Updated gold/silver reliable buyers list WANTED

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joseph1990

Well-known member
Joined
May 9, 2017
Messages
47
I've been visiting this forum incognito since 2014 for help on refining and selling. i sold a kilogram of silver last year to pay for books, now I got my hands on family gold and wanted to pay for my last semester in school. The problem is that the forums have dried up on information regarding refiners. Most useful information is before 2015. Elemetal currently lost most of its licenses due to the money laundering situation. ARA gold has had issues in the last year with bounced checks and I can't begin to speak about midwestern refiners. I personally sold my silver to ARA and they paid me within 1 week and had no problems. I just wanted to know if there are other refiners that I can sell to for hedging my bets since I'm selling close to a quarter of a kilogram in gold. I've seen KMG gold, manhattan gold/ silver...and soaccurate. I would consider republic metals but something just seems off about that company.
 
If we can all post payouts from different refiners and turnaround time frequently I can create a weekly or biweekly table on my spreadsheet. No website can do this since they would have a bias so we could single handedly influence refiners quality of service on this thread. This would let us know of patterns emerging in refiners as to isolated incidents or if all hell is breaking loose and they're defrauding for survival
 
I sent you a pm.
But, I figured it would be good to post here too.

I would gladly toll refine it for you.

If you are not wanting to mess with that, and just get straight cash immediately, 85% of spot or so, is what seems to be a going rate around here.
Or, ebay is where any and everyone can sell anything gold (or gold looking) for ridiculous amounts of money.
 
upcyclist said:
This might be a job for the GRF Wiki, Göran?
Yeah, it would be a suitable medium to collect such a list. I have this page.
http://goldrefiningwiki.com/mediawiki/index.php/Metal_dealers_and_refiners
But the only information on it is what I have collected from the forum and via web searches. If there are no new posts about dealers there is no new info on the wiki.

Since it's a wiki it would be easy to make single pages about every dealer with personal experiences and so on. But as we have seen lately, even big firms with good reputation could crash in a short while, so it's always good to search for up to date information. The wiki page isn't really up to date as there have been only one addition over the last two years.

Göran
 
That's certainly a good start. I haven't processed enough to bother finding a buyer yet, and I'd likely do as most around here and ask for a forum buyer first.

Of course, the downside to getting info from the forums (like many other sources) is that 90%+ of posts about a given refiner are complaints. We rarely get "I just sold some refined gold to Acme Inc. and it was great! They assayed the material in front of me and settled within a week!" :wink:

So, if anyone out there has recent info on refiners/buyers, please update the wiki and/or post it here so someone can transfer the info and/or link to it!

--Eric
 
Ok guys I think we have something going here. So upcyclist is the first to go, don't mind the data I can change it asap. We would need to post the data on the boards so at least it's a quick look, no one really wants to download the excel file but it will be posted as a reference. We can improve upon it, DATA IS POWER FOLKS. THE MORE INFORMATION WE HAVE ON HERE THE LESS SNEAKY STUFF GOES ON IN THE BACKGROUND. In the column where it says market value with proof, we urge everyone to make a video of their shipment with the xrf machine and scale before sending out so at least we know that you're not trolling/cheating these refiners. Once a dispute is initiated active contributors on the thread can analyze and come to a conclusion.
 

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silversaddle1 said:
Topher will treat you right on refining your gold.

Thank you, good sir! I appreciate it!

But, it seems I may not need to refine it at all, as he was told it is 24k. This of course, has some alarm bells ringing in my mind.
I have asked if I can copy and paste our messages on here, so the masses can input. I also asked for pictures as well.

I know there is still 24k jewelry being made, my local buyer has an entire wall of 24k necklaces, so it isnt outside the realm of reality. But, I know the majority of the stuff that is 24k, is 24k hge, and if that be the case.... Well then.

A picture of one of the necklaces or bracelets is certainly a fine gold alloy. But, it made me wonder how close to 24k it is. As most know there is a .5k tolerance for gold alloys, as well as another .5k for any soldered articles, which all jewelry is.

I offered to take him to where I sell gold, and have it be shot with an xrf and go from there. I also made the offer of getting him 92%, which I am fairly confident in being a reasonably fair offer... I just dont want to be seen as being sneaky in pm's. :)
 
joseph1990 said:
Yes, I am going to drive from Ohio to Wichita with plated gold. Please tell me if that was a joke

Most of that was typed before I saw the picture of the gold.

I buy gold from the public quite a lot, and you would be surprised how many people believe that plated stuff is of high value, not saying you are one of them, just saying I have encountered it before.
 
I've had people drive from Wichita to Ohio for me to process their gold plated materials. That was not a joke.
 
Oh boy... I bet they were irked.. Probably a bit embarrassed too.

I wasn't trying to be rude with my earlier comment, was just saying
-it happens-

When I have it happen, I either mail back the plated article with a bottle of nitric, so they can test it and see for themselves. Or, if it's a local deal, I whip out my copy of "Testing precious metals" by CM Hoke, and show them the part where the nitric spot test is explained.

That book is available for free download, thanks to frugalrefiner who took the time to scan and upload it. It is an invaluable resource for anyone who is into buying and selling precious metals, and I highly suggest it's download. It isn't a long read, at all, but is very good. I never leave home without it and my test kit.
 
I've never taken the view that everyone is out to defraud me until proven otherwise. Taking that view colours every decision you make in a bad way. The sentiment of this thread concerns me.

Yes some refiners are better than others and yes some refiners declare one thing and deliver another, I accept that but you have so many variables to consider that it degrades the benefits.

You would need to do controlled experiments to justify declaring that one refiner is worse than another and most certainly before declaring that one is dishonest.

Just my thoughts.

Jon
 
anachronism said:
I've never taken the view that everyone is out to defraud me until proven otherwise. Taking that view colours every decision you make in a bad way. The sentiment of this thread concerns me.

Yes some refiners are better than others and yes some refiners declare one thing and deliver another, I accept that but you have so many variables to consider that it degrades the benefits.

You would need to do controlled experiments to justify declaring that one refiner is worse than another and most certainly before declaring that one is dishonest.

Just my thoughts.

Jon
Well anachronism, we are analyzing the payouts, in terms of analyzing the actual quality of the service....I have created a new column which includes "DYCT"....an abbreviation for Did you cancel transaction. This will let us know if the guy selling the item was genuine in their belief that the gold/silver was worth more than they were paid. A user who has several of these dyct's will be unreliable. Whereas if a user has used several other refiners and then all of a sudden has a dyct with one company we would know something may be off. The more data we have the better our understanding of the market
 
Topher_osAUrus said:
Oh boy... I bet they were irked.. Probably a bit embarrassed too.

I wasn't trying to be rude with my earlier comment, was just saying
-it happens-

When I have it happen, I either mail back the plated article with a bottle of nitric, so they can test it and see for themselves. Or, if it's a local deal, I whip out my copy of "Testing precious metals" by CM Hoke, and show them the part where the nitric spot test is explained.

That book is available for free download, thanks to frugalrefiner who took the time to scan and upload it. It is an invaluable resource for anyone who is into buying and selling precious metals, and I highly suggest it's download. It isn't a long read, at all, but is very good. I never leave home without it and my test kit.

no problem friend, just don't trust mail. I'm not a anti government tin foil hat guy but I used to work at a fedex with several coworkers with sticky fingers.
 
By the way, if you are selling your gold in the next 60 days. Best wait.
If you want to buy gold, you have 60 days. We're going back to 1270. If it doesn't break above 1290 then watch the dow jones and s&p. The outlier event would be something along the lines of tax reform, I think markets are tired of trump promising tax reform and has already priced in the fact that it will be dealt with in the future nothing soon.

Masters finance student at Fisher college of business at OSU.
 
joseph1990 said:
no problem friend, just don't trust mail. I'm not a anti government tin foil hat guy but I used to work at a fedex with several coworkers with sticky fingers.

I understand that sentiment completely! Before I had this gig, I was in shipping and receiving at a very large trucking company for awhile (not the most fun job I had..) and it seemed commonplace for stuff to be "misplaced" or mistreated..

Heck, even a few shipments I had recently sent out that were marked "fragile" in multiple spots have been beaten up and broken. And trying to get insurance claimed is worse than pulling teeth!
----
I know some do, but me personally, I don't wait or play the stocks. If I have gold, and need money, I sell it. If its low, oh well, if its high, that's great. I make money by buying, refining, selling. Not by sitting on it. But, I know some people do, and that's perfectly okay. Different strokes for different folks. To me, its just a metal that has an incredibly high value.... Oh, and its very beautiful when pure. :mrgreen:
 
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