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CrunchyBacon

Member
Joined
Aug 5, 2014
Messages
11
Hey all new member here and just wanted to say i stumbled on your site while trying to research melted globs of precious metals. I was unaware of the exact math and contents of these E-bay globs and might have fallen for this scam. Currently im winning 1,107grams of glob material for under $40. As im posting this i am losing more and more so i dont think ill be raising my bids on any.
Im not sure if my math is off but i was originally figuring that 1107 grams of unrefined glob should net me at least 1% (which equals 11grams). Even if i only got 3-4 grams of refined pure gold after chemicals that would leave $100-$146 profit?
Am I missing something here?
Thanks in advance
 
At best, I would say the gold content would be about 0.5%. That would be from pins of light to medium weight entirely coated with gold. In reality, most people who make these globs are dirty rotten scoundrels. The gold content is likely to be less than 0.5% and, in many cases, much less, maybe zero. When you buy those globs, you're buying a pig in a poke. These globs are designed to deceive. If the seller has nothing to hide, why wouldn't he sell the pins as is?
 
What numbers did you use to come up with the 1% estimate?
They are mostly Copper and I wonder if they adjust the color on the camera to make them appear more golden colored. :|
They are a bad investment.
 
I appreciate the replies. I originally had a high number of 10% but then to be on the safe side did the calculations if only 1%. I guess 10% is out of the question lmao. Anyway I'll buy the ones I'm still winning when they close and just chemically refine them with the kit I saw on ebay for 24.95. Won't strike it rich but should break even I guess.
 
just think how easy recovery is.
Why would any one with half a brain pass on profit they them self could easily make.
The amount of similar lots coming in from Israel is amazing.
There are a great meany Alloys that have a gold color and luster just after smelting but it only last's with Au.
 
They aren't using fingers to make these globs. They're probably gold plated copper pins from computer boards, if that! I'd ask the seller(s) to withdraw your bid if it were me. Can you say rip-off????!!!! :x
 
Woot wooot. Someone else just went down the list and as I'm posting this I'm being outbid on allll globs!!!

P.s. I'm still winning on over 300+ memory cards! Am I maybe setting my max bid to high at .30/stick?
 
I think you overbid on the refining kit. Why do you need a kit at all, it's all here for free, just read! :|
 
Wow! Don't do it dude. Although I am not a long timer here I do know that the globs are a bad deal for a couple of reasons 1) They are globs of who knows what. 2) Very difficult to refine when in that state.
 
if you do win your "Globs" Please do remember to log all your findings.
It will help others no to replicate your mistake,or may be the Israeli's have started to export there wealth to others.
But as a nation they are probably related to the vast majority of Pawn Brokers and Precious Metal Dealers in the world so I can not understand why they would put there item's on ebay unless they wanted an unfair level of profit.
 
It's all about the Benjamins. Simple math 1 lb gold pins = 16 0z (when they are buying they use 16 oz, when selling 20 oz to a lb.) 25% mark up most civilians miss. melt the 20 0z pins they paid $50 or $60 for into a one oz rough mold and it will weigh about 50 to 60 g they sell for $20 ea.. 10 "Drop" bars x $20+ $200 gross - $5 worth of map gas - $60 for the pins = $135 net profit. 200%. Quick and easy . They sell 1000s of them a day. It is in my mind immoral but its not illegal.

p.s. You don't suppose some unscrupulous buyer of these bars out there is reselling them to other uneducated folks as Karat bars do ya. Surely not :)

"If you expect something for nothing you will, many time,s get just that, something worth nothing" mcw
 
justme2 said:
It's all about the Benjamins. Simple math 1 lb gold pins = 16 0z (when they are buying they use 16 oz, when selling 20 oz to a lb.) 25% mark up most civilians miss. melt the 20 0z pins they paid $50 or $60 for into a one oz rough mold and it will weigh about 50 to 60 g they sell for $20 ea.. 10 "Drop" bars x $20+ $200 gross - $5 worth of map gas - $60 for the pins = $135 net profit. 200%. Quick and easy . They sell 1000s of them a day. It is in my mind immoral but its not illegal.

p.s. You don't suppose some unscrupulous buyer of these bars out there is reselling them to other uneducated folks as Karat bars do ya. Surely not :)

"If you expect something for nothing you will, many time,s get just that, something worth nothing" mcw
Click to expand...
20 oz doesn't equal a pound in any weight system that I'm aware of. Where did you come up with that? Makes no sense at all. Maybe you're just a "civilian"? Maybe you should have said that they buy based on an avoirdupois pound and sell based on a troy pound. I would buy that.

There are:
-16 avoirdupois ounces in an avoirdupois pound
-14.58 troy ounces in an avoirdupois pound
-12 troy ounces in a troy pound
-13.17 avoirdupois ounces in a troy pound
 
goldsilverpro said:
justme2 said:
It's all about the Benjamins. Simple math 1 lb gold pins = 16 0z (when they are buying they use 16 oz, when selling 20 oz to a lb.) 25% mark up most civilians miss. melt the 20 0z pins they paid $50 or $60 for into a one oz rough mold and it will weigh about 50 to 60 g they sell for $20 ea.. 10 "Drop" bars x $20+ $200 gross - $5 worth of map gas - $60 for the pins = $135 net profit. 200%. Quick and easy . They sell 1000s of them a day. It is in my mind immoral but its not illegal

p.s. You don't suppose some unscrupulous buyer of these bars out there is reselling them to other uneducated folks as Karat bars do ya. Surely not :)

"If you expect something for nothing you will, many time,s get just that, something worth nothing" mcw
Click to expand...
20 oz doesn't equal a pound in any weight system that I'm aware of. Where did you come up with that? Makes no sense at all. Maybe you're just a "civilian"? Maybe you should have said that they buy based on an avoirdupois pound and sell based on a troy pound. I would buy that.

There are:
-16 avoirdupois ounces in an avoirdupois pound
-14.58 troy ounces in an avoirdupois pound
-12 troy ounces in a troy pound
-13.17 avoirdupois ounces in a troy pound
Click to expand...

Sorry sir: I'm old and allowed to make stupid mistakes now and then. You are absolutely right, I stand corrected. I got to thinking ahead of what I wanted to say and screwed it up.
 

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