gold percentages and fine weight
 

hello everyone. i'm quite new to the site and in dear need of answers.

i've been dealing with gold for quite a short time and when i'm buying it i use a formular which divides gross weight by the density. i then take the first four figures and subtract 400 then divide the ans buy 15. this is how i get the percentage and then multiply by gross wght to get the fine weight. i'm not sure if this is the way you do it aswell?

e.g gross wght: 23.40g
density: 1.7
ans: 1671
percentage: 84.7%
fine wght : 19.81g

i noted that if you at silver to the gold the percentage drops but the fine weight increases. i usually add a third of the gross weight which is 7.8g. so i don't know is it possible to control the wanted percentage lets say a gold button has a percentage of 95% and i want to increase the fine weight while decreasing the percentage to 80%. is is possible.

you views and thoughts are quite welcome please do assist

Re: gold percentages and fine weight
 

Sorry, can't help you with this. I always sell native gold to a market I developed that pays the most each for course, medium, fine, and flour colors.

Course size (+10-mesh) colors which are also called "nuggets" sell individually according to appearance, size, and weight. They are rare and are highly collectable, thus purity is not significant though most of the gold I find is very high quality: 22-23 Kt. Top dollar is usually obtained from jewelry and "picture" grade nugget.

Medium size colors (-10/+20 mesh) are best marketed to folks who want to melt small amounts. These include people who do inlay work, dentists, dental labs, and artists.

Fine (-20/+40 mesh) and flour ...called "dust" by the old-timers (-40 mesh) colors are best sold putting 1-2 grains in display viles filled with water. These can be consigned to jewelry stores and/or sold at flea markets, antique & collectable, and other type shows.

If sold to a refinery, fine and flour bring less. They are melted and assayed. A good refinery usually charges a fee for "processing" the colors and then pays about 93-94% for the refined gold less the fee amount.

Re: gold percentages and fine weight
 

thanx so much for the post. so i guess its now market differences which is a problem coz here we smelt it and calculate the amount of gold thats what we sell to other individuals not processors.

help

Re: gold percentages and fine weight
 

Thank you for the information. I think we have a different perspective relative to selling. Your's is strictly business and mine is weekend mining as a hobby: fresh air, great exercise, good company; and what I call "the great chase" to locate a rich deposit...and paying for my equipment and expenses.

I live in the eastern US where there's gold to find but not close to the degree that's in the western part of the US, Australia, the Yukon, Alaska, etc.

Re: gold percentages and fine weight
 

yep? for me is business. anyway its good you get a lot of exercise hey from that.

i live in Zimbabwe and buying and selling gold is what i do. there are some rich deposits this side aswell.

Re: gold percentages and fine weight
 

Where in Zimbabwe are you?

Have you seen an interest in gold increase due to the crash of the currency?

Re: gold percentages and fine weight
 

I'm in Bulawayo. yeah i noticed that. how can we really explain it or understand it so that we can cushion or selves?

Re: gold percentages and fine weight
 

Fiat currencies are all about trust in the issuer.

When trust is lost, they spiral out of control, as you are experiencing in Zim. People still need a medium of exchange. After chickens for grain, people tend towards other real stuff like metals, which do not rely on the word of governments. Innately, people know they are more valuable than rocks or sand dollars.

I wish you well.