Where do you get your scrap gold ?

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Noxx

Well-known member
Joined
Feb 24, 2007
Messages
3,365
Location
Quebec, Canada
Where do you guys takes their gold ?
I currently have 70g. but I want to invest more.
I know some people are taking scrap electronics for free but me I buy scrap jewelry on ebay. I got very nice deals few years ago but not it seem gold lot sells at the gold spot... and I can't get any more «cheap» gold.
If you have some tips where to get cheap gold... please share your experience lol.
Thanks
 
Try local schools, offices, and government offices for surplus equipment auctions. Online you can try your luck at govliquidation.com. Local garage sales can turn up cheap jewelry and electronics equipment. I get the largest quantities by doing side deals with ebay sellers that I contact after a purchase. Always inquire with a seller after you complete a transaction to see if they have more to sell. The more you buy at once the cheaper you get it.
 
Noxx said:
I know some people are taking scrap electronics for free
Thanks
I've pulled a lot of electronic junk out of the dumpster. Now they are requiring all this stuff to pass through our environmental services at work, so all the computers, etc. are no longer in there. But, I collected several hundred pounds of card edge fingers and wire-wrap backplanes from electronic scrap over the years. My wife finally moved it all into the BEDROOM to remind me to **DO** something with all that junk. So, at least for a while, I need to reduce the scrap and extract the gold, rather than collect more.

You need to know what has the most gold in it to be effective. Old, non-IBM "mainframe" computers and large office PBXs (office phone systems) had a LOT of gold in them. 1980's HP computers also had boards COVERED in gold (not just connector fingers, the whole board was plated in gold). IBM mainframe gear also had gold, but they were the first to make big efforts to reduce the amount of gold.
 
Ok I will try... But like I said, there a lot less yardsales and thing like that here in Canada. Only twice a year, in the summer.
I ask someone who recycle computer to keep only cpus for me many months ago. I don't know if he forgot me... I will call him.
Thanks
 
Years ago, old eyeglass frames were an excellent source of gold. Even the ones covered with plastic. They heed not be the wire frame type. On the average, they would yield a grain of gold, and I paid 25¢ per pair for them. I also refined for a few opticians along the way, on a percentage basis. It's clear that I was buying gold for less than 25% of value. It would be a real bargain today.

If you're not familiar with gold eyeglass frames, they were marked on the bridge---typically 1/10 12KGF. That means that 5% of the weight of the frame was gold, but remember that if they're well worn, it's the gold that goes away, not the base metal. On very rare occasion, you can even encounter karat gold frames, but they were exceedingly rare.

There are other markings, generally newer frames, and of much lower content. If the frame doesn't indicate it has gold. pretty good chance it does not. Newer frames are devoid of it as far as I know. It's been years since I last bought any---having sold my refining business in '94.

If you get involved with eyeglasses (it's a nitric process), it would do you good to talk with me about processing them. They're a bit of a pain to run, but I managed to acquire a huge amount of gold by running them through the years, and consider them the foundation of the bulk of gold I had acquired before I started refining for jewelers.

Harold
 
many places, ebay is probably the worst place to get scraps, most of the stuff ive noticed goes for higher or equal to the gold youll be getting out of it, so your wasting you time, money on chemicals and what have you for 10 or 20$ profit. Dont get me wrong once in a blue moon theres a good deal.

I lucked out and my step father has a scrap dealers liscence and gets alot of scrap, most is useless to me but enough is electronics and some other real strange gold bearing items i get totally free.

Some city dumps (landfills) still get electroninc scrap even though people are not supposed to ditch it in the regualr garbage. One near me gets a lot, and keeps it seperate, again another freebee, i have a dumping liscense there and they let me take what i want.

Another great source, look in your phone books for local computer REPAIR shops, surprisingly alot of these guys dont do anything productive with there scrap, you can often get it free or dirt cheap. SOme places near me i get it free, some i buy it cheap in bulk.

You will rarely get it real cheap off the net, most places that sell it auction it and you always have the clowns who bids things up to non profitable amounts. At least i havnt found a consistant cheap source off the net, if anyone knows of a place hook me up.
 
Ok like I did a time ago, I will call computer repair shops and told them to keep their scrap.
Thanks for the tips.
 
this may seem a bit unscrupulus, but i buy from crackheads. I'm serious. I called every pawn shop around and found out what they are paying for gold (hey, i'm a business man). On the average they pay $3.50 per gram for 14k. So I just put up flyers in neighborhoods where i knew there were a lot of "crackheads" ...... I don't recomend this to everyone. I'm a pretty good sized man who is heavily tattooed and pierced, so i know i can handle whatever comes my way. these people are willing to sell their gold for penny's a gram. I can buy 2 oz of 14-18k for $100.....
 
Piercer,

Do you think the gold is most likely stolen that you get from these crackheads? How else could they afford to sell it so cheaply? I'm not willing to lose my freedom for dealing in stolen property or worse over a few ounces of gold. I think I'll stay out of crack town myself.

Steve
 
Well, LazerSteve is right... This is mostly stolen gold. Or people needs money fast to pay depts and sells their gold.
 
from what i've gotten so far, I know it's not stolen. Mostly broken chains, old rings, ect.
It is no different from these same people going to a pawn shop and getting penny's on the dollar. I just happen to be open all hours. And I personally try not to go into the neighborhoods, and have people to do it.
 
i do completly understand your concerns. I for one wouldn't want any of my gold stolen, and wouldn't want to be the owner of someone's stolen jewelry. On the same token, there was a time in my life when i sold 2oz of 14k to a pawn shop for $150 to make a mortage payment. The owner of that place had no problem taking my family heirloms and give my penny's for it. I tried buying it back when i got back on my feet and he told me he already melted it down. I shopped around, and on an average pawn shops in my area are paying $3.50 per gram. I'm offering $6-7 per gram, so I at least feel better knowing their getting more for their gold from me then a pawn shop.
 
3.5$ per gram ! :shock:
I should look over here how much they offer. I don't know if it is about the same. Canada vs Usa
 
well i do own a recycling company, so right on my business card I have "We Buy Gold, CASH Paid". I also put up flyers on telephone poles and in liquer stores. Have you ever notice you almost never find a pawn shop in middle class neighborhoods? The same for "Cash Advance" places. You find your target demagraphic.
 
Pawn shops definitely don't pay squat for the gold, but it seems to be a good marketing idea to put the flyers near pawn shops. If someone who is desparate for cash see's your sign while they are going in maybe they will call you if you offer more per gram than the pawn shop does.

Good idea. You could even add 'I buy old computers' to the flyer.

Steve
 
Yes good idea. But I buy old computers, I don't wanna have screens and stuff like that. Maybe I could say: Computer case only.
 
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