[Jewelry making - Article 00262] - Re: [Orchid] Sharing scrap gold buying prices

[Mark Shneyer]

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>     How often do we actually send in the scrap (I only refine once a
>     year so if I base my payout prices on what gold is today and it
>     drops significantly by the time I send it in how much have I lost)

    If you are buying scrap gold and only refining it once per year you
    are asking for trouble or not buying quantity. I saw it in the early
    80's when gold was thought to have no ceiling. Many people held it 
way
    too long and lost a lot of money. Gold went down under 300 after that
    and only now is up again. Same thing happened with silver back then. 

    I buy scrap to make money and remelt for sizing stock and such. A
    nice piece I will pay more for if it can be refinished and I think I
    can sell it as an estate piece. In doing so I pay as high as I can 
and
    still have a comfortable cushion. (Fair to me and fair to the
    customer) Sometimes even nicer pieces will be scraped though. Simple
    economics. $ out vs. $ in. 

Mark
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