GOLD FILLED REFINING REPORT

[cyberdan]

I am disappointed in the payout! That's my report!

First I have to say I trust my refinery to payout on what they got. My refinery is ARA and they have always come right in where I thought they would.

ARA has a minimum requirement on refining gold filled. It is 500 grams. It took me over one year to accumulate that much, one piece at a time.

I sent in exactly 500 grams and based on my calculations I expected $556 but I only got $349. I wrote a spreadsheet that formulated on the gold fraction (1/20 or whatever) and the mark (12K or whatever) and the weight in grams. For most of the year I calculated I would get about $1 per gram. Everybody knows that a 14K ring is really 13.5 or even less. You just can't trust jewelry manufacturers. I guess that holds true for GF makers too. Also, because GF only has precious metals on the outside and most GF is older any wear at all wears off the gold.

So what I have done is adjusted my spreadsheet to show a 38% discount because that is how much it is off. Next year, when I send in another batch I think I will be closer on the numbers.

By the way that 500 grams of GF only cost me $131 so I still made good.

 

Amazon Forum Fav 👍

Diving for Pleasure and Treasure - Grab it through Amazon!

[trdhrdr007]

Thanks for posting your results. I've been setting aside GF myself so all info is helpful. I'm a long way from the 500 gram point but will eventually get there. Knowing that you got 38% less than expected will help me out on the buy side.

 

[cyberdan]

Knowing that you got 38% less than expected will help me out on the buy side.

I was hoping this would help someone. When I was calculating what I pay I was basing it on getting $1gr and sometimes I would pay 50¢gr Now that I know I will get less I may pay up to 35¢gr. Of course I always try to get the best price.

 

[trdhrdr007]

I do most of my buying based on dwt but was close to where you were on the buy side. I'm definitely going to rethink that. I have a hard enough time convincing myself GF is worth buying, especially considering it could take 12-18 months to accumulate enough to refine & there's always the risk of significant spot price changes.

 

[Silver Surfer]

I didnt know about the 500gm minimum.... That would explain why my last payout was lower than I expected... I had one medium size GF necklace that I included... I guess they got that gold for free??

 

[cyberdan]

I didnt know about the 500gm minimum.... That would explain why my last payout was lower than I expected... I had one medium size GF necklace that I included... I guess they got that gold for free??

When I first started I sent them a heavy chain. I knew it was GF and I got a check for just a few $$. I later called about something else and in our conversation learned about the 500gm min. They have good customer service and just processed it without telling me that rule.

If your GF chain was mixed in with a lot of gold and they didn't catch it it just got processed with the rest. Their payout is based on pure gold weight. I am sure you got paid for it.