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Cha-ching in a blizzard!!

rcptuna

Elite Member
Joined
Oct 7, 2007
Messages
915
Location
North Shore Massachusetts
I always like to give credit, where credit is due.
After 3 years of detecting I finally decided to send some treasure to melt. I only sent items that were modern, non historical or collectible. I sent an insured package to Midwest Refineries with a 100% positive experience.
http://www.midwestrefineries.com/

After holding my check in hand; the pit in my stomach is gone.

With all those hours of swinging it feels good to get some payback and I still have my best goodies in a safe deposit box. After all the weird looks, muddy wet sox, and comments like were you out with your Geiger Counter again??

I SAY HOW YOU LIKE ME NOW!!!!!!!!!!!!!!!!!!!!!

My 2 points are put the time in and you will be rewarded and I wanted you all to know I had a great experience with Midwest Refineries. They will get my business again when I rebuild my booty.

My girlfriend wants to know when I'm going out again to start rebuilding, funny how green changes perspectives so quickly!!

Enjoy the winter all!!
 

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YAY!!!! Congrats! Gives me a little something to look forward to! How long did it take you to find all of the gold and silver you sent in?
 
YAY!!!! Congrats! Gives me a little something to look forward to! How long did it take you to find all of the gold and silver you sent in?

oooppssss...3yrs...i answered my own question! I should have read what you wrote more carefully the first time i read it!
 
Cha-ching and a half! That's a nice chunk of change.

How did they get $1463? With 2.2 oz gold listed (in addition to the silver) and gold going for about $1380 an oz now, it seems like it should be more.
 
I've never dealt with refiners (cause I haven't found any precious metals)...but I'd be willing to bet they didn't cut a check for higher was for the fact that gold's price is based on 24k. There might have been some jewelry he submitted that was lower in karat weight...so they adjust price accordingly. Just my guess!


CONGRATULATIONS!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
 
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Cha-ching and a half! That's a nice chunk of change.

How did they get $1463? With 2.2 oz gold listed (in addition to the silver) and gold going for about $1380 an oz now, it seems like it should be more.

Thats what i was just thinking. 2 oz of gold should be like $2000+ just for the gold.
 
Could you clarify the document? I agree, if the troy oz were gold (24K) you should have realized a lot more $$. It is just not clear from what you have shown. RickO
 
You should have went to ARAGOLD.COM There great and they only take 2% for gold! My check should be coming in any day. Congrats though.
 
Thanks for the comments everyone.

This is a great lesson for some. Like some stated, gold price per ounce is based on 24kt or pure .99999 gold. The majority of gold I sold was only 10K.

Below is the gold Kt and what percent of gold.
9 kt =24 37.50%
10 kt= 41.67%
12 kt =50%
14 kt =58.33%
18 kt =75%
22 kt = 91.67%
24 kt =24 99.99%

For example if you sold 1 troy oz of 10kt gold at todays price it would equal :

Today price $1,386.60 for 24k. But for 10k=$577.28

The below website is a great tool and you can enter different weights and kts of gold with instant results on daily market values.

http://www.silverrecyclers.com/Calculators/gold_calculator.aspx

I hope this gives a better idea of how it works when somebody else cashes in a little booty.
 
Maybe Buy A New Minelab Etrac.

Maybe some day a Minelab Etrac, but for now I'll sit on the money and give my Minelab Excalibur a winter workout at the beaches.

I would say that half of the booty I sold was finds from my Garret Ace 250 though. I started out with the Garret to get my feet wet, then upgraded to the X-Cal after I had some finds under my belt and realized I was a true Geiger Counter Nut LOL!!!!!!!!!!!
 
BH pioneer 505

You got a great price for that silver and gold. Congratulations you did great. People always think that you are suppose to get retail for things that are second hand. Dont let no one tell you that you did'nt get a great deal. You did excellent. I know the paw shops around here are selling things cheap.
 
Ok.. makes more sense... It looked like the 2 oz was after refining... then it would have been a big loss.... but before refining makes sense. And one other thing... it was all found money anyway. (-: RickO
 
My friend works for a refiner and they get lots of different types of precious metals in. This includes prospectors who bring in bags of sand. Anyway, they pay much, much better than the sleazy guys you see on local TV who have bad "jewelry" stores in the not-so-great part of town. They're just crooks.
 
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