Turning Your (Gold and Silver) Stash Into Cash
A few years ago, I read a post on the Mr. Money Mustache website that was a review of Midwest Refineries, a company that buys and smelts/refines metal. I had a couple of serving pieces of unused silver, so I socked that info away until recently when I decided that I was never going to actually USE the pieces and so I should see about selling them.
I had a small sterling creamer, a small sterling sugar bowl, and four sets of tiny salt and pepper shakers (the pic makes them look bigger than they are and it only shows one set of shakers). I had acquired these from a distant relative to whom I was not close and who passed 20+ years ago. This relative had expensive taste, and I did keep her set of vintage Haviland Concorde china and a Marcel Boucher "Dancer" costume jewelry brooch.
But back to the story! During my house purge a few weeks ago, I went through all of my jewelry. I am more partial to costume jewelry, but I had a few pieces of fine jewelry. I found a few gold chains and other pieces that I don't wear and have no attachment to. I decided to send these pieces as well. Keep in mind it was just a couple of very thin pieces of gold.
I sent the small box on a Monday and received a check in the mail on Saturday. I had hoped to receive $100 from my items and was SHOCKED to find a check for $300!!! SHOCKED. Turns out that gold is worth a lot, even when you just send a couple of teensy pieces. Silver ain't so bad, either.
If you have any sterling or gold pieces that you don't use, think about if you'd be better off with the cash in hand. There is not an infinite supply of metal in our Earth and I feel good that these resources are being recycled and are no longer rotting away in my cabinet. The metal can rot in someone else's cabinet now!
I had a small sterling creamer, a small sterling sugar bowl, and four sets of tiny salt and pepper shakers (the pic makes them look bigger than they are and it only shows one set of shakers). I had acquired these from a distant relative to whom I was not close and who passed 20+ years ago. This relative had expensive taste, and I did keep her set of vintage Haviland Concorde china and a Marcel Boucher "Dancer" costume jewelry brooch.
But back to the story! During my house purge a few weeks ago, I went through all of my jewelry. I am more partial to costume jewelry, but I had a few pieces of fine jewelry. I found a few gold chains and other pieces that I don't wear and have no attachment to. I decided to send these pieces as well. Keep in mind it was just a couple of very thin pieces of gold.
I sent the small box on a Monday and received a check in the mail on Saturday. I had hoped to receive $100 from my items and was SHOCKED to find a check for $300!!! SHOCKED. Turns out that gold is worth a lot, even when you just send a couple of teensy pieces. Silver ain't so bad, either.
If you have any sterling or gold pieces that you don't use, think about if you'd be better off with the cash in hand. There is not an infinite supply of metal in our Earth and I feel good that these resources are being recycled and are no longer rotting away in my cabinet. The metal can rot in someone else's cabinet now!
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