How to Make Money Buying and Selling Gold
1st, be honest with folks! Avoid paying your scrap gold sellers peanuts for their old jewelry and bracelets.
Treat scrap gold sellers fairly and they will come back in future weeks and months.
And of course, they’ll send their friends and family members to you for gold purchases as well.
So, the gold buyer at the local pawnshop will try to get away with paying 10% to 25% of the fair market value of the gold.
The scrap gold buyers on radio, TV and Craigs List will attempt to pay as little as 8% of the true scrap gold value. These guys lack brains. And they lack staying power! After word gets around that they cheat folks, these scrap gold buyers will be gone. On to the next “big thing…”
Not you! Be straight with everyone you meet. Follow our guidelines layed out in our “How to Start a Scrap Gold Business” and you will prosper LONG TERM!
Educate your customer. Display your wisdom about gold in a friendly manner.
Explain the scrap gold process we teach you in detail in our Gold Business Manual.
In it’s simplest terms, your customer allows you to determine the gold content of their piece. You value their item based on today’s “spot price.” [Very simple and we explain this thoroughly in our Book.] You deliver or mail the piece to a refiner; a list of refiners is included in our “Scrap Gold Startup Book.” The refiner must smelt, refine, essay, and pour it into ingots. Then this gold is resold.
We’ll teach you how to explain this process to your scrap gold seller in very easy to understand terminology.
Bottom line with our method?
- Your customer leaves happy
- You make money
- Your refiner is happy. They pay you 85% to 92%+ of the “spot price.”
- And you repeat this transaction over and over again.
- Rinse and repeat!
Here’s a fairly typical scenario:
- Sellers bring you 3 to 4 gold jewelry pieces
- Average weight is probably 2 ounces.
- Most of these scrap gold jewelry pieces will be 14K gold – that’s 58% pure gold.
- 2 ounces of 14 karat gold is 1.16 ounces of pure gold.
- You visit http://www.GoldIntoLoot.com, scroll down to our Scrap Gold Calculator and enter the info to get today’s scrap gold value.
- Now, negotiate with your gold seller to accept say 50% of this value. Since you taught them about the gold process thanks to our Gold Book, this education process will be a cinch for you!
- Sell your gold to your refiner for… let’s be conservative and say… 90%.
- Your profit? Somewhere in the neighborhood of $410 based on today’s scrap gold price!
- Again: Rinse and repeat MANY TIMES PER WEEK. YOU will be a happy camper! [And, so will your customers and your refiner!]