Off to the Smelters

[on2wheels52]

I think gold has gotten high enough to turn my scrap into the refiners. Sent some sterling also although the return is a lower percentage than for gold.



Tabs, did you want the spoons?
Jim

[Mo_Gearhead]

Jim, I have a 'chunk' of gold that was in a box of stuff I got from an estate sale.
The elderly guy repaired jewelry at home I guess. It looks to be just a melted glob? If I weigh it on my powder measure (grains) can you tell me what it's worth?

Also: how does one test for purity?

[masraum]

Mo, if you weigh it, you should be able to do a search for the value of gold on the net and value the stuff yourself.

[WolfeMacleod]

I've wondered how much these places that buy gold from TV commercials pay people. I have a feeling it's pennies on the dollar.

[masraum]

I did a search for "value of gold" the first hit that I got was a chart that's updated every 2 minutes.

http://www.kitco.com/charts/livegold.html

right now it's almost $760 an ounce.

I then did a search for "test gold" and came up with this on the first hit

For these pieces, the gold test is the answer. "You've heard the expression, 'Give it the acid test,'" Barry says. "Well this is literally giving gold the acid test." The process begins by rubbing some of the metal from the jewelry against a slate (or sometimes a special piece of glass). "It scrapes off the gold like chalk on a board," Barry says, yet so little gold rubs off that it doesn't damage the jewelry.

Then, acid is poured on the metal residue that was rubbed onto the slate — not a procedure that Barry recommends you try at home. "It's dangerous," Barry says. "The acid can damage your clothing and your skin."

That's why Barry recommends you have a jeweler test your gold (if they do charge you, it will usually be only a nominal fee). If the metal rubbed onto the slate completely disappears under the acid, the piece is not gold. But if any metal remains, then it is gold, and the amount that's left can be measured to provide an indication of its fineness.

The results of both searches yielded thousands of results with pretty much the same info.

100 grains = 0.228571429 ounces. or if you do a search for "convert grains ounces" you'll find a whole bunch of sites where you can just plug in the number and the site will do the math for you.

[Neilk]

I saw those ads a tried to do the math. They make it somewhat difficult to figure out what they pay because they pay by the pennyweight instead of gram. But a quick google search will tell you that there are 18.229 penny weights per ounce...

Cash4gold which advertizes on Stern pays $481.07 for 24k gold. Nice profit if it isn't too much of a hassle with all the crap you have to deal with.

[Mo_Gearhead]

Thanks Steve.

[tabs]

I don't think I would be sending silver coins off to the smelter....Its only a tragedy if the silver that is being melted down is by a famous or unique maker. Most of what appears in the photo seems like JUNK that is better off being melted.

[masraum]

Originally Posted by tabs

I don't think I would be sending silver coins off to the smelter....Its only a tragedy if the silver that is being melted down is by a famous or unique maker. Most of what appears in the photo seems like JUNK that is better off being melted.

I agree, the coin looks like a silver dollar. I'd take that and can't imagine that the value of the silver in the coin is more than the value of the coin itself.

[on2wheels52]

I placed the Morgan $ there to give an indication of size, I have another market for coins. Today I offered a gent eight fairly nice ones @ $15 a piece, he offers 12. "Junk' silver coins go for $11.50 X face value at today's silver price. I kept them.
Mo, I have the acid bottles to test for karet but normally just use it on unmarked jewelry, I wouldn't have total faith in the results on your chunk. Calling it 12 kt might be close if he was working on jewelry.
The pennyweight thing can cause some head scratching; a Troy oz is different than an avor. oz. If I remember correctly 24 grains (from your reloading scale) is one pennyweight (dwt). 20 dwt equals one Troy oz (480 grains).
The formula my buyer uses is: spot gold price X % gold X 99% devided by 20. This gives the price per dwt of whatever karet gold you have.

For example, you have a 14kt chain that weighs 23 dwt. Its scrap value with gold at $760 is
$760 X 58% X 99% /20 X 23 equals $502.
Before you ask this company's address I should add they charge a $35 refining fee and any amounts of metal less than 200 dwt (5 troy oz) will be paid at a rate less than 99%.
I don't have tv, I'm curious what the ads offer.
Jim

[id10t]

Any advice on getting gold out of stuff? I've got a ton of old CPUs with lots of gold pins on each one ... need to get a good way of getting 'em removed from the ceramic block they attach to, and there is more inside... or should I just auction them off as a lot on ebay and let a scrapper get 'em?

[Joeaksa]

My old dentist in Berlin kept a pot full of old gold that he removed from patients mouths. He always asked them (he did me) if they wanted the old inlay and when they said no he kept it. Every 3-5 years recycled it and the amount back in the mid-90's was just under $10k each time. He put it in the bank for his son's college fund.

Should be worth a lot more these days...

[BRPORSCHE]

Originally Posted by id10t

Any advice on getting gold out of stuff? I've got a ton of old CPUs with lots of gold pins on each one ... need to get a good way of getting 'em removed from the ceramic block they attach to, and there is more inside... or should I just auction them off as a lot on ebay and let a scrapper get 'em?

DOn't ask me why I know this, but cyanide is used to leech gold out of rock. So maybe it would work on the ceramic?

[masraum]

Originally Posted by BRPORSCHE

DOn't ask me why I know this, but cyanide is used to leech gold out of rock. So maybe it would work on the ceramic?

Just don't lick your fingers, rub your eyes, or...

breath.

[on2wheels52]

id, can provide no help on removing gold plateI'd let the refiner handle that. I'd assume the payout % would be much lower than with karet gold, will check. I've been using the line 'it takes a ton of gold plate to make an ounce of gold'. That may not be totally accurate but gives you the idea.
Joe, not everyone gives the dentist their old dental gold, I get a chunk every couple of months. It's nominally 16 kt.
Jim

[id10t]

No plating, it is all gold wire.... although after checking evilbay it looks like I should just sell the whole CPU as a lot and let the guy on the other end take care of getting the gold out...