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Has anyone ever sold goldleaf scraps?

S

signtologist

New Member
I was wondering if anyone has ever tried to sell goldleaf scraps to a gold dealer/buyer?

We have accumulated 40 years of goldleaf scrap and we weighed it, and it's about 7 oz. I know there is air and other stuff that might be in it so we know the gold probably doesn't truly weigh 7 oz. When we took it to a gold buyer he had it tested and told us that the 7 oz bag of gold we had was worth no more then $150.00.

If you have done this, please tell me how it turned out for you or if you know how to go about it.
 
Vinylman

Vinylman

New Member
Your gold buyer is trying to rip you off.

Gold is north of $1600 per oz currently.

What you need to do is put your gold into a CLEAN glass vial that you know the exact weight of including the cap [this is called your tare weight].
Then put your gold scraps into that. Take them to a certified gold buyer, and have them make you an offer based on the net gold weight you have based on the current daily spot gold price. Allow them some slight leeway for handling and resale.
That should get you a fair price.
 
bob

bob

It's better to have two hands than one glove.
signtologist said:
...
We have accumulated 40 years of goldleaf scrap and we weighed it, and it's about 7 oz. I know there is air and other stuff that might be in it so we know the gold probably doesn't truly weigh 7 oz...
Click to expand...

Are you familiar with the laws of physics? If you put something on an accurate scale and that instrument indicates 7 ounces then there exists 7 ounces of heavier than air material on the scale.

It doesn't matter how much air space there is, 7 ounces of stuff is 7 ounces of stuff.

If you want to prove that, melt it down [any plumber or any black powder shooter can do this for you] and cast it into any convenient concave steel vessel. Weigh it when it cools. 7 ounces.
 
Gino

Gino

Premium Subscriber
We just did this. Gold is weighed in troy weights. 12 troys make a pound, so you might have a little less than you think. However, your gold buyer is a liar and a cheat. About four months ago gold was well over $1,600 an ounce and he paid about $1,450 which is I think the highest allowed by the government or whoever regulates that stuff. We had a little over 18 troy ounces.

Turned out, after he tested it at two places..... it was gold powder dust which is really brass and no gold whatsoever. It was 'pale gold'.

If you have that much, and it's 23k, I'd think you were sitting on about $7,000 if you find the right buyer.
 
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