Refineries

[Sandpiper]

O. K. I know in the past this has been talked about, but as of lately which Company have you dealt with when scraping precious metal, Midwest, Hover & Strong, others. Which gives the best returns or percent of market on your scrape material. The easiest to deal with and the most honest in your opinion.
Would like a little insight on all the refineries, as all claim they are the best.

 

[Mike (Virginia Beach)]

I can only speak from my personal experience but I used Midwest and will use them again. I check with some others and the deal wasn't close to as fair and everybody said Midwest was the best. I found them to be friendly, quick, and very accountable in what they did and what they provided. Here is a post i made on it at the time:

http://www.findmall.com/read.php?26,401406,401406#msg-401406

 

[CliffHanger]

n/t

 

[Gulf Hunter]

If you look back to April or later of this year in my previous posts, I sent a lode of silver and gold into Midwest, for bars. It came out pretty cool. I feel good about it. At least I can check spot daily and know exactly how much my loot is worth, now that's being a good pirate! GH

 

[JOE in MD]

n/t

 

[Sandpiper]

Thanks guys, Mike, I think the paperwork tells me alot as to how the process is done.

 

[Beachcomber]

n/t

 

[lionel]

Does the IRS get a share of what you guys get when selling gold to refineries or is it all tax free ?

 

[Arkie John]

...that is, once his finds outweigh his investments to FIND the finds, then it is income and should be reported.

Machines can be depreciated out over a few years but personally, I rarely get in to the 'black.' I buy too many toys so I can find the finds that may or may not be deductible.

Maybe I should declare my losses--would be a nice tax break.

Clear as mud? Well, just keep diggin' and havin' fun. If you ever hit it big, then find an honest accountant.

ex-irs aj

 

[bdahunter]

Who are the IRS and what are these taxes things that you keep talking about? I don't understand why anyone would be paying somebody because they are enjoying their hobby of metal detecting. I guess living tax free has gotten me confused.

Just kidding, mostly.

BDA

 

[Sandpiper]

O.K I thought this was a hobby, as you can tell I ask the question because I have never sold anything that I have found. I do have a lot invested in my machines, gas, and etc. I'm not out to make a living doing this, gee I would starve to death. Would maybe be nice to get a little gas money back. If people would sit down and figure their time, gas, cost of machines, and whatever else goes into this, like I said a hobby or something that you enjoy doing. Not a Money Making Thing. Period.