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stoneware said:
Thank you Janie and Jason!!
Click to expand...
I have a pile of natural gold to sell. It was all hand panned in the kootenays.
Time and ease of transaction is a factor. I feel sad for these to get refined! Do people often refine what gets panned? Looks like some of the larger nuggets would sell easily at higher than spot price.
 
benben said:
I have a pile of natural gold to sell. It was all hand panned in the kootenays.
Time and ease of transaction is a factor. I feel sad for these to get refined! Do people often refine what gets panned? Looks like some of the larger nuggets would sell easily at higher than spot price.
Click to expand...
Klesh has a YouTube channel and also sell paydirt. He was interested in buying natural placer gold - so maybe try to contact him. But I think he´s from Colorado.

In refinery or PM buyer you hardly gonna get spot price for placer gold. Bear this in mind. At his office, gold is just a commodity, no added value or anything.
 
It depends on the size of your nuggets, and shape. I have found that anything under 2 grams, will sell at the assayed spot value. Above 2 grams, I have gotten the weight of the Gold nugget price, even though it assayed at around the .750 finesness. If they are crystalline specimens, then they are a whole other ball game. Rare and unique crystalline specimens can go for $1,000's for a couple grams, presented on a nice piece of Quartz. Gem and mineral shows will present the best opportunity to get top dollar for your hard earned Gold.
 
BenBen,
I might be interested in buying a few pieces, could you send me some pictures? I'm interested in some in the 2-6 gram range maybe some smaller too. Or are you only interested in dealing locally?
 
Thanks guys, it will be dealt with in Creston BC most likely. I'll let you know where it ends up because they will be distributed from there most likely. For entertainments sake I can show off photos and some weights314648628_1160515834892015_40624761139160644_n.jpg314449286_807002897252754_4546584533505438095_n.jpg314552714_792217118519467_4088329285424861563_n.jpg314656720_1264892091032646_9160068669961847839_n.jpg310212268_822834705435852_23567568404407499_n.jpg
 
There was a gold rush there in 1864. 24 grams seems to be the largest of the bunch. My father-in-law worked the area in the 80s and 90s.
 
Seems like in Canada 50% of the capital gains get taxed at our income bracket. How to do the paperwork for the gold sold? I can see how people potentially launder money this way
 
Keep track of your mining costs. If you run your mining operation as a company or as an incorporated entity, which files a tax return, you can offset the cost of the Au verses what it cost to produce. If it costs you more to produce an ounce, you can take a loss for I believe, 5 years.After 5 years, the writing should be on the wall to quit.
If you bought at $1,800, sold at $1,600, you will get a credit on your taxes for the loss.
If you bought at 1,600, and sold at 1,800, you pay on the $200 gain. I think it is around 30% in the states, don't know the rate in Canada.
You don't have to pay capitol gains until you sell it. Show it as misc. income.
Most transactions don't have to be reported to the IRS (in the states), unless the transaction is over $7,500.
Some places will pay cash for Au. Hard to track those. Keep amounts under that amount, per vendor, and you should be ok. 2 sales to the same vendor/buyer over the $7,500 mark, and they may file the paper work with the revenuers, if they are legitimate.
There are lots of scenarios to cover. I am not a CPA, but have run businesses for 40 years filing returns, and asking my CPA many of the same questions, so feel my answer is fairly accurate.
 

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