Gold hits 27 Year High

[jeff of pa]

$733.20

http://forum.treasurenet.com/index.php?action=Metals

 

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[Gold_Needle]

Hi,

Today the spot price of gold hit about $800.


I am finding out that if you prospect and have raw gold you wont get that spot price from the refiners or metal trading houses.

I cannot find any source to tell me if the U.S. Gov't buys gold directly from the public or not.

Does anyone know??

Another thing I learned is that if you have raw gold they will need an assay and a melt of the gold before buying.

Wonder if the old prospectors had this much red tape.........

 

[GeorgiaPossum]

I cannot find any source to tell me if the U.S. Gov't buys gold directly from the public or not.

Does anyone know??

The government will not buy small amounts of gold from the public.

"Raw" gold found by prospecting is not 99.9+% pure, so it does not make sense for refiners to pay spot price for it. It does make sense for them to assay it, and charge a fee for doing so.
I have not done business with Midwest Refineries, but hear positive things about them.
I have read that nuggets may sell for more than spot price on eBay, so it may be more profitable to sell them separately than to melt them down.

Good luck,
GeorgiaPossum

 

[EDDE]

 

[Gold_Needle]

Thanks George,

I will look into Midwest refiners.