# Sold my first oz



## goldrush2009 (Jul 8, 2009)

Yes, Sold my first oz from scrap it assay out to be 0.92688 and sold for $743.53 not to bad.

Got a 90% buyer and here is the assay


Happy Days


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## goldmelts (Jul 9, 2009)

Cool, how did you refine it? 
HCL/CL? 
how many times did you refine?
How was the color of the borax in the melting dish?


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## goldrush2009 (Jul 9, 2009)

Thank You

I refine it with poormans AR then used urea and drop the gold with SMB....Refine mostly cpus and some pins it take alot of scrap to get a oz of gold LOL :!: 

The color of the Brox was a yellow to light brown////use only a little bit just enouh to cover the dish//


Happy Days


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## goldmelts (Jul 9, 2009)

Thanks for the reply, just wanted to understand what the borax will look like if 92% pure gold was melted.


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## goldsilverpro (Jul 9, 2009)

If I interrupted it right, the purity wasn't 92+% - you can tell it's much higher just by looking at it - the weight was 92+ tr.oz. Is that right, goldrush?


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## goldrush2009 (Jul 9, 2009)

Its all on the assay just read it .926 beween 22k - 24k

It was 32.08 gr's little over a oz but in the assay they use little amont to test....They drill a hole in it and test

Come on guys I thould you guys are old hats that this stuff...


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## goldsilverpro (Jul 9, 2009)

I think they got you for about 7% percent on the purity.


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## qst42know (Jul 9, 2009)

The print is to small and out of focus to read. What type of assay was this? And who paid for it?


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## EDI Refining (Jul 9, 2009)

qst42know said:


> The print is to small and out of focus to read. What type of assay was this? And who paid for it?



I'm guessing fire assay because the drill sample. The assay fee was deducted from his gold settlement. 
I could offer 90% account & $50 assay fee, aswell .


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## Harold_V (Jul 10, 2009)

goldsilverpro said:


> I think they got you for about 7% percent on the purity.


Funny you should say that. When I looked at the button I was impressed with the appearance of quality. 

I agree---I think they did pretty well on him. 

Harold


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## peter i (Jul 10, 2009)

That was my first thought too. That lump is a lot cleaner than 92% !

:shock:
(I guess, that having the buyer perform the assay on which the price is based, is like saying: "how much do you want to pay me for it")


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## dick b (Jul 10, 2009)

I am wondering how easy is it for a assayer to lower the result of an assay to his advantage?

Also with 1 toz of metal, the assay resulted in about 6% of the value of the metal. Had he brought in 5 toz of metal the $50.00 charge would have only been 1.25% of the value. That tells me that your better off selling larger bars to reduce the assay cost per toz.

If you don't know the value of the metal you bring in then you are really getting what ever the buyer wants to give you, and I still don't know a way to protect oneself from that. The buyer isn't going to pay any more that he has too.

Assumming the metal weighed 1 toz, he left 25% of the metal value with the buyer. I wonder if that unaccounted for metal was copper, tin and lead or not. The pipe in the button and the color of the metal sure looks like it was worth more that 90% of spot.

Just thinking out loud, but I wonder how fair he was treated.


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## goldrush2009 (Jul 10, 2009)

I first only went for a *assay ONLY *so I could sell the button on ebay "so I think it was a good assay"

It only cost me no more then $150.00 to come up with this oz of gold so my profit was high. And like you said there is no way to really know how good the assay is. Only go with a good company. This one has been around for 25 years. And in the state of Texas they need to be Lic...

You are right the bigger the buttton the less the assay cost...!!!!! I was just happy to sell it for the price I got. Alot of guys talk shit on here about there big buyer but we never see proof of it only talk...!!!!!


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## EDI Refining (Jul 10, 2009)

If you can produce gold, you should be able to assay it. Look into fire assays, Its not that difficult to do.

you didnt get the best payment available, but you didnt the worst either. 
As long as your happy with the full transaction, thats all that matters


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## teabone (Jul 10, 2009)

I deal with American Recycling Associates that is located in Dallas,Texas. They don't charge an assay fee and pay out 98%.
Like Peter said you could have done much worse, I have in the past.


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## EDI Refining (Jul 10, 2009)

teabone said:


> I deal with American Recycling Associates that is located in Dallas,Texas. They don't charge an assay fee and pay out 98%.
> Like Peter said you could have done much worse, I have in the past.



No assay fee & 98% accountabillity, do they quote Spot $20/oz under market ?


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## goldsilverpro (Jul 10, 2009)

dick b said:


> I am wondering how easy is it for a assayer to lower the result of an assay to his advantage?


A refiner I knew called it a magic pencil.



goldrush2009 said:


> And in the state of Texas they need to be Lic..


I ran a lab in Houston and it was licensed by the State of Texas. The only purpose of this was to prevent unlicensed labs from purchasing labware or chemicals that were used to make illegal drugs. For example, you needed a license to buy 500 ml erlenmeyer flasks. I had to keep an ongoing inventory of all this stuff and they supposedly would pop in unannounced and check what you had against the inventory list. In the 4 years I was there, I never saw them. Nothing was ever mentioned about labs having to provide accurate results. The licensing was basically a joke.



> I first only went for a assay ONLY so I could sell the button on ebay "so I think it was a good assay"


So what? I may be wrong but, it sounds like the company that eventually bought your gold also did the initial assay? If so, can't you see how that could easily put you in a losing position? Think about it. Only have an assay performed by a lab that WON'T buy your gold. Otherwise, it's a conflict of interest. A good lab that only does labwork tries to provide you with the most accurate assays that he possibly can. A gold buyer or refiner only does assays to benefit himself. From the looks of that button, it was a bad assay.


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## goldrush2009 (Jul 10, 2009)

Once again thank you for your comment's they are very helpful...The company I used does only assay's in this area. You can take a Item to them and pay a assay fee of $50.00 and get your assay done ($50.00 is the going rate)

I came in to pick up the assay and my button to sell on ebay or on the web, That's when I told them I was going to sell it and not put it in my safe Dep Box at the bank. The assay was done alrealy....Yes the button looks great but I think it was fair...Maybe I'll try two deffrent company's with the same button and see what happen LOL....or that least the same gold source

There Lic is for Weights & Measures


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## goldmelts (Jul 13, 2009)

goldsilverpro said:


> I think they got you for about 7% percent on the purity.



Thats why I was asking about the borax color, etc.

Using the forum techniques, I have seen we can usually reach 99%+ purity. 

And was thinking:
- Either we think our purity is higher than actual
- or the assayer made a mistake, and assayed lower than actual.


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## nicknitro (Jul 14, 2009)

GoldRush,

I can't say much about the purity of your gold from a pic. But I can say this "Good Job". That was a very perrtyy button, and if you made $600 dollars off the sale as compared to the prices of your chemicals and such, I try not to include labor as I usually do most of my refining when I'm not doing anything else, you did an excellent job.

What type of materials were you refining, sorry if you already answered this question.

Sorry I see types of materials as CPU and Pins now.

Also, yellow and brown traces in Borax, seems odd to me. When I have melted Gold purple comes to mind ,and I'll check my latest buttons dish, yup purple too, materials were already cornflaked, so less purple than from other powder melts. I do see some yellow on the outside of the dish, but I wonder if this was from a previous pour that stuck to an old crucible and landed there, as I saw very little loss in melting.

Congrats,

Nick


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