Make Money Buying & Selling Gold – Turn Old Jewelry Into Cash

09/07/2015

buying-and-selling-gold-header

Make Money Buying & Selling Gold – Turn Old Jewelry Into Cash

 

The United States is the largest jewelry market in the world and millions of Americans have old, broken or just out-of-fashion pieces of jewelry sitting in their jewelry boxes. Just last week my wife came across a single 18K gold erring. She lost the other earring in the set about ten years ago and the remaining earring has just been sitting in her jewelry box since then. I put the earring on my gold scale and it weighed 8 grams. At today’s prices that one earring was worth over $300 –which is more than she paid for the pair ten years ago.

There is literally a fortune in gold –billions of dollars worth, sitting around collecting dust. But the high price of gold today is bringing it out of the woodwork. And all you have to do to get your piece of the pie is to ask.

You might be wondering how long this business can last.

“Every year all the refining companies in the US combined refine less than one percent of all the scrap gold jewelry in the country. And new jewelry sales grow over five percent a year. So there is pretty much an endless supply. We have been in this business for 33 years and we expect to be doing this for at least another 33 years.”

 

buying-and-selling-gold-banner-2
How much can I make buying gold?

Unscrupulous gold dealers like the ones that advertise on radio and TV ask you to mail your gold in to them. They typically pay between 10% and 20% of the value of gold. Most pawnshops pay about 30% to 35%.

Legitimate dealers pay between 40% and 65%. 40% to 65% may seem low to you, but remember, the gold you buy has to be smelted, refined, assayed and poured into ingots before it can be resold. Refiners who do this will pay you between 85% and 92% of the spot price of gold.

Let’s look at a typical sale. The average person tends to bring in three or four items that altogether weigh about 2 ounces. Most items people bring me are 14K gold which is 58% pure gold and the rest is alloys to lend gold its color and hardness.

Two ounces at 58% works out to 1.16 ounces of pure gold. Let’s say for example you pay that person 50%, which is typical of most legitimate gold dealers. At $1400 ounce, that comes out to $812. Now you send the gold to a refiner who will pay you 95% of the spot price. Many experts predict that gold will go as high as $2000 an ounce. I don’t know if that will happen, but imagine how profitable this business will be if it does.

Do that 3 or 4 times a week and you are looking at some real money! And it’s 100% legal.

There are two factors driving the gold business today:

A tough economy with millions of people out of work
The record-high price of gold

The gold business has always been a good business, but nothing like it has been since 2008 when gold prices started rising as the economy began the downturn. These two facts have combined to bring millions of people out of the woodwork with gold to sell. Either they need cash, or they just want to take advantage of today’s high prices.

It is very easy to find these people. You can set up in a hotel room like the person in the example above. You can advertise in local papers or even on radio. You can also advertise for free on sites such as Craigslist. Another popular method is using door hangars. You can get them made for about 2-cents each and hire school kids to hang them for you. But none of these methods work as well as one simple, low cost advertising method.

Gold Parties are a booming business

You have all heard of home parties for Tupperware, cosmetics or cooking gadgets. Well at those parties people spend money. When people attend a gold party they make money! If you can get 10 people to a gold party you can buy several ounces of gold, -potential profit of up to 45% on each ounce And the hostess, who put on the party, will get 10% of what you make.

This system includes complete instructions on hosting a gold party of your own and how to market gold parties to others. Besides the instructions flyers, brochures, ads and invitations are also included. All of these are in simple Word docs, so all you have to do is add your contact information and print them out.

 

buying-and-selling-gold-banner

Make Money Buying & Selling Gold – Turn Old Jewelry Into Cash

buy-it-now