Typical Refiners Fees and Margins

[DBAU]

Wow less than 1%, it is incredible! I'm trying to buy gold scrap jewelry and then sell it back to friends who are jewelers at little over spot. With their contacts they are able to sell it back to customers at spot +30% or more.

 

[4metals]

That rate, less than 1%, is for collectors shipping about 300 troy oz per shipment. And larger lots get lower rates.

A lot of refiners today buy in scrap and pick out the good pieces and sell them on an eBay site they operate. The rest they melt and assay, pay the customer, and put into lots large enough to get favorable rates from the major refiners.