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Buying scrap gold from the public...

Discussion in 'Offline Marketing' started by mmenterprise, Jan 18, 2011.

  1. mmenterprise

    mmenterprise Newbie

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    Hello guys, I have a small gold buying business venture set up. I am wondering if any of you guys also buy scrap gold from the public?? Maybe we can exchange marketing tips such as advertising, etc. I am pretty knowledgeable about this stuff if you wanna talk!
    Anyways lemme know!
     
    Last edited: Jan 18, 2011
  2. Kronic

    Kronic Registered Member

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    Occupation:
    Nismo Whore
    Location:
    Within a small corner in the back shadows of my ab
    I currently am working with scrap metals. Mostly automotive scrap, with saving up in precious metals. Platinum is pretty easily attainable. And hoarding coins too lol. Do you refine your metals before selling? And do you purchase anything from retail markets? I don't have 15 posts yet or I'd just PM you
     
  3. mmenterprise

    mmenterprise Newbie

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    I do not refine. To me, its all about cash flow. I will drop 5k on gold in a day to make 500-600$. Then ship it off to my refiner and get paid strait to my bank account to keep the cash flow rollling.
     
  4. PlatinumPi4u

    PlatinumPi4u Junior Member

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    So does that mean that people are bringing in that much gold a day to you for you to pay out 5k? Cuz wow that sounds like alot!

    I think I read a how to on the gold biz here in the forums somewhere... its just the acid tests right?
     
  5. JamesHenry

    JamesHenry Junior Member

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    that's about what you can make with a cell phone store in a strip center depending on the location.

    do you rent a spot?
     
  6. GoldMember3

    GoldMember3 Newbie

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    MMEnterprise,

    I am in the same business and even dable in the international realm, however I am looking to joint-venture with several savvy and experienced scrap sellers/buyers/brokers... I had a few questions about your operations if you are willing to discuss on an open format.
    1.) Where are you located, Geographically?
    2.) What is your Gross Sales per month to-date?
    3.) Are you willing to entertain an opportunity for growth and capital backing for addiional purchasing capabilities in your area?

    If you are interested we can begin discussions here on the forum, by starting a new feed... I look forward to your respose.

    In addition, if any other experienced scrap metal or wholesale buyers have access to genuine sellers with 10-500k in gold, silver, platinum or palladium a day/week/or monthly basis, then please reply and start a new feed. I look forward to speaking with you.

    I am new to the forum, but will have several posts up hopefully allowing me to PM with you sooner then later. Have a great day!

    Respectfully,

    Justin
     
  7. unknownn

    unknownn BANNED BANNED

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    Business in europe is getting tuffer since the refine is already charging 20-25% of the value
    so you will be only able to pay 50% of its real value which isnt a good offer
     
  8. angelas111

    angelas111 Jr. VIP Jr. VIP Premium Member

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    i used to dabble in precious metals. i would pay 60% of scrap value on craigslist and resell on ebay at 95%.
     
  9. joegold

    joegold Newbie

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    Hello.

    I'm in the scrap gold business.
    I move around 20k-30k a month, of that 15 or 25% profit. What I do is this.

    - Make good business cards
    - Give your card to people, in the supermarket, gas station, anyware.
    - Stop at garage sales/yard sale, and tell them you buy scrap gold.

    From my experience I get about 1/2 gram for each business card that I pass around.

    Just keep on giving your business card away.


    Hope this helps.

    Jose
     
  10. bluehat23

    bluehat23 Registered Member

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    I thought the margins were higher than that. Is that typical?
     
  11. benzy

    benzy Power Member

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    not sure if its the same everywhere these days, but in china now we have gold vending machines, where you can buy bullion and coins as you would for a soft drinks
     
  12. Rob Mack

    Rob Mack Newbie

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    Occupation:
    Farm Manager
    Location:
    Howick
    Hi I'm not sure if I'm in the right area for this topic...please redirect me if I'm in the wrong.

    I'm having some a fair bit of scrap melted,
    Then off to sell it! Its my first time to sell melted scrap.
    I have 168 grams of 14 karat gold. I use a site goldcalc for the true value etc.
    What is the normal buying price i.e. .90 to the dollar or less (90% of the true value or less).
    any info on this will be appreciated, don't want to be ripped off.
    2. I also buy scrap at .60 cents to the dollar (60% of real value) is this considered fair or too low or too high?
    I'm still leaning this business.
    Thanks
    Rob