Gold And Silver Refining - Coin Community Forum

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Author	Replies: 6 / Views: 1,310
swrbxxx Pillar of the Community Canada 834 Posts	Posted 11/11/2011 11:39 am So my coin dealer is now offering to turn any scrap gold or scrap silver into pure silver and gold bars. Cost is around $150 no matter how little up to 50oz Anyone ever delt with getting their scrap refined? Report this Post to the Staff

poboxw Pillar of the Community Canada 1502 Posts	Posted 11/11/2011 12:43 pm would not be surprised if the coin dealer just trade your scrap PM with premade bars of equivalent weight for the price of $150. I'm no chemist but would not expect the refining process to be so simple as to be affordable to repeat regularly in small amounts. Report this Post to the Staff
Ed_B Pillar of the Community United States 4008 Posts	Posted 11/11/2011 7:34 pm I would think that scrap gold would have a variety of gold percentages in the various pieces that make it up. The final result, if all melted together would also be an unusual percentage. Given that and the fact that gold bars are usually 99.9%, they would either have to refine it further (mostly to remove copper) or trade it to someone who does refine the metal for some that was already refined. Alternatively, it could be segregated as to purity, then they could keep all of the 10k, 14k, 18k, and 24k in separate batches for melting and then reuse as jewelry of that grade of gold. Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 11/12/2011 09:55 am I would not trust a coin dealer to do this, especially as a new service. There are all sorts of ways you can be shorted, up to and including walking off with your PM. Nothing wrong with converting to pure, but you want a reputable, established, bonded refiner to do it. Report this Post to the Staff
ICanSeeYou7687 Valued Member United States 362 Posts	Posted 11/12/2011 09:55 am And does the smelted metal come with some sort of assay? That could really affect tthe resell value. You might get a better deal by using midwest refineries or something similar. You might even get close to soot for your silver/gold on ebay Edited by ICanSeeYou7687 11/12/2011 10:02 am Report this Post to the Staff
biggfredd Rest in Peace United States 9104 Posts	Posted 11/12/2011 10:15 am That's my problem--I've never found a market for soot. Report this Post to the Staff
tokenmast Pillar of the Community United States 648 Posts	Posted 11/12/2011 11:11 am Actually the the market for soot ..Single wall carbon nanotubes was way over gold Quote: Single-walled nanotubes are dropping precipitously in price, from around $1500 per gram as of 2000 to retail prices of around $50 per gram of as-produced 40--60% by weight SWNTs as of March 2010 from " http://en.wikipedia.org/wiki/Carbon_nanotube" I sure missed that market LY Report this Post to the Staff
	Replies: 6 / Views: 1,310

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