Gold Buyers

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Gold Buyers

Post  Wombat on Sat Aug 20, 2016 10:47 am

This year we have 2 gold buys for you to choose from. One is Reece who we had last year. Reece is offering this year 90% of spot price X the purity X the weight. He only interested in mainly ingots or melted gold.

The other chap is from Crystal Fractions Tasmania. this is what he is offering.

We would like to attend the gold bash this year as a gold buyer.  We will not be melting nor crushing any nuggets/specimens as we sell to the collector market.  This also helps preserve quality pieces from being lost to the smelter!  We aim to buy nuggets, predominantly over an ounce in size but will consider smaller more bespoke pieces as well as specimens and gold crystals.  As mineral dealers may also consider buying mineral specimens if they suit our client base.
With regards to pricing, we would be looking to pay from 90% of spot up depending on size/quality etc.  This is based on gold weight not purity....  Nuggets will be paid on total weight, specimens on the S.G weight of the gold content.  
We weren’t planning on selling over there as we feel this would be a conflict of interest, but anyone looking to buy international crystalline pieces could certainly purchase through our website.  I am also happy to bring over specific pieces should anyone want to view in the flesh (providing they give me enough notice to pack them before we fly out).  www.crystalfraction.com

So as you can see you can melt down your small gold and sell it to Reece and the bigger nuggets you can sell to Crystal Fractions. Either way you don't loose.
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Re: Gold Buyers

Post  davsgold on Sat Aug 20, 2016 1:27 pm

That is a "Shizenhousen" price compared to last year, Reece was paying 2% over spot price x purity x weight. That's a 12% drop in price. Gold is going up not down. Shocked

Won't be selling any at the bash this year. affraid

cheers dave
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Re: Gold Buyers

Post  Guest on Sat Aug 20, 2016 2:27 pm

Q33 Dave, you took the words right out of my mouth.

Cheers.

Mike.

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Re: Gold Buyers

Post  Wombat on Sat Aug 20, 2016 3:59 pm

Guys last year Reece could do that deal. But now the Government has jumped on all the buyers because there was a loop hole in regards to the GST. This is why all gold buys now are only offering 90 to 95 % of spot price by purity by weight.
You will be going to get a better deal from a dealer right now.
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Re: Gold Buyers

Post  davsgold on Sat Aug 20, 2016 4:09 pm

Wombat wrote:Guys last year Reece could do that deal. But now the Government has jumped on all the buyers because there was a loop hole in regards to the GST. This is why all gold buys now are only offering 90 to 95 % of spot price by purity by weight.
You will be going to get a better deal from a dealer right now.
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I know there are better deals than that right now.

GST had nothing to do with the price last year, he was not offering GST on any of his purchases.

Like I said we won't be selling gold at the bash this year for a price like that.

cheers dave
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Re: Gold Buyers

Post  Wombat on Sat Aug 20, 2016 7:23 pm

davsgold wrote:
Wombat wrote:Guys last year Reece could do that deal. But now the Government has jumped on all the buyers because there was a loop hole in regards to the GST. This is why all gold buys now are only offering 90 to 95 % of spot price by purity by weight.
You will be going to get a better deal from a dealer right now.
wombat Wink

I know there are better deals than that right now.

GST had nothing to do with the price last year, he was not offering GST on any of his purchases.

Like I said we won't be selling gold at the bash this year for a price like that.

cheers dave

Dave  you said
GST had nothing to do with the price last year, he was not offering GST on any of his purchases.
Dave this is what I'm saying, no dealer was. They were all doing the same sort of deals. This is why the ATO got on to them and changed the rules.
I have spoken to 3 dealers now and they are all offering 90% of spot price except one who is offering 95%. Some dealers are only now offering 85% of spot price.
If you can find a better deal please let me know.
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Re: Gold Buyers

Post  Guest on Sat Aug 20, 2016 8:08 pm

Hi all
Well... What can i say...
Except that...
I Will be keeping my gold as an investment V08

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Re: Gold Buyers

Post  davsgold on Sat Aug 20, 2016 8:50 pm

From there website

http://www.goldbuyersmelbourne.com.au/

We Buy Gold at: 24 ct $56.78 per gram

So this should be $56.78 x purity x weight

So if your gold has a purity of 90% you should be getting 90% of $56.78 = $51.10/gram


http://melbournegoldexchange.com.au/

Latest Gold Prices paid per Gram* 24K $57.84 which is even better

cheers dave
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Re: Gold Buyers

Post  searching on Sat Aug 20, 2016 10:32 pm

Davsgold, we sold some to goldbuyersmelbourne a couple of weeks ago. The price advertised for 24ct. Is for jewellery. They were paying 95% of spot x purity x weight for nuggets. If it is small they will probably melt it and then you have some loss for rubbish as well. WA gold will probably be 91 - 92%, so you may be looking at spot less 15% in net return. We got a much better price last year, and we were given information similar to Wombat. We checked with a number of buyers before parting with our gold!
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Re: Gold Buyers

Post  Wombat on Sat Aug 20, 2016 11:00 pm

davsgold wrote:From there website

http://www.goldbuyersmelbourne.com.au/

We Buy Gold at: 24 ct $56.78 per gram

So this should be $56.78 x purity x weight

So if your gold has a purity of 90% you should be getting 90% of $56.78 = $51.10/gram


http://melbournegoldexchange.com.au/

Latest Gold Prices paid per Gram* 24K $57.84 which is even better

cheers dave
Dave you are forgetting by purity as well. Vic gold runs around 94 to 96% pure. You have to take that into account.

Jen even if you keep your gold as an investment. When you finally decide to sell it, you will only get the same deal. Sure the gold price may go up or it may even go down as it was early this year. But at the end of the day the deal will be more than likely the same 90 to 95% of spot price x purity x weight.
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Re: Gold Buyers

Post  Guest on Sat Aug 20, 2016 11:07 pm

Wombat wrote:
Jen even if you keep your gold as an investment. When you finally decide to sell it, you will only get the same deal. Sure the gold price may go up or it may even go down as it was early this year. But at the end of the day the deal will be more than likely the same 90 to 95% of spot price x purity x weight.
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I know Bill..
But its getting harder to find, so i think i will hang on to it for as long as i can..
Which maybe not that long Crying or Very sad
You know what though.. If we have to have it melted down into an ingot, thats more cost to us
( the seller )

Hey are you going to sell any gold?

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Re: Gold Buyers

Post  davsgold on Sat Aug 20, 2016 11:10 pm

Wombat wrote:
davsgold wrote:From there website

http://www.goldbuyersmelbourne.com.au/

We Buy Gold at: 24 ct $56.78 per gram

So this should be $56.78 x purity x weight

So if your gold has a purity of 90% you should be getting 90% of $56.78 = $51.10/gram


http://melbournegoldexchange.com.au/

Latest Gold Prices paid per Gram* 24K $57.84 which is even better

cheers dave
Dave you are forgetting by purity as well. Vic gold runs around 94 to 96% pure. You have to take that into account.

Jen even if you keep your gold as an investment. When you finally decide to sell it, you will only get the same deal. Sure the gold price may go up or it may even go down as it was early this year. But at the end of the day the deal will be more than likely the same 90 to 95% of spot price x purity x weight.
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No I am not forgetting about purity, I have highlighted in RED in my post that you quoted, I realize that there is refining charge when you send gold to Perth Mint, or PW Beck but that comes to around 1% or so not 10% which is what your saying Reece is paying when it is 90% of spot x purity x weight.

Even the poster that sold the other day is saying 95% x purity x weight, which is still way better than 90%

cheers dave
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Re: Gold Buyers

Post  Wombat on Sat Aug 20, 2016 11:11 pm

searching wrote:Davsgold, we sold some to goldbuyersmelbourne a couple of weeks ago. The price advertised for 24ct. Is for jewellery. They were paying 95% of spot x purity x weight for nuggets. If it is small they will probably melt it and then you have some loss for rubbish as well.  WA gold will probably be 91 - 92%, so you may be looking at spot less 15% in net return. We  got a much better price last year, and we were given information  similar to Wombat. We checked with a number of buyers before parting with our gold!
Searching

Searching I spoke to those people, They are offering the same as all the other buyer that I spoke to. So I don't think there is a better deal out there. I also spoke to "The Gold Man" and he to is offering the same deal.
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Re: Gold Buyers

Post  searching on Sun Aug 21, 2016 9:17 am

There is a loss both in weight paid for and price paid.
If you take in 10oz and the purity is 90% you will be paid for 9 oz at 90 (or 95%) of spot gold price,. Previously we would have been paid 100% of spot x 90% purity.
Jen, if you train your detector to only pick up lovely jewellery pieces, there are buyers who will pay spot or a premium over spot for them. Sadly, that is not what we are finding this year.
The buyers in Melbourne do not charge for melting, and do it in front of you on the day.
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Re: Gold Buyers

Post  HOBO'S Gold on Sun Aug 21, 2016 4:11 pm

I'm with you Wombat. Bill has done all the research by ringing around to try get a good deal for us all, you can't go by prices of the internet, 24ct is for 99.99% gold bars or jewellery not for gold nuggets or bars that I pour, Bill has done this on his own time, good onya Bill T06
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Re: Gold Buyers

Post  Guest on Sun Aug 21, 2016 8:39 pm

HOBO'S Gold wrote:I'm with you Wombat. Bill has done all the research by ringing around to try get a good deal for us all, you can't go by prices of the internet, 24ct is for 99.99% gold bars or jewellery  not for gold nuggets or bars that I pour, Bill has done this on his own time, good onya Bill T06


G'day Johnny,

No ones having a go at Bill, but we are very disappointed in the price that is being offered for our hard earned Gold.    Evil or Very Mad    Sorry Bill if you took it the wrong way.  
I hope the low price doesn't affect your Melt and pour sessions either.    lol!

Cheers.

Mike.

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Re: Gold Buyers

Post  Wombat on Sat Aug 27, 2016 8:13 am

OK everyone
an up date about Reece our gold buyer for the Bash. I spoke to him a couple of days ago and he is now offering 95% of spot price X purity X weight. This is 5% more than what I put up earlier in this topic. This price is what all gold buyers are offering at the moment that I spoke to.
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Re: Gold Buyers

Post  davsgold on Sat Aug 27, 2016 9:55 am

Thanks Bill, that is a considerably better offer, thanks for taking the time and effort to re negotiate a better deal.

cheers dave
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Re: Gold Buyers

Post  Guest on Sat Aug 27, 2016 11:07 am

Wombat wrote:OK everyone
an up date about Reece our gold buyer for the Bash. I spoke to him a couple of days ago and he is now offering 95% of spot price X purity X weight. This is 5% more than what I put up earlier in this topic. This price is what all gold buyers are offering at the moment that I spoke to.
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Hi Bill
Well done
T01  for going that extra bit!  to look out for all us prospectors Q38
Hopefully there will be a few on the day wanting to sell some of their hard earned gold  Twisted Evil

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hobby prospector seeks to buy a nugget

Post  Tassie on Mon Sep 26, 2016 6:38 pm

Hi there

I do not want to tread on the toes of the professionals, but I will be at Laanecoorie and would like to purchase a single reasonable size nugget for own keeping. Send a note to graeme369@yahoo.com if a person has one and wishes to chat.

Best wishes to all


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