Silver Spring Jewelry in White Oak buys gold and offers a fair price. The exterior is not fancy but the owners are very nice, knowledgeable and make beautiful custom pieces too. For example, they can make a hoop earring to match.or work with you to develop and create an idea.

Anonymous wrote:

Anonymous wrote:We had a lot to sell so went to the Gold District in NY.

Did it get reported to the IRS? Wondering if there will be any tax issues on inherited gold.

Depends on the amount. Sales of over 10K are reported to the IRS. Smaller amounts here and there aren't.

Thanks

Anonymous wrote:We had a lot to sell so went to the Gold District in NY.

Did it get reported to the IRS? Wondering if there will be any tax issues on inherited gold.

Before preppers were preppers they were called survivalists. My favorite uncle was an eccentric survivalist. He was also fairly wealthy. In December of 1999 he decided that he’d hedge against the pending Y2K societal collapse by purchasing $20,000 worth of gold.

Fast forward to 2020 when he got Covid and passed away. He had no wife or children so he left me the gold in his will. I’ve had 69 gold bars in the back corner of my safe for a few years now. I think It’s time to sell 40 or 50.

I sold a bunch of broken gold bits and got about $850. Ando the gold dealer is my aunt so I trust her.

I use Alexandria Gold and Silver in Alexandria.

We had a lot to sell so went to the Gold District in NY.

Any suggestions where I could take a few tiny pieces like some small hoop earrings where I lost the other one? Better than sitting in my drawer.

For about 95+% of your gold jewelry, you'll get no more than the spot rate per gram. So make sure you know what that is when you go into the store.

Anonymous wrote:You can def go to a renowned jewelery shop - you can compare them - there's def a few. Been going since last year. Thought I hit the jackpot at $2500/oz - what did I know??!! Hahaha. Should have awaited for the $4k/oz! We made out even then though..

I suspect it will get to $5k next year. We're stockpiling and going to sell and buy my kid a car when he needs to start driving soon.

It goes up but it also goes down. Don't rely on it getting to 5K / oz.

You can def go to a renowned jewelery shop - you can compare them - there's def a few. Been going since last year. Thought I hit the jackpot at $2500/oz - what did I know??!! Hahaha. Should have awaited for the $4k/oz! We made out even then though..

I suspect it will get to $5k next year. We're stockpiling and going to sell and buy my kid a car when he needs to start driving soon.

DP. Any recommendations for a reputable place to sell gold jewelry in Montgomery County?

It's at a high right now. I have a bunch of bars but I sold one.

I was going through jewelry and have some odds and ends, pieces I haven’t worn in years, etc.

If you sold recently, how much did you make? I plan to take it to a local gold and coin dealer nearby with a good reputation but wanted to hear some first hand experiences.

TIA