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Thread: Precious metals

  1. #1
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    Default Precious metals

    Does anyone here have a PM business?

  2. #2
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    Quote Originally Posted by Dentoro View Post
    Does anyone here have a PM business?
    I don't think there are any here at least to my knowledge but I've been trading in and out of gold and silver (stocks and physical) for two decades, perhaps I can help.

  3. #3
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    Do you know anything about the Australian EFT's? Pitfalls? They're being strongly pushed by a financial adviser.

  4. #4
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    Quote Originally Posted by GunsNLipstick View Post
    Do you know anything about the Australian EFT's? Pitfalls? They're being strongly pushed by a financial adviser.
    Any investing has it's pitfalls and as for EFT's, Australian in particular you might want to look into iShare funds, traded on the AMEX: EWA http://finance.yahoo.com/q/pr?s=EWA ( iShares MSCI Australia Index). It basically copies to a degree varied Australian stocks and is probably safer and easier to trade since it's on the AMEX.
    They seem to be very popular at this time but with the crisis in the global economy anything you buy into will be much more risky now.

    Exchange-Traded Funds (ETF) Center http://finance.yahoo.com/etf

  5. #5
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    I was thinking of starting a physical metals only business only and I am only in the reseach stage at this point. Wanted to start small and work it up because at this point I really need the job I have. So I was looking for some first hand experience to ask a few questions to. PM's are not really that big a marked here in Indy and I think if started and guided correctly with fairness and honesty someone has the chance to thrive. Most the coin shops around the area are shady and greedy. Anyway only a pipe dream at this point.

  6. #6
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    Quote Originally Posted by Dentoro View Post
    I was thinking of starting a physical metals only business only and I am only in the reseach stage at this point. Wanted to start small and work it up because at this point I really need the job I have. So I was looking for some first hand experience to ask a few questions to. PM's are not really that big a marked here in Indy and I think if started and guided correctly with fairness and honesty someone has the chance to thrive. Most the coin shops around the area are shady and greedy. Anyway only a pipe dream at this point.

    You've got more guts than me and I owned 3 businesses. I've never looked into that exact business, haven't seen much info on how to go about something like that. I know it would take large amount of money to start it though. You might also look into buying gold and silver jewelry from the public and selling it to large commercial buyers of precious metals. I've seen some local businesses do that but it wasn't all they did.
    I only heard of one place online that might or might not be of some interest to you.
    http://www.ciibbs.net/landing/sellgo...FSUqHgodm22ing

  7. #7

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    Quote Originally Posted by Dentoro View Post
    I was thinking of starting a physical metals only business only and I am only in the reseach stage at this point. Wanted to start small and work it up because at this point I really need the job I have. So I was looking for some first hand experience to ask a few questions to. PM's are not really that big a marked here in Indy and I think if started and guided correctly with fairness and honesty someone has the chance to thrive. Most the coin shops around the area are shady and greedy. Anyway only a pipe dream at this point.
    You're going to have a hard time coming up with any product to sell, I can tell you that.

  8. #8
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    +1 with GreyShark.

    I participate in an automatic PM buying program (a little each month) with Blanchard's, one of the big guys in the space. I got a notice this month from them that they will be discontinuing the program for Platinum. Apparently they can't get the stock to sell!

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