The prices are already out there for anyone that wants to look. $1150 spot, 28.35g per ounce = $40.56 per gram. Avg 2.5g for a woman's solitaire ring = $101.40 for pure gold.
14k Gold = (14/24) = $59.15 in gold. -25% for the store and the refiner and you are at $44.36 to buy that 14k gold band.
I just looked up that same ring on a wholesaler website and retail is $245.49 plus shipping to get it to the store.
That's how a ring you paid up to $250 for is "worth" $45 when you try to sell it for scrap. No one tried to screw anyone, it's just math.
14k Gold = (14/24) = $59.15 in gold. -25% for the store and the refiner and you are at $44.36 to buy that 14k gold band.
I just looked up that same ring on a wholesaler website and retail is $245.49 plus shipping to get it to the store.
That's how a ring you paid up to $250 for is "worth" $45 when you try to sell it for scrap. No one tried to screw anyone, it's just math.