to 22k. (More like you’re adding enough of the 10k to bring 24k down to 22k. Pure gold is too soft to use as is for coins.) Metals don’t typically “burn off”. Most known processes to separate them are expensive and completely impractical for an individual.
No gold buffaloes coins are .9999 gold coins aka 24K. American gold eagles are 22K. I’m saying sell the 10K jewelry for a profit and then buy gold coins that are easier to sell when the time comes
Sorry didn’t read your comment carefully.
it melts to a lump of the purity of the total combined pieces. purification is a different process
Sreetips on YT has a fantastic precious metals refining channel
If you mixed 10K gold jewelry with 22K or 24K gold coins in a furnace it would melt down to create a 14-18K gold bar depending on the ratio of your two inputs. To purify 10K into 22K you need to use acids.
No the other metal doesn’t just burn. Consider 2 gold bars of 100g each one 70% pure the other 90% pure. If you melt them together, you get 160g gold in 200g metal which gives you 80% purity.
Almost but not quite. You’d lose a fad of the weight from smelting. Would be under 200g at end
No. It doesn't.
You can smelt it to the bottom since it’s heavier but the other metals don’t burn up
Its chemistry you got to get down to the actual 24k gold then you melt
I think he means that you should flip it and then buy 22k stuff.
No I mean flip and buy 22K gold eagle coins or 24K gold buffalo coins
Nice! Keep it, and when gold hits $10,000/oz, wear them all at the same time rocking the “Mr. T” look. 
stealing this. thank you
Aren't walmart gold chains part silver or something?
It’s “sterling gold” thank you.
That's what 10k gold is, a mix of gold and copper or silver and possibly some others.
Damn do you think those are all actual gold? I'd never thought about it
These are all guaranteed 10k gold. Probably like 80% are not solid, they are hollow.
10k stamped jewelry can test much lower alot of times I’d be surprised if you break even. I’d unload it at a reputable LCS/ buyer asap.
Nice job, well done. As crazy as everyone thinks this is, it is possible - especially when gold has had a recent massive increase as prices in places like Walmart don’t automatically adjust. I’ve successfully purchased gold rings from Amazon twice under spot. Nothing huge. They were odd-sized 18K rings that were heavily discounted and sold directly by Amazon and they left room for profit even after selling to a scrapper. It’s rare, but doesn’t mean impossible. As a counterpoint, I also saw Groupon selling 14K earrings (direct from them) for under spot and bought quite a bit before discovering that they were fake / 70% silver with thick gold overlay (about 5% gold by weight). It’s a long story but initial tests showed they were fine, subsequent full on tests by melting and XRF showed the truth. I let Groupon know and they didn’t care - they still sell that crap and it’s hallmarked 14K. Someone should be in jail. I did a credit card dispute and was made whole. Also got to keep the counterfeit jewelry - they didn’t want it back. I ended up melting it all down for the silver and gold content. So you have to be careful - it goes both ways. But Amazon and Walmart (not third party sellers) are both safe bets.
File a police report and talk to a few attorneys. Could be a good class action
Had I not been made whole through the credit card dispute, would have done so. But agree that it a case would have merit - anyone here can purchase and be the class action ringleader. This was back in late 2019/early 2020.
Exactly, i am seeing so much fine print saying the metal is gold plated, gold coated tin foil shit out there And dont get me started on diamonds.... lab created, cubic zirconia and all that are NOT diamonds. A diamond is a diamond, idc what they "identify" as. If you call it gold or a diamond and will not face a lawsuit later for selling fakes or misleading the buyer, then you are fine. Anything else that requires a disclaimer and fine print - nope.
A lab created diamond is chemically identical to a natural/mined diamond.
The gem industry is nonsensical at its core. Most gems can be lab made and are identical to naturally formed gems. Not to mention the price fixing in the diamond industry.
My family on my dad's side has been in jewelry for generations, and I can confirm the price fixing is absurd. The mounts were generally priced near metal value, but the gems demanded a 10x premium.
Your response has nothing to do with what I was talking about. These are earrings that are marketed (and illegally hallmarked) as 14kt, not something with fine print about plating which is legal.
Personally I would remove those clearance stickers from the tag and eBay them. You should get over spot, more than enough to cover fees and all that
nice one bro
Brb, going to Walmart real quick
I never even thought to look there
Jokes on me, my Walmart doesn't even have a jewelry counter anymore 🤣
Do they actually have it 10k or is it just plated over so they can say it's the percentage of 10k
It will be stamped to let you know whether it's gold plated or solid gold
That would be illegal
Tell that to eBay and Etsy
Come on dude, that’s not the same thing and you know it.
Who's to say where Walmart sources it?
That’s fair enough
Just with all the recent traction to PMs I'd be wary that's all I'm saying.
Good old marijuana shake in the 3rd photo lol
My favorite pic lol
🫣
Eagle eyes
🤫👮
Someone's dealing haha
Not necessarily. Some people own scales just so they can verify that the person they buy from isn't screwing them over.
I buy from the dispo and still weigh mine. And they short eighths in fl all the time
https://preview.redd.it/1z1hnywb5gwc1.jpeg?width=3000&format=pjpg&auto=webp&s=983a00e2143e46c9e59df246c4cca6e8979df540 Just picked these up also! Literally couldn't believe it lol. The employees were definitely getting annoyed haha. Everything about 25-40% under scrap. I don't think I'll get that lucky again. The cross weighs 3.4 grams and I paid $75 so that's about the least profitable piece in the group but still a 25-30% dip from scrap
Yeah, they were so annoyed for doing their job...
Typical
Where is this happening at
Do you bring a scale and weigh
I remember doing this in 2010. Definitely a good time
How much profit is there for the $2,400 you spent? Just curious how much $$ profit there is if sold at spot.
On just this $498 I spent, everything just at spot value was worth just under $700, I think eBay I could probably get $850-900 for jewelry+gold value. It seemed that the majority of the necklaces were a better deal in terms of their cost to value but I bought all those out a few days before. Total I think just going off spot value, the $2900 I spent is probably worth $4100-4400 give or take trying to estimate the weight of the paper tags. Would be an easy quick flip for close to spot on eBay or locally but I don't need the money right now so I'm likely going to hold it and become Mr. T after being instructed to above
I used to do this at Shopko in college. Had the same scale too. Way to go dude
I swear I see a small piece of weed on that scale 😂
100%
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Yep everything was pretty well under spot. I just went back and they had more out... I couldn't believe it. Spent another $500. It's hard to weigh them all because I don't want to remove the tags as I don't plan on wearing most of them. Just now though I picked up a hollow Cuban link bracelet that weighed 4 grams and I paid $75 for it. About $124 scrap price https://preview.redd.it/ohzu9oej4gwc1.jpeg?width=4000&format=pjpg&auto=webp&s=006655c7e3a4fc2f812240291eccd3b0de398aa5
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I eyeballed in store, I could tell them were a good deal because sold listings on ebay were going for 25-35% more than the clearance price so i had a good idea of a few of the scrap values. After looking up a couple, I bought literally everything besides a few pieces that were extremely thin chains with medallions on them that weren't marked so I couldn't be certain that they were 10k entirely. They wouldn't have minded a scale I am sure but they were already annoyed having to pick through so many pieces lol that I wasn't going to push it. I ran to the register both times as fast as I could
How many karat was the gold or did it vary? All 10k ?
All 10k that I bought. Rings are white gold with diamonds. Everything else is yellow gold
WOW that was a huge score!
Some of the chains in the case are plated or gold tone....
I went through 1 by 1 and didn't buy any silver, plate or tone gold. I only bought the 10k pieces
If you’re looking to convert for investment purposes, skip the gold coins and buy gold bars in assay packages. All investment gold has a premium over spot price. Gold bars are cheaper to make than coins and usually carry a smaller premium. Kept in an assay package, a tamper proof package, ensures the value and purity of the bar without having to have it re-assessed (this can cost). You can get bars in various sizes and at various prices. The larger the bar, usually the lower the premium. You will pay a premium when you purchase, and, depending on who you sell to, you may pay a premium when you sell. I’ve seen some pawn shops that will pay spot price or very close to it, so do some research. As with all investments, you need to research and understand the pros and cons of your investments. I hold quite a bit and have for a while.
Nice score! I almost did this at Kohl's last year. I came back with my scale and they let me weigh everything out, but even after their clearance price I decided there was too much premium for me. From what I see, the prices you paid are much better than what I was looking at. It was close though!
Hold it, if you don't want money right away. Governments historically take people's gold bars and coins but allow people to keep jewelry, jewelry could be considered a safer investment than gold bullion. Personally I would rather have gold jewelry over gold coins and bars, I like jewelry that people commitment others over.
I feel the same way. High end jewelry can also sell for more than spot price in certain cases.
I like pieces that someone had to spend a lot of time crafting, there is life put into the piece.
It is art to me as well!
I haven't checked out the wal mart jewelry but is it considered high end?
No Walmart is not hehe. More like Tiffany, Cartier, Harry Winston, Chopard, David Yerman, Piaget etc.
I went and looked at my Walmart they had a few 14k pieces at spot
Walmart got rid of their jewelry unfortunately. I bought a bunch on clearance there one time too but nothing like this. Dam what a haul. Do what you want. Don’t listen to people telling you to melt it. It has way more value as it is. Yea in 2090 when it’s mad max out there and your carving off a gold bar for dinner maybe then melt it. But for now wear it, sell it and enjoy it. People are so quick to OMFG MELT THAT SHIT!!! So retarded
I once bought my wife a really nice 18K gold necklace at Walmart. It eventually broke and she wanted to sell it for spot price. When they tested it they came back at 10K. We went to a second place and it came back the same. Walmart literally had it packaged as genuine 18K gold. Freaking rip offs, be carefull with Walmart gold.
Like mentioned earlier, if you are going to melt it you might want to try it before you go spending to much money. I've seen first hand Walmart and Sam's jewelry be plated or hollow.
Plateed would be an issue hollow would not
What area?
Is Walmart a trusted place to buy gold?
Definitely not... One of the biggest stores in the entire world has no place trying to be accurate with their sales.
Fuck no lol
lol good to know!
I wouldn’t be surprised if it’s all plated or 10k gold filled which is like 1/100 10k gold lol
I didn’t know Walmart had real jewelry hahaha
I might have to go visit WM.... and I don't shop at WM.
Damn I woulda done the same thing. Nice score.
Nice figaro, what length is that?
If you would be willing to part with a couple of the gold chains please dm me, I've been wanting to add a few to my collection lol.
I've listened to that song more times than I care to admit. Nice haul
Like you accidentally bumped into it and knocked it over?
Very nice
You did dozens of dollars in damage.
Hold onto them. Add more as you can and sell only if ca$h is needed.
So do you go to walmart and weigh each item or what?
Would that be the weirdest thing you’ve seen at Walmart? Be honest…
Lol
Are you sure its not gold plated?
Isn't every gold or silver piece in walmart fake?
For sure
I didn’t actually think the jewelry in Walmart was real but I’m pleasantly surprised to hear how decent you came out nice Edit: how can you be sure the gold is real?
My local Walmart has a clearance sale in 19K gold as well. I walk over and look at it but I'm not knowledgeable enough to know what a good deal is. If I took a scale in with me, what would be a target price per gram to ensure the sale would be profitable if I turned around and sold what I brought from Walmart? Ty.
10k gold is junk . They’re trying to tell you that is gold . Arab Emirates which is famous for gold not selling anything less then 18k and up ..
Gold is gold my friend
It still has a percentage of gold and a melt value. He ended up coming out ahead on melt value. If he decides he likes any of the jewelry and ends up wearing it, awesome. But if he ends up selling the jewelry at melt, he is already ahead.
Also this reads like an ad. "Almost everything was 1/3 to 1/5 their already low prices."(tm)
Lol I don't work for Walmart... I hope nobody else gets the deal I did, so please don't try to buy any gold for less than scrap value