Posted: 3/31/2009 6:16:03 AM EDT
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I've got a ziplock bag full of gold. It's all 14-24k stuff. Mostly necklaces and rings.
Should I melt it down into an ingot? I've done lead ingots before. Is there anything special I'd need to do with gold? |
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It would be worth less as an ingot, probably.
I am pretty sure gold has a lot higher melting temp than lead, but other than that, if you just are interested in making yourself an ingot, I dont think there is anything special you need to know. I toyed with the idea of making my own silver bars a while back, but never actually did it. |
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I'm not interested in selling it. Not now anyway. I have a hard time believing gold that doesn't have a karat weight scrawled into it automatically becomes worthless. Would you buy a 1-oz ingot of gold that someone melted down from God knows what? And if so, how much would you feel comfortable paying for it? |
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Ferfal, our resident expert in economic meltdown, said that buying and selling jewelry is far better than coins or bullion. Reason being, it is common and can be traded in smaller amounts.
There is absolutely no reason for you to smelt it. If you do, it will be valued 14k at best. |
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I've got a ziplock bag full of gold. It's all 14-24k stuff. Mostly necklaces and rings. Should I melt it down into an ingot? I've done lead ingots before. Is there anything special I'd need to do with gold? Get it about 300% hotter than lead, and it'll melt just fine. |
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I'm not interested in selling it. Not now anyway. I have a hard time believing gold that doesn't have a karat weight scrawled into it automatically becomes worthless. He did not say it would be worthless, he said it would be worth less. As in worth a lesser amount of money than in the form it is in. Quoted:
It would be worth less as an ingot, probably. |
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Quoted: I'm not interested in selling it. Not now anyway. I have a hard time believing gold that doesn't have a karat weight scrawled into it automatically becomes worthless. It just becomes much harder to sell. That scrawling helps one determine its real value. |
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Ferfal, our resident expert in economic meltdown, said that buying and selling jewelry is far better than coins or bullion. Reason being, it is common and can be traded in smaller amounts. That seems to make sense. Typical gold coins/bullion are rather cumbersome in that there aren't many denominations. It's hard to buy a typical everyday item (e.g. a loaf of bread) in hyperinflationary times* with a 1 oz gold coin. How do you get "change" from that? I don't think they make 0.10oz gold coins! You'd either have to barter for a @#$@#-ton of bread (which would go stale) or eat the loss –– neither of which is palatable. *: for the record, I do not believe any precious metals are a good investment; I do not believe hyperinflation is coming, nor do I believe the sky is falling. I do not advocate a return to the gold standard, I prefer fiat currency. Just making an observation. |
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Leave it 'as is'.
It will always be worth its weight as scrap. It may have additional value for its fabrication into jewelry. Melting it into an ingot of mysterious karat makes it vendable only to someone who has their own karat testing system. And melting it might look kind of suspicious, as though one was a thief looking to destroy evidence. Marked, just about anybody will pay 'scrap' for it. |
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Like everyone has said, an anonymousblock of gold is worth ? vs something that has a known amount. If you make your own button, you'll need to get a certified assay (probably fire) in order to sell it.
If you do melt it, you'll need a ceramic crucible and use borax soap as flux. SRM |
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Ferfal, our resident expert in economic meltdown, said that buying and selling jewelry is far better than coins or bullion. Reason being, it is common and can be traded in smaller amounts. That seems to make sense. Typical gold coins/bullion are rather cumbersome in that there aren't many denominations. It's hard to buy a typical everyday item (e.g. a loaf of bread) in hyperinflationary times* with a 1 oz gold coin. How do you get "change" from that? I don't think they make 0.10oz gold coins! Well, they do. They also sell lesser % coins of various sizes. But the real answer of how one makes change afoter the Arfpocalypse is "Silver ounces, 90% coins, and .22 shells". |
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For the record, they do make 1/10 oz gold coins. 1/4 oz and 1/2 oz too. Several types. http://i627.photobucket.com/albums/tt360/samairdwork/canadian_maple_leaf_fractional.jpg They even go as small as 1/20 oz. And 1 gram. http://www.apmex.com/Product/50420/1_gram_Sunshine_Minting___9999_Fine_Gold_Bars.aspx 
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Quoted:
Quoted:
Ferfal, our resident expert in economic meltdown, said that buying and selling jewelry is far better than coins or bullion. Reason being, it is common and can be traded in smaller amounts. That seems to make sense. Typical gold coins/bullion are rather cumbersome in that there aren't many denominations. It's hard to buy a typical everyday item (e.g. a loaf of bread) in hyperinflationary times* with a 1 oz gold coin. How do you get "change" from that? I don't think they make 0.10oz gold coins! You'd either have to barter for a @#$@#-ton of bread (which would go stale) or eat the loss –– neither of which is palatable... or you can buy the grocery store. |