where to sell gold?

[Sphinx]

Over the years (15) I have collected enough gold nuggets (Sierra Nevada Mountains), smelted them down and made them into a 5oz ingot . Where would be the best place to sell it to get top price? I was told to stay away from jewelers and pawn shops. Can anyone recommend a good place to turn this into cash at actual gold market value or close to? I don't mind a few hours drive from where I am at to do it. I am in Kern County CA. Any help would be greatly appreciated.

 

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[Jeffro]

You'd get your BEST price by making them into jewelry and selling them at flea markets and such, several times spot value most times.... but since you've already melted them a refiner would probably be your best bet.

Try Midwest or Kitco-

 

[djui5]

You could try to sell it here, in the classifieds. Ingots fetch current spot prices, which is $645 an ounce, so your bar should sell for $3,225 unless gold goes up tomorrow, assuming it's 99% pure or better.

You can also try to put it in the classifieds at nuggetshooter.com, and on goldbay.com

Like posted above, midwest and kitco usually purchase gold at spot price. Those might be your best bet really.

 

[MUD(S.W.A.T)]

Hi,

You can sell them here on Tnet or on E-bay, I have an Ebay account and sell for people. 100% Positive Feedback user name is Mudswat, I take 10% for my work listing things and such. You pay your own listing fees. You should get the weight value or more on jewelry depending on the buyers.

Keep @ it and HH!!

 

[stoney56]

You'd get your BEST price by making them into jewelry and selling them at flea markets and such, several times spot value most times.... but since you've already melted them a refiner would probably be your best bet.

Try Midwest or Kitco-

Yep, one thing to remember is that natural nuggets are usually about 18KT to about 22KT. So it'll be a bit less than current spot less their fees.

 

[Kentucky Kache]

You could try to sell it here, in the classifieds. Ingots fetch current spot prices, which is $645 an ounce, so your bar should sell for $3,225 unless gold goes up tomorrow, assuming it's 99% pure or better.

You can also try to put it in the classifieds at nuggetshooter.com, and on goldbay.com

Like posted above, midwest and kitco usually purchase gold at spot price. Those might be your best bet really.

Isn't it always .999 after smelting, if done correctly?

 

[Jeffro]

You could try to sell it here, in the classifieds. Ingots fetch current spot prices, which is $645 an ounce, so your bar should sell for $3,225 unless gold goes up tomorrow, assuming it's 99% pure or better.

You can also try to put it in the classifieds at nuggetshooter.com, and on goldbay.com

Like posted above, midwest and kitco usually purchase gold at spot price. Those might be your best bet really.

Isn't it always .999 after smelting, if done correctly?

After refining it is, with all the impurities removed. Smelting is just melting it down. The impurities are still there. So basically what he has is a chunk of 80 percent gold (or so) the rest will be copper, silver, and such. Which the refiners don't usually bother paying you for.

 

[Kentucky Kache]

Okay. I thought you skimmed everything off when you melt it, making it pure.

 

[Jeffro]

Okay. I thought you skimmed everything off when you melt it, making it pure.

I really have no idea what the exact process is for refining, but I'm just assuming its more than skimming the trash off. PGM's are heavier and wouldn't float at all necessarily.

 

[DFX-SE Gregg]

I believe midwest refineries pays 94% of spot good luck!

 

[Charlie P. (NY)]

Okay. I thought you skimmed everything off when you melt it, making it pure.

I really have no idea what the exact process is for refining, but I'm just assuming its more than skimming the trash off. PGM's are heavier and wouldn't float at all necessarily.

Not that easy. Alloys are formed of melted metals. Gold ore can coinain lead and silver as natural incursions. You have to melt at a high temp and/or otherwise chemically (with cyanide or mercury) or mechanically (centerfuge) seperate the metals to refine it. Melting and then scraping the dross and fluxing to remove impurities are just the first three steps in the process - and the other steps are mostly beyond the capabilitities of a home forge, furnace or torch.

 

[Sphinx]

I melted them down with this:
http://www.ajstools.com/products/casting/melting3.html.

I skimmed off the top to get the impurities, sand/stone off and poured it into these:
http://www.ajstools.com/products/casting/mold3.html

 

[Southernhunter]

In the early 80's I mined gold on the south fork of the Yuba river & we would take our gold to the assayers office in Grass Valley. I don't imagine you want to drive that far north though so here's a few in your neck of the woods

DANIEL & SON
640 S HILL ST # 558
LOS ANGELES, CA 90014-4019
Phone: 213-624-5678

DJABOURIAN GOLD ASSAYING
610 S BROADWAY
LOS ANGELES, CA 90014-1824
Phone: 323-623-1099

GOLD ASSAYING CTR
411 W 7TH ST # 514
LOS ANGELES, CA 90014-3613
Phone: 213-622-6287

M G GOLD ASSAYING
629 S HILL ST # 318
LOS ANGELES, CA 90014-1738
Phone: 213-622-1551

RMS GOLD ASSAYING
629 S HILL ST # 1201
LOS ANGELES, CA 90014-1747
Phone: 213-489-2343

ST VINCENT GOLD ASSAYERS
640 S HILL ST # 662
LOS ANGELES, CA 90014-4018
Phone: 213-627-6732

 

[Born2Dtect]

I have a question. Am I correct in assuming that you should not melt down, smelt or refine found gold nugets? How about jewelry? Anyone know?

Ed D.

 

[BioProfessor]

There has been quite of posting about Hallmark's and maker's marks on the forum. Maker's marks are registered unique marks that identify the maker of jewelry or other metal objects. Hallmarks are placed on metal objects made of precious metal (although silver is the only one truly recognized internationally. Gold is lagging behind) by the maker (you have to be authorized to buy and use the hallmark stamps). These marks give and the person responsible for the mark guarantees the amount of silver (or gold) in the item as a percentage of troy weight.

If you wish to sell your bar of "self smelted" gold, it will probably have to have an assayer's mark and a hallmark indicating the carat of the gold. Without that, I doubt that you will get much.

As far as the flea market jewelry that you might make and sell, remember it is a crime to mark precious metal with a hallmark for purity without an assay certificate on file. You also have to be a registered jeweler to purchase the hallmark stamps. It is not as easy a process as you might think.

Daryl

 

[Southernhunter]

Personally I would not melt down nuggets as they have an aesthetic value for jewelry & that can sometimes yield a greater return than pure weight. Also (as mentioned above) the purity of a smelted ingot is at question for resell without a validation mark.