Gold Buyer...who is most reputable.

[nvradar]

Hey guys I've finished my gold refining which is testing at 22k, and was hoping to find who is the best buyer as well as who pays the most from your experiences. Thanks NVRADAR

 

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[Treasure_Hunter]

Midwest Refinery is one many use..

 

[nvradar]

Thanks TN I'll look them up.

 

[nvradar]

ARA vs Mid West refiners

I'm going to do an experiment ...I THINK. lol. I sent this gold to ARA and they should receive it today(thursday 30th). Depending on what they give for it I will send another bar close to the same weight to Mid West Refiners. ARA says they pay 98% Mid West says they pay 95%. I'm really curious to see who truly pays what. I picked these two because they have been recommended here and elsewhere. Both bars were poured from the same gold. ZERO DIFFERENCE in karat just weight.Both of the bars I'm sending are better than 22k gold according to my acid tests. I did use nitric acid on my own processing of this gold as well. Care to say who will pay best? ARA gets the 98g. and MW will get the 112.3g. UNLESS!!!! ARA pays what they say they do. I won't gamble like that.

 

[Marchas45]

My guess ARA

 

[nvradar]

Marchas45... have you ever used either of them?

 

[billjustbill]

I'm going to do an experiment ...I THINK. lol. I sent this gold to ARA and they should receive it today(thursday 30th). Depending on what they give for it I will send another bar close to the same weight to Mid West Refiners. ARA says they pay 98% Mid West says they pay 95%. I'm really curious to see who truly pays what. I picked these two because they have been recommended here and elsewhere. Both bars were poured from the same gold. ZERO DIFFERENCE in karat just weight.Both of the bars I'm sending are better than 22k gold according to my acid tests. I did use nitric acid on my own processing of this gold as well. Care to say who will pay best? ARA gets the 98g. and MW will get the 112.3g. UNLESS!!!! ARA pays what they say they do. I won't gamble like that.

Great Testing of honesty between those two.... I'm betting on Mid West coming back with the best return....

I don't remember where I read this information, but I thought that ARA wouldn't take melted silver or gold? Have you heard from either refiner yet?

I'll be looking for how things work out for you!

Bill

 

[Treasure_Hunter]

Remember the melt value is on day of melt down, not day they receive package...

 

[Marchas45]

Used both but I preferred ARA as they were the fastest service and always seemed to pay more. Also Treasure Hunter made a good point on when they decide melt value. I never thought or new that.
By the way I used these refiners years ago when I first got into stacking but now I concentrate on bars and rounds and not jewelry. Keep Stacking

 

[nvradar]

I will keep you posted of the results. I checked tracking and the gold was delivered Friday(1st) So I'm waiting to see. The website says they notify you when it's received. None yet. Monday I should hear something. They say what type of stuff they won't accept.

Yes TN.... when they melt,assay and weigh thats when you can be paid,or you can have them "pool" your gold and buy it when you say so. I'm thinking where they will get me is in the karat...I melted this gold and poured it into a bucket of water to make smaller pieces so the nitric acid I used could do a much better job of riding the silver and any other crap. Then poured the bar again. Like I said I tested with my acids and stone and it was better than 22k. I'm hoping but strangely nervous.

 

[nvradar]

Well.... my gold arrived at ARA 5/1. No email as of yet telling me it was received, as their web site states. Sent an email asking the pertinent info. SIGH..

 

[nvradar]

ARA replied this morning:

GROSS WT: 63.00 DWT
MELT WT. 62.90 DWT
YEILD WT. 53.21 DWT
PURITY 84.60%
MARKET PRICE $1193.90 OZT.
ADV. PRICE 98%
$58.50 DWT
PAID $3113.04

What do you guys think?

 

[Treasure_Hunter]

Well weight is very close to what you said and you tested it at 22k which I think is about 90-91% pure and they say it is 84.6% pure.

How old was your acid you used to test? I found with mine it ages and not as accurate.

I personally think you had a good season since you still have one more to report back on.

 

[nvradar]

I purchased the acid from ebay about 3 weeks ago. Well as for purity 83.33% is 20k, 91.67% is 22k. So I'm at around 21k. it seems.

 

[nvradar]

Mid West says 95% of spot so we shall see how it differs from 98%. I wish I had another 98 gram to see exactly how they differ. I could mix and match some smaller ones to get very close to the same weight, but the math will tell us anyway no matter the weight.

 

[jim4silver]

This may be a dumb question, buy why not just send your jewelry to the refiner instead of melting it first, then sending it in? It seems like a lot of work and trouble when you are going to melt the stuff anyway. Not that whatever fineness is stamped on jewelry is always accurate, but if you just send a blog of metal there seems to be no way to contest whatever fineness they decide to give it.

Just my opinion.

Jim

 

[nvradar]

I wish it was that simple Jim. All my gold comes from this black sand I mined over the years. I sent off a bar to MW today so when I get the results of it I'll post it. I sent the 112.3 g. bar in the picture above.

 

[jim4silver]

I wish it was that simple Jim. All my gold comes from this black sand I mined over the years. I sent off a bar to MW today so when I get the results of it I'll post it. I sent the 112.3 g. bar in the picture above.

Well in that case, I would say those ugly ingots are pretty awesome!

Jim

 

[nvradar]

Well now.... nobody ever told me my ingot was ugly. It's still GOLD Jim!! lol

 

[nvradar]

So today is Friday 8th, my gold was received the 1st. Am I jumping the gun here wondering where my payment is? Their website says "same day turn around if received before 2pm cst." another section states 2-4 days. I guess wait til Monday. Sigh...