Today I am going to write something different. I have created this website to share my expertise in online programs for making money. I write transparent reviews so that newbies can be saved from online scams and join legitimate opportunities. Today I am not going to touch any online opportunity but would review a guide which can help my readers to make money through buying and selling Gold offline.
Buying and selling gold can be a profitable business. You can definitely make some extra money with this business working on a part-time basis. However, you can also plan it as a full-time regular business.
I used to do it in my spare time a long back but since I have established my successful online affiliate marketing business, I am not involved in gold business any more. I make regular 6 figure income as an affiliate marketer and spend my spare time with my family.
What makes gold best for investment is its track record for returns and liquidity. Moreover, if you do a bit of research, you will find that the prices are inversely proportional to economic growth.
People normally do not invest in Gold When the economy is good and the stock market is booming . They would rather invest in the booming stock market for fast money and therefore gold prices would fall.
When economic growth is not good and the stock market starts falling like a pack of cards, the people would turn to gold treating it as a save heaven.
But intelligent people always adopt the reverse but right direction. They buy gold when the economy is good and when they have surplus money for buying. They sell for a high price at the right time when others are looking forward to investing in Gold.
It seems interesting. Isn't it?
That is the right strategy for making investment but not the business. I do not want you to buy Gold from a jewelry store and sell it for profit after a few years.
I want you to buy the gold anytime from the public irrespective of market situation and make a profit.
Click here for the complete report on "how to make money with Gold". or continue to read the article for more details.
Suppose today's gold price is $2000 per ounce and if you want to double your money by selling gold at this price, you might have purchased it at least 4 to 5 years back. That is a kind of long term investment and not a business we were talking about.
If I say that you can learn to make £100 - £200 per day buying and selling gold, Would you be interested?
The price of gold keeps on fluctuating just like any other commodity. You may be asking your self if it is the right time to buy or you should consider selling some to make money.
If you want to make money by buying selling the gold, the time is not a factor and it is always good.
The method I am going to teach you are independent of market and time. It does not matter if Gold is being sold at $1000 per ounce or $5000 per ounce. In both cases, you will be able to make money.
If you feel you would require a lot of money to get started with buying and selling the gold business, you don't. Some tools are required to start this business. You can either buy the new one or may be able to purchase used.
You can buy Gond in many Ways. You will have to find the technique to go to the rock bottom price of Gold without having your own mine.
But from where this gold would come from? I assure you that it would be much easier to get the gold which has already been mined.
To source Gold, you need to look mainly for two items i.e Gold Coins and Gold Jewelry.
There are many ways to buy the Gold, some of these are mentioned below.
1. Store and stock Clearance Sale:
There can be many reasons for the store and stock clearance. Sometimes it happens due to change in business Model, Foreclosure, Bankruptcy or outdated designs.
You will have to look for information through classified ads or other means and it may happen that you may hit the Jackpot.
2. Online and Offline Auctions:
You may find the information regarding the online auction in Local News Papers. The local auctions can be a good source for buying Gold. You may get gold Coins and Jewelry much below the market value.
I would not advise to but gold through Online Auction if you are not an experienced buyer. However, online media can be used form selling the Gold and making money.
3. Thrift Shop
Buying Second-hand Jewelry at a discounted price can turn out to be a goldmine for you if you can access the approximate sale value. You can find the whole technique to identify the profitable Gold and Silver Jewelry in this eBook.
4. Estate Sales
The most common reason for the estate sale is the death of Property Owner and liquidation of their property due to some reason.
An estate sale may also occur as the owner may be moving to a new house and want to dispose of the belongings including jewelry.
5. Gold Parties:
A gold party is just like a kitty Party. People can socialize, enjoy and along with plan this party to sell the Gold jewelry Scrap.
6. Other People:
You can not buy the gold from a Jeweler's shop and sell it for a profit. You will have to buy from other people. Even the refiners sell the gold just for 1 to 5% commission. So that is not a high-profit business unless you develop skills to buy from others.
Tools Required for Gold Buying selling Business:
You would also require some tools for your business. You will have to make sure that you are buying the real Gold. Before making a buying price, you must know the Gold Weight and Karat of the Gold. Karat define the purity of Gold.
Before we discuss the tools required, let us see the Karat Chart here. Higher the karat means more amount of Gold and less amount of other alloyed material. These alloys are added to provide strength to Gold as gold is a malleable material. Karat has a value ranging from 0 to 24. KArat numbers are stamped on gold coins.
You can find the percentage of Gold by diving the number of Karat by 24and multiplying by 100. A 14 karat Gold means 58.33% pure Gold [(14/24)X100=58.33]
Precision Weight Scale:
The scale is the most important tool for you to accurately measure Jewelry weight. You need to buy a multifunctional Scale. Scale must be able to weigh in various measurements i.e grams, ounce, troy, pounds and carats.
The scale should have a tare function for small pieces of jewelry that need to be placed on the container. The scale must be able to measure to the thousands of a gram i.e milligram.
Though most of the Scales are pre calibrated, you should buy a scale which comes with the calibration weights so that if some go wrong you can re-calibrate the scale your self.
I recommend you to buy any one of the Following from Amazon
Gold Testing Kit:
The testing kit is required to determine if the Gold is real or Fake. The kit normally includes Testing Solution and a good quality stone for testing gold.
The kit generally includes different bottles of Solution tom test 10, 14, 18 and 22k gold along with the solution for testing silver and platinum Gold.
Our recommended testing Kit is JSP Gold Testing Kit.
A jeweler's loupe is the magnifying glass required for viewing jewelers and Karat mark which can not be seen with naked eyes.
JARLINK Loup comes with two magnifying lenses i.e Primary Lens 30X12 and supplementary lense 60 X 12 mm. The loup is fitted with LED lights for providing good illumination with the right amount at the correct angle.
Besides above you would also need mini pliers, a calculator, and a magnet. A magnet can save lot of time by just testing. If the jewelry being sold is attracted towards the magnet, it is not gold and you can just avoid the deal without further testing.
You can sell the GOld scarp to the refineries for remelting. Second-hand jewelry bought in the GOld parties can also be d=sold to thrift shops kor you can sell online marketing platforms like eBay,
For buying and selling you can check the current prices of Gold online.
How much money is required to get started?
You would have to buy the tools mentioned above and recommended tools may cost you approximately 60 to 70 USD.
You may have to spend about $25 to $50 on local advertising to find your first few customers.
To start the business, you will need some money to purchase your gold.
I feel all in all you can get started at approximately $500. But don’t worry.
DO not worry, if you do not have this much money. In the eBook, you will find two ways to get started without cash.
What is included in the Training:
- 50 page eBook giving you the complete details on How to Make Money Buying And Selling Gold.
- Ads Flyers and invitations to market your business.
- List of refineries who would pay between 92 to 96% for gold.
- Trade Secrets.
- Sandwich Board advertising.
Make Money Buying Selling Gold
You can make some extra money through Buying and selling Gold. You can neither become a millionaire nor can you earn enough money to support your family with this business but you can add some extra money to your existing Paychecks. In case you are planning to start Gold Business, This guide will help you a Lot.
I was laid off from Job at the age of 51 and I got my self involved in a number of businesses before finally switching to the Affiliate marketing Business.
Affiliate marketing will also not make you rich overnight but It will help you make Passive income which would keep on increasing.
You first Affiliate commission may take some time but scaling up the Affiliate marketing is quite easy.
And yes You can too make 6 Figure income just like me.
I hope You this article would help you in starting your own business. In case you need more information, Just leave a comment below.