Shop around, most places will offer you around 1/4 of it's worth. My wife is the manager at a jewelry store so she buys a lot - be nice and you could get more, if you act desperate or look like you are on drugs expect to get lowballed big time.
It's my old wedding ring. I've been divorced for about 5 years now. I actually thought I lost it a few years ago....thought I accidently swept it up in a vacuum cleaner. I remember thinking, 'should I even bother looking in the bag'. I did...I couldn't find it and thought it was long gone. Then I just found it a few weeks ago in my room.