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How to Buy & Sell Gold

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Page 1: How to Buy & Sell Gold
Page 2: How to Buy & Sell Gold

How to Buy & Sell GoldThe Quick & Dirty Guide to

Flipping Scrap Gold for Massive ProfitsStarting Tonight!

Matt Wallace

Published by TheGoldVideo.com at Smashwords

Page 3: How to Buy & Sell Gold

Warning: This is NOT a Public Domain e-book!

You have been given one complimentary copy to keep on your computer or tablet. You may print out one copy as a bonus upon claiming your membership to my video

training course at TheGoldVideo.com

Printing out more than one copy - or distributing it electronically - is prohibited by international and U.S.A. copyright laws and treaties, and would subject the purchaser to

penalties for each copy distributed.

All rights reserved.

TheGoldVideo.comPO Box 48617

Tampa, Florida 33606Website: http://www.TheGoldVideo.com

Page 4: How to Buy & Sell Gold

Table of Contents

IntroductionWhy Is Buying Scrap Gold a Great Business?

The Price of GoldRecommended Equipment

Karat StampsCommon StampsTesting The Gold

Testing SilverWeighing The Scrap

Promoting Your BusinessSuccess Tips: Becoming a Gold Buying Machine

Flipping & Getting PaidNext Steps

Page 5: How to Buy & Sell Gold

Introduction

I want to first congratulate you for downloading this eBook and taking the first step toward your financial freedom buying & selling gold, silver and platinum.

This guide will explain in detail how to go about buying scrap gold for a fair price and cash in on this gold. I have personally run a similar business and I know the “dos” and “don’ts” of gold buying. I’ve worked with many others who have also made small fortunes buying and selling scrap gold and have become an expert in this field.

To ensure my product is the best, I purchased other gold buying instructions and was FLOORED at some of the topics they overlooked and poorly covered. Rest assured, you will know everything you need to know to start going out and purchasing gold.

And although buying and selling gold can be very lucrative, there are some significant risks that must be considered. I’ll expand upon those later as well.

To provide you with the most accurate and inclusive information, I worked with my gold refiner, Dan, to cover every aspect you need to know.

Dan has been buying and selling gold, diamonds, and jewelry for over 40 years! Last year his business bought and sold Millions of dollars in gold!! He knows everything there is to know about the business and is known for being extremely honest and always fair to his customers.

Whether you want more money to carry out your dreams in life or are retired and want extra income and a fun part-time business to run, I’ll show you exactly how to do it.

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It’s even possible to make this a full-time business for those of you who hate the drudgery of the 9-5 grind.

As many of you might have realized or are starting to realize, it’s not just how much you make but how much time you have to enjoy it. If you’re working 50-70 hrs a week it may not matter that you make 80K-100K because you don’t have the time to do what you truly enjoy.

The first week I decided to start buying and selling gold, I placed two ads on Craigslist, spent six hours meeting with people, and made $1100 profit. I know its not some outrageous amount but I had the rest of the week to do whatever I wanted and when I did work I was making $183 an hour!

I truly hope the knowledge I provide you in this ebook will bring you the same results if not better, so you can free up your time and start living life to the fullest.

So Lets Get Started!

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Why Is Buying Scrap Gold a Great Business?

Gold has been the symbol of a nation’s power since it first became a common form of currency several thousand years ago. With gold at an all time high, there really couldn’t be a better time in history to be purchasing scrap gold.

As I’m writing this, gold is not far from its all-time record high of $1900 an ounce!!

When you combine this with our poor economy and the high number of individuals whose finances are in trouble, it is no wonder why so many are willing to part with their jewelry.

I recently read an article in a magazine for jewelers that stated they estimate Americans are selling over $50 million in scrap gold A WEEK. This is a truly ASTRONOMICAL number but should be inspiration to those of you who think you might have missed the boom.

This business requires very little equipment (I list every piece of equipment needed or recommended and why in the next section), low overhead, and is very flexible.

That means you can pick the hours you want to work! The thing about it is, most people enjoy it (and their MASSIVE profits!) so much, they willingly spend more time working on their business, and are even more successful because of it.

Whether you want this to become your full time job, or are just looking for some extra cash, you’ll be hard pressed to find another business as flexible and profitable as purchasing scrap gold.

I’ve mentioned how profitable this can be, but let me give you a real-life example that you will certainly experience as well.

When I first decided to buy scrap, I was advertising through word of mouth and Craigslist. I had scheduled to meet with someone at their house on a Saturday afternoon in a near by town. I always find it exciting when I’m on my way to meet someone not knowing if they are going to have one piece or ten pieces of jewelry.

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I pull up to this lady’s house and see her garage door open. She is working on some home improvement project. She was dressed in a baseball jersey and didn’t seem to have many feminine features and my first impression was, “Oh well, whatever I make is better than nothing.”

By the time we were through, I had paid her roughly $700 and I had a potential profit of $400 for about an hour of “work”. This included a couple of rings, a couple of necklaces, and a bracelet.

Once you get into this, you’ll see that it doesn’t take many pieces of jewelry to make $200-$400 profit from just one deal.

Of course, there’s no way anyone can promise that you’ll make a certain amount of money for putting in X number of hours. Buying gold is full of uncertainty. Some individuals will have $10 worth of gold and others will have $2000. You never know what they are going to have and what they will be willing to sell.

I expect right now your asking yourself,

“Why doesn’t he just ask them what they have?”

The truth is, many people simply do not know. I have some people who tell me they have three rings, four chains, and a bracelet and when I arrive, all but one item is costume jewelry.

Others say they only have one item and when you arrive they decide to sell more of their jewelry or thought something was costume and find out it isn’t.

I believe this is the greatest part of the business; it’s just so much fun to venture out to people’s homes and see what treasures they might have.

Page 9: How to Buy & Sell Gold

The Price of Gold

Below is a graph showing the price of gold from 2002 to 2012. It quickly shows that gold is higher than it has ever been before.

Some of you might be wondering why gold is so high. Many of your potential customers will also ask you the same question.

Although there are many factors that affect the gold price, one of the major ones is the strength of the US dollar, historically, and how it’s weakening.

The US dollar used to be backed by the “gold standard”. With this system, the value of our currency was defined in terms of gold, for which it could be exchanged.

In 1971, under President Nixon, the US moved off the gold standard. The US dollar is now a form of “fiat currency”. This means our cash is simply government-issued and isn’t convertible by law to any other thing.

The more US dollars that the government prints, the less it’s worth. And over the past several years, they’ve been printing it non-stop.

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So recently, the US dollar has been losing more and more strength in the global market.

And we’re seeing this play out in the continual rise of the price of gold. Simply put, the lower the US dollar goes, the higher the value of gold goes.

Like I said, there are others factors, but this is a major if not the major factor.

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Recommended Equipment:

Here’s a list of all the equipment I bring with me when I am out buying gold at parties or in a one on one meeting:

• Gold Testing Kit - Electronic or Acid• Digital Pocket Scale - should have grams and pennyweights • Loupe - nice quality 10x magnification• Stone Tweezers - not necessary, but are cheap and nice to have• Jewelers Snippers - cuts prongs holding stones• Rare Earth Magnets • Calculator - self-explanatory• Receipt Book • Briefcase - looks professional and keeps your equipment together

Even though these are all useful items, you could actually start buying gold with only four of the items above. The essential equipment is a gold tester, electronic or acid, a scale, a loupe, and a calculator.

With these four simple items you can start making thousands of dollars in your spare time.

Technically, all you need is an acid test and scale to buy gold. But it’s a very good idea to have a loupe so you can read the karat gold stamp on the jewelry and compare it to your

acid test.

If a ring has a 14K stamp and it tests to be 14K with your gold tester, then you can be fairly sure it is gold.

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I’ve read other manuals that never mention a loupe, and I find it crazy not to have one. It’s such a small thing to have to guarantee your test.

I also recommend a calculator to make sure your calculations are correct. This can be

purchased for as little as a dollar and most people already have one.

To start, I also recommend buying an acid test kit. It is very easy to use and much cheaper than an electronic tester. Wait till you have some experience and have made some money

to decide if you want to upgrade to an electronic tester.

One last note on equipment- the jewelry snippers are very helpful as you do more and more deals.

If someone has a really nice stone in a ring that they would like to keep you need to have some way of getting it out safely and easily. If not, you most likely will lose the deal unless you want to buy the stone.

Jewelry snippers have smaller cutting tips and are sharper but very similar to wire clippers in your toolbox. These can be found at a local bead shop or a jewelry store would most likely be willing to order you a pair.

For your benefit, I’ve packaged all of this essential equipment together at an insane package price. You can find out more information by visiting TheGoldVideo.com.

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Karat Stamps

Most karat gold is stamped by the manufacturer. These stamps can generally be trusted, but should be used as verification and not solely relied on.

You should always compare the stamp with the test results to make sure they match.

I cannot stress enough how important it is to be thorough in evaluating and testing every item. Using a gold tester, you can figure out if the item is gold plated or solid gold and the karat of the gold.

I have been working in independently owned custom jewelry stores for the last four years and I still have some pieces that will occasionally fool me. This is why it is essential you purchase and use a gold tester on every piece that you purchase.

What does 14K actually mean?

As you may already know, pure gold is said to have a purity of .999 also called 24 karat gold and is not used in jewelry because it’s too soft.

Alloys such as copper, silver, nickel, and palladium are used to alloy gold making it harder and more durable for use in jewelry. To understand what 14K means view it as a fraction:

14/24=.583, this means that 14K gold should have 58.3% of gold and the other 41.7% are alloys such as copper and silver.

10K/24K= .416 (common in lower end jewelry in America)14K/24K= .583 (most common karat used for jewelry in America)16K/24K= .667 (dental gold, such as crowns)18K/24K= .750 (higher karat but still durable used in fine jewelry)22K/24K= .916 (generally only found in pieces from India or the Middle East)23K/24K= .958 (generally only found in pieces from India or the Middle East)

Common Stamps 9k or 33310k or 41614k or 58518k or 750Plat

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These are the most common stamps you will see but are not all of them. For the most part 10K and 14K will be 80% of what you purchase, as it is the most common karat of gold used in the United States.

You’ll come across some, if not a lot of dental gold, which are generally 16K gold. I am not sure why dentists use 16K instead of 14K or 18K but they do not make an acid for testing 16K.

My suggestion? Either purchase an electronic tester because it will tell you or pay a 14K price to be on the safe side.

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Testing the Gold

As mentioned, there are two ways of testing gold- using bottled acid or an electronic gold tester. Since it is much cheaper to purchase and quite reliable I am going to only go over how to use the bottled acids.

Also the electronic testers come with very detailed instructions on how to use them and the bottle acid often lack good instructions.

First, you want to take your black rubbing stone and firmly rub the scrap gold (ring, bracelet,etc.) on the stone, making visible gold markings on the stone.

Then, take the acid you believe the gold to be, so if it is stamped 14K use the 14K acid, if it is unmarked start with the 14K acid.

Place just one drop of acid on the mark on the stone. If the piece is solid 14K gold, the acid will have no effect on the mark and will look like a drop of water on the stone. If the mark dissolves away then you need to test to see if it is 10K gold or gold-filled.

Apply the 10K acid to an unused portion of the mark on the stone. Unlike 14K, if the item is 10K gold it will turn a brownish color but it still won’t dissolve away.

There are several techniques you should use to verify that what you are buying is gold:

1. Gold Plating Test

Some items have very thick gold plating, which can sometimes fool the acid and make you believe the item is gold when it is only gold-filled. To prevent this, take a small file and file a little notch into the scrap item and place a drop of acid directly on the notch.

If it turns green and bubbles, it is not gold. It is most likely copper plated with gold.

However, if nothing happens, it is 10K, 14K, or 18K this is determined by what acid you used.

In my membership site found at TheGoldVideo.com, you will receive detailed testing instructions with your kit that will provide more instruction.

2. Magnet Test

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Gold is not magnetic. By running a strong rare earth magnet over the scrap pieces you can quickly eliminate any pieces that are not gold if it is attracted to the magnet. If a piece is attracted to the magnet, it is most likely a base metal that has been plated with gold.

3. Needle Test

The last piece of advice I have to ensure you are testing correctly and that the scrap is the correct karat of gold is to buy gold test needles. A set of needles including 10K, 14K, 18K, and 22K runs about $50.

To use the needles, rub the scrap item on the stone and then rub the needle that is the karat of gold you believe the scrap to be next to it. Place a drop of the corresponding acid on both marking and compare the results.

They should be pretty much the same and the scrap should not look much different than your known karat gold marking. If the acid reacts very differently between the two markings, more testing is necessary to determine what karat of gold the scrap is.

Many people do not use test needles. It is entirely up to you and how thorough you want to be. I want to provide you with the knowledge and let you decide what works best for yourself.

But by looking at the karat gold stamp, acid testing it, testing the filed spot, and running a magnet over the item you should feel very secure that if all those match up the item is gold.

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Testing Silver

While the primary precious metal you will deal with is obviously gold, you’ll also come across a fair amount of silver.

In order to test the silver, I usually do the following:

First, check your silver for any markings. If your piece of silver is marked "Sterling" followed by a number, you’ll know what the piece is supposed to be. If it item says .975, then its purity level is 97.5 percent or if it has .925 written on it then its purity level is 92.5 percent.

But, just like gold above, you always need to test before you buy.

To test for Sterling Silver, take a file and file a fairly deep notch in the piece and place a drop of silver acid in the notch.

As mentioned above, if it bubbles green then it is copper and is only silver-plated.

If it is a cream color, gray, of even a light green it has some percentage of silver in it.

Cream – 90% - 100%Gray – 75% - 90% Lt. Grn. 65% - 75%

If the test shows the same as the marking, then you can be certain it’s correct. If the test does not match up, or there is no marking, always be weary and never pay more than you’re sure it’s worth.

Always remember, you have the right to refuse any piece. While you want to be as fair and equitable as possible, this is your business.

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Weighing the Scrap

You’ll need a digital pocket scale to weigh your scrap gold. These are very reasonably priced but you need to make sure it weighs pennyweights and grams.

I prefer a scale that measures to 0.01 grams but one that weighs only to 0.1 grams is okay and is usually eight to ten dollars cheaper.

To use the scale, turn it on and wait till the screen reads 0.00 and then it is a good idea to “Tare” the scale. Taring the scale simply means resetting the it to 0.00.

If you have many small pieces to weigh you can also get a small plastic container, put it on the scale and press Tare. This deducts the weight of the container and the scale will read 0.00 and then you can accurately weigh the scrap in the container.

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Promoting Your Business

So you now know how to test if a piece is gold, how to weigh it, and how much to pay. You feel confident and are excited to get started, but how are you going to get your name out there and start promoting your business?

There are numerous methods to promote your business but I suggest starting with the ones that are effective and don’t cost anything!

Like I mentioned before, I have worked at several independent jewelry stores over the last four years and have heard many stories about gold buyers.

The owner of the store where I most recently worked at told me a story about his good friend who used to buy and sell gold in the 80’s when it spiked.

This personable individual would go door to door with a small briefcase during the week from 6pm to 8:30pm. His average profit in the 80’s was $300 to $700 a night!

That was back when gold was nowhere near $1100 an ounce like it is at this moment.

You might be saying to yourself, well that was the 80’s and people were more trusting, things were different, or some other excuse.

The truth is, if you are knowledgeable (which you will be after reading this ebook), personable, and run your business ethically you will easily be able to see great results going door to door.

I know there are some of you who no matter how much you might make going door to door, you just cannot bring yourself to do that.

That’s completely fine.

So what else can you do that doesn’t cost anything but can produce an impressive response?

Online Ads

Nowadays there are so many other forms of media that you can leverage. For example, Craigslist is a fantastic place to start.

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I personally used Craigslist when I started and was getting 5-10 people a day setting up appointments to meet in my small town! As you can imagine this was very profitable for me and cost me absolutely nothing.

I would like to say that I was putting ads on Craigslist before others had started to put similar ads on. But, even though others have started to put ads on Craigslist, many of these individuals have very poor ads and do not know how to construct an ad that inspires people to respond.

So what makes a good ad?

If you’ve ever studied marketing then you know the importance of having an image in your ad. This will increase the number of people who contact you. I suggest finding a photo online or take your own of a pile of gold and money together, or just a large pile of scrap.

Do not underestimate the importance of taking this extra step to place a photo in your ad!

With this knowledge and my sample ad, you will have significantly better ads than anyone else.

Sample Ad (I have run this on Craigslist): TITLE: Sell your used, broken, or unwanted jewelry and get cash instantly!!

BODY: Don't send your gold in the mail, only to receive a fraction of what your gold is worth. I pay two to three times as much as nationally advertised companies, and will meet with you anywhere (your house, public place, etc.).

I have been in the industry for four years, and work for a local jeweler. With gold at $1140 an ounce NOW is the time to cash in. The market value of gold is constantly changing, but with gold at the highest it has EVER been, you will get the most for your used or broken jewelry.

For those who have jewelry with gemstones they want to keep, I have the tools to safely remove them while you wait.

Fast, easy, and safe transactions!!

For any questions or to set up an appointment call/email Matt

Email: [email protected]

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Cell: 555-555-5555

(Photo!! Or two, or three)

Another technique to use on Craigslist is to search for people in your area trying to sell their jewelry.

Send them an ad stating that if they do not have success in selling their item you will be happy to meet and immediately purchase their ring, bracelet, etc. Here is a sample ad I have sent to people:

Hello,

If you want to move this ring fast and get quick cash, I’d be happy to meet with you to purchase your ring based on the value of the gold it contains. I pay a much higher percentage for your gold than the nationally advertised companies.

Thank you for your time, feel free to call/email me back.

Best Regards, Matt Wallace 555-555-5555Corvallis, OR

This is just an example and by no means do I claim to be an expert at writing ads.

Try mine with your own twist and see what happens!

I just wanted to give you examples of ads I sent that received a positive response.

Newspaper Ads

Across the nation, communities, cities, and counties all have smaller circulations that advertise local businesses for a much smaller fee than a large circulation newspaper. These can produce ok results.

I am personally not a big fan of running newspaper ads because they are quite expensive and do not produce great results. However, jewelry stores run gold buying ads all the time and seem to get a fair amount of business from them.

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If you want give it a try and see what happens, but there are plenty of other ways to advertise more effectively.

Website!

If you are serious about making gold/jewelry buying your business than it would be a great idea to create a website for your business.

Today, there are numerous choices of companies that offer easy to use website building templates for a very minimal fee.

One company that I have come to like is 1&1 (1and1.com), they offer a free website builder and is only $10 a month for their basic package.

If you have zero website experience, or just want a drop-dead simple solution to get you up & runnin’ in about two minutes flat, I’ve already worked out an agreement with my hosting provider so you don’t have to go scouring the internet for the best deal.

You can get your Gold Buying website similar to the one below absolutely free when you sign up for my membership site at TheGoldVideo.com. All you’ll have to do is enter your contact information in the members area and you’ll have a great looking, customized Gold-Buying website instantly!

Talk about instant credibility. Your website will explain what you buy, how the process works, and answers everyone’s questions ... so you look like a total pro (even as you learn the business).

With your website up, you have everything you need to run an ad on Craigslist NOW and schedule your first gold buying appointment TONIGHT.

The thing to remember when you have your own website is you must be authentic. People will read through the BS almost instantly. Tell your story; inform people that you are local gold buyer who pays a very high percentage.

Let them know that you will weigh the item in front of them, look up the gold price at that time, and calculate what you can pay instantly.

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Also- to help build credibility and trust put your photo on your website, ask previous customers for a testimonial to put on your site or include with your marketing material.

Once you have your site up, I’d make a Facebook page for your new business and link it to your website. Ask all your Facebook friends to “like” your new business. This will help kickstart your site.

Partner With a Business

As your business grows, or for those of you who are the risk takers, there are some very exciting and new ways of creating business.

I highly suggest partnering with a local business that will allow you to run a two- or three-day gold buying event.

It really doesn’t matter what type of business you partner with. The important part here is that the place is easily accessed and has the capacity to accommodate a lot of people.

I’ve heard of a few events like this in my community. One was at a plant nursery and another in the parking lot of a strip mall!

You’ll have to give a portion of the profits to the business that you partner with. How much you give them is up to you and what you believe is fair percentage.

Although these events can be very successful, they require significant upfront costs. You’ll most likely need to make any or all of the following:

• Radio advertisements• Newspaper advertisements• Flyers• Banners

Plus, you’ll almost certainly need extra help to deal with customers because if they have to wait to long they will leave. Most individuals won’t wait more than ten minutes unless you have something entertaining or interactive to keep them happy while they wait.

If you aren’t completely competent at a large event like this, you’ll be very stressed and have a lot of problems, which is why I suggest running an event like this after you have been a gold buyer for a while.

Gold Parties!!!

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I have saved the best technique for last.

Yes, gold parties are incredible for making a lot of money very quickly, they are my personal favorite.

If tons of friends, or just know a few people who have tons of friends of their own, this is the best way for you to make hundreds even thousands of dollars in one evening.

Gold parties are events where you invite all of your friends over to your house and you get to purchase their gold.

Sounds simple?

It really is quite simple.

First, contact someone you know who is one of those very personable, well-connected people and ask them to host a gold party. You offer to give them 10% of the profits from the night if they’ll invite all their friends over who are likely to have unwanted or broken jewelry.

You can also create a host payment scale based on the amount of gold you buy.

The scale I use is given below in the “Info For Hosts” section and can be copied in your business.

Try to get the host to make some finger food items and provide some decent wine or champagne. Or, you can provide it and add it to the costs before dividing the profits.

Women absolutely love to attend gold parties because it’s like a Tupperware party where they get PAID!

Since the guests get paid for their jewelry there is no pressure on them to buy and people just relax and enjoy the event.

Gold Party Facts:

• Average attendance is about 6 but is between 4 and 10 guests • Pay guests 60%, host 10%, refiner 5% which means you make 25% profit • Party can run from an hour to three hours• Each guest will approximately have $250 worth of gold

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• For a party with 6 guests who bring $250 worth of gold, you would make $375 profit in and hour or two

From my experience, this tends to be the lowest you’ll make. There is often someone who brings a lot of gold and they alone can make your gold party successful.

Additionally, if you pay a smaller percentage such as 50% you can increase your profit to 35%. But be careful doing this, as many people are becoming savvy and will choose to not sell you their gold for 50% because they’ve heard of other places that pay more.

In my opinion gold parties are the BEST place to start your business, for two reasons:

1. Your first party is usually with family and friends who are patient with you during your first gold party.

2. You should make enough on your first party to pay for your investment in this business and make a PROFIT!! This will give you confidence and a little extra cash in your pocket to throw the next gold party. Here is an information sheet I provide to the host of the party along with information on a different page that can be given to potential partygoers

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Matt Wallace’s Home Gold Party Sponsored by Host Name

When: March ________ @ 5:30pm Where: Host’s House 123ABC St What To Expect: Drinks, Laughter, and to get paid while your partying! While you are socializing we will work individually with each partier to weigh and evaluate your jewelry and give you our offer!

• Bring all your unwanted or broken jewelry that you want to appraise or sell. • Bring everything!! Items that might be gold, jewelry with gemstones or • diamonds, silver, platinum, silverware, or any other item! • Talisman Jewelers has been a part of the Corvallis community for over 34 years and is

located in downtown Corvallis. • We pay high respectable amounts for your gold; we are not a traveling gold party. We

are part of your community too!!

Payout:

• Cash for amounts between $1-$500 • Check for amounts above $500 • In-store Credit – can be used towards repairs, jewelry, or custom jobs - Receive 10%

more for your gold if you choose in-store credit!

*Credits do not expire! Matt Wallace wants to ensure every customer is completely happy with their experience. We will hold your items for 7 days in case something comes up or you decide to buy your items back.

Matt Wallace is a professional that is not only trained in the areas of gold, silver, and platinum but is highly knowledgeable about diamonds and all other gemstones.

Info For Host:

• Plan 15mins per person• It’s a good idea to have finger foods, and drinks for the guest• Let everyone know we are a local business who has been around for 34 • years. We are highly respected and will treat every transaction fairly.• There is no limit to the number of people who can come, please just give us • an idea of how many are coming so we can properly plan.

If we buy:

$1,000-$2,500, you get $100 $2,501-$5,000, you get $300 $5,001-$7,500, you get $600 $7,501 or 10,000, you get $900 $10,000-$12,000, you get $1100 $12,001-$14,000, you get $1300 $14,001-$16,000, you get $1500

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The New Gold Party

I have come up with a new style of gold party that maximizes profits and customer experience perhaps more than a regular gold party:

If you are a small business owner and have a shoe store, jewelry store, or clothing store you can combine a gold party with an event in your store.

For example, invite everyone to your shoe store one night and tell them to bring their used, broken, or unwanted jewelry to receive top dollar for their gold and use it towards buying a new pair of shoes. Give everyone 10% off any pair of shoes, and give a 75% gold credit towards their new shoes.

This way you make money on the shoes and the gold!!

If they choose to just take cash for their gold pay 70% or 65% and let them know if they choose to trade their money can go much further.

So here is an example with numbers to make it clearer:

Customer has $400 worth of gold, you give $300 credit (75%) for in store purchases.

You have a pair of shoes that retail for $100, take 10% off making them $90.

These shoes most likely cost you $35, making your profit for each pair of shoes $55 (90-35=55). Say the customer buys three pairs of shoes.. You just made $265 profit!!

Whereas if you’d have just bought the gold you would make $100-$120. It becomes clear how you can increase your profit tremendously.

If you don’t own a store you can partner with a business.

Have them advertise the event and do the planning. You take the profit from the gold and the storeowner takes his profit from his product. This can save a lot of expense in advertising for you the gold buyer and save a lot of time. Most business run ads anyways and do not mind paying for all the advertising.

Besides, you are doing their customers a favor by offering such a high price for their metal and they get the shoes (or whatever else) at a discount.

Not sure if this will work?

Trust me, it does!

My sister, who I taught how to buy gold, partnered with her friend who owned a shoe store. Her friend sold quite a few pairs of shoes and my sister took home a nice profit for a couple short hours.

The real key is to be CREATIVE come up with something no one around you is doing.

Whatever you do, be fair with your customers as word of mouth is very powerful and you want to have your customers return.

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Many customers will only sell a few pieces initially but then decide later to sell more. If you screwed them the first time you can guarantee they are not coming back for a second!

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Success Tips: Becoming a Gold Buying Machine

Be professional!

Consider buying a polo or button up shirt and get it embroidered at a local shop in your town. The shirt and the embroidery should cost less than $50, but makes a great impression on customers.

Email lists

Think about people you know who work at big organizations, with big email lists!

My biggest gold parties come from someone who works for a company that might have 200 employees. They send an email saying they are having a gold party and ask if anyone would be interested.

Great method but often times people are skeptical so make sure the person emailing tells them you live locally and the sellers will have all your personal contact information. You can’t be too cautious.

If you’re looking for an easy way to get started with email marketing, I suggest MailChimp.

With MailChimp’s Forever Free plan, you can send 12,000 emails a month to a list of up to 2,000 subscribers, but there are a few features that are only available to users with paid accounts.

Testing, testing, testing!

Acid test the jewelry, look for its karat gold stamp, and see if it is magnetic!

The more tests you run the less likely you are to ever buy a piece that isn’t gold. I have made some costly mistakes and I want you to avoid those.

Chain Buying

If you’re buying a chain, it should have a stamp on the clasp and on the end of the chain!!

If it just has one stamp, be very cautious before you buy it.

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The Magic Equation

STUDY THIS AND MAKE SURE YOU KNOW IT!

You should always know precisely how much you should pay and what the market value of the gold is.

It is equally important you know how to calculate the value of the gold by hand and be able to determine how much to pay someone.

Since this is really just a mathematical equation, there are a couple of ways to arrive at the same number; I will show you how I calculate my offers to customers.

1. First, determine what the current gold market price is. A good website to find this out is www.kitco.com. So lets say gold is at $1000 an ounce.

2. Next, take the market price and divide it by 31.1, which is the number of grams in a Troy ounce. For the example, assume that the market price of gold is $1000.

1000/31.1=32.154 This means that one-gram of pure gold is worth $32.15.

3. Now weigh the piece or pieces of jewelry, making sure to weigh your 10k separately from your 14k and so on, as each karat has a different formula. For the example let’s say you have 12 grams of 14K gold.

4. In order to figure out how many grams of pure gold you have, take the 12 grams and multiply it by .55 for 14k gold. The reason for using .55 instead of .583 is because refiners will tell you they never get .583 percent of gold. There is a lot of “under-karating” as the industry calls it. Do this for all metals using .72 instead of .75 for 18k, and .39 instead of .417 for 10k. The rule of thumb is minus three percent from any karat.

12 x .55 = 6.60 5. Take the grams of pure gold (6.60 grams) and mulitply it by the market price ($32.15 per gram) and you have the total market value of the 14k gold.

6.60 x 32.15 = $212.19 worth of gold

Note: Refiners generally pay 95-97% of market; in this case a refiner would pay $201.58 at 95%. Some people choose to take 65% from the $201.58 that a refiner pays, it is up to you. The next section shows a different equation that takes this 95% into account.

6. Now if you are like me you will pay the customer 65% of the market value. So the customer will receive about $138 for their 14k gold and you have made about $74.

$212.19 x .65 = $137.92

Lets take a look at just the calculations without all the instructions

1. Find market price $1000

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2. 1000/31.1 = 32.15 3. 12 x .55 = 6.60 4. 6.60 x $32.15 = $212.19 5. $212.19 x .65 = $137.92

Now if math isn’t your thing, or if you just want to save a ton of time wasted calculating numbers, I’ve developed a Gold Profit Maximizer software app for your iPhone, Android, or laptop. To get access go to TheGoldVideo.com.

Formula for Price per Gram/Pennyweight

The 95% is what most refiners will pay, so if you have $1000 in gold they will give you $950.

Even though 10k gold is technically .416 percent gold, “under-karating” is very common with most gold, therefore it is wise to multiply by .38 for 10k.

10K

Gold Price x 95% x 38% = Ounce $ of 10k, divide by 20 = DWT. Price (pennyweight)

Example: 1100 x 95% =1045 x 38% =397.10 per ounce / 20 = $19.85 $19.85 price refiner will pay per pennyweight of 10k. $19.85 x .65 = $12.90 per pennyweight is what you pay the customer

Gold Price x 95% x 38% = Ounce $ of 10k, divide by 31.1 = Gram Price

Example: 1100 x 95% =1045 x 38% = $397.10 per ounce / 31.1 = $12.77

$12.77 price refiner will pay per gram of 10k. $12.77 x .65 = $8.30 per gram is what you pay the customer

14K

Gold Price x 95% x 55% = Ounce $ of 14k, divide by 20 = DWT. Price (pennyweight)

Example: 1100 x 95% =1045 x 55% = $574.75 per ounce / 20 = $28.74

$28.74 price refiner will pay per pennyweight of 14k. $28.74 x .65 = $18.68 per pennyweight is what you pay the customer

Gold Price x 95% x 55% = Ounce $ of 14k, divide by 31.1 = Gram Price

Example: 1100 x 95% =1045 x 55% =$574.75 per ounce / 31.1 = $18.48

$18.48 price refiner will pay per gram of 14k. $18.48 x .65 = $12.01 per gram is what you pay the customer 18K Gold Price x 95% x 72% = Ounce $ of 18k, divide by 20 = DWT. Price (pennyweight)

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Example: 1100 x 95% =1045 x 72% = $752.40 per ounce / 20 = $37.62

$37.62 price refiner will pay per pennyweight of 18k. $37.62 x .65 = $24.45 per pennyweight is what you pay the customer

Gold Price x 95% x 72% = Ounce $ of 18k, divide by 31.1 = Gram Price

Example: 1100 x 95% =1045 x 72% =$752.40 per ounce / 31.1 = $24.19

$24.19 price refiner will pay per gram of 18k. $24.19 x .65 = $15.72 per gram is what you pay the customer

Quick Conversion References

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Conversion Table of Ounces to Grams to Pennyweights

Page 34: How to Buy & Sell Gold

Flipping & Getting Paid

Now for the best part- flipping that gold and getting PAID!

You’ve bought the gold, now you need to sell it and profit.

When choosing a refiner, it’s very important to find a respectable refiner. Here some things to consider:

• Speed of Payment• Stated Payout Percentages• Settlement Type• Customer Service

For most people, the biggest drawback to working with refiners is the speed of payment. No matter what, refiners are going to take anywhere from one week to one month to process your payment.

The good thing is, when it does come, you’ll be getting the maximum profit for your items.

But before you ever send your gold you should do your best to calculate exactly how much you have.

You can do it by hand or by using my Gold Profit Maximizer app I developed. It’s just another perk of going to TheGoldVideo.com and becoming a member. It’s saved me a boatload of time. The app is preprogrammed to deduct the 5% most refiner take. So after inputting your weights, it tells you the total market value of your items.

If you work with a respectable refiner then the number that you, or my app, calculates will be very close to what you get paid.

I suggest that if you send your gold to one refiner and feel that you didn’t get back as much as you thought you should try sending it to another next time and see if you are more satisfied.

Down below I’ve provided three refiners’ information and the pros and cons of each.

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But first, let me give you another option.

You see, there are two types of people who profit from buying and selling gold...

(1) Those with a lot of money to work with(2) Those with very little money to work with

The good news is my system & everything I have written about in this ebook works for both types of people.

The bad news is it works at different speeds.

People with access to lots of cash can buy as much gold as they want. It doesn't matter that the refiner takes 4-6 weeks to pay them because they have plenty of cash to float. This allows them to ramp up their gold-buying business very very quickly.

But if you DON'T have access to a mountain of cash, you’re limited to how much gold you can buy at first.

Example ...

Let's say you have $200 discretionary funds available.

You go out and do a few different things I’ve told you to do, and voilá ... you find a gold necklace worth $500 that you are able to buy for $200 - hallelujah! You'd crack open a bottle of champagne to celebrate, except for now.. you're broke!

You have to send that gold chain to one of the refiners below ... and wait impatiently for up to a month or so to both recoup your two hundred bucks AND your $300 profit. Then, and only then, can you go hunting for more gold.

Not the worst thing in the world, but ...

Why wait?

What if there was a way to get your money in 24 hours, instead of ... 1,000 hours?

Well there is ...

Simply partner with me.

Now what’s the advantage in selling your gold to me?

Like I said above, refiners can take up to a month to process your payment. While you’re waiting & hoping for the best- hoping that the price of gold stays the same or keeps climbing.

But that wait can be excruciating. And the price of gold could even go down while you’re waiting.

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If you send your gold to me, you’ll get your payment in 24 hours. Your payment, at that day’s market value, will be on it’s way right back to you via PayPal or check sent with express mail within one day.

And the quicker you flip your gold, the quicker you can use your profits to grow your business.

I do only offer this Cash On Demand option to my members. But if you want more details, you’ll have to go to TheGoldVideo.com & become a member.

Now if you decide to sell your gold to a refiner, here are a few I recommend:

Refiner #1: Northern Refineries 29509 Sierra Point Circle Framington Hills, MI 48331 (248) 231-2800 http://www.northernrefineries.com/

Stated Payout: Gold - 95% of value of the gold spot Silver - 90% of value of silver spot

Pros: - Outstanding customer service. Family Owned. Ask for “Stuart.” - Fast Wiring Capabilities - Superior Settlement Statement - Offers Settlement in Check or Bullion - Any fake items are taken out are Fed-Ex returned with no charge.

Cons: - 10-20 day period from time gold is mailed to time check is received back - Settlement in Bullion is not always available

Refiner #2:

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Midwest Refineries, LLC 4471 Forest Ave. Waterford, MI 48328 1800-356-2955 http://www.midwestrefineries.com/

Stated Payout: Gold - 95% of value of the gold spot Silver - 90% of value of silver spot

Pros: - Fast Wiring Capabilities - Average Settlement Statement - Offers Settlement in Check or Bullion- 7-10 day period from time gold is mailed to time check is received back

Cons: - Mediocre Customer Service - Settlement in Bullion is not always available- Sometimes gold plated or gold filled are removed from payout (Picture of removed items are included with settlement statement). They are not returned. We prefer a return of any item that is not real.

Special Note: Both Midwest and Northern have a “stated” 95% settlement amount. However, we have found time and time again, that Northern’s settlement checks are consistently higher than Midwest’s. We encourage you to experiment in small amounts with both to confirm.

Refiner #3:

Mid-States Recycling 1841 Busse Highway Des Plaines, IL 60016 (800) 551-0083 http://www.midstatesrecycling.com

Stated Payout: Gold - 98% of value of the gold spot Silver – Check their website

Pros: - Excellent if you are refining large amounts of gold - Great Settlement % - Offers Settlement in Check or Bullion

Cons: - Extra paperwork required in order to establish business relationship with Mid- States.

Patriot Act documentation required, as well as proof of precious metals business license in order to receive bullion back in the mail. A PM business license can be obtained through the Secretary of State in the state in which you do business.

- NOT COST EFFICIENT IF YOUR SHIPMENTS ARE LESS THAN 10-12 OUNCES EACH. Please review their website. As a high % payout refiner, extra fees are attached to each incoming shipment. If shipments are under 10oz, they charge .25 oz fee plus $100.

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This can easily reach $500 depending on the spot price of gold. Please verify any updates they have to their payment policies by calling them.

Additional Refiners:

Alanson 1325 East Saint Gortrude Place Santa Ana, CA 92705 www.Almanon.com 1-800-626-6630 Albar 1701 Blount Road Pompano Beach, FL 33069 www.AlbarMetals.com (Provide free FedEx pickup)

Argen Corp. 54855 Oberlin Dr. San Diego, CA 92121 www.Argen.com 1-866-479-6807

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Next Steps

It’s my hope that you’ve gotten infinitely more value from this ebook than you paid for it.

If that’s the case, please do a few things right now ...

Thing #1: Help spread the word by “liking” me on Facebook.

Thing #2: Leave a positive review of this book!

Thing #3: THE MOST IMPORTANT THING. Check out TheGoldVideo.com

I think you’d agree that I laid out a lot for you in this book.

But an ebook can only do so much. That’s why I created my training course.

It’s a Step-by-Step, Online, On-Demand Video Training Series where I’ve put together every up-to-date resource you could need in one place.

Here are just a few of the benefits ...

1. Your Very Own Gold-Buying Website to Start Generating Appointments Immediately

Talk about instant credibility. Your website explains what you buy, how the process works, and answers everyone’s questions ... so you look like a total pro (even as you learn the business)

With this site, you have everything you need to run an ad on Craigslist NOW and schedule your first gold buying appointment TONIGHT.

2. The Gold Profit Maximizer Software App

Take this with you to every one of your gold buying appointments. Simply enter the gold, silver, or platinum items people bring you and the app tell you exactly how much to offer and your profit instantly. It takes every ounce of math & guesswork out of the gold buying process.

Page 40: How to Buy & Sell Gold

3. All the Forms & Paperwork You’ll Need to make each gold buy “official” and give your customers total confidence in you. Along with step-by-step instructions on how to fill everything out.

4. A 7-Step Quick Start Guide to Help You Secure Your First Gold Deal in the Next 7 Days

This guide will give you total confidence to make this gold flipping thing happen! It breats the whole process down into a simple cookie-cutter steps. Just do this .. do this .. do this .. get paid.

And if that’s not enough ...

I’ll give you one full year of personal support.

That’s right, you’ll have direct access to me for a full 365 days. I’ll answer your questions personally if anything is unclear in the training or if you hit any snags along the way.

How’s that for service?!?

Thank you so much for reading this ebook and for checking out TheGoldVideo.com. Remember if you’re not yet a member hurry and sign up as there’s a ton more resources inside.

Page 41: How to Buy & Sell Gold

TheGoldVideo.comPO Box 48617

Tampa, Florida 33606Website: http://www.TheGoldVideo.com

E-Mail

Page 42: How to Buy & Sell Gold