Selling gold

[Bugler 33]

For those of you who sell some of your gold,

Do you sell your gold through a refinery or so you sell it to an individual?

If you use a refinery, who do you do most of your business with?

Bugler

[garimpo 2,296]

Individual!!!!

[Mtnman 0]

I sell my fines to a refinery. I use David H. Fell Co. out of LA and their express refining. http://www.dhfco.com/index.htm

[Bugler 33]

Mtnman and Garimpo,

Thank you for your replies. I have looked into David H. Fell Co.. I am a bit confused with their payout. How have you felt about your return?

I have been encouraged to go with the individual sale and will look into that some more. Some of these nuggets don't have a lot of character but they are 92fine and beautiful butter colored. You guys have me thinking anyway.

Bugler

[goldenone 0]

Mtnman and Garimpo,

Thank you for your replies. I have looked into David H. Fell Co.. I am a bit confused with their payout. How have you felt about your return?

I have been encouraged to go with the individual sale and will look into that some more. Some of these nuggets don't have a lot of character but they are 92fine and beautiful butter colored. You guys have me thinking anyway.

Bugler

Bugler;

If you don`t have an individual who is willing to pay spot price or better,then ebay or

goldbay.com are the best places to get spot price or better.

Whether you are selling nuggets or fines you will get the most money on one of these two sites.

I have actually seen small 1 to 1 1/2 gram nuggets go for as much as $60 a gram.

I sold a 5.2 gram nugget on ebay for $184 when spot was in the low $400`s.

Usually it is because the buyer just doesn`t know anything at all about gold nuggets,

but sometimes it is because of the beauty of the piece.

Hope this gives you some more thoughts on where you can sell your gold.

Merle.

[Mtnman 0]

Bugler, on Fell's express refining option, they have a $35 refining fee for placer quantities of less than 200dwt and then you get paid 95.25% of spot for the gold content of the material you have sent them two days after they recieve your gold. I'll use one ounce of the gold I find and yesterday's London close ($968) as an example, assuming they recieved it two days prior and we're getting paid then. 1ozt X Purity (22.5K or .9375)=$907.50 per ounce. 907.50X.9525 (95.25%)=$864.39 per ounce minus the $35 refining fee comes out to $829.39 per ounce. After everything is said and done, you end up with 85.68% of spot. The gold you send them doesn't have to be perfectly clean, either, it only has to contain 25% gold by weight to get that price. Personally, I send them only clean gold that I have seperated by where I found it so that I can keep a running total on purity is certain areas. To help offset the refining fee, I only send in multiple ounces at once. Say you send them 10 ounces (200dwt), your refining fee for each ounce is now $3.50 per ounce, so that helps your bottom line. For me, the refinery is the way to go since I don't collect gold, I look at it as found money, so whatever I get for it is more than I had before. But, I agree with Don and Merle on the point that you will get a better price from an individual if you find someone wanting to buy, especially nuggets. I would never use the refinery option for nuggets unless I was desperate for some quick cash. If you do go that route, remember that nuggets usually have a lower Karat weight than fines do, since (from what I hear) the longer the gold has been in a stream, the more impurities have leached out. I've heard recently that a broker in Alaska (Anchorage?) is paying 1.25% of spot for nuggets right now, but I don't have his contact info. If you'd like it, let me know and I'll get it for you. Good luck.

Randy

[Bugler 33]

Mtnman,

Thanks for the very good explanation. I had sat down and figured out just about what you had said. Most of these nuggets are 92fine, but not with a lot of character; at least the ones from my claim. Many of the others are from AZ and certainly have more character, but not as pure. I would be interested in more information about your contact in Alaska. I will also look into Goldbay and EBay. I appreciate your help.

Bugler

Goldenone,

I will check out Goldbay and I thank you for your information.

Bugler

[El Dorado 964]

Bugler,

Email me some pictures of nuggets, and I may make an offer. How do you know your gold is .920 fine? Also, it's an old wives tale that fines are more pure than nuggets!

sjwandt at sbcglobal.net