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carter
08-01-2012, 10:53 AM
How do miners make profit selling gold? They take a hit from the irs and the assayer. My dredged gold is 830 fineness, there is a deduction, then assaying fee, and i think one other fee. Assay company dont care if it is fines, pickers, or nuggets.(i bet they seperate them later) Who is gonna give me close to spot or more for jewelers or nuggets? Oxford, GSR, jewelry stores, or? Jewelery store didnt even want to see it, says do to economy being bad. I keep hearing about twice the spot price for nuggets ect. Is this something seasoned gold sellers dont want to devulge? I am used to getting 1100 for 1500 spot now but would be nice to get spot .

Steve Herschbach
08-02-2012, 12:23 PM
Take a small nugget worth $10 at $1600 an ounce. Sell it to someone for $20. Not that hard to do. You just got double spot. You also have a lot of work ahead to sell any amount of gold.

Nobody who buys and resells is going to give you spot or more for anything other than exceptional specimens.

Minermike
08-02-2012, 07:48 PM
The middle men always want to make a dollar or two....

ptaylor
08-07-2012, 12:59 PM
Hello,
I'm looking to buy some pickers and nuggets.
Some one want to sell some?
I'm not going to pay spot but have cash.

carter
08-08-2012, 11:28 AM
Hello,
I'm looking to buy some pickers and nuggets.
Some one want to sell some?
I'm not going to pay spot but have cash.

Hey, reading my original post shows my frustration of everybody sticking their hand out in life. You are NOT paying spot for gold that generally is worth twice doesnt help me out much. Thanx, but no thanx - spot wouldve at least showed me a decent offer.

AKdredger
08-08-2012, 12:39 PM
If its any consolation, I tried to several several ounces this winter. I tried all of the old contacts I had, several jewelers and a few different refineries. I was not able to obtain better than 80% of spot after fees. When it was cheaper I could sell it all day long at spot +, not so easy now. Ebay works but by the time you pay their fees and paypal fees you get even less. Cost of doing business I guess. I only sell when I want some new toys, other wise its just a nice shiny collection. Good luck trying to sell yours, its not fun or easy.

geowizard
08-08-2012, 02:06 PM
carter,

Would you pay me spot for my gold?

How about two times spot so I can show a profit? :)

Since my gold isn't pure; it's only 900 fine (maybe)... would you refine it for free before you buy it?

Let's say you bought my gold for spot and didn't charge me to refine it...

What would you do with it?

Any serious buyer is going to have to do four things;

1. Melt the gold in a melting dish/crucible to remove bs and matrix.

2. Part the copper and silver with acid.

3. Re-melt the refined gold and weigh it.

4. Buy it at less than spot, so they can make a profit for handling the transaction.

Refiners sell gold in the same market everyone else does. If the refiner has a mint mark - he may sell as much as 10 percent over spot.

- Geowizard

fineswme
08-08-2012, 03:19 PM
PTAYLOR what are you looking to Spend an ounce and how many are you looking to buy ???

Minermike
08-08-2012, 11:07 PM
Just hang on to your gold as long as you can. It might have some slow times BUT it will always go up in price, that is my view.

carter
08-09-2012, 10:20 AM
carter,

Would you pay me spot for my gold?

How about two times spot so I can show a profit? :)



Since my gold isn't pure; it's only 900 fine (maybe)... would you refine it for free before you buy it?

Let's say you bought my gold for spot and didn't charge me to refine it...

What would you do with it?

Any serious buyer is going to have to do four things;

1. Melt the gold in a melting dish/crucible to remove bs and matrix.

2. Part the copper and silver with acid.

3. Re-melt the refined gold and weigh it.

4. Buy it at less than spot, so they can make a profit for handling the transaction.

Refiners sell gold in the same market everyone else does. If the refiner has a mint mark - he may sell as much as 10 percent over spot.

- Geowizard


Geo,

I know what you are saying but he wants pickers & nuggets. A guy would be getting a better deal wanting fines (less impurities but still get to deduct fineness, ect.) -If you are doing one of the four steps you noted. But & i say but, if it is jewelery or on a auction or gifts then how much? The assayer i use treats me fine, he gets what he has to to run a business, but when i sold a couple nuggets to them and they go in a seperate container than the small gold, i wondered were it goes. Anyways thanx for a reply, i really enjoy this sight and thanx for the offer PTaylor

ptaylor
08-21-2012, 02:01 AM
Fineswme,
I'm looking for about a pound depending on price and that depends on purity of gold.

Sobie2
08-22-2012, 08:54 AM
Ahh the uphill battle of being a small miner. It is work to find a location, it is work to bring equipment in to mine, it is work to mine, and then dang it, it is work to sell the gold you find.

There has got to be a country western song here some where.... and THAT is where you will make your millions :)

Sobie2