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  #21  
Old 08-13-2019, 09:05 PM
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Originally Posted by amc rulz View post
How about the people here?
He doesn't trust them ! Lol....
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  #22  
Old 08-17-2019, 10:55 AM
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Originally Posted by amc rulz View post
How about the people here?


Yeah I have often wondered why there isnít much gold being sold here? Maybe because everyone waiting on $2000/ounce


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  #23  
Old 08-17-2019, 11:09 AM
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From what I've heard refiners pay even less 70-80% for Palladium. I don't know about Platinum.

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  #24  
Old 08-17-2019, 11:11 AM
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Originally Posted by KOB View post
He doesn't trust them ! Lol....
It's because we're all Pirates and Pirates can't be trusted.

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  #25  
Old 08-17-2019, 11:56 AM
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Originally Posted by Golden Oaks View post
From what I've heard refiners pay even less 70-80% for Palladium. I don't know about Platinum.
Think you have them opposite. Platinum has a really high melting point which makes it harder to refine.
PD I get 95% or so. PT about 90% of spot price. PT999% pays about 95%

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  #26  
Old 08-17-2019, 05:09 PM
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Steve is pretty close....thou even refineries very. Just know up front those percentages and how they figure it...and some can be negotiated with. I had one jeweler who wouldnít give me a set percentage he kept saying we pay penny weight based on the days spot melt. What was he telling me? ARA still seems to be paying higher melt percentages. Iíll let ya know how well their pencil is sharpened since I just sent a little in.

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  #27  
Old 08-18-2019, 06:54 AM
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Originally Posted by dewcon View post
Steve is pretty close....thou even refineries very. Just know up front those percentages and how they figure it...and some can be negotiated with. I had one jeweler who wouldnít give me a set percentage he kept saying we pay penny weight based on the days spot melt. What was he telling me? ARA still seems to be paying higher melt percentages. Iíll let ya know how well their pencil is sharpened since I just sent a little in.


Dew, do let us know about ARA. I am considering this myself and even heard about a refinery near ATLANTA but not sure if they deal with the public or how their prices work....


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  #28  
Old 08-19-2019, 05:35 PM
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Will do. AND....... of course i send it in and golds near $1530.....mine gets there and its under $1500..... ugh. Some times i get to feeling like that 3 legged dog called lucky.

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  #29  
Old 08-19-2019, 05:57 PM
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Originally Posted by ugadigger View post
Yeah I have often wondered why there isnít much gold being sold here? Maybe because everyone waiting on $2000/ounce


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Probably, because all of us know how to sell to ARA or Midwest. No point in offering someone 80% of Spot, if they can just ship it to ARA themselves, and pick up the difference.

Never even bothered to try to sell here. If I'm looking for something better than spot value, a metal detecting forum likely isn't it.

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  #30  
Old 08-19-2019, 06:06 PM
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Originally Posted by ugadigger View post
Dew, do let us know about ARA. I am considering this myself and even heard about a refinery near ATLANTA but not sure if they deal with the public or how their prices work....


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I just put in a 27 gram mixed bag of gold. At yesterday's spot value, this is what it came out to:
Karat Grams value
10k 0.8 16.2128
10K 1.15 23.3059
10k 1.2 24.3192
10k 3.69 74.78154


Karat Grams value
14K 5 141.86
14k 1.9 53.9068
14k 3.44 97.59968
14K 1.25 35.465
14k 2.8 79.4416

Karat Grams value
22k 4.3 191.7155

Total Value in Karat stamp: $738.61.
I only expect a check of $683.80 or better from the ARA melt.

Why this is a fair assessment:
What I actually expect actual karat value: $712 (Unless marked "Plumb" since all karat stamps are typically less than what they show, up to 1/2 carat (e.g. 14K is actually 13.5K).

Loss during melt (my experience is 2%)= $697.76

Multiplied by their 98% of spot value = $683.80.

I'll report back here at the end of the week with what the check came out to.

Skippy

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  #31  
Old 08-19-2019, 07:29 PM
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Now there is a good breakdown. Is that figure TROY ounces? Now you see where what u thought you were getting and what you got can very.....not to mention bad math on their behalf. But at least you have an expectation and are ok if you get said amount

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  #32  
Old 08-20-2019, 07:28 PM
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Let me add other mistakes people can make. When you weight and get a total weight REMEMBER if itís 14k only 1/2 of that weight is gold. They may also figure your weight in Troy ounces....you loose some grams....when they do a pay out itís done in dwt..penny weight. Then comes purity.....it maybe 14k 50% ... but after melt your purity maybe 42%.

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  #33  
Old 08-20-2019, 08:49 PM
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Originally Posted by dewcon View post
Let me add other mistakes people can make. When you weight and get a total weight REMEMBER if itís 14k only 1/2 of that weight is gold. They may also figure your weight in Troy ounces....you loose some grams....when they do a pay out itís done in dwt..penny weight. Then comes purity.....it maybe 14k 50% ... but after melt your purity maybe 42%.


So really thereís nothing a seller can do once itís in the hand of the refinery as far as guaranteeing theyíre getting an accurate payout. I mean how would a seller really know unless they are an expert in purity analysis and watched the process from start to finish? Not implying anyone in the gold buying business is crooked because that never happens?! I think once you drop it in the mail you have to prepare yourself to expect less than you think...


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  #34  
Old 08-20-2019, 10:10 PM
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Originally Posted by ugadigger View post
So really thereís nothing a seller can do once itís in the hand of the refinery as far as guaranteeing theyíre getting an accurate payout. I mean how would a seller really know unless they are an expert in purity analysis and watched the process from start to finish? Not implying anyone in the gold buying business is crooked because that never happens?! I think once you drop it in the mail you have to prepare yourself to expect less than you think...


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  #35  
Old 08-21-2019, 07:06 AM
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Digger ...... thats exactly what im saying. NOW......is 95% pay out better than finding a local guy who pays you 85%? By time you ship it, insure it, and they figure dwt....troy ounce.....purity..... or the mystery of the melt..... take the 85%.

By the way ARA does NOT pay 98%. They pay 95%... unless you are a business now.

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  #36  
Old 08-26-2019, 05:09 PM
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Originally Posted by dewcon View post
Digger ...... thats exactly what im saying. NOW......is 95% pay out better than finding a local guy who pays you 85%? By time you ship it, insure it, and they figure dwt....troy ounce.....purity..... or the mystery of the melt..... take the 85%.



By the way ARA does NOT pay 98%. They pay 95%... unless you are a business now.


Any update?


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  #37  
Old 08-26-2019, 07:17 PM
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Digger.... I got my check in just a few days. Iím not disappointed in the check once I figured out I forgot...not all tha weight was gold ....duh. It was pretty close to what I figured. That purity of course can be figured close if you know the weight of each K you are submitting. Iíd still recommend if you find someone local that pays in the85% range you are just as well off. But... Iíd send more to ARA I donít feel they messed me over

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  #38  
Old 08-26-2019, 07:18 PM
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Originally Posted by dewcon View post
Digger.... I got my check in just a few days. Iím not disappointed in the check once I figured out I forgot...not all tha weight was gold ....duh. It was pretty close to what I figured. That purity of course can be figured close if you know the weight of each K you are submitting. Iíd still recommend if you find someone local that pays in the85% range you are just as well off. But... Iíd send more to ARA I donít feel they messed me over


Great to hear!


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  #39  
Old 08-26-2019, 08:55 PM
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Originally Posted by dewcon View post
Digger.... I got my check in just a few days. Iím not disappointed in the check once I figured out I forgot...not all tha weight was gold ....duh. It was pretty close to what I figured. That purity of course can be figured close if you know the weight of each K you are submitting. Iíd still recommend if you find someone local that pays in the85% range you are just as well off. But... Iíd send more to ARA I donít feel they messed me over
Good to hear!

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  #40  
Old 08-27-2019, 03:07 PM
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Gold seems to want to go up...$1541. Of course after I got less...

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