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A state regulated precious metals purchasing agency?


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A state regulated precious metals purchasing agency, tell me your thoughts. 

A state regulated precious metals purchasing agency would make the sales aspect of the prospecting much safer and easier. 

 

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You want more government in Your hobby?  I can't understand just why when they muck up every other aspect of regulating our so called wellbeing.  :poostorm:

   Old Tom

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59 minutes ago, Old Tom said:

You want more government in Your hobby?  I can't understand just why when they muck up every other aspect of regulating our so called wellbeing.  :poostorm:

   Old Tom

Come on Tom I think their doing a mighty fine job at the border-catch and release of criminals like sex-drug and child trafficers-blm antifa in the big blue cities-race theroy in our schools-defunding our men in blue-no bail release program and coming up is the delta variant scare tacticsboorb-give them a chance and Im sure in time will be our hobbies because of the lock downs :grr01: :200:

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Old Tom,  it's not that I want the government involved in private business. But in this industry it is needed because of how corrupt the industry has become. 

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51 minutes ago, Mike C... said:

Come on Tom I think their doing a mighty fine job at the border-catch and release of criminals like sex-drug and child trafficers-blm antifa in the big blue cities-race theroy in our schools-defunding our men in blue-no bail release program and coming up is the delta variant scare tacticsboorb-give them a chance and Im sure in time will be our hobbies because of the lock downs :grr01: :200:

Well I could  go on and on right with you on that Mike,  seriously though the scamdemic of 2020 showed just how useless  modern us government has become.  Just take a second if you haven't done so already and look at the total population...  Close to 400 million,  yet the flu strain sarscovid/corona19 only infected  a few hundred thousand...  Not even a full thousands of a percent. 

That's the equivalent of looking at 99.997 pure and saying but what about that. 003.

That being stated the intent is to end the corruption in this industry and establish an agency that would buy the peoples precious metals. And by establishing this agency there would be a sense of trust re-instilled in our government. (not that we lack trust in our completely debunked and useless federal government or anything  '-)

In short for thousands prospecting and precious metals are a career not a hobby.  And they as well as the hobbiest would benefit from this agency being formed.  Just think of what you could do or where you could go if it was as easy as a coin star.  Think about it.  Other countries already have taken steps in that direction and it's about time we Americans caught up. 

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13 hours ago, Indigo Suelo said:

A state regulated precious metals purchasing agency, tell me your thoughts. 

A state regulated precious metals purchasing agency would make the sales aspect of the prospecting much safer and easier. 

 

Isn't  that called  a pawn shop? Bureaucrats  will NOT decrease their margin.  It will take from it.

 

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13 hours ago, Indigo Suelo said:

Well I could  go on and on right with you on that Mike,  seriously though the scamdemic of 2020 showed just how useless  modern us government has become.  Just take a second if you haven't done so already and look at the total population...  Close to 400 million,  yet the flu strain sarscovid/corona19 only infected  a few hundred thousand...  Not even a full thousands of a percent. 

That's the equivalent of looking at 99.997 pure and saying but what about that

In short for thousands prospecting and precious metals are a career not a hobby.  

Where are these thousands of people who have prospecting and precious metals as a career..not a hobby?

 

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Anyone who mines precious metals is selling ore to a smelter or reduction process. They don't sell "metals". They sell rock.

You don't have much experience at this gig do you?

Small gold prospectors and hobbyists would be the only group of people that would sell raw gold. Everything else would be considered recycling. There are plenty of places you can sell your gold for a fair price based on a percentage of spot value. If you have collectable specimens you can get more than spot price.

It is not difficult to get a fair price for placer gold. There are very few buyers that know how to estimate the value though. You just need to locate a knowledgeable buyer. That is not too hard to do if you speak to a few guys that sell gold regularly. But you need to speak to them as someone seeking knowledge. Not as someone posing as a miner.

The "government" buying placer gold is in my opinion a ridiculous idea. There is nothing wrong with the current market. There are no other metals that a prospectors could sell. Gold is the only metal that does not require smelting, reduction and refining from the mined rock. 

The industry needs processors that can handle small batches. Very few small miners can produce the volume of rock it takes to get a smelting contract. The problem is not being able to sell "precious metals". You can do that many places. The problem is turning a small volume of rich ore into a profit.

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The Coinstar idea is cool though. I think every Wal Mart should have a machine you can put your ore in and money comes out a slot.

Lots of other countries are doing this. I don't know why the U.S. is always so far behind the curve.

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9 hours ago, Stillweaver hillbelli said:

Isn't  that called  a pawn shop? Bureaucrats  will NOT decrease their margin.  It will take from it.

 

One of the main reasons for the agency is because of pawn shops and other buyers.  The fact is when you walk into a pawn broker at best you can expect fifty percent of the value, and that's not fair trade.  The establishing of this agency would give the seller a location that will buy for the fair market value. The margins that the current brokers will feel tighten are due to their own underhanded dealings. It's called cause and effect. 

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7 hours ago, Morlock said:

Where are these thousands of people who have prospecting and precious metals as a career..not a hobby?

 

The figure is about 28,000 people  and it is a rough estimate. They tend to live off grid and in rural locations.  Certain states like Alaska, Washington, or even Colorado tend to be home to most of them. Hey it could be you too if you wanted. 

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4 hours ago, Bedrock Bob said:

Anyone who mines precious metals is selling ore to a smelter or reduction process. They don't sell "metals". They sell rock.

You don't have much experience at this gig do you?

Small gold prospectors and hobbyists would be the only group of people that would sell raw gold. Everything else would be considered recycling. There are plenty of places you can sell your gold for a fair price based on a percentage of spot value. If you have collectable specimens you can get more than spot price.

It is not difficult to get a fair price for placer gold. There are very few buyers that know how to estimate the value though. You just need to locate a knowledgeable buyer. That is not too hard to do if you speak to a few guys that sell gold regularly. But you need to speak to them as someone seeking knowledge. Not as someone posing as a miner.

The "government" buying placer gold is in my opinion a ridiculous idea. There is nothing wrong with the current market. There are no other metals that a prospectors could sell. Gold is the only metal that does not require smelting, reduction and refining from the mined rock. 

The industry needs processors that can handle small batches. Very few small miners can produce the volume of rock it takes to get a smelting contract. The problem is not being able to sell "precious metals". You can do that many places. The problem is turning a small volume of rich ore into a profit.

Well just to start there are far more valuable metals than gold.  Secondly you make it sound so easy so I am going to assume you have little to no experience in platinum group metals, if you did you wouldn't thinking the way you do. 

Also I am very aware of the process of refining precious metals, that's gold and pt group. (it's what I do...  )

So since you are against the formation of the agency how about this,  go out and find some precious metals and post on how easy it was for you to sell. 

After that experience you'll think a bit different.  Have fun. 

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I think Idigo is trolling for responses.  I don’t think he could possibly think that another government agency would be a good idea, but you come to a forum like this and post that, its like poking a bear for fun.

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23 hours ago, Indigo Suelo said:

Just take a second if you haven't done so already and look at the total population...  Close to 400 million,  yet the flu strain sarscovid/corona19 only infected  a few hundred thousand...  Not even a full thousands of a percent. 

Where do you get those numbers? That is WILDLY different from the accepted data.

Can you shed any light on why your statement contrasts with established numbers?

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Posted (edited)
3 hours ago, Indigo Suelo said:

  The fact is when you walk into a pawn broker at best you can expect fifty percent...

If that were  the case, then I would take my business elsewhere. 

But that has not been my experience.  I would say 80% is their starting point.

I fail to see how putting a bureaucracy  in the way of a buyer and seller will make things  more efficient.

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Most gold buyers will give you a percentage based on spot price that day. Percentages vary but it is usually over 90%.

Pawn brokers won't EVER be a reliable place to sell placer gold. Most have no idea how to estimate its worth and will lowball it to be safe. Some may be able to assay and give you a fair shake on gold content but this is the exception and definitely not the rule. The same goes for most buyers of scrap and recycled gold.

Again there are good outfits that will buy gold based on its assayed value. They specialize in buying small lots of gold ore and pay fair market value.

There is no one on earth that will pay full metal value for ore. And ore is what a prospectors finds. Gold is the only exception to that rule and comes with the obvious caveats.

 Any other "precious metals" must be refined. The only buyers for ore besides free milling gold are smelters/refiners.

This guy has no idea how "precious metals" are mined or sold. And he has never turned ore of any kind into a paycheck. This is painfully obvious from his clueless rap.

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6 hours ago, Bedrock Bob said:

The Coinstar idea is cool though. I think every Wal Mart should have a machine you can put your ore in and money comes out a slot.

Lots of other countries are doing this. I don't know why the U.S. is always so far behind the curve.

With the right modifications and parts from a DeLorean, Mr Fusion can be converted to Mr. Smelter.

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1 hour ago, Bedrock Bob said:

Where do you get those numbers? That is WILDLY different from the accepted data.

Can you shed any light on why your statement contrasts with established numbers?

Oh did I offend the fool with a needle in his arm...  Trying to figure out if that's a real false positive or...  Well you get it....  But I'm not with the popular opinion... I don't care for it...  2+2=4 even if a billion people disagree.  Just go check the Cdc website yourself  and do some math.  Honestly...  Just look how pathetic all of you Lil scared cowards look...  "it's the air out side, I can't  go out. " (expletive ) out of here.  Or one better cover your faces....  To make it easier to riot in the streets...  (blinded by the sight) 

Pathetic and shameful...  'merica.... Home of the halfwits and cowards. 

It's a darn shame.  But I didn't sign up to this forum to discuss the foolasery of modern society.  I joined to discuss the wonders of precious metals and all it entails. 

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1 hour ago, Bedrock Bob said:

Most gold buyers will give you a percentage based on spot price that day. Percentages vary but it is usually over 90%.

Pawn brokers won't EVER be a reliable place to sell placer gold. Most have no idea how to estimate its worth and will lowball it to be safe. Some may be able to assay and give you a fair shake on gold content but this is the exception and definitely not the rule. The same goes for most buyers of scrap and recycled gold.

Again there are good outfits that will buy gold based on its assayed value. They specialize in buying small lots of gold ore and pay fair market value.

There is no one on earth that will pay full metal value for ore. And ore is what a prospectors finds. Gold is the only exception to that rule and comes with the obvious caveats.

 Any other "precious metals" must be refined. The only buyers for ore besides free milling gold are smelters/refiners.

This guy has no idea how "precious metals" are mined or sold. And he has never turned ore of any kind into a paycheck. This is painfully obvious from his clueless rap.

darn...  I didn't write a thesis prior to speaking excuse the Holy hell out of me... Bedrocks...  But just because you state something doesn't mean it's not already known.  

And doesn't it make sense that I am starting a precious metals purchasing agency because of the difficulty, you yourself  just stated, plague this industry. 

The point first off is there are far more valuable and and rare metals than plain old gold.  Second the agency that would be established would buy based on the fair market value...ofvthose metals...  (Understand) ---from people like  you.  (sinking in yet) 

Just an inquiry here but did you proof read your comment,  I ask because you state the obvious reasons to establish  this agency  so thanks for that...  Then you went and tried  to discredit me...  Seems like you might have bumped your head there or something

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1 hour ago, Stillweaver hillbelli said:

If that were  the case, then I would take my business elsewhere. 

But that has not been my experience.  I would say 80% is their starting point.

I fail to see how putting a bureaucracy  in the way of a buyer and seller will make things  more efficient.

So how long have you worked as a pawn broker or in the industry? 

 

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6 hours ago, Bedrock Bob said:

The Coinstar idea is cool though. I think every Wal Mart should have a machine you can put your ore in and money comes out a slot.

Lots of other countries are doing this. I don't know why the U.S. is always so far behind the curve.

that's why a agency like the PMPA (precious metals purchasing agency)  is needed. 

Think of it.  

The concept would have a ready to use card dispensed or fill your current card.  

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Posted (edited)
8 minutes ago, Indigo Suelo said:

Oh did I offend the fool with a needle in his arm...  ... Honestly...  Just look how pathetic all of you 

Pathetic and shameful...  'merica.... Home of the halfwits and cowards. 

 

Take that"broadbrush" back. Applied to most of our leaders, yes,,, As well as most news outlets.

     Not all of us got Fauchi's experimental  biologic agent,,, for his    corona chimera.

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10 minutes ago, Stillweaver hillbelli said:

Take that"broadbrush" back. Applied to most of our leaders, yes,,, As well as most news outlets.

     Not all of us got Fauchi's experimental  biologic agent,,, for his    corona chimera.

I really  don't want to discuss....  

.....SCAMDEMIC 2020 ... It made no sense.  There was no logic or reason that applied to the response that took place.  

If you disagree...  Then you are one of the many far to easily Fooled.

 

 

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1 hour ago, Indigo Suelo said:

So how long have you worked as a pawn broker or in the industry? 

 

You don't  need to work in the industry to figure their margin based on the spot price that day. All you need are nuggets, bullion, or coin to offer up for sale. 

Then do the math.

 

 

 

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20 minutes ago, Stillweaver hillbelli said:

You don't  need to work in the industry to figure their margin based on the spot price that day. All you need are nuggets, bullion, or coin to offer up for sale. 

Then do the math.

 

 

 

Yup.

And they are selling it up the line to a refiner. Who also pays them a percentage of spot price.

If you have enough "precious metal" the refiner will buy it from you directly. 

But if you have 150 tons of rich tantalum/columbium ore you are going to have to wait until your buddy here opens up his precious metals refinery in a pop up tent in Costco parking lot.

 

 

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