Can I sell my gold directly to a refinery?

Can I sell my gold directly to a refinery?

If you sell your items straight to a refinery you are able to cut out the middle-man and get paid much more for your gold. Precious metals refineries are definitely the best place to sell gold and Cascade Refining is indeed an actual refinery.

How much do gold refiners make?

Scrap Gold: Karat or Purity Price Paid Refining Lots
18k Gold, 75% Pure Up to: $44.08 / gram, $1,371.09 / ozt
Gold Nuggets, Placer Gold, 90% Pure Up to: $52.90 / gram, $1,645.31 / ozt
22k Gold, 91.7% Pure Up to: $53.90 / gram, $1,676.39 / ozt
24k Gold, 99.9% Pure Up to: $58.72 / gram, $1,826.29 / ozt

What are the best gold refineries?

The top seven gold and silver refiners in the world:

  • PAMP, Switzerland.
  • Valcambi, Switzerland.
  • Argor-Heraeus, Switzerland.
  • Metalor Technologies, Switzerland.
  • Heraeus, Germany.
  • Tanaka, Japan.
  • Rand Refinery, South Africa.

Do gold refineries buy gold?

Gold Refining Gold refineries provide an economical and environmentally friendly precious metal recovery service. We buy gold scrap and separate the pure gold from the other precious metals and waste materials. Precious metal scrap such as placer gold, dental gold scrap and gold metal foil is weighed and then smelted.

Is gold refinery profitable?

Refineries set up in excise-free zones (EFZ) have profit margins of 1.25 per cent, while those based in domestic tariff area (DTA) have just 0.65 per cent profit margins, down from about 1.35 per cent in 2012.

Is refining scrap gold profitable?

Whether a freshly minted coin or old scrap jewelry, gold always has value. Many people, in fact, make a decent profit dealing in scrap gold. It is a lucrative business that entices many. You can have a successful business of buying and selling scrap gold, all you need is to know how to go about it.

Where is the largest gold refinery?

Valcambi
The world’s largest gold refiner, Switzerland-based Valcambi, has sourced over 20 tonnes of gold from UAE-based refiner and gold trader Kaloti, which likely purchased Sudanese conflict gold in 2012 and was at high risk of doing so in subsequent years, our new investigation reveals.

What is a gold refinery?

A gold refinery receives the raw material (rock, gold nuggets, scrap gold etc) and re-liquefies the metal in a hot furnace, then adds various chemicals to the molten substance to separate the gold from the other metals.

How do I sell raw gold?

Where to Sell Raw Gold

  1. Local gold buyers. An online search for local gold dealers and gold buyers will turn up options close to where you live.
  2. Rock, gem and mineral trade shows. Search online for trade show dates and venues near you.
  3. Online auctions and marketplaces.
  4. Cash-for-gold businesses.
  5. Prospecting clubs.

How do I start a gold refining business?

You can start your own gold refining business with the right supplies, tools, and chemicals. The jewelry industry has high demand, which makes gold refinery a business worth getting into….These refineries include:

  1. Cupellation.
  2. Inquartation.
  3. Miller Chlorination Process.
  4. Wohlwill Electrolytic Process.
  5. Aqua Regia Process.

How much gold is lost when melted?

Typical losses from refining gold are 1%-2.5% from melt or mass losses and another 1.5%-2.5% on assay or undercarat losses.

Can you sell melted gold?

Buyers melt the gold down, so they will not pay anything for the artisanship or style of the jewelry. Second, dealers must pay a smelter, someone who melts the gold, up to 30 percent of the value to refine the precious metal. Then there’s the buyer’s profit.