How do I sell refined gold?

Visit pawnshops in your area. Most pawnshops buy gold based on the weight of the metal. Since refined gold is often in the form of bullion that is intended to be used as a metallic resource anyway, the melt value is a fair price. Take your refined gold to different pawnshops to see what they will offer.

Where do miners sell their gold?

The role of bullion banks. Bullion banks are the middleman of the gold world. Miners produce gold, but they might not produce it at the same time that consumers want to buy the metal. So the banks play a sort of clearing role: when producers want to sell, they can sell to the bank.

Where can I sell extracted gold?

Here are the best places to sell gold for the most money:

1. Cash for Gold USA. Cash for Gold USA is one of the oldest internet-based buyers of gold in the United States.
2. Liberty Gold and Silver.
3. Express Gold Cash.
4. Luriya.
5. SellYourGold.com.
6. Pawn Shops.
7. Local Precious Metals Dealers.
8. Local Jewelers.

How much does it cost to set up a gold refinery?

How much does it cost to open a The Gold and Silver Refinery? The estimated investment required to open a The Gold and Silver Refinery is $25,000. There is an initial fee of $15,000 which grants you the license to run a business under the The Gold and Silver Refinery name.

What is cost of setting up a gold refinery?

Considering an average investment of Rs 30 crore for setting up a one-tonne refinery, this year, the gold refining business is set to see investments worth Rs 900 crore,” he added. Through several years, many gold jewellers have set up their own refineries.

What do gold refineries do?

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.

Can I buy gold directly from the mine?

Luckily for these folks, there is a way to buy gold directly from mines, or even from individual prospectors. The market for gold in raw form is different than that of refined gold or gold coins, so it’s important to understand that this is a different sort of investment.

How much does it cost to refine scrap gold?

With nearly 40 years in the dental scrap refining business, we understand that transparency and accountability are an important factors in doing business….