My idea for scrapping Gold

**ScraperRick** · 09-20-2012, 06:45 PM

I had this idea on how to scrap Gold and I was hoping you guys can tell me what you think. You guys have all been extremely kind and helpful in giving me advice so I thought I'd run it by you all before I invest.

Gold right now goes for 1700 an ounce - I believe. So I thought I could find scrap Gold over craigslist and sell that. I found Pandora charms worth (300$ in value) I believe, not sure going for 80 bucks. So I thought I could scrap these small charms for money at my yard.

So basically the idea is to find gold on craigslist, buy cheap and scrap high.
Tell me if you guys think this is a good idea.

**KzScrapper** · 09-20-2012, 06:50 PM

Any time you can buy low and sell high, it's a good idea. Problem is, if there is money to be made you are going to have competition to squeeze out. Do you have a plan for that?

**ScraperRick** · 09-20-2012, 07:24 PM

KZBell, what do you mean by Squeaze out?
If gold is going for 1700 per ounce does that mean I can make 1k off of these charms at scrap value?

**IdahoScrapper** · 09-20-2012, 07:28 PM

My head hurts.

**PartTimeScrapper** · 09-20-2012, 07:34 PM

what he means is you will be competing with all the we buy gold places. You will need a way to test the gold you find on CL and get a buyer for it. basically you will have to buy it at a percentage of its value and sell it to someone for a higher percentage. Ill give you an example. Lets say someone wants to sell you a 14k gold necklace. Its weight is 1 toz. Its scrap value with gold at $1700 toz will be $991. Now no place or refiner is going to give you that for it. Like the buyer I use here in denver pays 95% of spot. So my buyer would pay me $941. Now my buyer pays me on the markings. If the gold piece doesnt have the K marking to tell you what it is you will need a way to test it. Hope that helps. You can make good money buying and selling gold but can lose alot if you dont know what your doing. Personally on CL I have gotten some gold and silver from there but Its usually only on about a 5 to 10% margin.

**ScraperRick** · 09-20-2012, 07:43 PM

Part time thanks for your response it was very helpful!
I sent pictures of the charms to my buyer to see if it's something he'll buy/give me an estimate on.

The lady is willing to part with all the charms for 80$. It dos sound fishy but I'll have to go there and see if their real pandora. How do I test it to see if It's real gold?

**PartTimeScrapper** · 09-20-2012, 07:48 PM

With a gold testing kit. I would do alot more reading on the subject before you start dishing out money. Google is your friend.

**AuburnEwaste** · 09-20-2012, 08:09 PM

So I thought I could scrap these small charms for money at my yard.

I don't know of any scrap yard that buys gold.

**mikeinreco** · 09-20-2012, 08:20 PM

There is one yard here that buys gold but they just got brought up on charges for buying a large amount of railroad steel LOL

**garrett** · 09-20-2012, 08:59 PM

Uhh ohh

**scraprecycler** · 09-20-2012, 11:42 PM

You need to find a gold refiner they will pay you the most

**parrothead** · 09-20-2012, 11:58 PM

As stated above, you will have to test that gold before buying. Anyone selling $300 worth of gold for $80 either has a hole in their head or more than likely scamming you.

**scrappy888** · 09-21-2012, 01:41 AM

Gl scraping ScraperRick....

**BohemianLush** · 09-21-2012, 11:32 AM

[QUOTE=ScraperRick;102095]Part time thanks for your response it was very helpful!
I sent pictures of the charms to my buyer to see if it's something he'll buy/give me an estimate on.

The lady is willing to part with all the charms for 80$. It dos sound fishy but I'll have to go there and see if their real pandora. How do I test it to see if It's real gold?[/QUOTE]

Rut Row! I don't mean to sound cynical, but if you don't even know how the hell to test gold then you have no business buying it. You will get upside down real quick if you are not careful. All it takes is one bad deal to blow any margin that you might have made. Also, don't rely on markings. I found what I thought was a white gold bracelet in the shred pile that was marked "14k" acid tested it and shot it with the niton and it was just brass. Stick with buying copper, iron and aluminum. At least you know what you are getting.

**miked** · 09-21-2012, 11:38 AM

Check out ARA

**keh1959** · 09-21-2012, 02:31 PM

"Scraper", this is very similar to another post you had earlier this week, concerning buying from a recycler and selling to a scrap yard, or vice versa.

While I admire your entrepreneurial spirit and arbitrage is wonderful, these posts are sounding like the bait of a troll....

Maybe I am totally off-base and if I am, I pre-apologize. How about you tell us the number of posts you've researched to find these answers. Or maybe a few links to videos on how to test gold.

**MisScrap** · 09-21-2012, 05:12 PM

Originally Posted by ScraperRick

KZBell, what do you mean by Squeaze out?
If gold is going for 1700 per ounce does that mean I can make 1k off of these charms at scrap value?

If it was that easy...don't you think everyone would...and there is competition...ME!

lol just kidding but really, there is...it's tough...but whats the worse that can happen you know? If it doesn't work just try another approach..eventually it will!

**DWJ** · 09-21-2012, 10:41 PM

I just typed up a real smarta** comment to the OP, thought better of it and deleted. Good luck with your gold trading endeavors ScraperRick.

**recyclethis** · 09-21-2012, 11:26 PM

[QUOTE=BohemianLush;102221]

Originally Posted by ScraperRick

Part time thanks for your response it was very helpful!
I sent pictures of the charms to my buyer to see if it's something he'll buy/give me an estimate on.

The lady is willing to part with all the charms for 80$. It dos sound fishy but I'll have to go there and see if their real pandora. How do I test it to see if It's real gold?[/QUOTE]

Rut Row! I don't mean to sound cynical, but if you don't even know how the hell to test gold then you have no business buying it. You will get upside down real quick if you are not careful. All it takes is one bad deal to blow any margin that you might have made. Also, don't rely on markings. I found what I thought was a white gold bracelet in the shred pile that was marked "14k" acid tested it and shot it with the niton and it was just brass. Stick with buying copper, iron and aluminum. At least you know what you are getting.

Note to self, One could have a hell of a lot of fun at Bohemians' yard with some chain and gold spray paint.......

**Mechanic688** · 09-21-2012, 11:57 PM

Stick with buying copper, iron and aluminum. At least you know what you are getting.

Unless you buy a copper brick that someone has inserted a steel/lead slug into it for weight. You could also lose your a$$ quickly that way too!

My idea for scrapping Gold

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