How much are you selling your scrap gold for?

Beachkid23 · Jul 10, 2014

I see once in awhile people say they drop off their gold or scrap it. What % are you getting for it? Just wondering. The best I have found here is 75%.

willis7 · Jul 10, 2014

I'm getting 80 for mine at a jeweler that makes his own stuff

diggummup · Jul 10, 2014

I'm not... selling any of my gold that is.

Beachkid23 · Jul 10, 2014

diggummup said:
I'm not... selling any of my gold that is.

I figured! At what $ would you sell? Or is it more of I'll sell when I sell everything else first!

Punatic · Jul 10, 2014

I get 90-92% depending what I barter/banter for I northern Cali. Found a real good place who always has cool stuff to barter for and doesn't low ball.

diggummup · Jul 10, 2014

Believe it or not when I used to sell my scrap I would sell it on ebay and most of the time I would get just above or right below 100% melt before fees of course, so figure 80-85% on the low end. I also always started my scrap gold auctions at .99 no reserve. I was never disappointed. I sold at least a dozen small lots this way. It's been 2-3 years though. I used to sell my silver the same way (before prices dropped) until I listed a Tiffany cigarette box and it sold for about 70% of scrap value. Luckily the guy didn't pay and I got out of it. I still have the box.

jochart · Jul 10, 2014

NTR metals pays 98%, no assay fee, usually takes 20 mins. and you're out of there with a check

Beachkid23 · Jul 10, 2014

jochart said:
NTR metals pays 98%, no assay fee, usually takes 20 mins. and you're out of there with a check

Have you ever had them make you a gold bar out of the scrap? I'm tempted to get 1 done. Through ara refinery. How many grams of 14k to make a 1 oz .999 bar? Like 50?

diggummup · Jul 10, 2014

jochart said:
NTR metals pays 98%, no assay fee, usually takes 20 mins. and you're out of there with a check

Thanks. I'll keep that in mind. there are a couple locations down here in the tri county area. They are open to the general public aren't they? Not just commercial buyers and sellers?

diggummup · Jul 10, 2014

Beachkid23 said:
Have you ever had them make you a gold bar out of the scrap? I'm tempted to get 1 done. Through ara refinery. How many grams of 14k to make a 1 oz .999 bar? Like 50?

53.16 grams of 14k for a troy ounce of pure, if my calculations are right.

Beachkid23 · Jul 10, 2014

diggummup said:
53.16 grams of 14k for a troy ounce of pure, if my calculations are right.

Thanks... It's tempting! And would prevent selling little by little...I wonder if they charge, I may have to call tomorrow, after Friday morning shopping!

mugsisme · Jul 10, 2014

I get 80%. The other places I've tried have offered as low as 50%. I do sometimes smile and ask them for a little more, which they usually do.

silverdollarbill · Jul 11, 2014

jochart said:
NTR metals pays 98%, no assay fee, usually takes 20 mins. and you're out of there with a check

Wow that is great. I looked at site and they have a lot of locations. I saw details about the process and payment options which seem simple and flexible. I did not see anything about payment rate. Does it vary? Do you need to turn in a certain amount to get that payment?

jochart · Jul 11, 2014

I've only used the one in los angeles and they like you to have at least an ounce

buzzhead · Jul 11, 2014

I get 91% on any amount I take. Cash payment up to 5,000 at least. I did some research and found a place in NYC that pays 98%... But for me to travel 5/6 hours I'd need to take at minimum 3 to 4 Troy ounces..I'm totally happy with 91% and cash in hand when I scrap.

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Omega · Jul 11, 2014

jochart said:
I've only used the one in los angeles and they like you to have at least an ounce

Do you need a second hand dealers license?

kleinerschmitter · Jul 12, 2014

My new residence is fairly close to ARA in Dallas, I just took them all my jewelry a couple of weeks ago. Was paid 98% spot for my gold, no assay fees, and I think 90% for my silver but I'm not too sure on that one. I didn't give them much but I was very happy with their customer service, they were super nice, wanted to give me a tour of the place but I had a meeting to be at, I think I'll take that tour the next time I drop some stuff off.

Beachkid23 · Jul 12, 2014

kleinerschmitter said:
My new residence is fairly close to ARA in Dallas, I just took them all my jewelry a couple of weeks ago. Was paid 98% spot for my gold, no assay fees, and I think 90% for my silver but I'm not too sure on that one. I didn't give them much but I was very happy with their customer service, they were super nice, wanted to give me a tour of the place but I had a meeting to be at, I think I'll take that tour the next time I drop some stuff off.

After selling scrap gold on eBay I just sent them 10 grams this week. So I'll see how that goes~ I'm in a position to get a decent amount. But I always want to hoard it. It's tough being a new family at the moment. My paycheck wouldn't even cover daycare for the month. Finding a job in my trade without traveling all over the state wasn't worth it either. I may pick up 2nd shift somewhere for awhile. But I'm hoping ARA works out- i don't want to sell, but it's hard to keep it all at this point in my life.