I got paid for my damaged and unwanted GOLD, $1,116.95¢.

[Ant]

This what I got for 2.689 troy oz’s wt. of my damaged and unwanted gold finds, about a 1/3rd of my total. This is my first recycling sell since starting the hobby about 4 years ago. Almost everything I sent in was 14k, which included bracelet chains, bracelets, damaged rings and pendants, many that contain lots of gold solder. I’d give Midwest a thumb’s up.
Now I only have to fork out about $400.00 to get the top of the line metal detecting machine for deep silver in my area, the ML SE. I’m highly considering making my purchase from sun ray. That’s because they have the pinpointer that the guys use around here.

 

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[SHERMANVILLE ILLINOIS]

Good job.

 

[savant365]

That sounds great. I was wondering how to get rid of stuff like that, its nice to hear that they are a reputable company. Good luck with the SE and HH, Charlie.

 

[bootybay]

holey moley you did greattttttttttt Ant... cant wait to hear what ya find with your new machine as well.... what a nice chunk of change ya got.

 

[Digginman]

That's alot of gold jewelry. You have done well. Good luck with the new detector.

DM

 

[EDDE]

Like you said you sent way more 14 KT then i did
also was gold at its lowest when they did the settlement ?

 

[bomber]

awesome! congrats

 

[Ant]

Hey, thanks all of you.

Like you said you sent way more 14 KT then i did
also was gold at its lowest when they did the settlement ?

Yeah EDDE, they paid at the lowest market price for that day (7th of Feb.) at $896.00, and it looks like Gold peaked that day at $911.00, closed at $909.00. I can’t blame them for that because I’m sure that if the shoes were on the other foot I or you would do the same thing, that just business.

I think they played the game like this:
When gold started to shoot up gobs of common people like me and large manufactures and likes sent it large and small lots of precious metals/Gold. They worked the large lots ASAP and shipped out when the price dipped saving the smaller lots to gamble with on the market. There’s no check and balance that we can use to verify the legitimacy of the results of the assay test they conduct, like we can using the market spot price, know what I saying?

 

[bootybay]

still, if ya think about it... its free money to you, I mean unless you were a jeweler, who melted his own gold to remake, but rather then have a pile of broken stuff... ya got yourself a nice chunk of change on that one..I know I would be thrilled to death on that one..and I know your thrilled Ant.

 

[eathabs]

Well done ANT!!! I have yet to find any gold with my machine but have eyeballed two chains. I don't think these two would get me too much though.

 

[Sandman]

WTG ANT! I am lucky enough to live near Midwest and can visit. I should sell more of mine.

 

[cavers5]

Way to go! Thanks for posting. It's info like this that helps us all1

Cavers5

 

[scooterl]

hi yall first post on here i just sent about 3 ounces of gold and a heavy silver chain. to midwest i sent it when gold was just starting to go up i hope that get me some good money. ill tell you what i get from them

 

[jewelerdave]

One thing you folks should do before you tote how great they are, is have an independent assay done on your stuff.

One way to keep a refiner honest is to melt it all into one bar, cut it in half, and send it in, and tell em the other half went to a different refiner, or not and just send the other half to another refiner, and see how similar the results are when they come back.
Or just send it in as a bar and make it look like it was cut in half.

I dare ya to do it, in fact I double dog dare ya to do it.
If you look like your going to be a one time or one shot or once every few years shot customer. There is a chance your not going to get paid what you should be. If this was your first recycle in 4 years. It may be another 4 before you send in again if ever.

Most 14k I process I find to be in the range of .55% pure. after stones and dirt are removed and the batch melted. sometimes I am surprised and do get like 57%
Heavy soldered pieces like chains always run lower but if you send it mostly 14k did you weight it out and find a ratio? 50.7% for mostly 14k seems lower than it should be.
if a lot of them were pendants/charms I find quite a few to be mis marked they are 10k and not 14k
I am not saying dont use these guys, but just take the advice to get second opinions or independent assays. Or at least use the old I send the other half to another refiner bit as it helps give you an edge.

 

[bradyboy]

question
How difficult would it be do melt your scrap on your own?

 

[Ant]

question
How difficult would it be do melt your scrap on your own?

You can't safely melt silver or gold without a proper crucible, it could splatter all over if you don't. And I think you’ll need to add a little flux (borox or flower) to prevent the melt from splattering/oxidizing. To melt it safely you’ll need the right crucible. A propane or map gas torch will do but a furnace is safer. You can let it cool in the crucible or you can transfer it to the proper type of ceramic dish to cool and then you can extract the button.

Jeweler Dave is the man to ask. I’m just telling you what little I know.