Selling Scrap Gold Questions

[randazzo1]

As jochart said - send it to elemental. Easy, completely safe, and top dollar paid. Never had an issue on weight with them and they buy pretty much everything.

 

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[trdhrdr007]

As jochart said - send it to elemental. Easy, completely safe, and top dollar paid. Never had an issue on weight with them and they buy pretty much everything.

Do they require a commercial account or will they deal with the general public?

 

[EARL51]

Texas-Based U.S. Gold Refinery Pleads Guilty for Failing to Maintain an Adequate Anti-Money Laundering Program and Agrees to Forfeit $15M, Continuing Trend of Criminal Enforcement Actions and Prosecutions for Compliance Failures, Elemental admitted that from August 2012 through November 2016, it purchased and refined billions of dollars of gold from countries around the world, but willfully failed to develop, implement, and maintain an adequate BSA/AML compliance program, despite the high risk of gold-based money laundering.
I think they are out of business. ARA won't do business unless you are a company even though they had told me since I had sold to them in the past they would continue. Nope.

 

[randazzo1]

No they survived that issue.

 

[randazzo1]

Do they require a commercial account or will they deal with the general public?

You have to fill out paperwork to open an account but it’s a snap - mostly concerned with anti-terrorism / money laundering.

 

[GarageSaleKing]

I don't sell much scrap gold, but when I do, I don't bother with a refiner or anything like that. For me, it is much simpler. Just go to a major coin show near your house. Look for a buyer of gold. I get between 90 and 98 percent of melt from these dealers, with no mailing costs or issues.

 

[EQ8]

A troy ounce is 31 grams. They like to give you "common core" weights if you aren't careful.
I have an app called "ScrapIt" that gives you all the prices in grams for gold and silver.
You can get decent money on ebay if you hold out. Never expect to get spot though unless you find an individual who wants it.
No tax is a great selling point for that much gold too.
And ebay fees on that would be steep.
Good luck!