What’s the best way to sell an old gold class ring?

[kath.layn]

I’ve been a seller for awhile, but I’ve never sold jewelry.  I have an old (1942) 10K gold high school ring with a ruby (I guess)  that has absolutely no sentimental value to me at all.  It weighs about 14 grams.  What’s the safest and best value way to sell it? Thanks for any insights.

[simba6 · Accepted solution]

No transaction here is 100% safe and you should never sell an item you can't afford to lose.  That is not a very high value item.  I would not use ruby in the listing unless you know for sure what it is as you could be doing a return.

[silverstatetreasureboxes]

@kath.layn 

That's about $350 in scrap according to calculations.  Don't expect to get that much though. You may also want to see what a local pawn will give you. That Ruby may be just a red stone as well.

[nobody*s_perfect]

I agree with the above advice that you should sell it locally for scrap. Take it to a couple of local jewelers and get their prices.  Take out the "ruby" first so they don't deduct an unreasonable amount of weight off of the gold weight.

[worldcoinauctions]

In a class ring the "ruby" is probably synthetic corundum (synthetic ruby and sapphire has been around since the 1870s at least). Your sale is going to be mostly based on the gold scrap value unless the school has some collectible value. You probably would be better off selling it directly to a gold buyer. Check around, in my area you will find buyers offering 50% to 92% of the scrap value. 

[12345jamesstamps]

Sorry everyone....but anything of real gold sells rather well on eBay. And rather quickly. I have sold a few items here.

I spent like 20 minutes listing such items with the descriptions and then they like sold in like 5 minutes after posting them.

The title is a gold ring. Pawn shops will give very little for it. You can inquire at a jewelry shop as to the value and then sell it on eBay. 

Seller will have to show inside of ring so buyers can see 10K of course. It would be sold as gold.

Seller can list a price...if it doesn't sell...they can reduce the price until it does.

I sold my gold items only domestically and not international.

I think it would be fun as a seller to see what happens.

The seller is not a newbie. I think the seller here knows about selling.

[lux.ra_14]

Sold mine locally for scrap several years ago and got $200+ for it. No idea if I would have done better on eBay after fees, but immediate cash in person was appealing for something that was just sitting in a drawer.

[luxgoods]

Sell it locally and avoid the hassle of a return or some other scammer. The red stone is most likely a synthetic stone. 

[kath.layn]

Much Thanks to you all.  I’ll check around locally at the pawn shops and gold dealers.