Wednesday, April 18, 2012

Selling Your Precious Metal


Often I'm asked about how to go about selling precious metals.   Silver, gold or platinum that is not being used (earrings, broken rings, necklaces, coins, etc.), you should sell.  This keeps the supply cost lower as  precious metals are in circulation hence keeping the cost down.  I use  Rio Grande's Scrap Buying Program to sell my scraps. It's super easy to use.   But before you get there, some tips:

  1. Sort your metals. Sterling silver with sterling silver, gold with gold and by karat, and so on. 
  2. Remove any gemstones.  Rio Grande will no be able to return them if left on the metal.
  3. Weight your metals in Troy Ounces (ozt.).  1 ozt = 1.097 avdp oz.  (Yes, you can and use the small scale at the Wink Artisans studio).
  4. Fill out the "Scrap Packing List" (Remember to read the Q&A)
  5. Pack it appropriately and ship it.  I usually send it priority mail with delivery confirmation and insurance.  Since I do send higher quantities, the return may be worth the insurance just in case.
  6. Your return is usually ready within two days. 
Of course I can walk you through it once you are ready, just holler my way.

2 comments:

  1. Hope you and yours are well and thanks for the heads-up on Rio Grande, however I'm just not ready to part with all my gold just yet, lol. You'll be the first to know!

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  2. Thanks NeverTooOld... I figure you are keeping your treasures! Stay fun!

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