first timer needs help asap!!!!!

[Anonymous]

Hi just found this forum and its great! I am new to gold but have been able to buy about 2 pounds of 14 and 18 karat jewelry. I am looking for a good refiner witch has proven harder then finding scrap at a good price.I spoke to a rep at Metalor who told me that they dont deal with startups so he put me intouch with NTR metals. NTR pays 98% 24 hour turnaround no min shipment they do keep any silver they find but looks like a good deal. Is this a good refinery? Has anybody used them? I have talked to three other reps from Pease and Curren Almon and Midwest. All but Almon sounded good but this is the first time for me and i have alot of money on the line so if any of you could point me to the best refinery that would be great. I live in Pittsburgh PA if that matters. I told the rep for NTR that i wanted to be there for the melt the first time witch he said was fine. Is this a good idea to go? I felt like if I go I will have more control. Thanks for the great website its helped me understand all that goes into refining and makes me want learn it all!!!

 

[nickvc]

If you want to know for sure your not been cheated by any refinery melt the scrap yourself and have an assay done there are services advertised on the forum,failing that if you watch your bar melted ask for a sample of the bar as a safeguard. I have had dealings with NTR in the UK and have found them fair and helpful but the only way to find out is to try them,most refiners are doing very nicely at the moment with high metal prices but the least chance you leave anyone to be tempted to steal from you the better. 8)

 

[Lou]

ARA in Dallas, Texas seems to have the most favourable reviews here in the United States insofar as small lots like yours are concerned.


I have nothing good to say about Midwest or Pease and Curren.

 

[Palladium]

ARA

 

[leavemealone]

Hey monarch.I did not write because I have not heard back from my friend yet.He may be busy,so I guess the concensus is ara,but if it were me and you don't mind driving the 4 hours,I would go with ntr.Just my advice.Sorry I couldn't help you more,but I have never dealt with a refinery,so I am not that familiar with that aspect of it.
Johnny

 

[Anonymous]

Question: If NTR doesn't have any fees, and they don't have a minimum, how can they take 2% from, say, a $2000 job and still stay afloat? That is $40, and that won't cover their costs to run a single job. Something is fishy.

 

[nickvc]

Question: If NTR doesn't have any fees, and they don't have a minimum, how can they take 2% from, say, a $2000 job and still stay afloat? That is $40, and that won't cover their costs to run a single job. Something is fishy.

Your theory is good but you only assumed that it was just one lot, most of the bigger refiners are buying in kilos of gold in every day so say they buy in 30 kilos at an average of 14 carat that gives them 17.550 kilos their take is 2% that is 351 grams at $37 that becomes $13,000 plus the silver and the other metals they recover,believe me they dont work as a charity and the volume i used is probably way low,i know some refiners on this side of the pond doing in excess of $10 million a week :lol:

 

[MeleeDiamondGroup]

nickvc is right on the money. Couldnot have put it better myself.

Ryan