How much is my wedding ring worth? Asked Ava
Hey Maria, I have my old wedding ring here and another wedding ring which I inherited from my aunt. I can need some cash and I hink about selling these two rings. I don’t care about my rings and I think it’s a good occasion to take off some memories concerning my ex-husband. How much is my wedding ring worth? And, where can I sell my rings for cash?
Ava from Denver in Colorado
Dear Ava, divorces are the main reasons why people sell wedding rings. Thousands of Americans sell their unwanted wedding rings, every day. You can’t believe how many wedding rings are melted down, every day, all over the US. I asked you for some help to find out how much your wedding rings are worth and it was so fun to work with you. Thank you for consulting me, Ava.
reDollar appraiser, Maria Tait
Ava wants to know, how much is my wedding ring worth?
Ava: Maria, I need some money for moving. You know, moving is expensive and I hope that my two old wedding rings can pay the truck rental bill. I need a 15’ truck and they charge me $0.89 each mile. I move from New York to Richmond (VA) and need to make about 350 miles which costs me about $300, just for the miles. Plus basic fees and plus gas. I would be so happy if my wedding rings can make $400. Please let me know, how much are my wedding rings worth?
Maria: Dear Ava, I do my best but as I told you in my first email, an average wedding ring is not very massive and I’m not sure if two wedding rings can pay your truck bills. But let’s work together to find out the approximate value. First, I asked you to look for markings. You used a loupe and your spotted markings are really promising to reach your goal of $400. One gold ring is marked as 18K gold and the other one is marked as 22K gold. 18K gold is very common in the US, nearly all US wedding rings are made of 18K gold because it’s a good quality and good to work for goldsmiths. The other marking is a little surprise to me because it’s marked as 22K gold. 22K gold is often used in India and other regions like Asia or the Middle East. In the US, 22K gold is almost never used to produce a wedding ring. My question to you was if there is any connection between your family and India or other mentioned regions?
Ava: The 22K gold wedding ring belongs to my aunt but I know that she had a foreign husband. She died when I was 3 or 4 years old. But I asked my mom and she told me that her husband (my uncle) was from Bangalore in India. He also died and I have no memories to him. But it’s so interesting to learn more from you.
Maria: A single gold ring can help you to find out more about your genealogy. Let’s start our evaluation process beginning with the 18K gold ring. 18K gold stands for 75% of pure gold. So 18K gold is worth 75% of pure gold’s value. I told you to determine the weight by using a digital scale. Perfect that you are working in a pharmacy for using their scales. The weight you provided me shows 5.23 gram. 5.23 gram equals 3.36 pennyweights. The current scrap gold value of such an amount of 18K gold ranges between $140 and $150, depending on the reliability of the gold buyer you are consulting. Our company would pay you nearly $150 for this wedding ring.
Ava: I was in hope to get more cash. But Maria, please surprise me with maybe $200 more!
Maria: Let’s see what I can do for you. The good news are that the second gold rings is more massive and it’s made of 22K gold which equals 91.6% of pure gold. So we speak about more weight and a better gold quality. You told me that this ring weighs 8.36 gram. 8.36 gram equals 5.30 pennyweights. I’m so happy to can tell you that this gold is worth about $270. Aren’t that great news for you Ava? We have a total value of $410 or $225, depending on the gold buyer. Your wedding rings will pay the truck bills.
Ava: This are really awesome news. I’m so thankful for your friendly advice. I will sell my wedding rings with your company. Just let me know the next steps. I’m so happy and thankful, Maria.
Maria: My pleasure, but thank your aunt and her husband bequeathing you a 22K gold ring.
Ava: Oh Lord, yes I do! (Laughing)