If you were to believe Greg Plummer from AbsoluteWealth.com, buying his Gold Profit Formula course will turn you into a scrap gold buyer expert, enabling you to buy junk gold at a third of its market price, attracting owners of valuable jewelry that will just come begging you to buy their collectible watch, sterling silver cutlery, gold earrings and bracelets, and please take that free ruby too. If that didn’t fire up your bullshit radar, then I don’t what will…
Although it is true that if you could buy scrap gold even at a small discount it would be an interesting business –with gold reaching all-time highs–, there is no such thing as a “jeweler’s loophole”, contrary to what the video presentation claims.
The “loophole” is simply buying others’ gold at a discount, which jewelers do every day. Unlike you though, they are knowledgeable experts in the analysis of jewelry.
Anyone with the motivation to learn how to buy scrap gold and silver, and make a business out of it, can find the information for free online.
“Gold Profit Formula” is reportedly a 4-hour interview with some mystery gold businessman. It also includes a list of references to get your personal business up and running, such as the highest paying and most trustworthy refiners in the word, the ten most valuable watches to look for. A formula for determining scrap value is also included, the video says (although if you want to learn how to value scrap gold, you could just as easily get that information for free).
In a nutshell, this course will teach you where to find scrap gold, how to test it, what to pay for it, and where to sell it. Though he MIGHT provide some accurate information involving jewelry scrap, do you really thing he could ALSO become an expert on precious stones or electronic scrap, just by listening to some guy’s story, sitting by the pool? It takes years of experience to become knowledgeable enough about these things to make it a business.
If such as system really worked, as he claims it does, then why would he be offering to sell the information and his personal Rolodex?
If you are still interested in buying this course, at least get it at the lowest possible price, you’ll do yourself a favor.