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.
Lets 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. Lets say for example you pay that person 50%, which is typical of most legitimate gold dealers. At $1400 an ounce, that comes out to $812. Now you send the gold to a refiner who will pay you 95% of the spot price. I will let you do the math, but this works out to a very nice profit from just one transaction. Many experts predict that gold will go as high as $5000 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. Click Here For Detailed Information…
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