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Is this a good way to into gold for cheap ($1,000 per ounce)?
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<p>[QUOTE="Blissskr, post: 1328637, member: 34882"]I'm willing to bet he isn't refining the scrap at all just melting and pouring it into bars and that's what he means by 'raw'. In this case who knows how much actual gold your getting and it's going to be hard to sell a bar of unknown purity. You'd have to buy the gold and then refine it yourself (which will cost a decent amount if you don't have the equipment already) or pay a refiner to do it for you which again will cost a bit of cash. So in the end this cheap gold may not end up being very cheap at all. Consider you get a ounce and I'm being generous here, that's 70% pure so you getting roughly 21.77 grams for 1,000 or 45.93 a gram, versus real pure gold at 51.91 is it worth saving $6 per gram if the purity was 70% which it may not be? And when you add the cost of actually refining the ounce into the price per gram I bet you wouldn't be saving anything but paying more overall. I would be highly skeptical if I were you and if your still considering it ask the guy selling if he will meet you to sell the bars at your jewelers so they can test the bars for you before purchase. You can actually arrange to do this if he does agree I guess or the bluff may be enough that he won't contact you back and then you'll know he wasn't on the up and up.[/QUOTE]</p><p><br /></p>
[QUOTE="Blissskr, post: 1328637, member: 34882"]I'm willing to bet he isn't refining the scrap at all just melting and pouring it into bars and that's what he means by 'raw'. In this case who knows how much actual gold your getting and it's going to be hard to sell a bar of unknown purity. You'd have to buy the gold and then refine it yourself (which will cost a decent amount if you don't have the equipment already) or pay a refiner to do it for you which again will cost a bit of cash. So in the end this cheap gold may not end up being very cheap at all. Consider you get a ounce and I'm being generous here, that's 70% pure so you getting roughly 21.77 grams for 1,000 or 45.93 a gram, versus real pure gold at 51.91 is it worth saving $6 per gram if the purity was 70% which it may not be? And when you add the cost of actually refining the ounce into the price per gram I bet you wouldn't be saving anything but paying more overall. I would be highly skeptical if I were you and if your still considering it ask the guy selling if he will meet you to sell the bars at your jewelers so they can test the bars for you before purchase. You can actually arrange to do this if he does agree I guess or the bluff may be enough that he won't contact you back and then you'll know he wasn't on the up and up.[/QUOTE]
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Is this a good way to into gold for cheap ($1,000 per ounce)?
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