Back to Ganoksin | FAQ | Contact

How much do you pay for used gold?

92%, Cash. No receipt :wink:

NTR, changed to Elemetal pays 98%, usually 1/2-1 hour wait time.

UMICORE in Canada charges a $125 (Canadian) refining fee and pays 98% of the assayed / recovered elemental gold. They also pay 90% of the assayed amount of silver contained in the gold.

in Ireland we have lots of cash for gold shops…if there is any there you could find out their prices and work from there…
if i can buy refined assay quality i will be offering less than that.
so somewhere between the two…
but having said that most of the old jewellery here would have a Hallmark.
Joe

For those who are not that knowledgeable about Hallmarks. Here is something I learned; Hallmarks are not stamped in the mfg’ing factory. They have to be sent to an assayers office. Everything must have the karat stamp, where it was stamped. Then another stamp for the year it was stamped. I wish these rules and laws would apply here!
BTW, what I hear is that the “year” stamp changes ever year or two! I stand to be corrected if I’m wrong.
Some years ago there was a local company selling rings so very cheap, how so? He stamped his own rings 14kt. but each ring was 12.5kt.
The gov’t walked in and scanned the tray full of retail rings…woop’s every ring was under-karat!
The retailers around this province were told to stop selling them, immediately! The company went bankrupt just avoid giving the store the difference!
Hallmarks would avoided this problem. My jewellery is always “over-karat”, just in case!.:wink:
Gerry! from my Toronto iPhone!
1-905-886-5961

If you’re buying it off the street as part of your business you really have to do it like Mr. Wade describes. Besides having a profit motive, you’re taking a risk as well as you are supposed to sit on your purchase for as many weeks as the local authorities require before selling. They do that in case the merchandise is stolen, to give the police time to chase it down. By the time you legally can sell it the price may have dropped. It’s a risk that may have an unpredictable cost.

If it’s for a friend or a business to business transaction, then I give them very close to market value. More like the 10% off that Jo described.
Mark