Where is the best places to sell your gold?

[goldkey]

Where is everybody selling their gold these days and getting the best returns?
I'm sure this has been asked before but finding the answers in here is a maze.
I had a good place I thought and when they quoted me the price for my gold I asked them to send it back....online buyer that did pay well
the first time I used them....US Gold Buyers.

 

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[Nitric]

Just like anything else, you should shop it around your area. I'm not sure I would send it in the mail not knowing what percentage they paid and asking a million questions first. I guess it depends on how much gold too.

things to consider, every place has to make a few bucks from the transaction. So, learn how to figure the value of what it is your selling taking into consideration the refining fees,and someones time of dealing with it.

 

[goldkey]

Just like anything else, you should shop it around your area. I'm not sure I would send it in the mail not knowing what percentage they paid and asking a million questions first. I guess it depends on how much gold too.

things to consider, every place has to make a few bucks from the transaction. So, learn how to figure the value of what it is your selling taking into consideration the refining fees,and someones time of dealing with it.

I knew what percentage they were paying...80% because it was less than an ounce. I had 24.5 grams...28 grams is an ounce. 90% for 1 oz -3 oz. The problem was that the guy there told me that
he put the 10k in with the 14k and 18k and came up with the whole lot being 46.5% gold which is slightly over 10k (which is 42% gold). It had been a year since I had dealt with this company. The first time I sold to them I got 90% payout and that was great. I'm sure someone here knows other places to deal with.....

*It would be highly unusual to find a local place in town that would pay out 80%. Most pawn shops do well to pay 50/60%.

 

[Nitric]

I knew what percentage they were paying...80% because it was less than an ounce. I had 24.5 grams...28 grams is an ounce. 90% for 1 oz -3 oz. The problem was that the guy there told me that
he put the 10k in with the 14k and 18k and came up with the whole lot being 46.5% gold which is slightly over 10k (which is 42% gold). It had been a year since I had dealt with this company. The first time I sold to them I got 90% payout and that was great. I'm sure someone here knows other places to deal with.....

Not to pick on your post. but there is 31.1 grams(or about) in a troy ounce(ozt) which is how metals are weighed. so, depending on how you weigh, you may come up with a different number too.

I've seen a lot of buyers that paid for 10k only, no matter what it was. You should be able to find someone a lot more fair! Or figure it ahead of time and tell them what you want. If your in a fair range a lot of times they will buy it. Even if it is more than they usually pay. This depends on how much too. Anyhow, I'm not much help. I haven't sold any for a long time and don't know buyers anymore...

 

[Sandman]

Those of us that sell our gold mostly ONLY sell to ARA Refineries which buy at 98% spot.Our Refining Schedule - Dallas Gold Refining Schedule-Silver Refinery Dallas, Platinum Refining Dallas

 

[Treasure_Hunter]

Like Sandman said, ARA and another one is Midwest Refineries..

 

[goldkey]

I've noticed that gold is trending back up again....so maybe better to hold it a while anyway.
Nitric.....You were correct on the 31 grams for a troy ounce......

Looks like Midwest may be the best for small orders .......95% and no fees.

 

[Nitric]

I've noticed that gold is trending back up again....so maybe better to hold it a while anyway.
Nitric.....You were correct on the 31 grams for a troy ounce......

Looks like Midwest may be the best for small orders .......95% and no fees.

you may already know this....Some of the pricing you might see on k gold, might say pennyweight or (DWT) There are 20 DWT to an ozt. Just in case someone reading doesn't understand when trying to get a good price. It gets confusing depending on how they say they pay or weigh at times. It confused the heck out of me the first time trying to figure all that out.

 

[Sandman]

Trying to confuse us is how they get extra profit.

 

[CincinnatiKid]

I dabble in gold bullion, usually 1/10 oz rounds.
Rarely, I show my man chest, and buy a full oz.
Thing is, the premiums are so high per round, I rarely make profit.
But they are nice to have as an alternative to cash.
I buy n sell to/from one local business.
I differ to others concerning prospecting.
GL
Peace ✌

 

[TerryC]

I knew what percentage they were paying...80% because it was less than an ounce. I had 24.5 grams...28 grams is an ounce. 90% for 1 oz -3 oz. The problem was that the guy there told me that
he put the 10k in with the 14k and 18k and came up with the whole lot being 46.5% gold which is slightly over 10k (which is 42% gold). It had been a year since I had dealt with this company. The first time I sold to them I got 90% payout and that was great. I'm sure someone here knows other places to deal with.....

*It would be highly unusual to find a local place in town that would pay out 80%. Most pawn shops do well to pay 50/60%.

Gold recovered from the ground is NEVER pure. Some areas have as much as 15% silver and other heavy stuff (platinum group). Sell locally at a thriving gold and panning supplies merchant. Wichenburg, AZ has a place east of town. He buys up ALL loose gold at fair market value. He lists his deals up front and weighs the stuff on a digital scale. He does not deal in coins. Try the local route. TTC

 

[MrMikeJackie]

My local refinery gives us (club members) 5% off spot. Walk ins get 15% off spot. Not bad.

 

[Sandman]

My local refinery gives us (club members) 5% off spot. Walk ins get 15% off spot. Not bad.

Why get 5% off spot when you can get 98% of spot and any stones returned.

 

[MrMikeJackie]

Why get 5% off spot when you can get 98% of spot and any stones returned.

Well up until this thread I didn't know of other options such as ARA, and 5% off spot isn't that far off from 98% spot. A pretty good deal compared to local jewelry and pawn shops. I remove any worthwhile stones before melting anyhow. Thanks for the added options.

 

[goldkey]

Gold recovered from the ground is NEVER pure. Some areas have as much as 15% silver and other heavy stuff (platinum group). Sell locally at a thriving gold and panning supplies merchant. Wichenburg, AZ has a place east of town. He buys up ALL loose gold at fair market value. He lists his deals up front and weighs the stuff on a digital scale. He does not deal in coins. Try the local route. TTC

When I get to AZ I'll keep that info in mind. I am looking forward to making it there and maybe spend the winter nugget hunting.

P.S. Please kill or lock up all the snakes before winter....Thanks!

 

[chlsbrns]

Those of us that sell our gold mostly ONLY sell to ARA Refineries which buy at 98% spot.Our Refining Schedule - Dallas Gold Refining Schedule-Silver Refinery Dallas, Platinum Refining Dallas

According to ARA's website they only deal with legitimate businesses. Their website says...

"If you are a new customer please print and complete the customer application. Also, be sure to include a copy of your Tax ID, EIN or TIN with your shipment as it is required"

Most ebay auctions for gold sell above spot but the paypal and ebay fees eat about 13%.

 

[Sandman]

According to ARA's website they only deal with legitimate businesses. Their website says...

"If you are a new customer please print and complete the customer application. Also, be sure to include a copy of your Tax ID, EIN or TIN with your shipment as it is required"

Most ebay auctions for gold sell above spot but the paypal and ebay fees eat about 13%.

ARA makes this statement cause it is required by law. Don't let this scare you. Many guys and gals weigh their gold they wish to sell to get an idea of the payment. Wrap it up and send it off, I just use a post office VCR box if I need to send small amounts and ARA always sends me a nice check. I send the box Registered so it has to be signed for and it is much cheaper.

Midwest Refineries I used to sell to till they stopped walk-ins for security reasons and they claimed a couple items weren't gold as I tested them to be. They didn't have them to get back, so they cheated me(ONCE). They are only 3 miles from my home.

 

[against the wind]

Excellent discussion,, I have a hunting buddy up here in NY that will get me spot price on gold minus 5%.
He has been dealing with the same smelter for years. Taking your gold to a PAWN SHOP is a big no no.

 

[TerryC]

When I get to AZ I'll keep that info in mind. I am looking forward to making it there and maybe spend the winter nugget hunting.

P.S. Please kill or lock up all the snakes before winter....Thanks!

The snakes will "go below" for the winter. They like to use bluffs and rocky areas with a southeastern face. They lay on the rocks to soak up sun before going to bed. They will again reverse the process in the spring. Avoid these southeast facing areas then. TTC

 

[RustyGold]

Excellent discussion,, I have a hunting buddy up here in NY that will get me spot price on gold minus 5%.
He has been dealing with the same smelter for years. Taking your gold to a PAWN SHOP is a big no no.

As is taking your silver and gold to a coin dealer!