[Jewelry making - Article 00243] - Re: [Orchid] How to value customer's scrap on trade

[diamondeddy2]

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    In taking payment from a refinery, also consider taking payment in
    gold coins, such as Krugerrands, Maple leafs, etc,, especially when
    the market is still trending to the upside, as you can still sell
    your coins later even easier than selling your scrap, as the coins do
    not require assaying before receiving payment. I think when I sell my
    next batch of scrap I am going to purchase a wax modeling machine
    with part of the payment, keep part in cash, and part in coins. I
    have been anticipating the recent uptick in the gold market for a
    couple years, so I have been stock piling scrap for a while. I end up
    with a lot of mtgs, broken chains & bracelets, from remount jobs,
    trade for work and jewelry, and just keep throwing it in coffee cans
    in the safe. I alot myself a set dollar amount per month that I will
    spend in cash on scrap purchases so that I dont interfere with my
    stores cashflow, since I was stockpiling the scrap. 

    Also make sure you are aware of your state and community laws on
    buying and selling 'used' merchandise, (pawn shop laws can apply
    here too) because as soon as word gets out that you are actively
    buying scrap, alot more sellers will begin to show up on your
    doorstep, and a fair amount of them will be offering goods from less
    than legal sources. You definitly do not want to be mixed up in any
    way shape or form in these sordid peoples stories when they go down. 

Ed in Kokomo

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