Wow, just had another eye opening experience yesterday. A young couple was looking for a wedding band and some jewelry to give to their mom's at their upcoming wedding. They had a 14kt gold ring that weighed 4.9 grams they wanted to sell or trade in.
I told them they could have $58.77 in cash or $73.50 if they traded the gold in on something we made for them. Being bright young people they opted for the trade in value and then told me they were offered $17 and some change for the same ring from the Gold and Silver exchange that very day. That is only $3.46 per gram!!
We would have paid them almost three and a half times in cash and we gave them OVER FOUR TIMES the amount the Gold and Silver exchange offered them in trade.