Do you remember the old saying, “There’s Gold In Them Hills?” The new saying should be, “There’s Gold In Them Houses.”
What I’m referring to are gold items that people own and are likely to sell if they only knew where to sell them. If you invest in gold, this is good news.
Last year there was over 1000 metric tons of scrap/used gold sold back to refineries. This translates into close to 30 billion dollars at the current spot gold prices.
How did this gold get from the public to the refinery?
As a gold investor you can be the middleman and buy the gold from the public. And based on the competition in your general area, which is likely very little, you can pretty much name your buying price.
It is not uncommon to buy scrap gold at prices well below spot gold price, usually below 50%.
With the price of gold at the high levels it has been recently, people are flocking to sell their unwanted gold items, that is if they know where to go to sell. In many areas there is no place to take scrap gold and exchange it for cash.
That is where you, the gold investor, comes into the picture. Simply get the word out that you buy gold and before you know it your phone will be ringing.
Once you buy several ounces of scrap gold you simply sell it to a refinery for a profit. If you chose to, you can take your profit in the form of gold bullion bars and coins.
Since your bullion was bought with the profit from the scrap, your investment gold was acquired for nothing, free!
Experts predict the amount of gold recycled in 2007 will double by 2009. If you want to own investment gold with no investment, now is the time to get started.