I have a question regarding selling scrap to a refiner

Going to send some old jewelry of mine primarily gold and I was looking at the site. The refiner says they pay 98% but loss of weight can occur. The person who pointed me to this refiner says some weight loss happens.

So my question is what's the actual rate of return versus advertised rate?
like your supposed to get 95% but ended up receiving 92%
Any experiences
What should I expect to actually receive for gold if the offered rate is 95%
Silver 90%?
Platinum 90%?

Im only sending in 21 grams of gold right now, so I want to get a realistic figure of what Ill receive for them.

Thank You

 

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are you in the usa or canada? normally they only take over 100 grams. and if you mailing it.... I would never mail my scrap gold.

 

I'd find a reputable local jeweller or coin shop to sell to instead. I know my local coin dealer pays better than those fly by night "gold buyers", he pays me in cash not a cheque.

 

Realistically there's no set way to actually tell what percentage will be lost or come back. Even though jewelry may be stamped a certain Karat often times it melts out less than stamped.

 

if the company want you to mail it... then 9 out of 10 they will rip you off. you must go in person and watch them melt it and test it in front of you. and the way that the company has no minimum amount you need to bring makes it more fishy

I have dealed with many refiners and they will pay up to 90-98% (depending on how much scrap you have, 100 grams being the minimum). normally you will loose a few grams, depending on how skilled the refinery is

if you have a friend whos a jeweler or if you have the tools its safer to melt it yourself and test it before you bring it in, so you know your not getting ripped off.

 

What to they mean "weight loss happens"? Metals do not randomly "lose weight", mass is mass unless you're talking about quantum physics. Every gold buyer I know simply weighs the gold and calculates the payment based on purity.

 

You do loose a little... Dirt, steel springs in clasps, small stones. In a 500 pennyweight lot I usually have a .5%-1% melt loss.

 

Twin turbo

i have trying to contact you about the 2 bars I purchased but your messages are turned off. If you do not want to send them then please refund my money. Thanks... Frank