Gold price ?

[yeager]

I sold 2.6 g of gold most of it was specks with a couple descent flakes and a gram chunkie. Spot price would be 126.8 as of this momment at "1517 OZ". I wasn't attached to this gold cause it was some of that felix bagged gold and for some reason that just took all the fun out of it for me..but thats me. I figured the felix was less than pure i could see some rock matrix in the chunkier stuff. So I settled for $90. My question is how does one justify the purity and access the sale or purchase.. say the gold was 80%...?

[dickb]

If the gold assayed as 80% gold then 80% of spot would pay $101.44 per 2.6 g based on your calc of $128.80. 80% = about 19k

You got 71% of spot for your parcel. So the buyer has 9% to use to pay for testing and smelting to get the gold to 24k and make a little profit.

I've seen buyers offer to pay 65% for fines, flakes and pickers. And I've seen people try to steal is for 11%.

So all in all, I don't think that you got hurt too bad for that small a parcel.

Anybody else that has sold gold recently want to add too this?

Dickb

[yeager]

Im goin to have to figure this whole smelting process out ...Thanks for your reply

[dickb]

Hi yeager:

Why would you want too refine your own gold? It's not something that lends itself well to small quanities, and do you have a good understanding of chemistry?

Dickb

[russau]

unles your "certified" you still need to get someone to re-smaelt your gold for the "stamp of karat value. so just melt it into a dore bar/prill and go from there.