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| Re: [Orchid] Buying gold coins | ||
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From: Randy Smith (PSS TEXAS) Date: Thu May 02 23:24:05 2002 |
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========[ Invite a Friend - http://www.ganoksin.com/invite.htm ]======== Hi Kevin, I only use gold coins for my work. When making gold links for weaving gold chains (via the Jean Stark method) , you need pure gold to start with, called Four Nines, 99.99%. Normally if you buy gold wire or sheet, there is about a 30% markup for fabrication charges. For every ounce of gold wire/sheet you buy, you pay in the neighborhood of $400 an ounce. It dosent take long for this to mount up. In fact after 20 ounces you could have saved enough to buy one of the best rolling mills available. If the gold isnt 99.99%, when making chains, the fused links will break. Jean Stark let me waste a whole day doing this, a lesson I'll never forget. <smile---thanks Jean>. Anyway, to get to my point, I buy Canadian Maple Leafs, 1 pure ounce of 99.99% gold from a coin dealer in Dallas. Dallas Gold and Silver Exchange. I don't know of anyone who will give you pure gold on a credit card, there isnt much if a markup on pure gold coins, in the neighborhood of 5%, and the credit card charges are just about that. If you are going to be doing quite a bit of business with the dealer, sit down and determine what kind of a constant markup he will give you, then you will always know how much over the spot price of gold you will have to pay. I learned the following from Jean, and still haven't found the reason for the behavior. If the gold is 99.99% pure, when heating it on a charcoal block, after it cools, it will be perfectly shiney and just as it solidifies, it will create a 'hole' in the top. It will 'suck' in on the top and there will be a depression. Don't know why but it has never failed. I do it on every coin I melt just to make sure its pure. -randy ____________________________________________________________________ T h e O r c h i d L i s t Open Electronic Forum for Jewelry Manufacturing Methods and Procedures ____________________________________________________________________ Orchid FAQ: ~ http://www.ganoksin.com/orchid/faq.htm Orchid Archives: ~ http://www.ganoksin.com/orchid/archive Orchid Galleries: ~ http://www.ganoksin.com/orchid/gallery.htm Invite a Friend: ~ http://www.ganoksin.com/invite.htm ____________________________________________________________________ Tips From The Jeweler's Bench - Article Archive ~ http://www.ganoksin.com/borisat/tip_sear.htm The Jeweler's Selected Bibliography List ~ http://www.ganoksin.com/jewelry-books Buy Orchid Jewelry: ~ http://www.ganoksin.com/shop ____________________________________________________________________ -Unsubscribe: -Email: orchid-request AT ganoksin.com Body=unsubscribe subject=blank ____________________________________________________________________ |
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