Best place to sell Gold in NSW

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Post  dave01 on Fri Aug 30, 2019 12:12 pm

Hi everyone, With the high price of gold at the moment I was looking at selling my collection of small nuggets I have found over the last 10 years.
I have almost 20 ozs in total, all under the 2gram mark. I am going to smelt it into small bars, should be approx 95% pure gold. I am interested in hearing peoples experience with gold buyers, either good or bad.
Cheers Dave,

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Post  deutran on Fri Aug 30, 2019 1:29 pm

Hi Dave.
Whilst the price has risen quite recently it will probably rise more due to the impending threat of recession.I would be inclined to just sell small parcels of say 2-3oz.You can get a good price from the gold buyers in capital cities if you shop around or at laanecoorie gold bash etc and transactions of over $10000 are generally re portable for them.You could always melt the 20oz into half a dozen ingots.Most of the buyers would be happy to do this if you say sold the first to them.I,ve found if the nuggets are reasonably clean you won't loose any weight and the purity is usually 93.5-96%.You should expect approx $59.90/gram at the moment.
Steve
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Post  dave01 on Fri Aug 30, 2019 1:55 pm

Thanks for the reply Steve, I was thinking that if I sold a large amount of Gold I should be able to get a better price, for example if the gold comes in at 95% pure, current spot price is $73 per gram x95% = 69.35, than I should be able to get 95% value from buyer which comes to $65.88 per gram. Trying to find out which gold buyers have a good reputation from people who have sold some gold recently.
Cheers Dave,

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Post  Jen on Fri Aug 30, 2019 2:23 pm

Hi Dave01

Here’s a link to a gold buyer.
I haven’t heard any bad reports about them.

https://grappysgoldbuyers.com.au/

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Post  davsgold on Fri Aug 30, 2019 2:51 pm

dave01 wrote:Thanks for the reply Steve, I was thinking that if I sold a large amount of Gold I should be able to get a better price, for example if the gold comes in at 95% pure, current spot price is $73 per gram x95% = 69.35, than I should be able to get 95% value from buyer which comes to $65.88 per gram. Trying to find out which gold buyers have a good reputation from people who have sold some gold recently.
Cheers Dave,

Good luck with that, I don't know of any gold buyer that is going to buy at that price as there is no profit margin for them at that price, and most are not going to wait holding the gold and see if the price goes up Very Happy

Like deutran says $59.90 is a good price Very Happy

cheers dave
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Post  dave01 on Fri Aug 30, 2019 2:56 pm

Thanks Jen I will check them out, Dave,

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Post  davsgold on Fri Aug 30, 2019 2:57 pm

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Post  dave01 on Fri Aug 30, 2019 3:08 pm

Hi Davsgold, yes I checked out pwbeck, the problem I have is that I'm not very keen to send gold via couriers, I know that they have insurance, I'm just not comfortable with sending gold prefer to do it face to face,
Regards Dave

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Post  piston broke on Fri Aug 30, 2019 7:42 pm

I'm not sure I would melt the gold into bars. I would sell the lot to PW Beck as is. Just my thoughts Very Happy Well done on finding all that gold . cheers Pete.
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Post  Travelergold on Sat Aug 31, 2019 10:58 am

Agree with above posts. P W Beck is very good to deal with, gold price payed. And silver content too. We have used regularly but gone in face to face as they are only around the corner. You can sell it all or keep ingots if you only want to sell a portion. I have never heard of any problem with there couriers either.

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Post  dave01 on Sat Aug 31, 2019 4:04 pm

Thanks Pete, Travelergold,
Might try my luck up in Sydney, see who can do the best deal for me,
Regards Dave,

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Post  Minermike on Sat Aug 31, 2019 4:31 pm

For ease  of mined , I would use Beck , covered by insurance  .

I don't think you will get a good deal in Sydney . They all want to make a good profit out of you .......
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Post  Travelergold on Sun Sep 01, 2019 10:04 am

Agree with minermike, they will make profit, 10 to 15%. Then sell straight to the likes of becks.
Becks insurance will cover you. They have 110% reputation to uphold.

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