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Question on a recent gold purchase.

KameoKameo Posts: 207
in Precious Metals
I bought a 1oz Credit Suisse gold bar on ebay last week. The item arrived, and sealed with the bar were some copper colored pebbles in a small plastic bag. I'm not sure what they are, but it says "casting gold" made by the Argen Corporation. It also says Argenco 24kt on the back of the paper. The listing dosn't mention anything about this extra item, and the extra item was not included in the sellers pics. I'm thinking it might be a kit for gold fillings? Does any here have any information on what this stuff might be? Thanks. image

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Comments

  • gecko109gecko109 Posts: 8,231 ✭
    Read the cert. It says if you melt the gold bar with the copper pellets, you will then have 22kt gold. I can only reason this is for the sake of making an alloy suitable for making jewelry.
  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    That's really odd, but kind of cool.
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • jmski52jmski52 Posts: 22,897 ✭✭✭✭✭
    Very interesting...image
    Q: Are You Printing Money? Bernanke: Not Literally

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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    The dental route is the answer. I forgot how it goes. My gold dealer buddy had his AGE's stored like this. They react together some way. Why? Like I said I forget???image
    Avid collector of GSA's.
  • CladiatorCladiator Posts: 18,049 ✭✭✭✭✭


    << <i>Read the cert. It says if you melt the gold bar with the copper pellets, you will then have 22kt gold. I can only reason this is for the sake of making an alloy suitable for making jewelry. >>

    That's pretty cool.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    Perhaps the seller did this because he/she has had people buy gold bars and melt them and turn them into jewelry so they decided to include a little something in there in case you may do that.
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  • yellowkidyellowkid Posts: 5,486 ✭
    Might be an opportunity to enter the dental field.......image
  • derrybderryb Posts: 36,937 ✭✭✭✭✭
    check out the caution at the bottom of the pictured card.

    The government is incapable of ever managing the economy. That is why communism collapsed. It is now socialism’s turn - Martin Armstrong

  • PerryHallPerryHall Posts: 46,228 ✭✭✭✭✭


    << <i>Read the cert. It says if you melt the gold bar with the copper pellets, you will then have 22kt gold. I can only reason this is for the sake of making an alloy suitable for making jewelry. >>



    Is 22k gold ever used for jewelry in this country?

    Worry is the interest you pay on a debt you may not owe.
    "Paper money eventually returns to its intrinsic value---zero."----Voltaire
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  • gsa1fangsa1fan Posts: 5,566 ✭✭✭
    By the caution on the card maybe dentist can buy gold wholesale. I wonder if some are selling it on the side?
    Avid collector of GSA's.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    22k may be used by foreigners perhaps. Americans love their 14k but I know asians, indians, and middle easterners love the 22-24k stuff
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  • KameoKameo Posts: 207


    << <i>Read the cert. It says if you melt the gold bar with the copper pellets, you will then have 22kt gold. I can only reason this is for the sake of making an alloy suitable for making jewelry. >>



    I just got an email from the seller. He says it is used for making jewelry. I also noticed the note at the bottom about US Federal Law. I guess he included it with the gold because it would be illegal for him to sell. I was a nice little bonus to include with the bar. Thanks all for your help image

    Something else. I'm not too sure the seller is a dentist selling gold on the side. The last 4 digits of the sellers name is thug. I don't know why I mentioned this, I just thought it was a bit funny.
  • gecko109gecko109 Posts: 8,231 ✭


    << <i>

    << <i>Read the cert. It says if you melt the gold bar with the copper pellets, you will then have 22kt gold. I can only reason this is for the sake of making an alloy suitable for making jewelry. >>



    Is 22k gold ever used for jewelry in this country? >>




    Is Credit Suisse an American company? Do you know for a fact this particular package originated in the U.S.? Are you aware that there are 6.7 billion "other people" on this planet that dont reside in the USA? The world prefers 18/22kt gold jewelry FYI. Only a tiny % actually tolerates 14kt.
  • mkman123mkman123 Posts: 6,849 ✭✭✭✭
    I think Americans need to all rebel and say no more to the 14k crap! It costs way too much, they should buy 18-24k and save more money....I mean they pay so much for 14k and when they have to pawn it, scrap it, they get crap money for what they paid.
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  • WeissWeiss Posts: 9,941 ✭✭✭✭✭
    Note that the bag is marked 1.82 dwts. "Dwts" = pennyweight, a somewhat obsolete weight system for precious metals. There are 20 dwts to a troy ounce (31.1034768 grams).

    20 + 1.82 = 21.82/24 = .909166

    22/24 = .91%

    So, where is my math off? Shouldn't the baggie contain exactly 2 dwts?

    Unless the compound in the baggie contains some gold too?
    We are like children who look at print and see a serpent in the last letter but one, and a sword in the last.
    --Severian the Lame
  • CaptHenwayCaptHenway Posts: 32,227 ✭✭✭✭✭


    << <i>Note that the bag is marked 1.82 dwts. "Dwts" = pennyweight, a somewhat obsolete weight system for precious metals. There are 20 dwts to a troy ounce (31.1034768 grams).

    20 + 1.82 = 21.82/24 = .909166

    22/24 = .91%

    So, where is my math off? Shouldn't the baggie contain exactly 2 dwts?

    Unless the compound in the baggie contains some gold too? >>



    You did the math wrong.

    If you melt the gold with the alloying material you get a gross weight of 21.82 dwt.

    Divide 20 dwt of pure gold by 21.82 and you get a percentage of 0.91659, close enough to 22/24ths or 0.91666666666666 fine.

    Basically it is a kit for a jeweler to make his own 22kt gold. The customer gets to see the pure gold before it and the alloy are melted together, perhaps right in front of the customer. We have had jewelers here in Chicago buy Maple Leafs that they were going to melt down in front of the customer, and sometimes his wife who is going to wear the jewelry. I try to sell them scratchy maple leafs since they are going to be melted down, but some customers insist that the sacrificial coin be perfect lest it degrade the jewelery somehow.

    TD
    Numismatist. 50 year member ANA. Winner of four ANA Heath Literary Awards; three Wayte and Olga Raymond Literary Awards; Numismatist of the Year Award 2009, and Lifetime Achievement Award 2020. Winner numerous NLG Literary Awards.
  • ashelandasheland Posts: 23,226 ✭✭✭✭✭
    That is odd. I would not expect that with a gold bar.

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