What to do with a Dore Bar

[ARROW1]

I have been given a Dore Bar by a friend as payment for helping him out of one of life's ugly Jams. Its a smelted metal bar about 10" long, 1/2" thick and 3" wide, weighs a good 7-8 lbs. It was given to my friend as a bonus when he worked for a small mining concern here in AZ about 30 years ago and has sat in his garage ever since, he has 12 of these bars. He says it is a combination of gold, silver, copper and platinum - the extent of each is unknown, varies from bar to bar. I know I need an assay report but that can get expensive - any other ideas?

 

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[RTR]

How about filing off a gram and melt it down at home.Then test to see how much of each element is in those bars
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[Goodyguy]

I have been given a Dore Bar by a friend as payment for helping him out of one of life's ugly Jams. Its a smelted metal bar about 10" long, 1/2" thick and 3" wide, weighs a good 7-8 lbs. It was given to my friend as a bonus when he worked for a small mining concern here in AZ about 30 years ago and has sat in his garage ever since, he has 12 of these bars. He says it is a combination of gold, silver, copper and platinum - the extent of each is unknown, varies from bar to bar. I know I need an assay report but that can get expensive - any other ideas?

Best idea would be to take it to a reputable gold/precious metal buyer. They will test it for free to decide how much to pay you for it.
You can always get offers from other buyers. Then sell it to the highest one.

If it's only 25% gold it would be worth around $43,200.00 !
25% of 8 lb t bar = 2 lb t. $1800 per oz t X 24 oz t = $43,200.00 !

Lets say it's only 10% gold. Still worth $17,280.00 !

Even at only 1% gold it would be worth $1,728.00 !
And that's just the AU value.

Gold $1804.10 per oz t
Platinum $998.00 per oz t
Silver $ 25.14 per oz t
Copper $ 00.27 per oz t

*NOTE Precious metals are bought and sold in troy wt.
Hopefully it came from a gold mine not a silver mine, then the AU content could reach well over 75%

GG~

 

[arizau]

If what I read is correct then pure gold weighs 0.7lbs./cubic inch. Your dimensions indicate the bar is 15 cubic inches....so a pure gold bar of that size would weigh about 10.5 lbs. "Dore gold bars" are often closer to 80% gold purity....80% of 10.5 is 8.4 lbs. (US weight not troy)...that puts you in the ballpark. Copper and Silver usually makes up the majority of the weight between pure gold and total bar weight and settlement payments are usually some percentage of the gold and silver content only. I would be wary of any buyer that substantionally undercuts what can be deduced from the above or more accurate weight and measurements.

Good luck.

 

[GoDeep]

Cool! Can you post up any pictures of it?!

 

[lilorphanannie]

I use DH Fell refinery,and have used them for years for kilos of dore. They now refine out of Albuquerque New Mexico. I can vouch for their honesty and integrity. Imepccable service as well. Call them ask to speak to Gabby, ,tell her what you have. You can even open up an account with them and it works like a bank. In about 4 business days you will have liquidated your asset. If you need help or clarification send me a private message.