Refiner for small operator

[lekjaz]

Hello,

I am new to this forum and I appreciate all the information here.

I am a small/hobby refiner in the Northeast US, somewhat new to the game.

I can generate about 1 ounce per week of 24k gold sourced locally. Maybe someday I will do more if the profits are there.

I am looking for a refiner. I don't mind shipping to a reputable business, as I live in a fairly remote area. Looking for recommendations.

Also does anyone have experience with Manhattan Gold & Silver? They advertise a 96% payout on their site. It's not the highest, but it's better than the 90-95% payouts I have been reading about in this forum.

Thank you in advance for your replies.

lekjaz

 

[etack]

I have used HighTech several times with good success its been a few years. The payout is better than 96%.

if your gold looks good you might sell it here for that. Post a pic.

Eric

 

[lekjaz]

Thanks very much for the reply. I appreciate it!

I have a batch going to refine this weekend. I will post pics.

Some of the refiners have minimum orders that are more cash than I can tie up at one time. Someone who can work with a small timer like me would be great.

 

[snoman701]

What state are you in, and do you have a business EIN?

 

[lekjaz]

In ME, yes I have an EIN

Unfortunately, I had a bad experience with a refiner. I was referred to LGS in Union Grove, Wisconsin. I sent them 2.5 ounces of gold, which they assayed at 99.99% pure (pretty good for a little guy like me). They shaved off a 1/4 ounce of gold from the final weight, calling it "melt loss". What a scam! Back to the drawing board

 

[Helian]

I've dealt with Manhattan Gold and Silver. My experience was very positive. Among other things, they bought my cement silver for nearly the same price as they were paying for generic rounds and bars. They were able to assay it on the spot without melting it.

 

[ZiegenSauger]

One ounce per week? I managed to get 1 ounce this entire 2021 when my end of year goal was 3 Oz (after refining)
Woe

 

[upcyclist]

Unfortunately, I had a bad experience with a refiner. I was referred to LGS in Union Grove, Wisconsin. I sent them 2.5 ounces of gold, which they assayed at 99.99% pure (pretty good for a little guy like me). They shaved off a 1/4 ounce of gold from the final weight, calling it "melt loss". What a scam! Back to the drawing board

Melt Loss fees are frequently seen, but 10% sounds high from what I've read about on the board. I mean, if they claim a 10% melt loss fee, that means they're saying they lose 10% of each lot during refining--not exactly what I'd want the world to know were that true. Maybe that's a minimum melt loss to discourage small lots, kinda like when Rio Grande (one of the jewelry suppliers I use, but not to buy gold!) recently instituted a $50 assay fee--not a big deal if you send in more than a couple ounces of gold, but it makes 2 ozt of sterling scrap completely impractical.