A new endeavor....

Well....I could be starting something new...but not to shocking with the type of company I am in. I have been on and off the phone with a small group of people and they want to bring me in as a partner on a "Cash for Gold" type deal where we buy gold and all of that good crap.....they think I can take there two stores turn them into something bigger and better and on top of that they want me to start a new store up, staff it and run it

Thats the short story..there are alot of details I left out as this would be very long post...but here very shortly I will be buying gold and silver jewelry and other things like that and the prices we will be paying will be crazy...(There is a guy with deep pockets who wants all the gold...)

Just something small and I thought I would put it out there =)


So...whats next that I am going to get my self into??

Congratulations, and not to stomp on things, but it isn't one of those "Cash For Gold" type outfits that scam people is it?

Not saying you would involve yourself into anything like that. I just never hear good things from those deals, but I know your a stand up guy, so it is just curiosity, more than anything asking.

I will keep my eye out on Gold and Silver Jewelry and save it for you.

You still going to run Easy Recycle, or you going to have someone else run it for you?

Sounds like an awesome opportunity you have there. I've been buying gold and silver from people since I've been in high school. I've always wanted to open a store like you, but in my area I was too late to the party. One thing I've seen in my buying(mind you this is small nothing like what yours would be) is the decline of the amount I've found. When I first started it was everywhere, but as the years go on I keep finding less and less. I know its out there, but it seems like allot of the gold left weak hands already. This is something you will want to check into. I wouldn't want the market to dry up on you right as you get going. The bright side as the economy keeps getting worse people will start to let go of anything of value and there is still allot of gold out there. It would also pay to start to learn and get good with Numismatics.

There is always a way to make it work as I've seen my buying dwindle I looked to other sources. I meet a lawyer who owns a law firm. They settle allot of estates. I now bid on all of their coins and put a value on the coin part of the estate for them. Before me they would bring someone from a city that is pretty far away and they didn't know if he was honest or not. The first time I put a bid against his, his didn't even come close. He must have really been low balling them for some time. It has payed off and this has allowed me to move into other areas. This has allowed me to get known at the banks and another law firm in the area, the lawyer really got me into places most dealers couldn't get into. When people come into the bank asking about coins I am the person the recommend. So far there has been quite a few collections I've put a value on and and from time to time they sell to me. These are also some areas you could think about getting into. I'm trying to be set apart from the other buyers in the area and focus on the large high end collections. Knowledge and honesty really gets around and is better than advertising. With all of the gold scams out there I believe there is an opportunity to be known as the most honest place around and that will bring people in. I think if you can handle the electronics business you could handle the gold business. You really seem like you would have a good personality for it.

Thank you dmm2442...very well put and thought out!

And yes alot of Cash for gold places ARE scams...but if I get behind ANYTHING trust me I will run it the same way I run Easy Recycle...with honest hard working people...I will make sure the pay rates are not only good so we are NOT scamming people but to be the best buyer out there so we get more gold and silver.

I have had a refiner in my pocket now for sometime that will pay me VERY good on spot prices...so this in return will let me offer good spot prices based on the gold market. I will not do what "other" companies do and that paying 40% or even lower for gold scrap....not going to happen.

Thats why I am going to be looking into there company over the next few days and see if its something I even want to put my name to...

Either I work with them or not...I will have my own gold and silver buying sooner or later...its just about how I go about doing it/setting it up.

Originally Posted by easyrecycle

Thank you dmm2442...very well put and thought out!

And yes alot of Cash for gold places ARE scams...but if I get behind ANYTHING trust me I will run it the same way I run Easy Recycle...with honest hard working people...I will make sure the pay rates are not only good so we are NOT scamming people but to be the best buyer out there so we get more gold and silver.

I have had a refiner in my pocket now for sometime that will pay me VERY good on spot prices...so this in return will let me offer good spot prices based on the gold market. I will not do what "other" companies do and that paying 40% or even lower for gold scrap....not going to happen.

Thats why I am going to be looking into there company over the next few days and see if its something I even want to put my name to...

Either I work with them or not...I will have my own gold and silver buying sooner or later...its just about how I go about doing it/setting it up.

Well like I said, if you do, I will keep my eyes out.

You be surprised what gets left behind at foreclosures.

One time I put up an "estate sale" ad on craigslist. Had 15 calls alone wanting to buy any and all jewelry lol.

Originally Posted by GeorgeB

Well like I said, if you do, I will keep my eyes out.

You be surprised what gets left behind at foreclosures.

One time I put up an "estate sale" ad on craigslist. Had 15 calls alone wanting to buy any and all jewelry lol.

Yea I know and love estate sales, right now there is not much info I can say or put out on this new deal I may start as I have not yet worked out all the details but once I do I will have it spelled out on my website and most likely on another website as well so will take it one step at a time. Just know that I will make sure its done right.

Originally Posted by easyrecycle

Yea I know and love estate sales, right now there is not much info I can say or put out on this new deal I may start as I have not yet worked out all the details but once I do I will have it spelled out on my website and most likely on another website as well so will take it one step at a time. Just know that I will make sure its done right.

Like I said, in a round about way, I got full confidence in you, and I feel much more comfortable, selling you the stuff, then I would those 15 other people.

Originally Posted by PistoneScrapProcessing

Easy grab a phone dial a business lawyer and dig up all the dirt you can on your partners just my two cents I would have every document poured over by the law office before I put my nams on the line. no sense in signing your life away for someone elses profit if that makes sense.

Amen to that. I have a legal people that I can ask and get info from very easily so trust me I will have the paper work checked out along with many other things. It will be fun to see how it all works out but as I told him if I am going to put my name on something...I will need to stand behind it all the way and know everything and be a partner or...its just not worth my time.

Him and me are going to have a meeting real soon and we will be going over some of the details and we will go from there.

Originally Posted by PartTimeScrapper

THe local buyer here in denver pays me 90% of spot on gold and 85% on silver. I cold get 95 and 90 if I sent it to a refiner myself but for 5% i like the cash and carry. I would think to be competative you would have to pay around these % of spot. Just what I know from my dealings.

I can get over that...my % cost is like 98% on gold spot. What I will be paying....don't know as of yet...there is over head and labor that will have to be factored in...but trust me when I say this..I will not be apart of something that pays only 40% like most of the gold buying companies.

Originally Posted by easyrecycle

So...whats next that I am going to get my self into??

Open a plastic buying company in Houston, and set me up with a roll off or dumpster (I'll let you have it all for free, too!). I'm taking 3-5 truckloads of ABS and the like plastic to the cities free recycling roll offs a week. I hate it, but at least I have advertisement on my truck now.