Golden Brown
New member
- Joined
- Mar 25, 2016
- Messages
- 2
Hello, I would like to start this thread by thanking all the people on this forums for being so helpful. Even though I have not posted on this forums before, I've been able to find answers to any questions I had with the use of the search function.
I'm in the process of setting up a refining operation which has the capacity of outputting several kilograms of pure gold a month. Of course I'm going to take it slow; I'll start with small amounts and I realize that I won't be getting 995 right off the bat, but several kilograms of bullion grade gold a month is what I'm aiming for. Now, my question is: who do I sell it to? Finding sellers of scrap jewelry was not a problem. I've done my market research and found out that not only does everybody and their mother buy scrap gold, but that most of the buyers are getting charged way too much by their refiners. I concluded that my refining setup will be profitable while still managing to undercut most big refineries in the area.
Finding buyers proved to be a lot harder. I wouldn't even know which businesses I should contact. Maybe I could broker a deal and sell to bigger refiners for something like 95%-98% of the spot price, but that seems more like a last resort to me, as I feel like I could get more for my gold bullions once I finally manage to get them to the purity I want. Or maybe I'm wrong and finding regular buyers who are willing to pay spot is out of the question, even if I do manage to get my bullions up to industry quality and have them properly assayed.
For clarification I'm not asking for trade secrets and I don't except refiners on this forum give up all their information about who they're selling to and for how much. I'm just asking for you guys to point me in the right direction.
I'm in the process of setting up a refining operation which has the capacity of outputting several kilograms of pure gold a month. Of course I'm going to take it slow; I'll start with small amounts and I realize that I won't be getting 995 right off the bat, but several kilograms of bullion grade gold a month is what I'm aiming for. Now, my question is: who do I sell it to? Finding sellers of scrap jewelry was not a problem. I've done my market research and found out that not only does everybody and their mother buy scrap gold, but that most of the buyers are getting charged way too much by their refiners. I concluded that my refining setup will be profitable while still managing to undercut most big refineries in the area.
Finding buyers proved to be a lot harder. I wouldn't even know which businesses I should contact. Maybe I could broker a deal and sell to bigger refiners for something like 95%-98% of the spot price, but that seems more like a last resort to me, as I feel like I could get more for my gold bullions once I finally manage to get them to the purity I want. Or maybe I'm wrong and finding regular buyers who are willing to pay spot is out of the question, even if I do manage to get my bullions up to industry quality and have them properly assayed.
For clarification I'm not asking for trade secrets and I don't except refiners on this forum give up all their information about who they're selling to and for how much. I'm just asking for you guys to point me in the right direction.