0
Where do companies like Cash for Gold take their gold and make a profit out of it?
Wiki User
∙ 13y ago
These companies are buying gold at a much lower cost per gram than the current gold scrap price. It is easy to sell gold at scrap - major wholesale gold buyers can be found with a little research on the internet. Some of the pieces they are buying at low scrap prices can be sold as quality jewellery - they do not distinguish between the two when paying their low prices.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
How does companies offering gold loans earn profit?
Companies offering gold loans charge a certain percentage as interest on a monthly basis. The mortgage for Gold Loans is Gold. Earning from interest income will lead to profitability.
What is the World Gold Council?
The World Gold Council is a non profit organization to promote and champion the use of gold. They try to increase the demand for gold on behalf of the major gold mining companies.
How do you know if your getting a good deal when trading gold for cash How much profit should the buyer be making?
Get a stock quote on the price of gold and you should get about 25% of that.
Is gold worth buying now to make money?
Yes! As you could extrapolate from the multitude of gold buyer advertisements, there is a lot of money to be made in the cash for gold business. Gold buyers can profit in any economy, but there has never been a better time than right now to get into gold buying.
How do you covert gold to cash?
You order a cash pack from one of the cash for gold services company's online, you send them your gold and they send you a check in the mail.
What did the people in the gold rush do with the gold?
Most people went to the gold traders to exchange their gold for cash, or they took it to the bank, where they would also exchange it for cash.
How do buyers make money buying gold?
Gold buyers (meaning the "cash for gold" guys) buy scrap gold and silver items below market value (25% or more below). Then they resell it at almost full market value to specific companies (not the companies you see on tv--those are just other gold buyers). They can also resell quality items back to the public above market value. The basic profit equation is much like any retail business. Sell Price - Buy Price = Profit Operating costs are also a factor. However, many gold and silver buyers are mobile, without a store/shop, so this cost is minimal. Market downturns don't play a big role because of gold buyers' large profit margin. On the other hand, the upturns gain them a little profit. It evens out over time. Visit the link below for a more detailed explanation of gold buyers.
Where can one exchange cash for gold?
One can exchange cash for gold at a number of local establishments in the area one is living in. One such place is AAA Gold Exchange, which offers cash for gold and other jewelry.
Where would one find a gold buyer if one has gold for sale?
It depends on how much gold or gold jewelry you have, I am telling you my experience on selling gold to the gold buyer is a good experience with 24karat, the price of gold you are getting depends on the purity of gold if the purity of gold is good you will take the better price from the gold buyers. If you want to sell gold silver or diamond I will recommend 24karat because they are giving great service to their customer and they have trained gold staff and they give good advice I get a good response from the gold expert and they provide the better value from the market.
Where is cash for gold located?
Cash for gold is located country wide. If you are looking for a cash for gold location to physically walk in to, using the local pages or Google + is a great resource. However, there are several great online databases for cash for gold. I have personally used cash for gold only once, and had a really great experience. Be careful though, and look for trust seals.
How many cash for gold businesses are there in Michigan?
There are an endless number of cash for gold businesses in Michigan including traditional brick and mortar companies and people that purchase these items from kiosks and homes. These items are also purchased through the internet as well.
What is the best way to sell gold?
Often online offers are higher than offers from local shops but the increased risk of sending something to an anonymous online retailer have to be observed. For a potential higher earning connected to a higher risk online websites can be used.
