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Where can I buy gold dust?

Why can't you just melt gold nuggets to bars and turn a profit?

  • I see gold nuggets online for around 38 dollars an ounce, or gold dust for less. However gold is basically 1,000 dollars an ounce. So why not buy the gold as dust or nuggets and melt them into bars. And then sell them for the 1,000 dollars an ounce price? What am I missing here?

  • Answer:

    First off, you are missing karat purity. while you may be able to buy scrape gold on eBay for "pennies" it is no way bullion. Gold bullion is 24k 999.9 pure. You may notice gold ingots for sale as well in various increments 1g,5g,10g,etc. ever notice how much people are willing to pay for this, on average $135.7399 for 1g, which is just plain absurd. Considering that if you were to purchase that straight up all the way to an ounce you would literally be throwing hundreds of dollars in the garbage. As far as buying gold anything in that small of an increment even owning 10oz is pretty much a waste of money that could be more wisely invested. Most professional investors buy gold to help fight inflation not profit. In order to profit you want to buy trading power of gold not physical bars for storage. if you are considering this go MONEX they will help you decide what is best for you and your money

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different types of gold are valued differently; e.g., fabricated (like Krugerands) is different than bullion and bullion is different than nuggets. I have no idea why there would be such a huge disparity between them; nuggets have some impurity, but basically they are pure. Maybe the pricing you saw wasn't current or wasn't from a brokerage.

Scott K

I dunno, maybe there's other metals mixed in with the gold that you have to remove to make it pure and turn a huge profit.

Kels

I don't think the gold nuggets are pure gold. Probably a lot of impurities.

David

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