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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Bid Buster who wrote (380302)1/29/2009 4:20:31 PM
From: Horgad  Read Replies (1) of 436258
 
I have read a few things about that operation. They send you a low ball offer in the form of a check. If you refuse, they up the offer and you can continue to refuse, but even their highest offer stinks in comparison to a real scrap refiner.

I pay 92% for scrap gold based on the gold content stamped on the piece. This is about what you can expect to get from a refiner. The refiners pay a little more, but they buy based on the actual gold recovered from the refining which is always less than what is stamped on the scrap.

By buying scrap, I basically am, still to this day, getting gold for spot and avoiding the premiums. However, it does require learning the art of how to use an acid test kit and there is time involved to do the testing and deal with the fakes...
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