Hi I am searching for a good gold supplier that will not rip me off.
I have been purchasing gold from a high priced place to pour into my
molds. I need a place that is more down to earth anyone with
suggestions? Very much appreciated.
Leslie
Hoover and Strong
Daniel R. Spirer, G.G.
If you buy a 24kt gold coin and alloy it yourself, it goes like
this, $665 current price of gold, 3% mark up on a coin from a coin
dealer=$684.95. Divide $684.95 by 24== $28.54 times 14 if you are
making 14kt, gives you $399.55 or $12.84 per gram. Todays price on
14kt from Stuller, who I do not think rips people off, charges
$14.13 per gram if you buy one ounce.
Stullers price $14.13 minus what you can alloy it for $12.84 you
save $1.29 per gram or $40.12 per ounce, plus any shipping charges.
Of course you have to buy alloy and pay for the shipping on that.
Richard Hart
I would try United Precious Metals- 1-800-999-fine. I have been
using them forever and have been very happy with their refining and
gold products. No connection, just a very satisfied customer for 20
years.
I do not recall where I saw this, I believe it may have been on a
faceting list. You can buy cold coins very nearly 100%, kugerand, and
Canadian. These will sell for whatever the price of gold is on that
day. It is possible to then alloy your own. This may help.
http://www.apecs.com.au/alloyinginsmal
Leslie, we buy all our gold from Afex (afex.com). Another is Kitco
(.com) - we use their chart for our daily fix, btw. Any bullion
supplier… AFEX is American Foreign Exchange - they are currency
and commodities brokers, not really jewelry at all. We buy shot at
something like +2%, and if they’re out we get ingots for about the
same, and then we alloy ourselves. I don’t even pay attention - I
think the alloys we use are like $5/oz or something. I Make my own
18kt. alloy, though. It’s about as cheap as you can expect without
getting into scrap dealing…
Hoover and Strong. lovely company. old fashioned service. . people
not answering machines or computer -bot menus, and they make things
right on the odd chance something goes wrong. way cheaper than Rio,
or most middlemen, and many many variants of their standard lines to
chose from. If you want something out-of-standard, they will make it
for you. This company prides themselves on generations of men into
metallurgical advances. not profiteering, though their prices are
competitive with the daily fix.
I also forgot, I use Kitco when I can’t get through to Hoover…they
charge even less than Hoover and strong, and are primarily a bullion
dealer - though they carry a “jewelry line”. Kitco has nice gold
leasing program too if you are into investing and currency exchange-
then you can easily increase your stock, although you don’t
physically hold it…you draw from yor account…and if you know a bit
about currency exchange, you can actually add gold to your account
weekly by a few simple transactions from US into other currencies
then buy in the currency you hold that yields the most gold given
the daily fix…you just have to keep on top of the market and
actually watch the spot quotes twice a day London and NY or China
market’s close). Another boon to dealing with Kitco is the lack of
petty charges for fabrication that ae gotten by the large middle men
like Rio…as if cutting a piece of metal was a fabrication charge
that is merited…one has to cut metal to sell metal -to pay for it to
be cut is absurd ( unless you want a special cut of a half inch of
something- then they should just call it a hassle charge!)…and one
of the reasons to deal with Kitco…and keep Hoover and Strong as
your default! there is a reason most jewelers supply’s go with Hoover
and Strong’s solders, and other products…
I just want to say thank you to all who have answered my plea as to
where to get gold from. I cannot tell you the high prices that one
place has been charging me. Would you believe $769.00 per 1/2 ounce.
I thank you, and thank you again. You have saved my pocket many
dollars.
Leslie