Ebay Refining Video - Poor Mans AR = Yield low?

[Harold_V]

Thanks Harold, GSP. I have never pursued .999 purity due to the fact that in "Hank Chapman, Jr's" book, " How to smelt your Gold and Silver", it states that it is a fellony to refine to that purity without a license from the "Federal Reserve", and I could never get in contact with anyone from there in order to inquire about getting such a thing. Thanks for the advice, and input. Sincerely: Rick.

That used to be the law, but that all changed on January 1, 1975. I used to look over my shoulder constantly when I started refining (1972 was the beginning of my refining experiences, although I never formally processed any gold until 1974).

Truth of the matter was that purity played no role. It was illegal to possess gold in any way aside from specific dates and numbers of gold coins, jewelry and dental work. Everything else was so tightly regulated that it scared you to death reading the reg's. The fine, then, was $10,000 and 10 years in federal prison. Remember-----this goes back to 1933, when $10,000 was triple the price of a new home.

I used to have a copy, but didn't have the wisdom to keep the document. In it it clearly stated that it was illegal to melt gold without a federal license. Should you choose to melt your high school ring, that was illegal. The license limited the individual to specific amounts of gold in their possession. Maybe GSP can fill in where I am wrong, or where I have failed to provide more information.

Harold

Edit: I did a search and found this link, which helps describe the reg's, and outlines the punishment for conviction.
http://www.the-privateer.com/1933-gold-confiscation.html

Scary stuff, Maynard!

 

[Richard36]

Thanks Harold. It just might be fun to try my hand at refining a small batch, and see what my results will be. Rick.