Is this possible with Midwest Refineries?

[Corpsegrinder]

I have a little scrap gold purchasing store and wondering if anyone has sent there gold or silver in to acutally have it turned into pure gold or silver and put in bars, ingots or rounds?

Is this possiable? do they offer that service and how much does it normally run?

 

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[jim4silver]

I cannot answer your question directly. But it would probably be more cost efficient to sell your scrap gold and buy .999 bullion with the proceeds.

If you are hell bent on producing your own custom gold bars or rounds, there are companies out there that will do it for you. But you will most likely pay higher fees to have the molds, castings, etc, created for your own special creations. Unless you are gonna make a bunch of the rounds or bars, you are gonna lose money on the deal in the long run.

When it comes time to sell, many people (me included), would hesitate to buy gold in a form that is not universally recognizable.

My 2 cents. Good luck either way.

Jim

 

[Bumpstick]

I have a little scrap gold purchasing store and wondering if anyone has sent there gold or silver in to acutally have it turned into pure gold or silver and put in bars, ingots or rounds?

Is this possiable? do they offer that service and how much does it normally run?

Check this thread. http://forum.treasurenet.com/index.php/topic,205059.0.html
Third post down.
Jewlerdave Has a website link in his profile. Check it out I like to deal with TNet members myself.
He spells it out and how to figure your karat weight, and losses.

 

[Corpsegrinder]

Thanks for your replies. I did speak with Midwest and they do not offer that service except only when they have bullion available. but there has to be some refinery out their that will turn it into solid gold for you. Guess i will have to keep on searching..

Thanks guys..

 

[jewelerdave]

There is only one place in the US that offers this service. You happen to be reading his post.
We are currently working on making 1/4 1/2 and full ounce in addition to our 1/10th coins. This does take time.

We are also the only place in the US that refines it ourselves, and can make it into a salable product in house.
EVERYONE else out there when the say they can trade for bullion is just selling you, at a premium, someone elses gold.
Do you really think some place like midwest...and whats everyone's obsession with this place anyway? They just trade out other products they buy but will charge you a premium for it. They are not the US mint, They are not Pamp, they are not Englehard etc. They are just a buyer and processor. they can not take your gold and turn it into a Krugerrand or an American Eagle, they are not set up with a half million dollars in equipment to do that. They trade out at a premium.
Some companies will give you a rough bar if you like, I do the same for some.
Other mints just buy materials from refiners, They dont refine.
Either way, this is a service we have been providing to Colorado/Wy coin shops, pawn shops and investors, turning there junk gold into coins. we have provided this service and it has been valuble for a few reasons.
First off, Some just sell, but this gives the owner of the gold the power to sell when the market is favorable to what they want.
Second of, Anything produced my www.moonlightmint.com and Danial Carr carries a premium as he has a big following. Anyone who does get product that his name is attached to gets instant credibility and a premium. Most of the gold products he makes sell for %20 to %50 over spot. You dont need a calculator to figure that math out.