Is there money buying gold in places like gnome alaska and resell?

davinci

Full Member
Jan 2, 2013
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Primary Interest:
All Treasure Hunting
I was wondering if there is good money in being a gold buyer in places like gnome Alaska and then reselling it? I always wondered how much below market value those guys pay for the gold? Anyone know? On shows the prospectors estimate it at what the market price per ounce is times how many ounces...but it wouldn't make sense for a gold buyer to pay market price..there wouldn't be a profit. Can someone share there opinion on this? Thank you
 

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Fullpan

Bronze Member
May 6, 2012
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nevada
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Can't speak on Nome, but from the late 70's thru 2008 the rivers in Ca. were "infested" in summer with gold dredging camps. I think highest number of dredge
permits issued during that period was about 9,000 one year. Some of those locations were pretty remote, so it was a pita to go into town and get 75 to 85%
of spot at the local jewellery store/pawn shop. I hatched a plan to visit those camps (with protection), using portable gold scale and offering comparable
prices - maybe carry beer and cigs to sell. I would then take the dust, melt it into a purer button, and sell quantity at say 95%. Decided it was just too risky
for one person out there with wads of cash, and a bodyguard would cut into profit. It all ended with the dredge ban, but still I wonder? A little off-topic, sorry.
 

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