TREATING GOLD AS AN INVESTMENT
This post is for those who purchase resale jewelry from the general public. It has been our experience that many cash in their gold and jewelry to buyers quickly, often because of a cash flow issue or just because that is the way they have always done it.
Below are three scenarios, which one would you choose? After you pick, sign up for one of our “we buy gold” decals for your store window.
Scenario One
Local gold buyer stops by the store and offers to take your jewelry scrap and will pay you top dollar on the spot.
Scenario Two
Precious metals refiner advertises a fire assay stating that you can watch your melt and assay and get paid same day.
Scenario Three
Precious metals refiner offers a true fire assay, send your material in and it will take five days.
Which one is the best investment?
Scenario One
Seems like a great deal, doesn’t it? If you chose his one, you just paid a hefty premium for convenience.The payout was on an estimate of the value of the jewelry not what it is really worth.
Scenario Two
It is a fact that a true fire refining assay cannot be performed in a day. Because of the various processes a true fire assay entails, this is impossible. What you are really witnessing is merely a melt and Xray. Which has been proven to be 20 times less accurate than a true fire assay. Again, you are being paid on just an estimate of the real worth of your material- think of the time you spent waiting for the inaccurate findings. In addition, if you drove there, you risked theft and loss of materials.
Scenario Three
Per the World Gold Council (the leading authority on all things gold), “Fire Assay remains the most accurate technique for gold assay and serves as the standard technique against which all others are compared. ‘ By using a refiner that performs a true fire assay, you are ensuring you will recieve the most accurate return. In addition, if you specify you will be paid on ALL precious metals in your lot, not just the gold.
But what if your shipment is lost? Arrives at the refiner damaged? or maybe you really just don’t like shipping your material?
Ask your refiner about free containers, shipping and insurance. Pease & Curren provides all three.
We invite you to listen to what one of customers has to say about us..
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