A question about Gold pins and scrap

Probably going to need a lot more to get some real money.

Originally Posted by Mechanic688

Probably going to need a lot more to get some real money.

On that note, what's a ballpark amout, in weight, one would need of pins such as those pictured to garner any interest from a toll refiner?

Originally Posted by auminer

On that note, what's a ballpark amount, in weight, one would need of pins such as those pictured to garner any interest from a toll refiner?

Looks like they sell pretty well at a lb. maybe little less.
This ones going good;



http://www.ebay.com/itm/Computer-scr...item43b72dcda7

Originally Posted by Mechanic688

Looks like they sell pretty well at a lb. maybe little less.
This ones going good;



Computer Scrap Pins Connectors for Gold Recovery 1 lb 454grams | eBay

I'm actually looking to cut out as many middlemen as possible & deal directly with the refiner. Any idea what sorta weight one needs to be carrying to make THAT happen?

Oh, and don't toss that penny....it looks to be a pre-1982.

Originally Posted by auminer

I'm actually looking to cut out as many middlemen as possible & deal directly with the refiner. Any idea what sorta weight one needs to be carrying to make THAT happen?

Oh, and don't toss that penny....it looks to be a pre-1982.

Likely several hundred to several thousand pounds depending on material and PM content.

Originally Posted by auminer;121405[B

]I'm actually looking to cut out as many middlemen as possible & deal directly with the refiner.[/B] Any idea what sorta weight one needs to be carrying to make THAT happen?

Oh, and don't toss that penny....it looks to be a pre-1982.

Check out the GRF (gold refining forum) and there is quite a few small refiners that work on percentages and will do your stuff for you. You have to get to know those people tho,,,
Gold Refining Forum.com • Index page

Originally Posted by auminer

On that note, what's a ballpark amout, in weight, one would need of pins such as those pictured to garner any interest from a toll refiner?

I am going to throw out some numbers here just to put the whole toll refining thing into perspective...

First, toll refiners generally ask between 10%-20% if the lot is large enough to cover costs and make a profit.

Depending on the way the toll refiner recovers then refines, the cost can go up or down, for example if a toll refiner was using nitric acid to dissolve the copper in a lb of pins, it's going to cost them 7 times as much to dissolve copper, as it would to dissolve silver. So it's 7 times more to dissolve the copper this way, this is called recovering because at this point you are not refining any precious metals, but rather recovering them from material. If the toll refiner used the AP method, the cost involved is very low, but takes a lot more time.

Where I live, for a small refiner to purchase Nitric Acid, it costs about $250 for 6 750 ml bottled of Nitric Acid. It's expensive unless you are buying by 55 gallon drums.

So a lb of pins that will bear, depending on the type of pins, 1-2 grams of gold is not going to cut it for the toll refiner. You are talking about a total value of about $100, or if they are military grade pins and bear 4 grams per lb, you are only talking about $200. Take 10% of the best yield on 1 lb, and you come up with $20.

So realistically, if it takes a day to process that 1 lb of pins, the refiner isn't making hardly anything at all. The cost of electricity, acids, time, etc. If they did 10 lbs of pins, at 2 grams per lb yield, that would be right around $1,000 and the 10% fee around $100. For a days work that isn't so bad, however if it was for just 8 hours you are talking about paying your refiner, who is dealing with all these nasty acids and dangerous gases about $12.50 per hour.

It is true that a good toll refiner can run several lots side by side, and if they are fire assaying, and paying out on that assay, then they can process all the different toll refining lots together to save money, but not many toll refiners work that way.

So depending on the toll refiners recovery, and refining methods, they should charge more or less of a percentage, but also depending on your lot size. If you bring a lb of pins to a refiner, expect him to tell you they want 50% of the yield, if you bring them 10 lbs of material, then 10% is probably more fair.

Also, keep this in mind. The reason why there are some toll refiners that will be dishonest is because the percentage is so low they can't recover their own costs, they feel entitled to more than they agreed upon and instead of saying something to the person that owns the material, they take instead. The reason I am posting this is in the hopes that people who have someone toll refine for them, will consider these things when negotiating a percentage for toll refining. If you get this out in the open, and deal with the refiner fairly, they most likely will not steal anything off the top, and work with you honestly.

Rule of thumb is, the more material the less the percentage the happier everyone is.

Scott

Originally Posted by NobleMetalWorks

Also, keep this in mind. The reason why there are some toll refiners that will be dishonest is because the percentage is so low they can't recover their own costs, they feel entitled to more than they agreed upon and instead of saying something to the person that owns the material, they take instead.

Scott

exactly, that is why id like to have the money upfront