Quote: (02-09-2012 05:04 PM)thegmanifesto Wrote:
Quote: (02-09-2012 05:00 PM)chairman Wrote:
I started a small business while a Freshman in high school where I would go to estate sales that were advertising sterling silver and gold jewelry from craigslist. Because estate sales want to get rid of their inventory in a 2-3 day span the people there are willing to sell gold and silver for scrap and or lower therefore giving you a supply of extremely cheap metal commodities. Normally, I can get around 20% lower than scrap value because everyone knows me (there are usually only 4-5 estate sale companies per area) and I was willing to pay fully in cash. With about 3-4 estate sales a week, you can easily find 400 oz of sterling silver and 10 oz of gold per month. Usually I do not hold the silver for long and try to make money off the margins. I send my stuff to a refinery (http://www.northernrefineries.com/) where I get 91% of the scrap (for gold it is like 97%) amount so normally I will make around 10-12% of the scrap value of the silver so around 400 dollars a week. This is just my idea though, one can easily just stockpile the silver and gold and sell after 6 months or so. The major issue with this plan is that it requires you to live in a large metropolitan area for there to be enough of quality sales each week. I live in the Bay area so, I have access from San Fran to San Jose.
Wow.
I am impressed.
Pure hustler.
Thanks man, just trying to get the money to get from under my parents.