new gold buyer

[brothersgold]

After years of watching the precious metal market, developing sales strategies, and often times wasting time NOT making money, my brother and I decided to launch our gold buying business out of TX. In addition to the local buying we created a website http://globalrefinersgroup.com that we're promoting on a national level. Take a look, I'd appreciate any constructive criticism or advice.

I realize we're later-comers to the market during this modern age "gold boom" but we felt that not even trying was worse than failing. I'm more of the entrepreneurial mindset, my brother more of the industrial and as such he'd like to venture into the refining side. We've been theorizing ideas for transitioning into that side and I was extremely excited to stumble across this forum. Should be an interesting journey indeed!

Greg

 

[etack]

I think with your prices you won't get much love from here. People around me were paying 75% spot for Au 5 years ago and competition is only getting worse.


Good luck

Eric

 

[Dan Dement]

Greg,

I am a Gold Buyer in Texas also. I have been paying an honest 82% for over three years. Are you familiar with the new Texas Laws concerning having Precious Metal License? You do not have the number on your website. Are you picturing and holding for 10 days? Are you reporting to "Leads on Line" website? You are in the hotbed of Refiners with NTR and HiTech plus others are based in DFW area. Welcome to the Dogfight and I really don't see how you are going to make any money. I have a successful manufacturing jewelry store with 40 years experience and so not depend on Gold Buying for anything. It's not getting any easier and I think you are going to have a very difficult time.

Good Luck,

Dan

 

[kurt]

Most of the cash for gold buyers in my area are paying 80% for gold & silver to walk in clients with small amounts of PMs & they pay there regular clients that provide large quantities of PMs between 85% - 90%

I have clients that buy my 999 refined Au & Ag at spot (large quantity sales) & spot plus (small quantity sales)

Kurt

 

[kurt]

After years of watching the precious metal market, developing sales strategies, and often times wasting time NOT making money, my brother and I decided to launch our gold buying business out of TX. In addition to the local buying we created a website http://globalrefinersgroup.com that we're promoting on a national level. Take a look, I'd appreciate any constructive criticism or advice.

I realize we're later-comers to the market during this modern age "gold boom" but we felt that not even trying was worse than failing. I'm more of the entrepreneurial mindset, my brother more of the industrial and as such he'd like to venture into the refining side. We've been theorizing ideas for transitioning into that side and I was extremely excited to stumble across this forum. Should be an interesting journey indeed!

Greg

globalrefinersgroup --- But your not really a refiner - you are a buyer that brokers to a refiner

I can'nt speak for anyone else here - but personally I take a bit of offence to "buyers" calling them selves "refiners" (& your not the only one)

Refining takes a lot of research/learning & work - with a proper lab set up that turns out 999 (or better) metal as an end product --- even on a hobby level - let alone as a business

Please understand I am not trying to offend you - I am just pointing out that your web site name does not really reflect what you do & therefore not a "true" reflection of your business

If you &/or your brother want to learn refining so you can make refining a part of your gold buying business - then you have come to the right place - this is where I have learned "how to" & after several years of working at it - I am still learning - from the many good members of this forum - who have "earned" the right to call them selves refiners.

Wecome to the forum

Kurt

 

[Palladium]

Nothing to do with this thread, but funny you should mention that kurt. I like the gold buyers who use the term " We own the refinery".

 

[resabed01]

Nothing to do with this thread, but funny you should mention that kurt. I like the gold buyers who use the term " We own the refinery".

Purely a sales pitch to the buyers to make them believe there is no middleman and they will be getting a better price for their PMs.

 

[squarecoinman]

After years of watching the precious metal market, developing sales strategies, and often times wasting time NOT making money, my brother and I decided to launch our gold buying business out of TX. In addition to the local buying we created a website http://globalrefinersgroup.com that we're promoting on a national level. Take a look, I'd appreciate any constructive criticism or advice.

I realize we're later-comers to the market during this modern age "gold boom" but we felt that not even trying was worse than failing. I'm more of the entrepreneurial mindset, my brother more of the industrial and as such he'd like to venture into the refining side. We've been theorizing ideas for transitioning into that side and I was extremely excited to stumble across this forum. Should be an interesting journey indeed!

Greg

Hi Greg I will give you my honoust opinion
my first feeling is that you want hits on your webside and that is why you made the post.
second you are not a global group, you are in TX and you are not a refiner. buycheapsellexpencievduo.com would be more honoust
I do not see any licence on the webside ? wonder why
I like that you put the price online for what you are willing to pay for 24K but it is so low that i wonder if anybody will fall for this. I think it is pretty low paying 25 % under spot price.

wrt refining from a business point of view, why bother your refiner will not pay more for the gold you will refine and it will take years of study

scm

 

[4metals]

Brothersgold,

The fact that you are in the DFW area can work in your favor, true there are a lot of refiners in the area but you are not big enough yet to do without them. The fact that you do not actually refine is more typical than most imagine. Unless refiners have a market to sell their fine gold and silver to whenever they have it and however much they have, and be paid either spot or a premium, then it pays to use an outside refiner. All refiners have specialties, what they profit from the most, for all else they have a refiner they ship to. So don't let that get you down.

Your goals should be simple, first you need to melt your scrap and get it into a form where it can be sampled accurately. That is accomplished by melting, preferably with an induction furnace. Second you need to know how much value is there. Dan Dement does this with his XRF and he has a long history of using the technology so he feels he is treated fairly at his refiner. He has been around long enough to know the business so I believe him. Personally I'm a little old fashioned and prefer fire assay. Whatever you choose, learn it well and it will not betray you.

Lastly if you find yourself in a position where you acquire significant quantities of material requiring chemical stone removal, you should consider setting up to process this material in house, nothing big but a worthwhile investment in peace of mind. (And eventual payout on your PGM's)

I wish you well in your venture and welcome you to the forum. All of your questions relating to everything I mentioned above are discussed in detail on this forum. You may have entered the game late, so you can't afford to do anything wrong. Read and ask questions, learn to factor the raw criticism from the value of many of the posts on this forum and you will have a good start at success.

 

[Dan Dement]

4metals,

Being mentioned in your post is an honor. I know you have the experience and knowledge that I have will never had. As far as my XRF experience, I feel it has been a great learning experience and the ability to know within a $20. window on over $10,000 cash out allows me to remain competitive. I have made some very good friends on GRF and appreciate the true experts who give their time and knowledge that allows others to learn. After a little rocky start, I find that GRF is one of my treasured reads every day. I try to repay by helping those that I can.

Again, I am honored by you mentioning a lowly XRF advocate as me.

Dan