bbrown78414
New member
- Joined
- Apr 29, 2013
- Messages
- 2
Good day!!. I am new to this forum, and before I ask 10 million question which I'm certain have already been answered a thousand times, I would like to give a little back history of myself.
I knew absolutely nothing about anything with regards to this industry 5 years ago. A friend of mine told me he could hook me up with a good paying job, and before I knew it, I found myself on one of those traveling gold buying operations. Too my surprise, I was very, very good at it, buying peoples treasured items for 10%-20% of spot, and telling them to have a nice day as I robbed them blind. I made a few people a ton of money, and they paid me well to do it. At one point my team had a 6 week average of $2.90/dwt, taking in nearly 8,000 dwt's at that rate, and our company average was generally $14.50/dwt, across 200+ teams at one point. This was just before gold hit 1000, and I rode that train for a long time, before other companies started sprouting up and everyone caught on.
Now that I have successfully convinced you all that I am a criminal who gets his kicks by stealing from little old ladies, let me try to dig myself out of that hole. I have been out of that game for a while at this point, and I have had plenty of time to reflect on how dishonest and scandalous I was. In my defense, which is really more of an excuse to alleviate my own guilt, I was young, I am 32 now, and although I knew what the word "ethical" meant by definition, I had no idea how to practice ethics in business. I have recently decided to start buying scrap on my own, which I have noticed is easily obtained for 85%-90% of spot via online auctions, and even less in some places. I have spent the first 10 years of my professional life working in businesses' which sustain on less than 10% profit margin, and by that rational, I figure the remaining margin from gold purchases in that 85%-90% range should provide a reasonable secondary income, and hopefully, a primary income in the future.
As I am experienced with regards to the buying aspect of precious metals, I have little to no experience selling. What do I need to be looking for with regards to gold refiners/smelters? What are the appropriate questions to ask when shopping around? What sort of "surprises" might I be in for? Do any of you have any "general" advice, and do any of you have any credible refiners that you may recommend? Thank you so much for your time and thoughts.
I knew absolutely nothing about anything with regards to this industry 5 years ago. A friend of mine told me he could hook me up with a good paying job, and before I knew it, I found myself on one of those traveling gold buying operations. Too my surprise, I was very, very good at it, buying peoples treasured items for 10%-20% of spot, and telling them to have a nice day as I robbed them blind. I made a few people a ton of money, and they paid me well to do it. At one point my team had a 6 week average of $2.90/dwt, taking in nearly 8,000 dwt's at that rate, and our company average was generally $14.50/dwt, across 200+ teams at one point. This was just before gold hit 1000, and I rode that train for a long time, before other companies started sprouting up and everyone caught on.
Now that I have successfully convinced you all that I am a criminal who gets his kicks by stealing from little old ladies, let me try to dig myself out of that hole. I have been out of that game for a while at this point, and I have had plenty of time to reflect on how dishonest and scandalous I was. In my defense, which is really more of an excuse to alleviate my own guilt, I was young, I am 32 now, and although I knew what the word "ethical" meant by definition, I had no idea how to practice ethics in business. I have recently decided to start buying scrap on my own, which I have noticed is easily obtained for 85%-90% of spot via online auctions, and even less in some places. I have spent the first 10 years of my professional life working in businesses' which sustain on less than 10% profit margin, and by that rational, I figure the remaining margin from gold purchases in that 85%-90% range should provide a reasonable secondary income, and hopefully, a primary income in the future.
As I am experienced with regards to the buying aspect of precious metals, I have little to no experience selling. What do I need to be looking for with regards to gold refiners/smelters? What are the appropriate questions to ask when shopping around? What sort of "surprises" might I be in for? Do any of you have any "general" advice, and do any of you have any credible refiners that you may recommend? Thank you so much for your time and thoughts.
