Seller Beware!

After seeing an advertisement on gumtree by a mob wanting to buy nuggets I decide that I would look into it further, reading their add it stated that they would pay $43. something for (pure) nuggets, me thinking that by pure they meant clean nuggets? no inclusions.

I phoned them and enquired if they were buying nugget and queried the price per gram, and I was told on the phone $44 per gram, so I decide to take a couple of ounces of clean tiddlers in to them and see what transpired, this is the clincher, after weighing the nuggets the buyer then stated that what they do is spread the nuggets out and then sample the purity of the nuggets with a hand held device to determine the purity, then they pay on that.

So I said to the buyer so you dont actually pay $44 per gram at all do you?, he said yes we do but only on pure nuggets, my reply was the obvious, "there is no such thing as a pure nuggets" only refined gold is pure, well 99.9% or so, he said well no one else has complained about it, and just continued to smirk like he just pumped the neighbors cat, by this time my dander was up and I asked that he not smirk at me unpolitely or else:affraid: my ending comment was that they advertised what they would pay for the nuggets per gram and that the advert is misleading and bordered on what is known as "bait advertising" by which I mean advertising or telling you one thing and then trying to stitch you up when you go in there, and that I will be considering taking the issue up with fair trading.

au-fever

How does the Perth mint determine the value per gram of your gold when you sell it to them?

Rege-PA wrote:How does the Perth mint determine the value per gram of your gold when you sell it to them?

They charge you a fee to refine it, assay to determine gold content, and they pay you on that, same as other refiners like agr mathey etc, but they do advertise the fact that they charge for the refining.

Not advertise one thing and then do another when you turn up to sell it.

au-fever

the mint also pays u for the silver content as well--some gold nuggets have recorded a high of 30% silver.

the refiners usually pay u the gold price on the day of smelter.

regards
oneday

We as Diggers tend to take our gold at spot value and traded among friends as such. Most of the time nuggets of a gram or more are eagerly sought on ebay and the bigger ones frequently go for more, but the smaller fine gold is usually melted into a lump and now the purity comes into question and deducted accordingly. When I sell rings I have found I am paid by the karat value.

au-fever wrote:After seeing an advertisement on gumtree by a mob  wanting to buy nuggets I decide that I would look into it further, reading their add it stated that they would pay $43. something for (pure) nuggets, me thinking that by pure they meant clean nuggets? no inclusions.

I phoned them and enquired if they were buying nugget and queried the price per gram, and I was told on the phone $44 per gram, so I decide to take a couple of ounces of clean tiddlers in to them and see what transpired, this is the clincher, after weighing the nuggets the buyer then stated that what they do is spread the nuggets out and then sample the purity of the nuggets with a hand held device to determine the purity, then they pay on that.

So I said to the buyer so you dont actually pay $44 per gram at all do you?, he said yes we do but only on pure nuggets, my reply was the obvious, "there is no such thing as a pure nuggets" only refined gold is pure, well 99.9% or so, he said well no one else has complained about it, and just continued to smirk like he just pumped the neighbors cat, by this time my dander was up and I asked that he not smirk at me unpolitely or else:affraid: my ending comment was that they advertised what they would pay for the nuggets per gram and that the advert is misleading and bordered on what is known as "bait advertising" by which I mean advertising or telling you one thing and then trying to stitch you up when you go in there, and that I will be considering taking the issue up with fair trading.

au-fever

Hey mate can you send a PM of who you took your gold to.
Cheers
K town.

oneday wrote:the mint also pays u for the silver content as well--some gold nuggets have recorded a high of 30% silver.

the refiners usually pay u the gold price on the day of smelter.

regards
oneday

PW beck also pay you for silver content,
They also send you an airbag fully insured for you to send your gold to them,then you get a choice of gold price on the day that they receive it or after it has been smelted, so the gold price can go up or down in your favour or not that is the gamble you take,
From memory it was around a week or so from the time I posted it to them to the time I received the money deposited into my account

Don't tell us who it is directly, just repost the advert?
I will use my unique powers of elimination to determine who not to sell my nuggets with