Gold Is Money -- Gold is Money -  The Premier Gold and Silver Forum -- Goldismoney Gold Is Money -- Gold is Money -  The Premier Gold and Silver Forum -- Goldismoney
Welcome Guest, is this your first visit?
Register today to gain access to all of our features which include creating topics, replying back to posts, private messaging and much more!

What are you waiting for?
Already Joined?
Sign into your account now
Results 1 to 15 of 15

Thread: Why do buyers offer low price for gold?

  1. Post #1

    #1
    Found a way in
    Join Date
    Apr 2012
    Posts
    7
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Why do buyers offer low price for gold?

    So I got some gold melted into some solid blocks. I called a few places here in Canada and they are offering much lower prices for what it is worth I have over 200 grams of 22K gold which in todays market is worth $47-$48 a gram, more or less. The buyers are offering $36CDN!!!!!!! Can someone explain this? Thanks in advance.

  2. Post #2

    #2
    Gold Member glockngold's Avatar
    Join Date
    Mar 2010
    Posts
    1,742
    Thanks
    1,708
    Thanked 1,243 Times in 645 Posts

    Default Re: Why do buyers offer low price for gold?

    dude, is your real name Haberny,?

    Dear Mr. Haberny,

    After sending back your zip lock bag of gold painted rocks that you considered "14 karat gold nuggets found on a soul searching pilgrimage in Tibet with a quadriplegic hooker you picked up in Singapore", we find it is truly unfortunate that you can not understand the concept of "Do Not Contact Us Again".

    Your fraudulent attempt to extort money from our seasoned geologists (who are experts in identifying precious metals) has forced us to take extreme action; this is your final warning before we contact the authorities. Your "rocks" have shown up in our inventory three times now. We will no longer attempt to return them, but will keep them as evidence. You are not entitled to any money, especially the ludicrous amount of $1,423,061.92 you demanded for your Cash 4 Gold payment. Your petition for an "ungreased, backdoor; Hammertime lovemaking session" with our telemarketer's Carol and Tracy is feral and preposterous. Your absurd request to be reimbursed for postage ($167.45, $138.33 & $142.73) is unwarranted and completely illicit. As a reminder Mr. Haberny, Ed McMahon passed away June 23, 2009. It is not only disrespectful but also utterly moronic to request that he host your birthday party at McDonalds.

    This is the last time that we will be in contact with you.

    Sincerely,
    (Insert Chicken Scratch Here)

    Jeff Aronson

  3. Post #3

    #3
    Gold Member+ Eyebone's Avatar
    Join Date
    Mar 2010
    Posts
    2,880
    Thanks
    4,343
    Thanked 1,103 Times in 693 Posts

    Default Re: Why do buyers offer low price for gold?

    70% is common for "junk".

  4. Post #4

    #4
    Banned
    Join Date
    Mar 2010
    Posts
    3,267
    Thanks
    2,517
    Thanked 2,670 Times in 1,401 Posts

    Default Re: Why do buyers offer low price for gold?

    Quote Originally Posted by glockngold View Post
    dude, is your real name Haberny,?
    ROTFLMAO

    Seriously, though. locate a refinery in Canada and contact them. You're not going to get spot, but you'll do better going direct than through a middle-man who's going to have to send it to them for the same below spot return anyway AND make a profit off of you. The downside is, you'll have to wait a while to get your money and, if it's anything like here in the US, you'll have a paper trail that may have tax implications.

    Spot is an indicator, not a guarantee of value. Your gold is "worth" what someone will pay for it. Right now that appears to be CAD36 per gram, or about 25% below spot. Not sure if anyone other than a refinery would offer any better on an amorphous lump of melted gold. Keep us posted, noob.

  5. Post #5

    #5
    Gold Member+
    Join Date
    Apr 2010
    Posts
    2,444
    Thanks
    41
    Thanked 816 Times in 536 Posts

    Default Re: Why do buyers offer low price for gold?

    melting junk silver into blobs of faceless .900 metal or gold jewelry into faceless blobs of 14k metal is folly.

    A jewelry store is going to want their cut. They're not going to take your blobs of metal without consideration of a profit. You'd probably get paid 80% of melt max.

    If you have enough blobs, you could send them to a refiner yourself and get maybe 95% of melt.

  6. Post #6

    #6
    Found a way in
    Join Date
    Apr 2012
    Posts
    7
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: Why do buyers offer low price for gold?

    Thanks for all the help fellas!!!!!! One other question, how do I clean my gold bars? Some people say to just dump it in a beaker with nitric acid. It that the correct method?

  7. Post #7

    #7
    Gold Member+ earplugs's Avatar
    Join Date
    Apr 2010
    Posts
    2,798
    Thanks
    2,371
    Thanked 1,118 Times in 678 Posts

    Default Re: Why do buyers offer low price for gold?

    cuz gold is honest money and a store of wealth....

  8. Post #8

    #8
    Gold Member glockngold's Avatar
    Join Date
    Mar 2010
    Posts
    1,742
    Thanks
    1,708
    Thanked 1,243 Times in 645 Posts

    Default Re: Why do buyers offer low price for gold?

    Quote Originally Posted by joegold View Post
    Thanks for all the help fellas!!!!!! One other question, how do I clean my gold bars? Some people say to just dump it in a beaker with nitric acid. It that the correct method?
    Actually Joe, the best way to clean gold bars is with an air orbital sander with an 80 grit pad. (PS.. does your Mom know you are using the computer?)

  9. Post #9

    #9
    Gold Member+ keef's Avatar
    Join Date
    Nov 2011
    Location
    here
    Posts
    3,501
    Thanks
    531
    Thanked 1,898 Times in 1,115 Posts

    Default Re: Why do buyers offer low price for gold?

    Cheap bastards! I will give ya $36/US dollas and some lint I found in my shop vac.

  10. Post #10

    #10
    Found a way in
    Join Date
    Apr 2012
    Posts
    7
    Thanks
    0
    Thanked 0 Times in 0 Posts

    Default Re: Why do buyers offer low price for gold?

    Quote Originally Posted by glockngold View Post
    Actually Joe, the best way to clean gold bars is with an air orbital sander with an 80 grit pad. (PS.. does your Mom know you are using the computer?)
    You should be a comedian!!!!!!! Why do people reply with a stupid answer to a simple question??????

  11. Post #11

    #11
    Banned
    Join Date
    Mar 2010
    Posts
    12,275
    Thanks
    6,125
    Thanked 6,644 Times in 4,227 Posts

    Default Re: Why do buyers offer low price for gold?

    Quote Originally Posted by joegold View Post
    You should be a comedian!!!!!!! Why do people reply with a stupid answer to a simple question??????
    They may have thought the simple question was...?

  12. Post #12

    #12
    Banned
    Join Date
    Mar 2010
    Posts
    12,275
    Thanks
    6,125
    Thanked 6,644 Times in 4,227 Posts

    Default Re: Why do buyers offer low price for gold?

    Quote Originally Posted by joegold View Post
    Thanks for all the help fellas!!!!!! One other question, how do I clean my gold bars? Some people say to just dump it in a beaker with nitric acid. It that the correct method?
    What do you want to remove, slag remnants, heavy oxidation, something else?

  13. Post #13

    #13
    Silver Member Someone_else's Avatar
    Join Date
    Mar 2010
    Posts
    627
    Thanks
    466
    Thanked 453 Times in 228 Posts

    Default Re: Why do buyers offer low price for gold?

    This is interesting. How to refine gold yourself:
    http://www.ishor.com/AquaRegia.php

    I don't think I will be trying this myself, though.

  14. Post #14

    #14
    Banned
    Join Date
    Mar 2010
    Posts
    12,275
    Thanks
    6,125
    Thanked 6,644 Times in 4,227 Posts

    Default Re: Why do buyers offer low price for gold?

    Quote Originally Posted by Someone_else View Post
    This is interesting. How to refine gold yourself:
    http://www.ishor.com/AquaRegia.php

    I don't think I will be trying this myself, though.
    A rookie will end up with a big mess at best. Leave it to the pros or be prepared and willing to invest it the PROPER equipment. It is VERY easy to get injured.

  15. Post #15

    #15
    Found a gold nugget Metal Miner fasTTcar's Avatar
    Join Date
    Mar 2010
    Location
    Slightly off center
    Posts
    456
    Thanks
    216
    Thanked 405 Times in 179 Posts

    Default Re: Why do buyers offer low price for gold?

    I am in the process of introducing melt and assay services in the next couple weeks at my office in London, Ontario. Drop by and i can melt, assay and payout within 15 minutes. If you are not in SW Ontario, FedEx works great.

    I can get you into the 90 percentile+ easily, same day payout in Canadian dollars with no BS.

    Give me a call 519-686-6671 during business hours or email - daniel@coincanada.ca

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Quotes are powered by Investing.com