| According to the World Gold Council there was | | | | chance to make some excellent profits just by |
| 1,212 metric tons of old gold scrap recycled in | | | | being the middle man. You simply buy from |
| 2008. This accounts for over one third of the | | | | individuals and resell it to a refinery. |
| supply. Learn where it came from and how you | | | | You can actually get started by operating right |
| can profit from this phenomenon. | | | | out of your house and, depending on your |
| Over the past year gold has been on the minds | | | | ambitions, it can grow into a full time storefront |
| of many people. This is due to it's rise in value. | | | | operation. |
| Anyone who has unwanted gold laying around, | | | | Getting started on a small scale is rather |
| specifically jewelry, is rushing to cash in on the | | | | inexpensive. Just place a classified in your local |
| high returns they can receive. | | | | paper and hand out some business cards. When a |
| The evidence shows this because already in the | | | | seller contacts you, simply meet with them right |
| first two quarters of 2009 there has been nearly | | | | at your kitchen table, go to their house, or meet |
| 1000 tons recycled and sent to refineries, almost | | | | them at a coffee shop. |
| as much as the entire year of 2008. That means | | | | Several tools to analyze the gold are necessary |
| the volume has nearly doubled from last year. | | | | and can be purchased from any jewelry supply |
| This phenomenon creates an excellent opportunity | | | | company. You will need a 10X jewelers loupe to |
| for investors looking to buy and for | | | | inspect the items, an acid test kit to be sure the |
| entrepreneurs looking to start up a gold buying | | | | gold is authentic and a scale to determine the |
| service. | | | | weight. |
| The advantage for investors is the ability to | | | | Once you know the exact quantity they have, |
| obtain it at a lower price. Instead of paying the | | | | simply make them an offer to buy. It's best to |
| normal spot price plus a premium, when buying | | | | offer about 50% of the spot gold value to |
| bullion coins and bars, they can buy scrap gold | | | | protect yourself against loss, just in case you |
| much lower. Then they can hold it in it's original | | | | make a mistake in the testing process. |
| form or trade it in for bullion at any precious | | | | After you have made the purchase you can send |
| metals refinery. | | | | your scrap gold to the refinery of your choice. |
| For entrepreneurs, it offers a very profitable | | | | They will assay it and within a few days you will |
| opportunity to started in the service business of | | | | receive a check. |
| recycling gold. | | | | As I stated earlier, in 2009 there was nearly as |
| Almost everyone has some amount of gold that | | | | much scrap gold recycled in just the first two |
| they no longer want or need and are willing to sell. | | | | quarters as there was in the entire year 2008. |
| In fact, the price is so high that many people are | | | | This spells opportunity for those looking to |
| selling it at a higher price than they purchased it | | | | capitalize on a trend that will continue for a long |
| for at retail, especially if it was bought prior to | | | | time. |
| 2000. | | | | The question is, how much of the 1,212 tons will |
| When starting a gold buying service you have the | | | | you buy? |