How to sell a platinum wedding ring?

July 7, 2006 7:49 PM

I have a platinum wedding band that I no longer need. I bought it for about a thousand. I know I'll never get near that much, but I'm going to sell it regardless. How do I get the most money possible?
posted by gtr to shopping (3 answers total)

You can melt it down; market price is $1234 per troy ounce. The catch is that there are minimum purity standards for which your ring may or may not qualify.
posted by Saucy Intruder at 8:50 PM on July 7, 2006

I think it comes down to two things:

1. Do you just want the money

2. Are you trying to get rid of the wedding ring.

If it is the second, you can have a jeweler melt it down and turn it into something else.

If it is the first, you can still sell it as scrap to a jeweler or ebay for more of a "retail" price. Typically you are going to get no more than half what you paid for it by selling it retail.

Personally, I would just melt it down and make another ring, or a pendant or something. It's just metal at this point.
posted by qwip at 11:48 PM on July 7, 2006

I just bought platinum wedding bands. Platinum has done nothing but go up the last few years and the trend is continuing (so said my jeweler). Have them re-appraised to figure out the retail value and go from there. You may want to hold on to it until you need to purchase another wedding band (you never know). My jeweler will always trade in for the price you bought it for, as long as it was from them or another reputable jeweler.
posted by Roger Dodger at 6:48 AM on July 8, 2006