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3 myths of the Cash for Gold business exposed (and three truths explained)
MYTH#1 – Selling pre-loved and broken jewelry for the gold value is a scam.
Busted!
In and of itself this is not true at all. Pawn brokers, refiners and antique gold sellers have been doing this trade for decades, even centuries! It is true, of course that no pawn shop or refiner is going to give you the price you paid for your jewelry when you originally bought it, but that’s not a scam, that’s business!
TRUTH#1 – Where there is truth in this statement is largely due to opportunistic companies trying to take advantage of the rush to sell precious metals at all time high prices. One way you can avoid this problem – at least with the internet business models – is see if the company has a gold price calculator on their site – many do because they want to demonstrate clearly that their offer is an honest one.
MYTH#2 – Old jewelry is worth more intact than as scrap
Busted!
No one is going to pay you anything but scrap value for broken items, single ear-rings, outmoded or out of date trinkets and general bric-a-brac. Silver too, is at all time high prices and everything from cutlery to trophies can have silver in them – but these items are not going to have intrinsic value – it’s the metal that is worth something!
TRUTH#2 – Sentimental value and antique value are two huge exceptions to this rule. Of course out of date can actually be “antique” and therefore have a lot of value -for these items you want to visit a fine jewellers store – they will be well placed to give you an indication of the item’s value and may even make you a good offer for the item in question. Sentimental value? Well this can only be measured by you – but if something was important to you once then the memory probably always will be – do you really want to let that go? Just be sure before you sell.
MYTH#3 – All prices paid by pawn shops, internet buyers and refiners for precious metals are the same.
Busted!
Not at all! We did our research and found the differences are enormous. Yes, of course you would think that if the metal itself is worth a fixed amount that, give or take the margin, the prices would be the same. This is somewhat true where you are dealing with the refiner direct – but a lot of the new entrants to the market seem to be trying to take advantage of a lack of knowledge on the part of the consumer. There are countless stories of people being paid very little – much less than the scrap value – for their jewelry. Again we recommend using the sites with calculators that will show you just how much you can expect – then compare them!
TRUTH#3
The most established players in this market are the refiners and pawn brokers and fine jewelry retailers.
When it comes to the precious metal contents value, refiners are the best for pricing. Refiners have been buying jewellers filings, scrap, dust and processing excess from manufacturers for many years. They have established rates and pay surprisingly high percentages for the metal they buy – typically the higher the quantity the higher the percentage they pay.
However, the quantities any individual might offer them are generally too small to get these rates. Pawn shops pay a variable rate as they will estimate the value based on the metal but hope to sell the item whole – if they don’t they package the item with others and send them off to a refiner.
The best solution for the individual seller is to find a refiner who has a retail website designed to cater for the small seller over the internet. Understand this is not the majority of the cash for gold type web site retailers. There are some however that are windows to a refiner and the very best rates can be as high as 90% for gold, 80% for silver and 80% for platinum. There are some good ones out there, but you have to tread carefully. Good luck!
About the Author
http://www.goldsilvertraders.com
French Antique Gold Finish Upholstered Cream Arm Chair
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Huge Estate Liquidation Sale Old Gold Silver 30K Coins Fine Art Vintage Antiques $165,000.00 |
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Antique Deco Mens GIA 6.04ct Diamond 18K Gold Ring $159,000.00 |
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ANTIQUE FRENCH GOLD PLATED BRONZE LOUIS XVI MANTEL CLOCK AND MATCHING CANDELABRA $104,999.00 |
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19th Century Antique 18k Burmese Ruby Diamond Bracelet $87,420.00 |
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18K WHITE GOLD DIAMOND & BLUE SAPPHIRE ANTIQUE BRACELET $79,248.75 |
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Antique Pair Of LOUIS XVI BERGERE CHAIRS MUSEUM QUALITY…GOLD..!!! $78,000.00 |
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Goodwill/Antiques Roadshow Gold Framed Art Collection Miracle Odds $75,000.00 |
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Antique Retro 5.5ct Diamond Demantoid Cluster Ring J VS $65,000.00 |
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VINTAGE ANTIQUE 22K GOLD DIAMOND POLKI KUNDAN ENAMEL MEENAKARI WORK NECKLACE IND $55,000.00 |
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Perpetual calendar Minute Repeater Moon Phase Chronograph 18 K Solid Gold P. W. $55,000.00 |
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6.23 ct J VS2 round certified diamond antique vintage engagement ring 18k gold $49,250.00 |
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21×26 GOLD FINE ANTIQUE 1900 AGRA ORIENTAL HAND KNOTTED WOOL AREA RUG CARPET $49,000.00 |
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Antique Edwardian 5.25 Carat I-J VS1 Diamond Silver & Gold Wire Earrings $45,000.00 |
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Late 1800′s 13.37 ct. Diamond Crown Pin / Pendent – Estate – Antique $45,000.00 |
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Gold Embroidered Altar Cloth $40,000.00 |
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Long Antique 9ct Diamond & Turquoise Silver & Gold Snake Necklace $40,000.00 |
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ANTIQUE FRENCH GOLD PLATED BRONZE BARBEDIENNE MANTEL CLOCK – MUSEUM QUALITY $39,999.00 |
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4.5 ct GIA fancy intense yellow VVS radiant antique vintage engagement ring 18k $38,880.00 |
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Antique style 20 ct Gold Diamond necklace set kundan meena work $38,000.00 |
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Antique style 20 ct Gold Diamond necklace set kundan meena work $38,000.00 |
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antique Qajar art holy quran painting gold paper islamic persian iran tazhib $38,000.00 |
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RARE ANTIQUE BUCCELLATI 18K GOLD EMERALD PEARL DIAMOND BROOCH PIN EARRINGS SET $37,500.00 |
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Antique Chinese Textile Silk Gold Embroidered 19th C. $35,000.00 |
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Vintage Antique Round Cut Diamond Ribbon Engagement 18k Solitaire Ring GIA D-FL $36,000.00 |
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Extra Large Antique Gold Roccoco Mirror 6398 $36,000.00 |
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Antique Japanese Shibayama Style Ox Bone Vases Gold Lacquer Stand Meiji 19th $35,000.00 |
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6.2 ct J SI1 natural radiant diamond antique vintage engagement ring white gold $34,500.00 |
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VINTAGE ANTIQUE HUGE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL WORK NECKLACE INDIA $33,000.00 |
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VINTAGE ANTIQUE SOLID 22K GOLD DIAMOND POLKI KUNDAN ENAMEL WORK EARRING PAIR IND $33,000.00 |
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VINTAGE ANTIQUE HUGE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL WORK NECKLACE INDIA $33,000.00 |
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6 ct I SI2 cushion natural diamond solitaire antique engagement halo ring 18k $32,000.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL MEENAKARI WORK NECKLACE IND $31,800.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL MEENAKARI WORK NECKLACE IND $31,800.00 |
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2.87 FVS Antique Vintage Diamond Engagement Ring Ideal $30,750.00 |
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ANTIQUE KING GOLD SILVER DIAMOND MAGNIFYING GLASS ring $30,000.00 |
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Chinese Antique Artifacts BASKET,BELL,BOWL,BOX,BRONZE,GOLD,SILVER,WOOD CARVING $30,000.00 |
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ANTIQUE CHINESE BRONZE STATUE LATE MING DYNASTY BODHISATVA BUDDHA GUAN YIN GOLD $29,999.99 |
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Antique Fingerring Imperial Russia/2x Romanov Crown (AS STAMP TOO!)Gold&Diamonds $29,000.00 |
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HAND CRAFTED STERLING SILVER, GOLD & GEM POWDER HORN BY MASTER SILVERSMITH $29,500.00 |
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Antique Mughal Sword Indo Persian Gold inlay Hilt Wootz DamasTalwar Blade Swor $29,299.29 |
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3.96 ct H SI1 round natural diamond antique vintage engagement ring 10 gram gold $29,250.00 |
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18K WHITE GOLD DIAMOND & EMERALD ANTIQUE BRACELETÂ $28,901.25 |
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antique zand art holy quran painting gold paper islamic persian iran tazhib $29,000.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL MEENAKARI WORK NECKLACE IND $28,500.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL MEENAKARI WORK NECKLACE IND $28,500.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL WORK NECKLACE RAJASTHAN IND $28,500.00 |
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ANTIQUE LARGE 6.50CTW DIAMOND 18KT W&Y GOLD PINEAPPLE FILIGREE PIN BROOCH #1155 $28,200.00 |
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GIRARD PERREGAUX CHRONOGRAPH CALENDAR 18K PINK GOLD PW $28,000.00 |
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LADIES ANTIQUE 14K WHITE GOLD RING W/ SAPPHIRE CENTER & 1/2 CT OF DIAMONDS $28,000.00 |
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Antique Georgian Period French Pink Imperial Topaz 15k Gold Demi Parure Set $28,000.00 |
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antique Estate Chinese green Jadeite JADE PENDANT deer monkey carving gold 14k $27,799.00 |
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3.01 ct F VS natural cushion diamond novo antique engagement ring 18k white gold $26,950.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL WORK NECKLACE KOLKATA INDIA $26,800.00 |
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VINTAGE ANTIQUE 20K GOLD DIAMOND POLKI KUNDAN ENAMEL WORK NECKLACE KOLKATA INDIA $26,800.00 |
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5.02 CT D VS2 EMERALD DIAMOND ANTIQUE VINTAGE ENGAGEMENT WEDDING RING SET 18K $26,340.00 |
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3.8 ct H VS2 oval & round diamond antique vintage style engagement ring 18k gold $26,000.00 |
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5.06 ct I SI natural cushion round antique vinatge engagement halo ring 18k gold $25,100.00 |
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One of a kind 18kt Gold&Enamel 7 complication watch by Barnet Henry Joseph&Co $25,000.00 |
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Antique 18K Gold Micromosaic Malachite Italian Bracelet $25,000.00 |
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5.50Carat Cushion Fancy Canary Yellow Diamond Certified Ring Antique Setting 18k $24,999.00 |
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Great Northern Popcorn Original Stainless Steel Stove Top 6-1/2-Quart Popcorn Popper $27.99 The Stainless Steel Stove Top Popper by Great Northern Popcorn was designed by popcorn scientists to make popping popcorn on the stove a breeze. Now one person can continually pop pan after pan of delicious popcorn without the investment of expensive and bulky popcorn poppers. Only one word truly describes the Spinner Stovetop Popper – Awesome! The Stainless Steel Stovetop Popper’s innovative des… |
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International 53-Piece Simplicity Flatware Set $34.97 This 18/0 stainless steel has graceful styling, perfect for any occasion. Set includes 8 each: dinner fork, salad fork, dinner knife, dinner spoon, teaspoon and steak knives, plus a 5 piece Hostess Set, which includes 1 each of: sugar spoon, butter knife, tablespoon, pierced tablespoon, and cold meat fork. Dishwasher safe…. |
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Great Northern Popcorn Red Foundation Antique Style Popcorn Popper Machine with 8-Ounce Kettle $159.95 Includes a FREE Starter Kit: 25 FREE bags, measuring cups and a popcorn scoop with every popper!If you are in the market for a popcorn popper, stop looking! These Great Norther Popcorn top quality machines feature stainless steel food-zones, easy cleaning stainless steel kettles, an exclusive warming deck, old-maid drawers (for unpopped kernels), tempered safety glass panels and an industry leadin… |
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Heritage $9.65 Following the success of their last 4 shows the new Celtic Thunder show Heritage accentuates the musical culture of Ireland. The CD features 12 new recordings including: An Irish Blessing, A Place In The Choir and Whiskey In The Jar. In 2011 March PBS pledge will feature Celtic Thunder’s Heritage airing the program over 1,000 times. In the fall of 2011 Celtic Thunder Heritage will be on tour. Over… |
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Second Helping $2.41 No Description AvailableNo Track Information AvailableMedia Type: CDArtist: LYNYRD SKYNYRDTitle: SECOND HELPINGStreet Release Date: 11/04/1997… |
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Our Time in Eden $3.44 The last album the band recorded before lead singer Natalie Merchant departed for a solo career, Our Time in Eden is the actualization of an unassuming college folk-rock band turned adult-contemporary group in the best possible way. Merchant’s lullaby voice is more pure and confident than ever before. And although the music is still dominated by chiming rhythm guitar, the band incorporates an emph… |
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Sahara (Widescreen Edition) $2.74 Matthew McConaughey is an adventurous explorer who, along with sidekick Steve Zahn, travels to Africa in search of a Civil War ironclad vessel believed to be buried in the middle of the desert. The pair gets more than they bargained for when they meet sexy doctor Penelope Cruz and find themselves joining her crusade to wipe out a devastating plague. Fast-paced comedic actioner also stars Delroy Li… |
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Blades of Glory (Widescreen Edition) $2.84 Blades of Glory is pure hilarity a gold medal comedy winner staring comic superstar Will Ferrell (Talladega Nights) and John Heder (Napoleon Dynamite). Bitter figure skating rivals Chazz Michael Michaels (Ferrell) and Jimmy MacElroy (Heder) brawl after tying for the gold medal at the world championships. Banned for life from men s competition these archrivals beat the system thanks to a loophole … |
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World Imports Belle Marie Collection 6-light Hanging Chandelier $898.2 This hanging antique gold chandelier has dangling crystal drops and will be the focal point of any room. The light features an antique gold finish and a champagne shade. |
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World Imports Belle Marie Collection 2-light Wall Sconce $268.2 Setting: IndoorFixture finish: Antique goldNumber of lights: Two (2) |
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Antique Gold Traditional Floor Lamp $86.99 Add brilliant lighting and an elegant look to your home with this antique gold traditional floor lamp. |
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Cachet Women’s Antique Gold Taffeta Evening Dress $91.99 A dramatic pleated portrait collar lends glamour and elegance to this dress from Cachet. Featuring a rich antique gold hue, ruched taffeta dress is finished with cap sleeves. |
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Baden Bath Antiqued Gold Faucet $133.99 An antiqued gold finish creates a nod to the past in this modernly chic faucet from Baden Bath. The cross-bar handle lends timeless appeal. |
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Cano Stylish Antique Goldplated Stones Brooch $71.99 Cano Stylish Antique Gold-Plating Swarovski Stones Brooch |
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Dritz Antique Gold Curtain Grommets (Pack of  $10.29 Color: Ten natural color optionsFinish: Antique gold1-inch diameter grommet |
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Antique Gold Magnetic Tiebacks (Pack of 2) $6.19 These decorative magnets are a simple and elegant alternative to curtain tiebacks Attached transparent cord Color: Antique gold |
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Legion Furniture Antique Gold Glass Bathroom Sink $100.99 This beautiful bathroom sink by Legion Furniture is featured in a versatile antique gold hue. The sink would be a dynamic addition to your bathroom remodel. |
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Antique Gold Metal Coat Rack with Umbrella Stand $79.99 Stay elegantly organized with this convenient steel coat rack. This rack features an umbrella stand and eight total arms. Comes in a beautiful antique gold finish. |
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Arda Ocean Antique Gold Large Tray $38.99 Accessorize your table with this Antique Gold Tray from the Ocean Dinnerware collection from Arda Glassware. Handcrafted uneven shapes are unique and decorated with organic materials. |
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Italian Handmade Antique Gold Tassel Swag $40.49 This handmade tassel swag is crafted with tassels on each end. This tassel features a rich shade of antique gold. |
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Clover ‘Antique Gold Pendant’ Thread Cutter $5.03 Materials: Zinc, steelAntique gold finishZinc bodySharp circular steel blade |
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Eclectic Antique Gold and Silver Leaf Mirror $239.99 Accent your living space with this eclectic antique gold and silver leaf mirror. The mirror features a beautiful wave design that reflects light in the pattern’s different curves. |
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Hitch Antique Gold Finish Table Lamp $45.34 Add a modern touch to your home decor with this unique table lamp. This lamp features an antique gold finish and gold tapered shade. |
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Crown Jewel 3-Light Antique Gold Chandelier $294.99 Includes 5 feet of chain and 10 feet of wireFixture finish: Antiqued gold leafShades: Cognac-tinted scavo glass |
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Antiqued Gold Leaf Framed Metal Tulips $327.8 Complete any room with this beautiful, decorative set of framed metal tulips. The wall accessory features a hand-forged, antiqued gold leaf finish that is accented by a charcoal grey wash. |
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Gella Antique Gold Small Wood Framed Mirror $327.8 Complete any room with this beautiful, decorative framed mirror. The wall accessory features antique gold frame-finishing and matching rosettes with a beveled mirror. |
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Antique Gold Round Calligraphy Mirror (China) $102.99 This round mirror is a stunning example of Chinese craftsmanshipAntique gold finishAccented with carved Chinese characters Braided rope border on the inside and outside |
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Antique Gold Queen/Full Size Headboard $309.99 This antique gold-finish headboard will be a wonderful focal point in your casual or contemporary bedroom. The bed features an arched crown, vertical slats and twisted rope details that add a soft romantic touch to the bedroom. |
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Bristol Antique Gold Wall Mount Fireplace $191.99 Enrich your environment with this antique gold-brushed fireplace Indoor fireplace comes complete with a punched tin pattern and decorative leaf screenDecorative accessory is small enough to go anywhere |
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Antique Gold Floor Urn Vase (Indonesia) $149.99 Add an edge of smoldering earthy tones and classic style to your living space with this antique gold Urn vase. Handcrafted by skilled artisans in Indonesia, the quality of this piece is of the highest standard. |
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Parthenon 6-light Antique Gold Chandelier $209.99 Enhance the decor of your dining room, foyer or entryway with this Parthenon six-light chandelier. An antique gold finish and shades of cognac scavo glass make for a rustically elegant look and feel. |
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Kirsch Regency Antique Gold Decorative Drapery Rings (Set of 7) $16.49 Update your home decor with these Kirsch Regency decorative drapery rings. These rings feature an antique gold color and come in a set of seven. |
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Parthenon 9-light Antique Gold Chandelier $329.99 This unique Parthenon chandelier features a weathered antique gold finish with cognac Scavo glass shades. This nine-light chandelier adds the perfect touch of flair to any room and decor. |
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Kirsch Regency Antique Gold Decorative Drapery Holdbacks (Set of 2) $22.69 Add to your home decor with these stylish drapery holdbacks. These antique gold holdbacks feature a 5-inch wall projection. |
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Melissa Antique Gold Mirror $139.99 Update your home decor with this beautiful Melissa mirror. This mirror features a metal frame with smoked antique insets. |
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AF Lighting Baltic 4-light Aged Antique Gold Chandelier $154.99 Add an elegant touch to your home decor with this unique chandelier. This light fixture features ivory fabric shades and an aged antique gold finish. |
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Kirsch Regency Antiqued Gold Decorative Drapery Rings (Set of 7) $16.99 Update your home decor with these Kirsch Regency decorative drapery rings. These rings feature an antique gold color and come in a set of seven. |
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Marmount Antique Gold Art Nouveau Glass Pendant Light Fixture $65.99 The Marmount mini-pendant fixture highlights a creative use of ironwork with colorful glass. This art nouveau-inspired light fixture features an antique gold finish. |
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Kirsch Regency Antique Gold Decorative Drapery Holdbacks (Set of 2) $23.49 Add to your home decor with these stylish beaded trumpet Kirsch Regency decorative drapery holdbacks. These antique gold holdbacks feature a 5-inch wall projection. |
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Round Framed Antique Gold Mirror $266.99 A wonderfully intricate sunburst geometric shape gives this beveled mirror sophistication, elegance and beauty. This mirror features an antique goldtone finish. |
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Arda Ocean Antique Gold Gilded Canape Plates Set of 4) $47.99 Accessorize your table with these Antique Gold Canape Plates from the Ocean Dinnerware collection from Arda Glassware. Handcrafted uneven shapes are unique and decorated with organic materials. |
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Crown Jewel Antique Gold Leaf 2-Light Flush $117.99 This crown jewel two-light flush features an antiqued gold leaf finish. This ceiling flush showcases a congnac-tinted Scavo glass shade. |
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Lewis Quadrant 28 to 48-inch Antique Gold Adjustable Curtain Rod Set $27.53 The Quadrant design curtain rod and finial set features an adjustable design that extends from 28 to 48 inches. This curtain rod set also offers an antique gold finish, and a steel construction. |