All sorts of gold buyers out there... I am on a prospecting forum and they have a classifieds page where people advertise nuggets and fines all the time... Sells pretty fast usually.
I know the one prospecting shop I go to in Prescott Arizona sells nuggets at spot price but they only pay 75% of spot buying it.
Turn it into jewelry?
Also, don’t take any pictures of your theoretical gold mine with anything smart and locations turned on... Somebody on the forum did it and it stored the exact longitude and latitude the photo was taken and the guys hole was dug out next time he went back.
I believe there are smelter’s out there that would process your raw gold and send you back purified bars or pay you a cash price for the pure gold bars.
You’d give the metal to a gold bar manufacturer who would cast standardized gold bars that could be easily sold on the market.
Gold ore needs to be smelted and purified for bank safekeeping and monetization.
But before smelters will process the ore they are required by law to see your title papers. To get the papers you need to declare it to the US Treasury who will have rights to a portion of it.
When you have the paperwork in order, then the purified gold can go into safekeeping with a bank set up for that and you can sell it to the bank, to Treasury. to gold bond traders, and so on or you can borrow against it.
Anyone attempting to put purified gold into safekeeping will need to show chain of custody papers. The Iranians are known for transporting purified gold into a purported gold mine shaft in Turkey and then try to bribe local Turks to claim it is newly mined gold so they can fabricate smelter documents and get it into safekeeping with UBS in Zurich. This is done to evade sanctions.
So one can get into a lot of trouble as in prison time if the paperwork is not in order.
Cast it into chess pieces. Silver for white gold for black
I have a piece of gold ore with threads of gold running through it. A geologist told me to never extract the gold from it because it was such a beautiful specimen. I’m still keeping it in its natural state.
Maybe someday I’ll have to sell it. Not now.
Before you do anything, watch The Treasure of Sierra Madre.
Then proceed cautiously. The story is more true than you would imagine. Finding treasure destroys lives more often than not, just like winning the lottery. And everyone wants to know where it came from so they can have it for themselves, including all governments.
There are lots of gold buyers that pay for things like gold fillings and jewelry. Most jewelry is appraised at the wholesale gold weight value based on purity and with a deduction made for jewels like diamonds. I’m sure they could find a way to move it for you.
The tricky part will be paying taxes. You’ll have to do that, but it might be more complex than the selling part.
And if you need a trustworthy go-between who is willing to handle all of these tedious matters for a tiny commission, just reach out :-)
I'd then make small ingots in standardize sizes.
Then I would compile a list of reputable gold dealers and sell a few ingots to each dealer.
I don't know if you have to have a cover story but say you inherited them from your father, mother, uncles' estate.
If you don't want to draw attention to yourself don't sell large quantities at once and multiple times to the same dealer. Keep the deals small and don't imply you have more to sell.
Gold dealers in your city might know each other and if you're concerned about them talking about 'the same guy came to my business with the same story too' try to sell outside your area.
Large transactions will raise eyebrows and draw attention so keep transactions small, spread them around, and don't do them all at once.
Who is Forrest Fenn ?
First asteroids and then gold?
Cut me in on whatever shadiness you’re up to and i won’t squeal :)
JK Old school Italians never squeal
but i want part of the action :)
Call Paul Combretta. He had a gold mine too. He got help over at the board on Reddit, IIRC.
there’s no such thing as an undisclosed location. You need to report where you found the gold, and, if it turns out you found it on a registered claim, it ain’t yer gold sunny
Watch “The Treasure Of The Sierra Madre” with Humphrey Bogart and Walter Huston for how NOT to get the gold you prospect, to market.
Fun Thread!
This thread reminds me of a typical old western movie plot. The old timer comes to town bragging he struck it rich. Goes to the saloon, hauls out huge nuggets and buys rounds for the house. In the next scene robbers figured out where the mine is and killed him.
In today’s world, the gov will figure it out and steal it from you.
I am taking your question literally:
1. You would have to get your gold smelted—melted down and cleaned of impurities. You can do this, but it takes some research and knowledge of the process.
2. Then you would need to get it assayed. This means getting the purity of the gold measured and certified so that you can take it somewhere and sell it. This might be an issue if you are not in an area where there is mining going on.
3. Once it is assayed you should be able to take the “bar” to just about any gold dealer with the documentation and negotiate a price. You will probably NOT get spot for it. Estimate your value at about 85% of spot.
4. Sell your gold. Get cash if you can.