Gold formed into a piece of jewelry will always be worth more than that same gold melted down. We do not recommend melting down old masonic rings.
Can I save money by melting down my old gold jewelry and putting it into a new ring?
No. We do not buy old gold for weight value however you are likely within 5 miles of many places that do. The value of gold is universal and it does not matter who you sell it to. Because your gold is in the form of jewelry, it is only going to be worth what is called the "melt value". This is not the "spot" value that is most commonly referenced in regards to precious metals. It is rather a percentage of the spot value because there will be additional costs involved with converting your gold jewelry back into tradable, pure, gold bullion. It doesn't hurt to check with a few places though to make sure you are not getting low balled. Remember, most gold jewelry is only 10k or 14k, barely half the purity of pure gold. Any stones or enamel on your ring are going to add grams to the overall weight but those grams may not be worth what the gold is worth. At the end of the day, your jewelry when melted down is probably not worth as much as you think it is. We recommend taking old jewelry to a consignment shop where it can be priced more appropriately for what it is.
My old jewelry has sentimental value, I would really like to use it in a new ring!
Melting down your old gold for sentimental value is a request we may be able to accomodate. Contrary to popular belief, it is actually more expensive for us to do that so there is often little to no cost savings. For this reason we do not recommend this practice however as masons, we understand why you might want to do it. In cases where we do use your old gold in a new product, we are unable to guarantee an overall purity of the metal because we cannot be certain of the purity of what is getting mixed in. If your old jewelry contains a diamond or other stone, that may be a more practical portion of the item to transfer into a new piece.
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