Selling Gold

[arizonaames]

I recently sold 14.7 dwt of .900+ fine gold from Rabbit Hole, NV and a man's 14k gold wedding band and a woman's 1/4 carat diamond ring to ARA (now calling themselves American Recycling Associates but previously, American Refining associates). I had mixed results but mostly positive. They broke the payments into 2 but issued one check. One payment receipt for the rings and another for the gold flake. The payment on the gold flake was $956.83. The payment for the rings was $178.73. I was a bit dissapointed on the price on the gold flake and called to inquire why the price was low. They said that they based the price they paid on the gold flake at 85% which brought the weight to 12.49 dwt. At $1,500 divided by 20 comes out to 75 so if one took 75X12.49=936.75. Thus, the payment was $20 higher and if you added on their commision, that was a good price. The ring prices were excellent since the weight of the man's ring was 2.9 dwt and the woman's ring was 1.5 dwt and both at 14k.

I waited after talking with them for 4 to 5 days for the check that they said went out already and never received it. I called a number of times and still no check. I finally talked to a woman that called me in order to cancel the check that they said they had sent me so that they could overnight a fedex to me with a new check. Turns out they had my address wrong.

 

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[arizonaames]

Thank you for the common sense approach to selling gold, Klondike. That is the most sense that I have seen on the subject. I, in the past, have seen smelter cheat one out of.900+ fine gold by telling the seller it was only 80% pure and then take a cut out of that for another profit. It pays to have it assayed prior to selling.

 

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[azblackbird]

Wondering why nobody just melts their own gold with flux to remove most of the impurities, then use the AR method to refine to .995. Then there would be no doubt what it's worth or what the purity level is.

 

[Klondikeike]

Because it wouldn't be certified..and you'd have to get an assay anyway....anyone could say it is .995.. but proving it is another thing...that is what a certification does for you...in ANY place in the world...

Klondike...

 

[azblackbird]

Because it wouldn't be certified..and you'd have to get an assay anyway....anyone could say it is .995.. but proving it is another thing...that is what a certification does for you...in ANY place in the world...

I was referring to selling your gold to a refiner. If you refine it down on your end to .995 purity and know the weight, then it would be hard to get screwed by an unscrupulous refiner, as you'll know before hand what price you'll be getting.

 

[Hoser John]

Fell in Santa Fe Springs in Kalif for over 25 years,honest and with many payout options. John

 

[russau]

Because it wouldn't be certified..and you'd have to get an assay anyway....anyone could say it is .995.. but proving it is another thing...that is what a certification does for you...in ANY place in the world...

I was referring to selling your gold to a refiner. If you refine it down on your end to .995 purity and know the weight, then it would be hard to get screwed by an unscrupulous refiner, as you'll know before hand what price you'll be getting.

dont matter! whatever you do to your gold, the refiner does his thing and you pay for it . youll be paying twice for he results. yes ,youll get a idea of what youll have but the purity of your gold would be upto the findings of the refiner and HIS tests. unless you pay to have someone do this that really knows what theyre doing,youll really never know its purity,then all the other gold you get from that same stream should be of the same purity. the next creek you do probly will be of a different purity.

 

[arizonaames]

A certified assay report is a certified assay report and no refinery can dispute it. The gold does have to come from the same claim or source. For the cost of the assay you would save hundreds of dollars from being cheated from some pretty unscrupulous characters out there. Kondike knows what he is talking about and how to get the best price from a refinery. Now if you have jewelry, the k is stamped on the gold jewely so the refinery cannot dispute its' value. Now if you think that every refinery is honest then I would have to say that you probably believe in the tooth ferry and that the republican party wants, like they have always wanted since their inceptions, SS and medicare.

Because it wouldn't be certified..and you'd have to get an assay anyway....anyone could say it is .995.. but proving it is another thing...that is what a certification does for you...in ANY place in the world...

I was referring to selling your gold to a refiner. If you refine it down on your end to .995 purity and know the weight, then it would be hard to get screwed by an unscrupulous refiner, as you'll know before hand what price you'll be getting.

dont matter! whatever you do to your gold, the refiner does his thing and you pay for it . youll be paying twice for he results. yes ,youll get a idea of what youll have but the purity of your gold would be upto the findings of the refiner and HIS tests. unless you pay to have someone do this that really knows what theyre doing,youll really never know its purity,then all the other gold you get from that same stream should be of the same purity. the next creek you do probly will be of a different purity.

 

[nuggetshooter323]

I send my gold to Midwest Refineries. The last time I delt with them, they gave 93% for gold and silver. Thats scrap, flake, or dust.

 

[scooterl]

yes i have been using Midwest Refineries too they have been sending me a check real quick for gold that i have panned and gold that i have found with my detector