JonS Posted March 8, 2011 Report Share Posted March 8, 2011 Actually, I used this place ... http://www.midwestrefineries.com/Some gold of mine was lying around (former relationships) and I wanted to fund a little of my macbook pro upgrade this week.It weighed .52oz on my kitchen scale. I got paid out for .456 troy oz at 95% of the market rate of $1412.00 ... or $475 My MacBook i7/SSD and I are quite pleased Quote Link to comment Share on other sites More sharing options...
Casper Posted March 8, 2011 Report Share Posted March 8, 2011 No shit? Hmmm..... Quote Link to comment Share on other sites More sharing options...
JonS Posted March 8, 2011 Author Report Share Posted March 8, 2011 No shit? Hmmm.....I shit you not I tell you ...Called the guy and asked some basic questions ...Sent my junk via insured FedEx ...Next thing I knew ...http://www.youtube.com/watch?v=mBS0OWGUidc Quote Link to comment Share on other sites More sharing options...
ohdaho Posted March 8, 2011 Report Share Posted March 8, 2011 If youve got scrap gold around...this is the time to sell some of it. Quote Link to comment Share on other sites More sharing options...
buildit Posted March 8, 2011 Report Share Posted March 8, 2011 I always wonder if the value of gold is $xxxx, why normal folks only get paid a % of that amount. Kind of like having a gas tanker and only getting paid only $2 a gallon. I wonder if I paid people $95 for $100 bills how many customers I'd have? I mean you know the jeweler isn't selling that ring at market price for it's weight in gold. Quote Link to comment Share on other sites More sharing options...
ohdaho Posted March 8, 2011 Report Share Posted March 8, 2011 I always wonder if the value of gold is $xxxx, why normal folks only get paid a % of that amount. Its a business...not sure whats so hard to understand. Quote Link to comment Share on other sites More sharing options...
buildit Posted March 8, 2011 Report Share Posted March 8, 2011 Its a business...not sure whats so hard to understand.I understand, I just think it's often discussed by gold marketing people as if there is some magical exchange that means the gold you have is worth the market value making gold a secure investment. It's like foreign currency. I don't know of anyplace that will give you 100% of the value of a foreign currency in exchange for us currency. So if you invest you have to keep in mind that there is a 10-15% exchange rate in the purchase and sale. It's not a 1 for 1 deal. Quote Link to comment Share on other sites More sharing options...
Tpoppa Posted March 8, 2011 Report Share Posted March 8, 2011 Quote Link to comment Share on other sites More sharing options...
kawi kid Posted March 8, 2011 Report Share Posted March 8, 2011 My fiance gas plenty of jewelry she don't wear, I might borrow it. Quote Link to comment Share on other sites More sharing options...
The King Posted March 8, 2011 Report Share Posted March 8, 2011 Actually, I used this place ... http://www.midwestrefineries.com/Some gold of mine was lying around (former relationships) and I wanted to fund a little of my macbook pro upgrade this week.It weighed .52oz on my kitchen scale. I got paid out for .456 troy oz at 95% of the market rate of $1412.00 ... or $475 My MacBook i7/SSD and I are quite pleased Dude.....did you sell your class ring? Quote Link to comment Share on other sites More sharing options...
John Posted March 8, 2011 Report Share Posted March 8, 2011 enjoy your overpriced computer! Quote Link to comment Share on other sites More sharing options...
kawi kid Posted March 8, 2011 Report Share Posted March 8, 2011 Lol Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted March 8, 2011 Report Share Posted March 8, 2011 Actually, I used this place ... http://www.midwestrefineries.com/Some gold of mine was lying around (former relationships) and I wanted to fund a little of my macbook pro upgrade this week.It weighed .52oz on my kitchen scale. I got paid out for .456 troy oz at 95% of the market rate of $1412.00 ... or $475 My MacBook i7/SSD and I are quite pleased I might not be a smart man but. 95% of $1412 = $1341$1341 * .456oz = $611.68$475 < $611.68 = $$$$$$$$$ PROFIT Quote Link to comment Share on other sites More sharing options...
ross Posted March 8, 2011 Report Share Posted March 8, 2011 . . . . . .. . . . . . . . . . . ,.-‘”. . . . . . . . . .``~.,. . . . . . . .. . . . . .,.-”. . . . . . . . . . . . . . . . . .“-.,. . . . .. . . . . . ..,/. . . . . . . . . . . . . . . . . . . . . . . ”:,. . . . . . . .. .,?. . . . . . . . . . . . . . . . . . . . . . . . . . .\,. . . . . . . . . /. . . . . . . . . . . . . . . . . . . . . . . . . . . . ,}. . . . . . . . ./. . . . . . . . . . . . . . . . . . . . . . . . . . ,:`^`.}. . . . . . . ./. . . . . . . . . . . . . . . . . . . . . . . . . ,:”. . . ./. . . . . . .?. . . __. . . . . . . . . . . . . . . . . . . . :`. . . ./. . . . . . . /__.(. . .“~-,_. . . . . . . . . . . . . . ,:`. . . .. ./. . . . . . /(_. . ”~,_. . . ..“~,_. . . . . . . . . .,:`. . . . _/. . . .. .{.._$;_. . .”=,_. . . .“-,_. . . ,.-~-,}, .~”; /. .. .}. . .. . .((. . .*~_. . . .”=-._. . .“;,,./`. . /” . . . ./. .. ../. . . .. . .\`~,. . ..“~.,. . . . . . . . . ..`. . .}. . . . . . ../. . . . . .(. ..`=-,,. . . .`. . . . . . . . . . . ..(. . . ;_,,-”. . . . . ../.`~,. . ..`-.. . . . . . . . . . . . . . ..\. . /\. . . . . . \`~.*-,. . . . . . . . . . . . . . . . . ..|,./.....\,__,,_. . . . . }.>-._\. . . . . . . . . . . . . . . . . .|. . . . . . ..`=~-,. .. `=~-,_\_. . . `\,. . . . . . . . . . . . . . . . .\. . . . . . . . . .`=~-,,.\,. . . . . . . . . . . . . . . .\. . . . . . . . . . . . . . . . `:,, . . . . . . . . . . . . . `\. . . . . . ..__. . . . . . . . . . . . . . . . . . .`=-,. . . . . . . . . .,%`>--==``. . . . . . . . . . . . . . . . . . . . _\. . . . . ._,-%. . . ..` Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted March 8, 2011 Report Share Posted March 8, 2011 ASCII facepalm ftmfw Quote Link to comment Share on other sites More sharing options...
JonS Posted March 8, 2011 Author Report Share Posted March 8, 2011 Make no mistake ... they are making their $$$ on this stuff !!! I wish I owned a refinery right about now.@John - My overpriced laptop and I are doing just fine. After student discount and comparing other laptops ... $ for $ my preference is for Apple.@TheKing - Nope, I still have that sucker ... this was other stuff ... Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted March 8, 2011 Report Share Posted March 8, 2011 Make no mistake ... they are making their $$$ on this stuff !!! I wish I owned a refinery right about now.@John - My overpriced laptop and I are doing just fine. After student discount and comparing other laptops ... $ for $ my preference is for Apple.@TheKing - Nope, I still have that sucker ... this was other stuff ...I am not talking about the difference between Market price and the 95% they pay out. Look at their math Quote Link to comment Share on other sites More sharing options...
JonS Posted March 8, 2011 Author Report Share Posted March 8, 2011 I am not talking about the difference between Market price and the 95% they pay out. Look at their mathYeah ... the math here is not a 'zero sum' game. When talking to the guy on the phone they did an 'outright buy' (at the top of the pic) and used a few other industry averages for the pieces I sent. On they phone they told me what the averages were so I knew. Anyone doing this should call on their own.They're working the percentages and making money ... make no mistake ... If you send in more than 3oz of gold they spend more time looking and pricing the pieces. Quote Link to comment Share on other sites More sharing options...
Casper Posted March 8, 2011 Report Share Posted March 8, 2011 I might not be a smart man but. 95% of $1412 = $1341$1341 * .456oz = $611.68$475 < $611.68 = $$$$$$$$$ PROFITI double checked. You're right. Quote Link to comment Share on other sites More sharing options...
shittygsxr Posted March 8, 2011 Report Share Posted March 8, 2011 I double checked. You're right.I already knew I was right, but thanks for checking. Quote Link to comment Share on other sites More sharing options...
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