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outnaboutnak

Selling My Gold For The Best Price

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Our operation is starting to yield some gold and with that comes selling it to pay the bills. The last batch I sold at Oxford in Anchorage but they only buy under 10 oz at 65% of spot. It will be a while before we can save up over 10 oz to get a better rate there so I'm wondering where we can get a better price. I haven't tried a private sale yet and don't want to use EBay. We also have a small selection of pickers that I was hoping to sell to a jeweler or collector. Has anyone had a good source for selling nuggets? One more thing, how about specimen? We've recovered a couple interesting pieces, very small but a couple with quartz still attached and one other piece that I've never seen gold look like before. Is there any value to that. I'd live to include pictures but my computer is down. Any advice would be appreciated. Thanks

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Craigslist makes it ez BUT as with ALL gold sales meet in the bank safe deposit box room,conference room as 100% safe for both buyer and seller. I've conducted biz this a way for a lifetime as DANGER selling otherwise in unsafe enviroments . If someone offered me a lousy 65% I'd laugh in their face and much worse-John

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It does make a difference how much gold you have and what it is. If you have mostly fines and only a couple ounces, you should be able to get a little better than 65% for clean fines, but have seen around 75% offered many times. You have to remember that most placer is only about 85% pure, some is more pure, some is less, but there is no placer that's 100% pure - and the 85% is of the metal part. If you have any attached quartz, black sand or other rock, that will take it down even lower. Without an assay, the refiner has to be sure he is making a profit - he cant pay you 85% if your placer with all rock and impurities included only has 85% gold by weight - the refiner has to make a profit to stay in business. So if he looks at your fines and they are dirty or have a lot of attached rock, you may get a low ball offer because the guy wants to make sure he makes a good profit.

 

Selling nuggets at a premium price takes time and the jewelers who buy the stuff always want to see it before they buy - and they too normally want a decent side lot of nuggets, not just a few pennyweight.

 

This is perpetually the situation of the miner where he needs ready cash to pay the bills. It always works such that the "It's an emergency and I gotta have cash NOW" price is always much worse than the "I can afford to wait and get a good deal" price.

 

Hang in there! Hopefully now that you are into some good gold, once you pay the bills you can hang on for a top price next time.

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Oxford is offering you 65% only because they don't know your assay. You might be better off just paying to

have the assay done this time, then in the future you and they will know.

 

 You can try all the jewelers around town for the coarse gold. I use to sell all my +10 mesh that way.

 

Unique, specimen gold can command much higher price, but you have to be willing to market it !

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