Question: Better Gold Pricing?
- Thread starter Brian
- Start date
JIA
Elite Cafe Member
your saying its a 18GRAMS of a 24KT wire ????
the ounce is 31 grams gold price is 1100
i dont know
the ounce is 31 grams gold price is 1100
i dont know
jerrywh
~ Elite 1000 Member ~
Your missing the spot price of $1148.00 pr oz. troy. That is $2.39 pr grain. plus milling fee. Yuo do not specify the size of wire.
JIA
Elite Cafe Member
how much it weight?
BrianPowley
~ Elite 1000 Member ~
Brian, in February, I bought 6 ft. of 24k fine gold wire .020 " diameter from Hoover & Strong.
Price: $272.67 ----that works out to $45.45/ foot
The weight was 4.590 DW (pennyweight)
Price: $272.67 ----that works out to $45.45/ foot
The weight was 4.590 DW (pennyweight)
maplesm
Elite Cafe Member
18 ga fine gold is 3.11 dwts/ft
Rio Grand todays price is $65/dwt
1 ft of 18ga fine gold aprox $202
Rio Grand todays price is $65/dwt
1 ft of 18ga fine gold aprox $202
Kevin Scott
Elite Cafe Member
Cost of gold wire
Rio Grande''s price seems to be about $30 a foot higher than what a volume scrap gold dealer would pay. Seems to me Rio Grand's price is pretty good. By making your own wire you could save 10%. Kevin Scott
Rio Grande''s price seems to be about $30 a foot higher than what a volume scrap gold dealer would pay. Seems to me Rio Grand's price is pretty good. By making your own wire you could save 10%. Kevin Scott
In the past I've purchased casting grain to make my wire from, but it's labor intensive.
Brian I am a goldsmith and frequently buy gold.
First you need to post weight in either dwts or troy oz and quality 22K, 18K, 14K whatever; that the common language.
There is a milling fee it varies casting grain is least, then in no particular order round wire (all gages the same, unless you want something not normally milled, etc.
If you want round get round. What is helpful is a draw plate with carbide inserts. Say if you got 18 gage (B & S, that is) you can draw it down to whatever you require.
Finally ask for price/dwt for 24K round wire if that's what you want so you have a standard. Rio would probably be higher than some others. Quantity ordered also effects the price. The major refiners do not all charge the same.
I hope some of this is helpful. If you have specific questions, ask.
Kevin P.
First you need to post weight in either dwts or troy oz and quality 22K, 18K, 14K whatever; that the common language.
There is a milling fee it varies casting grain is least, then in no particular order round wire (all gages the same, unless you want something not normally milled, etc.
If you want round get round. What is helpful is a draw plate with carbide inserts. Say if you got 18 gage (B & S, that is) you can draw it down to whatever you require.
Finally ask for price/dwt for 24K round wire if that's what you want so you have a standard. Rio would probably be higher than some others. Quantity ordered also effects the price. The major refiners do not all charge the same.
I hope some of this is helpful. If you have specific questions, ask.
Kevin P.
jerrywh
~ Elite 1000 Member ~
Thanks, everyone!
Making and rolling might not be for me right now. It looks like I will be buying gold wire ready made...I was told the price was in penny weights. With the price of gold-the price I was provided seems to be a lot. Everything I'm hearing on the forum the price is about right give or take.
Thank you!!
Brian k
Making and rolling might not be for me right now. It looks like I will be buying gold wire ready made...I was told the price was in penny weights. With the price of gold-the price I was provided seems to be a lot. Everything I'm hearing on the forum the price is about right give or take.
Thank you!!
Brian k
Mike Cirelli
~ Elite 1000 Member ~
If you’re looking for cheap gold good luck. Usually 24k wire and sheet is not much over spot. If you’re charging the same price for inlays as when gold was $400 or $500 you are taking a beating. Gold is really a precious metal the past few years. What Sam suggested is time consuming and you need a rolling mill and draw plates, but it is convenient and saves some money.
diandwill
Elite Cafe Member
One thing that sometimes can be done is to ask Dentists if they have any pure gold that they are willing to sell. They often buy gold, and sell it at a loss and take the loss as a write off. Many coin shops buy at a discount from dentists and sell at a few dollars over spot, making extra money that way. It can't hurt to call and ask.
Will
Will
Arnaud Van Tilburgh
~ Elite 1000 Member ~
Yes Mike, it saves some money. And also you can melt the small pieces gold together and make new wire or plate when one have a mill and draw plates.
arnaud
mitch
~ Elite 1000 Member ~
- Joined
- Jul 23, 2007
- Messages
- 2,636
i'm gonna chime in here just to brag. about 25 yrs ago i was asked to engrave two rifles that were supposed to be part of a series of a couple dozen(?) when the whole project was completed. the coordinator asked me how much 24k gold wire i'd need for these two jobs. i gave him an honest, conservative estimate (wanting to stay in his good graces for future work) and he said he'd take care of it. about a week later a box shows up from Swest. let's just say i have not bought gold wire since (and i use a LOT) and i'm maybe two thirds of the way thru it. when this overly ambitious, grandiose project folded shortly thereafter, i called the guy and asked what he wanted me to do with the extra? "Eh, just keep it."
silverchip
~ Elite 1000 Member ~
I remember when I took John B's engraving class way back when and learned to draw my own wire.At that time his suggestion was to charge 10.00 per inch of inlaid wire.I wonder what it would be now that gold is over $1000.00 oz????
"ask Dentists if they have any pure gold that they are willing to sell. They often buy gold, and sell it at a loss and take the loss as a write off."
I'd love to hear the rationale behind that.
There are buyers who visit dentist offices on a regular basis and buy the dentist scrap gold. Paying in cash.
Kevin P.
I'd love to hear the rationale behind that.
There are buyers who visit dentist offices on a regular basis and buy the dentist scrap gold. Paying in cash.
Kevin P.
jerrywh
~ Elite 1000 Member ~
I don't think dentists use pure gold. It's too soft for anything they do. Am I wrong ? I have two customers tha tare dentists. Neither of them do.
help
You guys are killing me.:beat up: So much info I'm getting lost. I will try everything suggested, but I think ill stick with watching the gold price and buy wire when i can get a lower price, if it goes lower.
Q
I have some old 14k gold that I'd like to get rid of, would any of the companies do sort of a price brake/trade for old gold for wire? Has anyone tried that?)
Doing the roller mill seems great, but a lot of work. I don't know how many of you have the time to engrave when you have to do so much when it comes to gold/silver etc.
I can't thank all of you enough for the info!!!!!:banana:
Thank you!!!!
Brian k
You guys are killing me.:beat up: So much info I'm getting lost. I will try everything suggested, but I think ill stick with watching the gold price and buy wire when i can get a lower price, if it goes lower.
Q
I have some old 14k gold that I'd like to get rid of, would any of the companies do sort of a price brake/trade for old gold for wire? Has anyone tried that?)Doing the roller mill seems great, but a lot of work. I don't know how many of you have the time to engrave when you have to do so much when it comes to gold/silver etc.
I can't thank all of you enough for the info!!!!!:banana:
Thank you!!!!
Brian k
Sponsors
