Squashed Gold Ring & Weighing It In .....

[pattayadingo]

The gold ring was on the floor next to the g/f, as she was putting cream on her legs. Her big footed sister walked on it, squashed it almost flat. she is going to replace the ring but I was wondering......

If the ring is taken to a gold shop, how will they treat it?

Will they weigh it and give the gold price minus some commission?

Will they treat it as scrap gold and give a lower price?

Will they need to test it?

Or what?

Thanks for any helpful info

[jbrain]

If it was Thai gold I would think that it is quite easy to bring it back in to shape.

[FunFon]

If it was bought at a decent shop in the first place, take it back there and they'll fix it up or swap it out for a very small workmanship charge.

The premium between the raw weight price and the finished product is usually just a few hundred baht, in my experience less than the difference between the buy and sell prices on the raw metal.

BTW what you witnessed is why the western world "adulterates" its gold jewelry with a higher percentage of stronger metals, the much higher purity of gold makes Thai jewelry quite fragile.

[tw25rw]

Why would there be a difference between scrap gold and the normal gold price?

[FunFon]

Why would there be a difference between scrap gold and the normal gold price?

-

What are you calling the "normal" price? There's a buy and a sell price, the raw weight price and the price including workmanship.

True scrap gold may need to be melted down and assayed for purity, which obviously incurs higher costs than when they can confirm the quality just by looking at it and weighing it.

If you go back to the (good) shop where you bought the gold, you will get a much higher price than you would for gold from another shop.

[pattayadingo]

If it was bought at a decent shop in the first place, take it back there and they'll fix it up or swap it out for a very small workmanship charge.

The premium between the raw weight price and the finished product is usually just a few hundred baht, in my experience less than the difference between the buy and sell prices on the raw metal.

BTW what you witnessed is why the western world "adulterates" its gold jewelry with a higher percentage of stronger metals, the much higher purity of gold makes Thai jewelry quite fragile.

If it was Thai gold I would think that it is quite easy to bring it back in to shape.

Those two suggestions would be good, if the ring was here with me, as it is, it was left at mothers house.

I appreciate it could have been brought back to shape but I doubt the fine design work on it would be the same afterwards.

Yes, I appreciate Thai gold is so soft and that is part of the problem.

FunFon, the cost of replacing the item is what I was thinking about and wondering if replacing the original would be as you said, a few hundred Baht between the difference of the gold and the making of the ring itself.

I'll have a word with the g/f, as I am sure she does not realise this herself.

But I do appreciate the replies.

[pattayadingo]

Why would there be a difference between scrap gold and the normal gold price?

In the U.K. if you have a broken ring or, say, 75% of the ring they would often offer a 'scrap' price and that is not usually the true value of the gold, especially if the assay mark is missing or badly damaged.

[FunFon]

I appreciate it could have been brought back to shape but I doubt the fine design work on it would be the same afterwards.

Yes, I appreciate Thai gold is so soft and that is part of the problem.

FunFon, the cost of replacing the item is what I was thinking about and wondering if replacing the original would be as you said, a few hundred Baht between the difference of the gold and the making of the ring itself.

-

As I said it all depends on the quality of the shop where it was originally purchased. Top-notch places like Hua Seng Heng on Yaowarat Road in Bangkok will swap out their own merchandise for a very low differential price as long as the micro-stamps they use to mark their brands is still intact.

It's been a while, but I believe the workmanship charge over the raw weight price was under THB 1,000, but these days the difference between the buy and sell is much higher since gold itself has gone up by so much.

Gosh I wish I'd just invested in that stuff when I first came here 14 years ago but I only would have been able to hold on to it if the various teelac's I've had over that time didn't get wind of it. . .

[The Snark]

Suggestion regarding ALL gold. If it has significant value to you. Before you take the gold in for repair, or let it leave your possession for any reason. Go to a chemist shop and buy a precision graduated flask just large enough to hold the piece of gold. Fill the flask with enough water so that the gold will be covered when placed in it. Note the exact level of the water. Next, add the gold and again note the exact water level. The difference is the precise volume of the gold. Next, get a good small scale that measures fractions of a gram. Weigh the gold piece precisely. Write both these numbers down and keep the info in a safe place. Lastly, makes a close examination of the piece noting the shape, variations, identifying marks etc etc. Be precise. Use a micrometer to measure thicknesses. When you let anyone take the gold, as for repairs, do the above check to make certain both figures are the same and check to make sure the appearance is identical. The weight and volume measurement will vary if some part of the gold has been cut out/removed and replaced with less value metal unless the replacement metal is lead. If lead has been substituted into the piece it will be colored gold and a close examination will reveal the coloration difference. If in doubt, heat the gold very slowly over a kitchen stove. The coloring agents will discolor or burn, revealing the lead. It is estimated that about 100 million dollars of gold is stolen every year in the world using the substitution method. Don't be a victim.

[swissie]

Suggestion regarding ALL gold. If it has significant value to you. Before you take the gold in for repair, or let it leave your possession for any reason. Go to a chemist shop and buy a precision graduated flask just large enough to hold the piece of gold. Fill the flask with enough water so that the gold will be covered when placed in it. Note the exact level of the water. Next, add the gold and again note the exact water level. The difference is the precise volume of the gold. Next, get a good small scale that measures fractions of a gram. Weigh the gold piece precisely. Write both these numbers down and keep the info in a safe place. Lastly, makes a close examination of the piece noting the shape, variations, identifying marks etc etc. Be precise. Use a micrometer to measure thicknesses. When you let anyone take the gold, as for repairs, do the above check to make certain both figures are the same and check to make sure the appearance is identical. The weight and volume measurement will vary if some part of the gold has been cut out/removed and replaced with less value metal unless the replacement metal is lead. If lead has been substituted into the piece it will be colored gold and a close examination will reveal the coloration difference. If in doubt, heat the gold very slowly over a kitchen stove. The coloring agents will discolor or burn, revealing the lead. It is estimated that about 100 million dollars of gold is stolen every year in the world using the substitution method. Don't be a victim.

Next to lead and as I gather there is another metal that can be added to gold. Having the same specific-weight as gold and therefore the above mentioned testing method is not conclusive.

Not sure abot the metal, but "Wolfram" (?) keeps churning in my head in connection with this issue.

Cheers.

[Totster]

I caught my (thai gold) wedding ring on a door handle a couple of years ago and pulled it right out of shape, it was probably more like a triangle, had to mangle it up even more when trying to get it off. This was in the UK, so I took it to a local goldsmith who reshaped it and polished it up, good as new, cost a fiver. Anyway, if it can be done there it can certainly be done here.

totster

[Dancealot]

To the OP. Keep things simple, i dont understand all this speculation

Its a thai gold ring you are talking about.

So if it look like a trampled snake right now it really doesn't matter at all to the scales and the expertise of a Thai gold dealer.

It's probably worth more then what you paid for it.

I sold mine recently (read divorced) with a considerable profit while being in terrible shape due to....

Edit: Sentimental or estatic value = 0 Bath

[FunFon]

Suggestion regarding ALL gold. If it has significant value to you. Before you take the gold in for repair, or let it leave your possession for any reason. Go to a chemist shop and buy a precision graduated flask just large enough to hold the piece of gold. Fill the flask with enough water

...

Don't be a victim.

-

Or just use a reputable shop, you can trust them.

[FunFon]

Not sure abot the metal

-

Tungsten, which is one of the only metals heavier than gold, mixed with a lighter metal the volume can be made to appear the same as gold.

http://www.zerohedge.com/news/tungsten-filled-10-oz-gold-bar-found-middle-manhattans-jewelry-district