Where do mines sell their gold?

Bullion banks are the middleman of the gold world. Miners produce gold, but they might not produce it at the same time that consumers want to buy the metal. So the banks play a sort of clearing role: when producers want to sell, they can sell to the bank. When consumers want to buy, they can buy from the bank.

Can I buy gold directly from the mine?

Luckily for these folks, there is a way to buy gold directly from mines, or even from individual prospectors. The market for gold in raw form is different than that of refined gold or gold coins, so it’s important to understand that this is a different sort of investment.

Can you sell gold that you found?

The short answer is yes. You can sell gold that you find. Unfortunately, selling gold isn’t always a simple process. You will need to go to a local gold buyer with your verified item and they will offer you a price for it.

Is it legal to look for gold?

Gold panning is legal in most rivers and streams running through state and national parks in California, but your luck will be best if you head to regions where gold has been discovered in the past.

Can you find gold in any creek?

Gold is not randomly scattered throughout a creek or river. Due to its high specific gravity, it acts in a very predictable way, and can often be very easy to find if you just search in the right spots. Learning how to properly “read a river” for gold is one of the most important aspects of placer mining.

Who buys gold from Africa?

In 2015, China – the world’s biggest gold consumer – imported more gold from Africa than the UAE. But during 2016, the latest year for which data is available, the UAE imported almost double the value taken by China. With African gold imports worth $8.5 billion that year, China came a distant second.

How much do you get for selling gold?

What is the right amount to receive for your gold? If you’re selling Gold Jewelry, a reasonable settlement would be 70% to 80% of the market value. If you’re selling Gold Coins a reasonable settlement would be 90% of the market value.

What happens if you find gold on government land?

If you find gold you are free to keep it without telling a sole. You don’t have to report it to the government and you don’t have to pay taxes on it until you sell it. This public land is generally managed by either the Forest Service or the Bureau of Land Management. Most of it is found in the western United States.