How To Scale Values And Calculate Weighted Average Of Tests Have a Gold Party!

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Have a Gold Party!

With gold prices at all time highs, the only question you can ask yourself is: How can I profit from it? One way is to send it to a store that offers to buy your gold for cash or sell it to jewelry stores and pawnbrokers. This is a great way to make a few quick bucks but for real income, the best solution is to host a gold party! So what exactly is a golden festival? These parties are similar to the Tupperware parties of the 80’s where the host invited their friends, family, or everyone else to their home or rental. These people come with old, broken, unwanted jewelry, jewelry, platinum and even sterling silver to make extra money.

Find or become a professional buyer
You can find a professional buyer online or a jeweler you know and trust. These buyers attend your event and pay you and your attendees with unwanted and old gold. Make sure the buyer is someone you know or from a reputable company or source. A good question to ask is if the buyer has their own company, is it certified, licensed, as well as the rate they will issue on their purchase. Most professional buyers offer between 25% – 60% of the gold price. As the host of these parties, you earn a commission on sales made. The typical commission for hosting these parties is around 10% of all sales. In addition, some companies will give you $25-$50 for providing food and drinks to guests. You can also sell your gold chips for profit. This can be a good bonus if you plan to host a one-time event but if you plan to throw more than one golden party or do business with it, I recommend you go professional.

Becoming a gold buyer isn’t rocket science, but it’s not easy either. Anyone with initiative and drive can learn how. You can even start your own hosting business and buy gold. There are many online resources as well as books that you can purchase to learn about the different colors of gold as well as how to calculate the cost per carat per gram. There are also seminars on buying gold that you can attend. If you want to know about these seminars, check your local newspaper or websites like Craigslist for more information. When you buy gold, you have to watch out for people trying to fake you, people will try to sell you plated or other fake gold and you have to be able to identify it. Once you’ve become a professional buyer, you can move on to the next section.

Get the tools
If you are using a professional, you do not need to read this section because the professional should have all the necessary equipment for gold testing. If you are looking to buy gold, read on.

The basic tools needed to start a gold ceremony are a gold tester (preferably one that tests up to 24 carats), a magnet, and a jewelry scale. A gold tester is a large machine to determine the karat number of a piece of gold. Since some gold testers can detect gold plated items, magnets can be used as a backup for determining gold plated. This is done by holding the magnet close to the gold. Gold is a soft metal and is not magnetic. If the stick is pure gold, it should not be attracted. If the magnet attracts the gold piece, suspect that it contains gold alloy or no gold at all. Jewelry scales are used to determine the weight of gold. Popular weights used for gold are troy ounces (ozt), grams (g) or pennyweights (dwt). Based on the actual gold price quoted for that particular day, you have to calculate how much to pay your customer for gold per gram or whatever unit you want.

Find a venue and theme for your party
Most gold ceremonies are held at the host’s home or depending on the number of guests; this can be done in a rented space. If you are planning to have this special event or if you are just inviting people you know, then having the party at your home is the best way to go. It is also the cheapest and easiest. Also, make sure you have a theme for the party. When defining a topic, make sure it’s something fun and something people will enjoy. Some of the guests may sell jewelry that has sentimental value to them and should feel comfortable doing so. Always serve drinks and food but don’t spend a lot of money to make a profit. Be a good host and be receptive to questions and concerns from your guests. Before you know it, your party will be the talk of the town.

Contact a gold refiner
So you’re wondering after buying all this gold, what am I going to do now? Well, most, if not all of these professional gold buyers after collecting the gold go on to sell it to refineries. What a gold refiner does is actually melt down the gold jewelry and use it in a different way. Why sell to refineries? On the other hand, they charge a higher interest rate than a gold trading company or a bank might charge you. Some refineries pay up to 98%. Do the research. Check any online directory or yellow pages for local cleaning in your area. Compare rates and decide which one pays the highest rate. One of the most prominent gold refiners is Republic Metals Corporation.

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