Don't have to give back much gold, maybe only a few nuggets or such, but the stuff is pretty much useless as armor, and even after using 3 or 4 pieces of worn to make a good-as-new piece, it still is basically chest space wasters.
I have major problems keeping a redstone timer going for any length of time.
My timer loop is about as simple as it can get, a loop of 6 repeaters each set to 4 ticks which gives a cycle time near 2.5 sec. I use the output from one spot to drive a string of droppers. Timer is started by placing and rapidly removing a redstone torch.
When timer is started, the repeater next in the loop from the torch lights and the pulse travels around the chain as desired. After 15 min to 1 hr, 2 of the repeaters in the loop are lit and travel around. soon 3 are lit and so on until all 6 are lit at once and the timer stops.