ARA Refinery - Experience and Results.

[Skippy SH13]

Edit: No longer maintaining post.

 

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[Terry Soloman]

We have used ARA for many years with no problems. Two-Thumbs way up!

 

[Msbeepbeep]

You did better than I at a local dealer, I got 45-% of gold melt value of a couple of 14 K. Items. I won't deal there again

 

[thebirdflu]

Great write up Skippy! It's really appreciated. I'm still saving up all of my scrap gold and silver from yard sales (unfortunately no MD finds to date) so if I ever decide to sell them this will be the way to go.

 

[Tom_in_CA]

Skippy, thanx for the write-up of your experience ! HOWEVER:

1) The fact that you had to give them your tax-payer ID # (your Soc. Sec. #), and

2) the fact that the payout is over $600 to you,

Means that they will be issuing you a 1099. Meaning: You must report it on your taxes now.

Does anyone know if ARA is reporting the payouts (the ones over $600 anyhow) to the govt. on the 1099s? Have you, or has anyone here, who's sold to them, seen a 1099 in your mailbox the following January or February ?

If so, a possible way around this, is to parse out your sales to various buyers for $599 or less from each smelter/refiner ?

 

[against the wind]

That's a really decent return.
You won't get a 92% melt value, using local jewelers.
Especially in NYC.
Excellent post

 

[audigger53]

Geib Refining Corp. Precious metal refining and reclaim, Warwick, RI USA
If you have amounts in the Oz. range these people are good. Used to be 3% to refine and 3% to buy it. Some places charge 10% to refine and higher. They have been in business for a long time. For dust and nuggets, you have to state the State and county for taxing. Feds, State, and County taken out after the 6%. Checked them out back in 1980 when my brother and I first started looking.