Hatton Garden Metals

Rough_Driver

John_Pierpoint wrote: »

This is really interesting.

Can the X-ray machine see any way into gold?
How does one identify a "gold" bangle that has a core of some other metal.
OK if we are discussing pure gold and pure lead, Gold is much denser. Measuring , specific gravity/relative density of the bangle would give it away (The weights in air would look like gold but the weight in water, would differ because the lead core bangle would be "bulkier" and so lighter in water.)

However 9 caret gold is mostly not gold, how is the situation of having a core of something else, identified in this example?

How does a "fire assay" work?

OK I know I could Google it, but I expect you can explain from a practical point of view?

John, in basic terms the XRF process will be able to distinguish between a gold plated item and piece of solid gold - giving a figure ( %) as to the metals in the gold alloy.

The fire assay process is a little long winded for this forum to explain - google is your friend for that one, sorry

Looking at SP and measuring the gold content is a process that was used many years ago and can give very accurate figures - as long as you don't mistake tungsten for gold. Nowadays people just want fast and cheap assays - it has been replaced by the fire assay process.

Addressing what other forum members have posted suggesting that my posts where sarcastic. My aim was to start people thinking about the issues - Hatton Garden Metals and it's cosy relationship with MSE. My tactic, as I am not a long standing member of this forum, was to go in hard and elicit a reaction from forum members. Given the response I have had on this thread and the private messages. The tactic has worked.

The ends truly have justified the means!

Let me spin this back to some who have posted on this thread. Am I wrong for using this tactic?

NB: This is not trolling. Nor am I a troll.

geo555

When you sell gold to any of the big buyers, you will get paid a scrap value and not the spot price.
If there was no margin in the scrap price for overheads, handling and refining it would be a pointless business.

Rough_Driver

geo555 wrote: »

When you sell gold to any of the big buyers, you will get paid a scrap value and not the spot price.
If there was no margin in the scrap price for overheads, handling and refining it would be a pointless business.

Clearly that would be the case. I have never said that I would like to get anymore than 85% of the spot - or more accurately the latest London Fix Price. Going back to my original point and post. Hatton Garden Metals where under weighing my gold items. The real term margin was more like 70%

This happened twice.

If I wanted 70% I would have gone to cash4gold

Hermione_Granger

Hatton Garden Metals where under weighing my gold items. The real term margin was more like 70%

This happened twice.

http://goo.gl/1Srze

Rough_Driver

MrInvestor wrote: »

That is not always the case. Take gold bullion coins for example. I sold a gold Krugerrand coin last week to a company and got the spot price for my coin. Looking at their website today they are still offering the spot price for 1oz Krugerrands www.sovereigninvestments.co.uk/buy-and-sell-gold-coins.html

Maybe this is one reason why bullion coins ARE such a good investment - but that discussion is for another thread

Krugerands or any of the other popular gold coins should always trade over the spot price. There is a premium cost attached with making and marketing the coin the mint passes onto the primary dealers they pass this onto the secondary dealers etc etc

Scrap gold is a completely different market