Selling your gold

[isaiahw250]

So after refining and testing your gold, let’s say you test 99.99%

You take it to a pawn shop or jewelry store and they test it and see it’s 99.99%. I wonder how much would they offer? I know it won’t be market value and I know everybody won’t know because everybody’s different but I’m curious and want ballpark numbers. Let’s say you have 102 grams and market value is $83 per gram. That’ll be around $8,466. How much would they offer?

 

[Yggdrasil]

So after refining and testing your gold, let’s say you test 99.99%

You take it to a pawn shop or jewelry store and they test it and see it’s 99.99%. I wonder how much would they offer? I know it won’t be market value and I know everybody won’t know because everybody’s different but I’m curious and want ballpark numbers. Let’s say you have 102 grams and market value is $83 per gram. That’ll be around $8,466. How much would they offer?

Welcome to us.
It all depends on the actuall buyer and how well you know him and vice versa.
So if you want ball park numbers why 102 grams and not 100?

 

[isaiahw250]

Welcome to us.
It all depends on the actuall buyer and how well you know him and vice versa.
So if you want ball park numbers why 102 grams and not 100?

Thanks and what’s the difference between 102 and 100

 

[Yggdrasil]

Thanks and what’s the difference between 102 and 100

Exactly my point.

 

[isaiahw250]

Exactly my point.

any pointers? I learned quite a bit within 2 hours of finding this thread

 

[Yggdrasil]

any pointers? I learned quite a bit within 2 hours of finding this thread

I'm on a different continent and do not sell Gold.
There are many in here that do, so have a bit of patience.

 

[goldshark]

If you have a business license, including tax ID number, a legitimate refiner will pay the highest percentage, depending on quantity, usually in the 95-98% fineness, with some paying 100% of spot, depending on whether it is high in Ag, to cover refining costs.. Pawn shops like to make 50% ish profit, so they are generally the worst to sell to. Cash For Gold gave me the best rates on small lots, around 85% of spot. A lot of variables can go into selling, including a trusting relationship, quantity, purity, and anticipated market conditions, just to name a few.

 

[Shark]

A lot of variables can go into selling, including a trusting relationship, quantity, purity, and anticipated market conditions, just to name a few.

Pay attention here as this is one of the best answers to why one person gets higher prices than some others do.

Once I found a buyer that treated me as good as I wanted to treat them, I feel we both built on that relationship and it served us both well. It went so far as me being able to meet the buyer that bought the gold I refined that collected unique nuggets and buttons, and I did not begrudge the profit my buyer made versus what I got for it. I got to see a small window into the other side of the gold buying and selling game that few as small scale as myself ever gets to see first hand.

 

[4metals]

Assuming you get it to .9999 and the buyer actually agrees that it actually is pure, it is reasonable to expect a 95-96% payout. Your example is for less than 4 ounces of pure gold, that quantity gives the buyer an ability to make a few percent after they pay their refiner's fee's.

But, as others pointed out it depends on the quality of the gold you produce and the frequency you sell. If the buyer realizes you bring in a 100 gram weight or so routinely and they can charge 4%, they know they can make close to $300 every time you come in. And they will come to respect your business.