Gold Buyers Australia - Retail Shops - Beware

Took some gold to wagga to a mob called money for gold set up in a shopping mall, nuggets and fine gold.they offered me $15 per gram,they said they also buy old jewellery no question asked,I said see you later di-- head.If I was a junky and needed to off load the family jewels it would be the place to do it.
cheers Dave

I spoke to one of those people... they do buy nuggets and they do a nitric acid test to determine the approximate carat. They'll even buy fine alluvial gold that has been sluiced. But as they admitted to me, they won't quote you unless you are there at the stall in person.. and they buy at a vastly reduced rate that is in their favor.

But that's how business works I guess. Anyone buying goods wants to do it for their own benefit, not yours. And yes, I've seen some prospectors sell their gold to these people simply because they didn't know anywhere else to sell it.

Cheers,

Marco

We have the same "rip off" merchants in all the shopping centres over here in the West offering $15.00/g for nuggets.
Unfortunately some fall for it, I have felt like telling anyone at these stalls that the Perth mint will buy your nugs for $35.00/g.

Peter

Gday


There was a thread on this subject some time back, and I seem to recall there was also some mob doing home type jewellery parties as well, what they would do is weigh up the jewellery that the person wanted to get rid of and then give them the credit to buy jewellery from them, of course the catch was that the jewellery that people were trading in was often a lot more valuable and containing more gold, particularly old style and antique pieces that would be worth a lot more to a collector.

The modern jewellery that they bought was more cheaply made but sold at inflated prices, the people that do the shopping centres are as bad a say cash converters who I remember at one time I had a ring valued and they wanted to pay something like $5 a gram for it.

I suppose if I were a druggie or I had stolen it form someone I would just take whatever I could get for it to unload it and get a fix, its no accident that these places have sprung up in shopping centres, its the most frequented place by all types of people, so they can pay what they like and get away with it.

The last time I spoke to the Perth mint they were not buying nuggets, that was a few months ago, so maybe they have started to buy again.

cheers

stayyerAU

I was in at the Perth Mint before Xmas looking at their nugget collection and was told by one of them that they would buy
any suitable nuggets between 3 and 30gms at gold price less 8%.I never did the sums to work out how this compares
with selling it all to AGR. There is one of those gold buying stalls in the Joondalup shopping centre offering between 13 and $15 per grm.
Cheers Greg.

That business was started last year and opened 75 stalls within 6 months of operation. The article in the Australian Jewellers magazine said they were planning to have 300 stalls by the end of this year. They are supposed to be second hand dealers who buy only and don't loan. This sux because the items never go on display and mrs joe blow doesn't get the chance to ID her stolen items.

Dicko..

"GOLD BUYERS AUSTRALIA" has set up a stall in Centro-Hervey Bay. When I pressed them on a price for nugget gold, they became very evasive. They appeared to only want to talk to "little old ladies".

Roger

Thats not a bad price for nuggets $15 I hope they come to the Werribee Plaze I will give them two type to pick from Chick/nuggets and the Brown one's for $15

and they say the Gold Shop in ballarat is bad.

2GB in Sydney have just been running Gold Buying adds on the radio this morning......... ACBEN (a chain of hock shops) will buy your gold .....hahaha I bet the price will be good.....not

Hi Detrak,

What is Cordell's buying price?

I was speaking to someone today who's seen his private collection. Very impressive apparently.

Robert

NEW EXPERIENCE: Two new chums I spoke to today claimed one of these Gold buyers in the shopping centers told them that "all gold in Australia is around 9 carat". Sounds like someone is out to get top dollar.

Cheers,

Marco

Good day All.
I took a couple of the wifes cheeper 9 carrot jewelry in & they said she was lucky as the price was up they said $7. per gramme. offered her $70. for a bracelet that was on special for $400.
Cheers greg

Any one heard of Gold Buyers Australia? are they reputable? Apparantly they are in shopping centres.

basically no...rip off merchants preying on grannies hierlooms and stollen jewellery

check this thread...

https://golddetecting.forumotion.net/general-discussion-f1/money-for-gold-t1530.htm

Good day All'
I would steer clear of them, I was in a Townsville shopping centre yesterday & I asked the gold prices & this kid told me he is not allowed to reveal prices & told him I had gold to sell ( I lied ) & he asked me if the nuggets were 9carret or 14 carret & I told him I didn't know & he asssured me if they were north Qld. nuggets they were of poor quality & were most likely 9 carret, I told the missus that is why you don't sell to those idiots.
Cheers Greg

Do not bother approaching any of the supermarket gold buyers. They pay on average $450 per troy ounce (31.1 grams) for gold nuggets. Word is slowly spreading among the general public how much of a rip off they are. However if you have a few bits of unwanted gold jewellery to sell i can see the attraction and convenience.

If you want to sell your specimens and solid nuggets (that are not of outstanding shape, beauty or size), I recommend calling Becks or one of the reputable gold buyers for a quote. Becks charge about $120 for the smelting/assay costs and pay a little below the daily gold price (about $50 less per ounce?). The smelting cost is fixed regardless of how much gold you send. So it is not much of a cost if you have say 3 or more ounces to sell.

They also charge you $40 for the courier pickup of your gold package. Each package is insured for up to $10,000. So if you have a big parcel of gold to sell you will need to split it into separate 10 ounce parcels for the courier with a $40 cost per parcel.

When you guess the amount of money you may receive back remember that on average about 6-12% of the weight of solid nuggets you send will be lost because its silver or non gold minerals). You do get a few bucks back for the silver value. There are some localities in all states where the silver content of the nuggets you detect can be over 20%. Sunny Corner in NSW is notorious with silver content over 25 %...Those nuggets are best sold on ebay.

Tributer

Great reply there Tributer. I'm sure that's some very useful information to members who were thinking about selling their gold or having it reduced by smelting. Great stuff!!

Cheers,

Marco

I prefer to sell online, there are lot more site available to purchase and sell online. There is a site which can even provide you calculator to calculate your gold, silver and etc metal.

Sent my daughter into the stall set up in the local shopping centre today with 3oz of HillEnd nuggets and sat back and watched.

She told the guy her father had passed away and she found them in a box while cleaning out his house and she had no idea if they were real or if they were worth anything. He weighed them, -2.5oz and said they were reasonably poor quality and the best he could do was $450.00 and that was stretching it!

These blokes are nothing more than crooks!

G'day fellow prospectors.

Tuna you've hit the nail on the head.You're being to kind by using the word "Crooks" There's a better word to describe these scrupulous gold buying dealers "KERNIVING SCOUNDRELS"

Cheers kon61

great post Tributer and correct me if im wrong but gold that is only 75% is called electrum

A couple of days ago I went to one of these " Gold Buyers Australia" places at my local shopping centres and ask them what would they give me per gm for solid gold nugget found up in the golden triangle. They said it would be about $17.50 per gm , but the nuggets would have to be sent away for assay for purity before they could give me a propper price. They were saying that they too have had people melt down 18 & 9 gt gold to look like nugget and trying to parm them of as pure nuggets. (Just as we see some times on E-bay.) But I just told them I can get between $30 & $35 per gm on E-bay and that they were ripping people off. But as she said it was designed really for people to get rid of their old, broken and un-wanted gold jewllery and at least to get something for it. For this reason there may be a market for this type of business.

Wombat

you would have to be crazy to sell unrefined gold to these people --

I wouldn't sell it to them, just curiouse to know what they would give me if I did
Wombat

I sold a .3 gm nugget for $93.00 dollars on ebay recently and I also start my gold price at spot price plus all the fees ebay and paypal deduct. To date all the gold I have sold is averaging at $1600.00+ per ounce. If no one bids, too bad , don't sell yourself short its hard work and too bloody valuable. Nuggets are rarer than diamonds.

Someone insulted me by saying that I was a shark because a .3 gm nugget was bid up to and sold for $93.00, excuse me sir, I did not go out and twist that persons arm to bid that high. the choice was entirely their own, and considering The opening bid was $15.00 I believe there has to be more than one bidder for it to get that high, as a matter of fact there were 10 bidders for that nugget, and as a matter of interest , I sold a .5 gm nugget to day, the initial bit was $37.00 , it finally sold for $52.00 and there were six bidders. I am not a shark sir , there is a difference between a sale and an auction. Its the bidders choice and the seller is not in control.

get over yourself! read it again!

I came across this thread and could not resist posting, I share the same frustration with you all especially when I hear the stories of people selling their gold at 40% of its value. Its a shame some people don't spend the extra few minutes to do some research online to see what their gold is truly worth. If more people were educated on their gold these thieves wouldn't exist! I run a small gold buying business myself and I pay my customers, at the moment 97% spot price. Not all of us are crooks or thieves! It actually feels good walking away knowing you gave someone a good deal and I know my customers feel the same way as well!

G'day Cash for Gold

I'd be interested to hear if you pay 97% of spot price for native gold nuggets, plenty of native gold nuggets will assay at 95% or there abouts, but they have no hallmarks or other numbers like most old and broken gold jewellery.

Hi Dav's

Then you would get 97% of 95% after it being tested in the density machine.

IE $1350 x 95% x97% = $1244

Hope this helps.