Looking for a Refiner in Souther California! HELP, PLEASE!!

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Anonymous

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Hi! Everyone,

I'm new to this site. I've been doing a lot of reading and am glad I found you guys. I'm just getting in the business of buying scrap gold and am wondering if anyone can direct me to a good, honest, refiner in Southern California. I'm in Westlake Village.
I would appreciate your assistance. This seems like a good honest group willing to work together and help each other. I like that.

Sharon :roll:
 
Sharon,

Glad to have you aboard

I haven't been out there for so long, I don't know the present situation. I mainly am responding because I also lived in Westlake Village for about 5 years. I worked for a refiner in Newbury Park, but they're not there any more. I also worked for a refiner in Chatsworth, but they're not there either. Look under Smelters in the Yellow pages. As far as finding an HONEST refiner - Good Luck.

If you have karat gold, you might look at David Fell. I think they're still in the Jewelry District, on Hill street, in downtown L.A. This is not a recommendation. Dave has retired and his son took over. I have never dealt with the son. Sometimes, the like Father, like Son thing doesn't pan out.

Chris
 
Hi! Chris,

Thanks for your input. I have found someone who will give me spot cash. This man has a good reputation. He's a jeweler and he melts the gold down himself. He's in my area. I'm going to give him a shot and hopefully things will work out with us. I know how hard it is to find someone honest to deal with; especially today, when people are desperate. I'll be happy to take a little less, not go through the hassle and deal with someone locally.

Don't know what you're doing now or where you live; but I hope you are doing well.

Thanks again for your communication.

Sharon
 
Sharon,

As a buyer, I'm sure you have a good idea of what your stuff is worth. From a jeweler, as a repeat customer, I feel you should get at least 90% for small quantities. If you have a lot of gold, you should get as much as 98%. The dollar cost of refining gold is about the same as it was just a few years ago, when spot was $250. Don't let them make too much profit. Get all your ducks in a row before selling.
 
Hi! Chris,

Is spot cash a good amount for me to be getting or should I be getting ??????

Obviously I am very, very new and just in the learning stages.

Thanks for your help.

Sharon
 
I misunderstood. The jeweler is giving you FULL SPOT? Is he basing it on the FULL karat markings. If so, you've either found a philanthropist that likes to give his money away, a sneaky thief that uses ingenious tricks to steal from you, or an idiot that thinks he can get away with making good jewelry from scrap gold.

Is he just weighing the material and paying you or is he melting and paying on assay? If the latter, make sure he gives you half of the sample.

Just beware that there are other ways of getting to you. Think of all the possible ways he can cheat you and do things to avoid this before you go in his shop. Separate your material by karat. Weigh each pile. Calculate your total estimated value using the spot price, the weights, and the full karat markings (10K, 14K, 18K). Calculate the total value subtracting 1/2K from each (9.5K, 13.5K, 17.5K - the actual value will usually be pretty close to these numbers). If you are armed with this info, you will know whether or not he is honest. Don't be afraid to take your stuff and leave.
 
I was surprised at that as well.

Definitely follow the great advice Chris gave for determining your value before selling, what you are being told you will receive just does not happen in my experience unless something was taken out by trickery.

As Chris stated you can not just melt down scrap karat gold to make quality jewelry. The only way this makes sense to me is if the jeweler has the ability to refine it himself saving the premium he pays over spot for shot, or if he is speculating gold prices will go up and wants to stock up even if he has to overpay.
 
Hi! Chris and Oz,

The man I'm talking about has a jewelry store. He was recommended to me a couple of years ago, as an honest jeweler in my area. I went to see him a couple of days ago.

He does buy gold from other people like myself. He showed me several bags of miscellaneous jewelry that he's purchased from other people. He melts it down as well. He said he's been too busy thus far to melt it down. I honestly don't know if he makes other jewelry out of it or not. I don't really think so.

From the person back east that has been teaching about doing gold parties, she suggested I try and find someone local who would pay me spot cash. Most of the jewelers around town, I of course, do not trust. I come from a family of jewelers. Doesn't mean I have a lot of knowledge, but helps a bit. He told me he'd pay me spot cash and also warned me about not getting the full price, as Chris indicated. I'll follow your advice and see how close he comes.

He's a small one man local jewelry shop. I spent about an hour with him. 4 or 5 customers came in while I was there. They all knew him by name and he knew their names. He told me he has a good steady business and knows every one of his customers.

I figure I'll give this guy a shot. I may also take my gold elsewhere first to a guy that I don't really trust. See what he offers me and then go to Andrea.

I appreciate all your suggestions. Keep em comin!

Thanks,
Sharon
 

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