STRATEGY 2

 

Let’s step it up!  Let’s make even more money . . . every month!!!

Millions upon millions of dollars in silver items are floating around in virtually all countries around the world.

The good thing for you is that very few have the knowledge on what to do with them or how to make money with them.  This section will give you that knowledge of how and what to buy and how and where to sell.

LOOK AROUND YOU

There is sterling silver in many items . . . silverware; coffee/tea pots; ashtrays; serving trays; jewelry of all types; candle holders; mugs; and many other items such as collectibles:

You will be dealing with two types of individuals in this arena . . . mostly non-professional when you buy and mostly professionals when you sell.  The good news is that you’re becoming a professional in knowledge with this newsletter

 

WHERE TO LOOK

Wherever things are sold for a bargain is where you should start

        1. Salvation Army; Goodwill, St. Vincent De Paul and independent thrift stores

These are wonderful places to look . . . often workers place donations on shelves without the knowledge of what they are.  I believe thousands of items are donated, placed on shelves and bought every                week without anyone, donator, seller or buyer, knowing the true value of that item.

  1.   Flea Markets, Pulgas, or Outdoor Markets

    A great place to buy silver items cheap!  In most areas there are several flea markets or outdoor markets.  Most operate Saturday and Sunday with some open Friday or Monday or even all week.  Some are very large, so you need a system on how to maximize your time and minimize your efforts.  Most have indoor vendors and outdoor vendors.  Indoor vendors are usually store owners.  They are there every week and this is their business and they tend to be more knowledgeable.  Outside vendors are mostly individuals who need to raise some money and have some items they’re going to sell that they don’t need to keep any more.  Frequently, you find silver items here at bargain prices.

  2. Garage Sales:

    There are usually plenty to pick from all over your town or city.  Visit as many as you can, so don’t stay too long in one place.

  1. Estate Sale

    An estate sale is often where the family is selling off the items of a loved one that has passed already or has been placed in a care facility.  The family wants to raise money to help pay medical bills or increase their inheritance.  This is usually done by holding an auction.  You will be given a chance to bid and the highest bidder gets to buy the item.  Make sure you go early and check the silver examination check points.  Look for items marked Sterling.

  2. Block Party Sales.

  3. Church Bazaar Sales.

  1. Fundraisers.

  2. Look Everywhere

    . . . silver is out there . . . cheap!

Just go with knowledge and confidence and enjoy “Shopping Therapy Our Way”.

Happy Treasure Hunting!

Make yourself a list of all the places in the categories shown above.  You will have more than enough places to keep you busy.  Don’t forget to check your own house; your parents; family; friends; the list is endless.  Use your own imagination.  Help yourself.

4 Ways to Know if Silver is Real or Fake

  1. Usually, on the back side of silverware, forks, spoons, knives, teapots and coffee pots, decorative items, trays, jewelry, etc. is a mark.  If it says sterling . . . it’s real silver.
  2. If it says stainless – it’s not silver.  While there can be some value in stainless, unless you can hold it for the long term, it’s not worth tying your money up over.
  3. The feel. Once you’ve handled enough silver items you will begin to get what I call the “feel” for it.  How it looks, the weight, the shine, the design, etc.
  4. The only way to officially tell is thru an acid test. If it’s not there when you look for it, it will be there be soon. The professionals at the gold and coin shop, or at pawn shops can help you, but in all honesty, the smelter is the final decision maker.  This is who the professionals sell to.

 

HOW TO TELL IF SILVER IS REAL

First, let’s make a smart decision.  Whether you are shopping for fun, as part of our grief shopping therapy program, or as a hobbyist, or you want to become a silver professional and make money, and eventually create wealth, you need knowledge about silver.  You need to have the same knowledge as the professionals.  So, you know how to buy right and know what your item sill be worth when you decide to sell it.

This formula works on all sterling silver products.

*In any item, the industry standard for sterling silver contains precisely 92.5% silver by mass.  This will give you the melt value versus any collectible value.

*An example:  Silver Tea Pot You put the silver tea pot (or for, spoon, knife, ash tray, serving tray, etc.) on a small scale you carry with you.  (These jewelry scales are available at Amazon.com.) Let’s say it                  weighs 18 ounces.  Since it is sterling, 92.5% of the weight is silver or 16.65 ounces of silver.  The calculation looks like this: 18 ounces (item weight) x .925 (silver content) = 16.65 silver weight.

*The melt value of any sterling silver item = 16.65 ounces of silver x the current price of silver ($18.85 spot price, at the time of this article) = $313.85 USD. (United States Dollars)

*There are so many items in every country laying around waiting for someone who has the knowledge to pick them up and make money with them. You now have the knowledge.

*The professionals try to only buy real silver. Since there are so many crooks trying to sell fake silver as real the professionals have a trick they use to guarantee they only buy the real stuff.  You can use this            trick also, because I’m going to show you how.

*Carry a small magnet with you in your purse or pocket. (but keep it away from bank or credit cards, the magnet will make the strip on the back of the cards unreadable to any ATM or cash register).

*Examine the item to find the “sterling” mark.

*Determine the price you are willing to pay, using the knowledge we’ve already given you.

*Before you buy it, take out your magnet and touch it in different spots. If the item sticks to the magnet – IT’S NOT REAL SILVER.  It is fake silver.

*If it doesn’t stick – it’s probably real.  Silver is a non-ferrous material, meaning that it is non-magnetic.  If it sticks to the magnet it is stainless steel that is highly polished to look like silver.

You should feel very knowledgeable now.  If you decide to go on a silver treasure hunt, just for fun or with a plan to make money, or both, you’re ready now.  You are now equipped with professional knowledge.

Please share your successes with us because if you use our knowledge you should have no failures.

Beware!  Unfortunately, there are many crooks out there who will try to take advantage.  Follow our guidelines and use knowledge and experience to protect yourself.  We can only give you our research.  We can’t evaluate individual deals.

Where and How to Sell . . . How Much?

Millions of dollars pass thru the hands of Pawn Shop owners every year.  They are one of the easiest places to sell to and they most often will pay you cash.  But, how do you know if you’re getting a fair deal?  Here is the knowledge you need to make you an expert negotiator.

Recently, I visited with a friend of mine.  He owned a pawn shop for many years.  I paid him a consultant fee to tell me how pawn shops make money.  What percentage of profit they must have to stay in business.  The knowledge you’re about to see is what they don’t want you to know.

How Pawn Shops Make Money on Silver

In professional circles all silver, you now know, is sold at spot price.  Spot price is determined by what someone is willing to pay for the silver and what someone is willing to sell the silver for.  Silver is bought/sold in the worldwide market place in the 100’s of millions if not multiple billions of dollars every day around the world.

Pawn Shops have what’s called “smelters” that buy their silver whenever they are ready to sell.  They usually buy it all the time and when they feel they have enough to sell they box it up and send it to a smelter.  The pawn shop gets paid normally around 97% of spot price.  The spot price is calculated at the time the smelter receives the product.  So, if the smelter receives $1,000 worth of silver from the pawn shop he will pay 97% or $970. for it.  Plus, the pawn shop owner will be out his/her shipping costs.

The pawn shop will get paid in several days or sometimes in several weeks.  (Remember this; it will be helpful in Strategy 3).

Now you know two more things.

  1. Silver sells at spot price all over the world.  It is the same price in every country, only adjusted for the currency value in your country.
  2. How the pawn shop makes money.

Next Step

Knowing these two things now makes you a knowledgeable seller.  Now you know how much you can negotiate for when you’re selling because you know his selling price.  Maybe you ask for 90% of spot.  Most pawn shops like to pay around 70%.  Remember one thing:  This is your silver.  This is your money.  The less percentage of spot you agree to the less money you make . . . You always have the option of going down the street to their competition.

Go to the next pawn shop and say: “I have these items.  They are all sterling and weigh x ounces.  They have 90% silver, so the silver weight is x.  I want 90% of the spot price.  You start from there.  That gives the pawn ship a 7% profit less shipping.  Not enough for some but will be accepted by others.

You have the knowledge.  You are in control of your own product.  Use it to your advantage.  “KNOWLEDGE IS POWER”!!  You can now make the best decisions with confidence because now you know something else you didn’t know, and most people still don’t know.

Gold and Coin Shops

This may be the easiest place for you to sell at the highest price.  Most cities, but not all towns, have them.  Metals of all kinds are their business.  Whereas pawn shops buy/sell many other things like TVs, lawn mowers, tools, etc. and must spread their money around, Gold and Coin dealers focus on precious metals as their business.  It can be bullion or collectible coins.  Most shops do both.  They sell to smelters in much the same way but deal in volume and therefore most often can pay you more.  Many times, they buy options to protect themselves if the silver price goes down but hold on to items and wait for the price to move up.  These are the true professionals in the precious metals industry.

I would encourage you to find one closest to you and make friends with them and establish an ongoing business relationship with them.  Agree what percentage they will pay you for all the items you find on an ongoing basis.  If you would like to use the one I use, he is honest and trustworthy.  He accepts products by mail.  See his address at the end of this article.

Remember, your knowledge . . .

Don’t agree to sell cheap even if you’re making a lot of profit.  You will set a pattern the buyer will expect from you in the future even if you paid more for the future item.

Keep in mind in Strategy 2 you need a little more cash and might well have to hold your items for a few days until you have time to get to a pawn shop or a gold and coin dealer to sell and get your profit.

I encourage you to start small.  Only use money you can hold for a little while if you buy to get the best price, which you should strive for.  (Go slow.  Even if you have days or weeks between the times your income arrives, and your mortgage or car payments become due.  Learn the facts and become more confident after a few successful smaller buy/sell transactions.)

It’s not too hard.  Just gain the experience you need before launching into bigger things.  Buy a few things and get your contacts to sell in place before you buy 50 or 100 things if you need to sell your items quickly.

How to Build Wealth with Silver . . .

Your knowledge is growing rapidly.  Now it’s time to create your own wealth building strategy.

Here’s how:

Though silver spot prices move up and down most every hour you know that as of this date in our research one once of troy silver will sell for roughly 13 plus x (times) the face value of US minted silver coins and some multiple of times on other silver items depending on what you pay for them.

TO CREATE WEALTH…..

for yourself using silver, you need to know two other things:

  1. Where you are financially right now.  Remember, the bill chart we asked you to create?  You should refer to it now.  If you didn’t take the time to do it then, please, do it now.  You will need it.
  2. Historically silver and gold sell at a ratio of about 64-72 to one.  In other words, it takes 64-72 ounces of silver to buy one ounce of gold.

This information will not only help you make money but build wealth.

HERE’S HOW

Let’s use an easy example for math purposes.

Suppose you found or obtain thru buying coins equaling $10 in US dollar face value.

If you sold one dollar of face value of those coins you would get paid the following, if silver is at the same $18.85 spot price it is as of the writing of this article.

Here’s how to calculate it:

$10 of face value of 90% pure silver US minted coins x roughly .714 x $10 FACE VALUE = 7.14 X18.85 = $134.58 OR $13.45 per US face value dollar

If you didn’t find any silver coins and had to get them by buying coins from the bank, here’s where you stand.

In our example you took all your coins back to the bank to get your money back.

If you kept $10 combined in face value of dimes, quarters, half dollars and/or silver dollars 90% silver US minted you now have a hard cost of $10 because you kept back $10 when you went back to the bank.  You had $500 value of US minted coins.  You kept back $10 in combined face value. The bank gives you back $490.  Now you decide.

It’s in your hands.  You could go back to the bank or any store, restaurant, etc. and spend the $10 based on the US federal government guarantee, or you could hold it.

Look at your bill chart.  How much money do you need right now?

Because you now have $10 in face value x 13.45 worth of silver in each dollar of face value.  So – $10 x 13.45 each = 134.50 worth of silver when the silver spot price is 18.85.

Recall from the earlier information we gave you that there is a historical average of a gold/silver ratio.  The ratio is 64-72.  In normal financial markets it takes 64-72 ounces of silver to buy one ounce of gold.  Keep this information in mind.  You will need it soon.  I just want to emphasize this again.

 

WEALTH BUILDERS

Jim Rickards, world famous US economist and attorney, a few months ago predicted gold is going to $10,000 an ounce in US dollars.  At the time many other US and world economists mocked him.  Some of them now, seeing the great financial collapse that is coming are saying US dollar prices per ounce of gold could be 2-3 times Mr. Rickard’s prediction.

Mr. Rickards is sought out for financial advice all over the world.  He and a handful of other specialists were asked to create a financial model that could predict and then prevent another terrorist attack.  They were successful, l but I am not privy to that information because it’s classified, but it shows you his credibility.

Remember this; I’ll come back to it.

What would your silver be worth if gold goes to $10,000?

For our purposes we split the gold/silver ratio in half and used 68 as our gold/silver ratio.  4 up from 64 and 4 down from 72 in the 64/72 Gold/Silver ratio.

Metals Prices/Ratio Spot Price at $68

 

 

Gold spot price divided by 68 (ratio average) x .714 (amount of .9999 silver in 90% silver coins) = face value of $1 in silver coins.

What does this mean to you . . .?

Think back about our example of finding $10 of face value 90% silver US minted coins.

In this example $10 in silver coins face value would be worth 10 x 13.88 per ounce using the new prices in our example for spot gold to spot pure silver or $138.80.  This is when gold is at $1,322 per troy ounce at .9999 fine (pure).  Check out potential future prices:

Imagine that!  With no more work – just holding on to $10 of face value 90% silver US minted coins – today in our example it’s worth $138.80 with gold at $1,322.  By just holding it when gold goes to $10,000 that same $10 is worth an incredible $1,049.99.  If gold goes to $15,000 your $10 in silver coins would be worth a whopping $1,575.00!

In the Gospel of Mark, chapter 4, 14-20 Jesus promises His followers if they sow seed carefully and the right way; they would receive a 30-fold; 60-fold; or 100-fold return.

This promise has been unrealized by, I would guess, more than 99% of all believers of all denominations.

But you can now be one of the successful ones!

 

If gold goes up to    =       Look at this

 

 

Amazing!!!  Right?

Who would’ve thought that someone struggling to pay their bills; living pay check to pay check; having to decide to buy food or pay their medical co-pays; who had no hope of retiring . . . NOW can not only potentially end their financial struggle but prosper in the immediate days ahead.  Financial chaos is coming but if you work hard at these strategies it won’t be a financial problem for you.  It will gain you wealth.  As chaos comes, driving up the price of gold and silver, your “free money” will be multiplied many times over.

We’re looking at 1 troy ounce of silver being $18.85 and moving up.  What if it temporarily goes down to $10.85?   This is unlikely, but for our example, let’s say it does.  What will my $1 in face value of silver coins be worth then?

Ok, let’s do the math.

$1 x .714 or one troy ounce of pure silver

Silver goes down in market price to $10.85

Your $1 face value of silver coins would have a spot silver value of .714 x 10.85 = $7.74.  That is still almost 8 times your money and that is still free money especially if you found it following Strategy One.  My bank currently pays 1/10th of 1% interest for a year on their savings account.  This means your one dollar pays you over 70 times more than the bank will pay in probably no more than days instead of a year.  Roll that same dollar over numerous times a year and just see how much more you’re making.  This will help you build long term wealth.

 

 

The gold and coin dealer I use is:

Johnny Appleseed

7714 North May Avenue
Oklahoma City, Oklahoma 73116

(405) 753-4473

www.johnnieappleseed.com

 

Author Profile

Lee Gilliam
Lee Gilliam
Lee is the co-founding designer of Overcoming Grief and author of 2 books and numerous articles. He has been in the ministry for over 40 years. He has traveled to over 80 countries and every state in the USA. His ministerial work involves both teaching and business. He is a mentor to pastors and business leaders alike. He is currently working on his upcoming international conference schedule and we will post it when it's ready. We hope you can attend one that will be close to you!! Please contact me at: leeg@overcominggrief.org