Buying Paydirt or Concentrates: Why you Shouldn't..

[blynch35]

that is some good looking gold for sure

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[Terry Soloman]

guess I OVERSALTED that batch Ben.........funny pretty much everybody that has given me there end results came out at,or above what they paid.....boy what a scam I am running!!!!

So you are selling 20-karat grams for $60.00. Good gig. What is a gram of pickers going for on ebay? Anybody?

How to Calculate Gold Price By Karat & Weight

First, divide the karat (24; 18; 14; 10) by 24. Now multiply that number by today's gold price per gram. So, if you have a five-gram 10K gold ring, and the current price of gold is $1,600.00 per ounce - or $51.45 per gram ($1,600.00 divided by 31.1 grams), then your 10K gold ring is worth $21.44 per gram ($51.45 x .4167), or $107.20.

10k = 10/24 = .4167
14k = 14/24 = .5833
18k = 18/24 = .750
22k = 22/24 = .9167

If you have five- grams of 14K, and gold is $1,600.00 today, then $1,600 divided by 31.1 would equal $51.45. That figure, multiplied by .5833 (14K) comes out to $30.01 per gram. $30.01 x five- grams equals $150.05.

Some gold buyers use pennyweight (DWT) instead of grams. There are 20- pennyweights per troy ounce. Let’s say you want to sell your gold. You know it weighs 25 grams. You go to a pawn shop to see what they will pay, but they use pennyweights, not grams. Here's how to calculate the conversion: 25 grams of gold x 0.643 = 16.1 pennyweights.
Pennyweights to Grams............divide by 1.55517

Grams to Pennyweights............Multiply by 0.643

[blynch35]

Terry

I think your looking at this a little differant than others here because of your bussiness. I see it like this when i was a kid i would do odd jobs to get some money to go to the card shop and buy basball cards. I remember how excited i was to slowly open the pack and pull one card out at a time and carefully read it and see if i had found a gem or just another card it's the not knowing of what is coming next that is exaggerating. I have found gold prospecting to be just the same feeling and when i bought my bag of pay dirt the last thing on my mind was ''it better pay for is self or somthing like that" i was just hoping to find a few specks but the feeling and excitement was there and you put that all together and man its great.And how many of us are out here to get rich most of us except for a few all spend more than we find so this is no differant its just more convenute to do it at home. I would suspect that not everybody goes home from one you your adventures with there money back in gold but they have a great time and thats whats worth it. I dont mean any disrespect its just my view of this whole thing.

[Oakview2]

Not to be nitpicking but close of market is 1770 today. Let's hope it keeps going up.

So you are selling 20-karat grams for $60.00. Good gig. What is a gram of pickers going for on ebay? Anybody?

How to Calculate Gold Price By Karat & Weight

First, divide the karat (24; 18; 14; 10) by 24. Now multiply that number by today's gold price per gram. So, if you have a five-gram 10K gold ring, and the current price of gold is $1,600.00 per ounce - or $51.45 per gram ($1,600.00 divided by 31.1 grams), then your 10K gold ring is worth $21.44 per gram ($51.45 x .4167), or $107.20.

10k = 10/24 = .4167
14k = 14/24 = .5833
18k = 18/24 = .750
22k = 22/24 = .9167

If you have five- grams of 14K, and gold is $1,600.00 today, then $1,600 divided by 31.1 would equal $51.45. That figure, multiplied by .5833 (14K) comes out to $30.01 per gram. $30.01 x five- grams equals $150.05.

Some gold buyers use pennyweight (DWT) instead of grams. There are 20- pennyweights per troy ounce. Let’s say you want to sell your gold. You know it weighs 25 grams. You go to a pawn shop to see what they will pay, but they use pennyweights, not grams. Here's how to calculate the conversion: 25 grams of gold x 0.643 = 16.1 pennyweights.
Pennyweights to Grams............divide by 1.55517

Grams to Pennyweights............Multiply by 0.643

[nickmarch]

So you are selling 20-karat grams for $60.00. Good gig. What is a gram of pickers going for on ebay? Anybody?

...

About $60.

http://www.ebay.com/sch/Coins-Paper-...pickers&_sop=1


...

[Terry Soloman]

...

About $60.

pickers | eBay


...

Exactly. and the price for 24K gold today is $1,770.00 which means $57.00 a gram. Anybody getting this?

[Ben Cartwright SASS]

This is not a business to me, it is a hobby. The last 3 trips up the NH cost me about $300, didn't find a speck of gold, although got some keeper Garnets (they are pretty much worthless anyway), based on $57 a gram I would need to average about 1.5 grams per trip or I should not go. People do hobbies not for any financial reward, if you figured how much it is to play golf, for what reward unless you gamble, you wouldn't do it if you needed to make it pay for itself. Just like your school, would I expect to come back with the same or more money than it cost me for the airfare, time off from work, cost of school? No I would go because I enjoy it and it makes me happy not for that probability that I would make more than I spent. None of my hobbies will make me money but they let me forget about working day after day and bring me happiness. I don't belittle anyone on how they enjoy their hobby, in the HO train hobby we have people who BUY ALREADY BUILT BUILDINGS, they don't build them from scratch, some belittle them, but it brings them joy, so is it wrong? They don't look at the cost of it, of course the guy who builds from scratch and puts literally 100 hours into a building, will he get his money back or his monies worth?

I guess that is the bottom line, do you enjoy it and does it make you happy? Once you lose those feelings and you still do it, it has become a job not a hobby.

[Terry Soloman]

This is not a business to me, it is a hobby. The last 3 trips up the NH cost me about $300, didn't find a speck of gold..

Bingo. So you choose to just buy your gold and pan it out at your house. That's fine with me as long as you realize you are buying a gram of gold at an inflated price, and do not even have a chance of "profiting" from your purchase. Claims by sellers that they have no idea how much gold is in their paydirt - but gaurantee "at least a gram of gold" in each bag," are Con Artists - in my opinion. Whether you agree or disagree doesn't change my OPINION.

[kuger]

Terry,you need to let it go dude!Dont be afraid,I wont take any business from your scam.Are your students guaranteed to find $1000(or what ever you fleece from them)worth of gold?You are not hearing from the folks that did get more than they paid for.I am not in control of that

[Ben Cartwright SASS]

I belong to a local sportsmans club, I like to fish, we stock the pond twice a year with trout, I can catch an occaisional one. I have had hard core fishermen give me a hard time for not getting out in a small stream and trying to catch a wild trout. I may not get the whole experiance of standing in a small stream and it costs me more per fish, but I enjoy it. Nothing like sitting in a chair with a rod or conversely a pan, and a cold brew next to me

I am enjoying my hobby, both by paydirt, in the field and in the buckets I bring back and pan later. I don't expect to even break even in any of my hobbies, especially gold panning in N.E., in fact I would like to hear from anyone in N.E. who has ever even cleared gas money.

[kuger]

Exactly. and the price for 24K gold today is $1,770.00 which means $57.00 a gram. Anybody getting this?

Yea,I think I am getting it as are the people that are burning up my PM box to buy dirt....thanks Terry!!!!Alas as I said,I am not selling the remainder of the dirt I have....if I was getting so filthy rich,why then would I be holding back a few thousand dollars in dirt?What about the other 8 ounces I pulled this year?Hmmmm,you getting it?BTW,since you are a Teacher of sorts,perhaps break down a prospecting trip,for these fine folks....equipt,food,gas,vehichle maintenance/repair,permits....etc...whats all that cost?Now lets talk about how many trips a guy actually finds gold(especially M.Ding)Hm,starting to add up!Seeins how my dirt starts at $20 per lb,and I have nevre charged more than $55......and had not one person give negative feedback this year,I would say the proof is in the pudding

[kuger]

....also how many panning trips have you taken Terry,where you got gold like that from a pound of dirt.What did that tripcost ya?You have zero knowledge of what purity the gold in my area is as well

[Oakview2]

I spent some time on the Merced yesterday, spent 200+ on fuel, food, ect, and got a few pieces for my trouble. If I was in it for the money, I would be way behind. However I did spend the day with my wife and kids and dog and sometimes those are the real treasures you find on these trips. Forgot how much I missed my highbanker, having to classify, carry and sluice buckets in the heat yesterday. Came home early as the heat was unbearable, even at Briceburg.

[nickmarch]

... you are buying a gram of gold at an inflated price, and do not even have a chance of "profiting" from your purchase...

The price of a gram of gold from a broker is about $86.00 per gram if you buy 20 grams or more. Some dealers sell a gram for as high as $95 per gram.

Credit Suisse Gold bullion bars for sale. 1 - 10 gram gold bars

If the price of gold goes up they can profit be it grams from a gold broker or gold from paydirt so there is a chance of profiting.

[Terry Soloman]

Bingo. So you choose to just buy your gold and pan it out at your house. That's fine with me as long as you realize you are buying a gram of gold at an inflated price, and do not even have a chance of "profiting" from your purchase. Claims by sellers that they have no idea how much gold is in their paydirt - but gaurantee "at least a gram of gold" in each bag," are Con Artists - in my opinion. Whether you agree or disagree doesn't change my OPINION.

.. X2

[kuger]

.. X2

...if you are going to ridicule at least get your facts straight......I dont guarantee anything.Dude,its OK to admit your wrong.This is a battle you will not win.I dont know anything about anybody else selling dirt.Most those guys I beleive are in it as a business,I am not.I was asked years ago if I would sell some concentrates...never thought about it,did,and do sell if some one asks.I have never,will never advertise.If you would like to try some of my dirt,I will sell some to ya,if you are happy,so am I,if not,thats told when you buy,I cant/dont guarantee anything.Given how many people come back every year two three times a year,I guess they must be doing OK.Every single person that reported back last year got more than they paid for.
How about those cost figures Terry?

[nickmarch]

So between the 2 bags that cost $110 I found $113 at todays price.

So you profited from your purchase. THAT'S GREAT! I am sure you also enjoyed panning the paydirt as a multitude of others do.


Doubtful that someone paying $400 per day to use equipment and access a claim would profit from their adventure but I assume they do it for the fun and the experience. If they were doing it for profit they would have their own equipment and claim or prospecting locations. For less than $400 they could purchase their own equipment but some choose to pay $400 for a day of using someone elses equipment.

Some even pay to play at public mines for about $20 per day or less.

To each his own!

[kuger]

So you profited from your purchase. THAT'S GREAT! I am sure you also enjoyed panning the paydirt as a multitude of others do.


Doubtful that someone paying $400 per day to use equipment and access a claim would profit from their adventure but I assume they do it for the fun and the experience. If they were doing it for profit they would have their own equipment and claim or prospecting locations. For less than $400 they could purchase their own equipment but some choose to pay $400 for a day of using someone elses equipment.

Some even pay to play at public mines for about $20 per day or less.

To each his own!

Is this ^^^^^what you are getting Terry??

[nickmarch]

kuger,

You don't think it's worth $400 for one person, per day to use someone elses metal detector and claim? Don't forget there are shovels and stuff involved. Instruction too! I would think that if there was any decent amount of gold on the claims that mining it myself would be profitable but why do all that work when a select few will pay $400 per day?

Maybe if no one sold paydirt more would pay such a large fee?

How many grams could be bought for $400? No digging, no travel expenses, no accommodation expenses, ect. Quality paydirt sounds better to me!

[kuger]

....I think I am GETTING it.....
Geeze,feed em some bs,rent em your equipt(paying for your equip)get sponsorships from different Companies that GIVE you equipt,and probably salt the dirt to prove that your methods really do work!!!Maybe I am going about this all wrong!!!