Mobile gold and jewelry buyer

You pay sellers such as people clearing out drawers, estates, downsizers and people needing quick cash. Your income comes from refiners, wholesalers and resellers who buy from you.

You earn the gap between what you pay sellers and what a refiner or reseller pays you. Margins per deal are thin and move with metal prices, so volume and accurate testing matter.

• Testing and grading gold, silver and stones
• Honest, clear negotiation
• Careful record keeping
• Personal safety awareness

• Many states and cities require a dealer license, ID records, holding periods and reports to police, so check local rules before buying anything
• Risk of buying stolen or fake items; always record seller ID and check your local rules
• Metal prices can fall between buying and selling, so avoid holding too much stock
• Carrying cash and valuables is a robbery risk, so meet in safe places and check security and insurance options
• Check IRS and federal cash reporting rules, and general liability and valuables insurance

Startup costs are typically estimated at around $3,000 to $20,000, depending on your testing and weighing equipment, the cash you keep for buying, and any insurance and security. Treat this as an estimate.

Monthly revenue is typically estimated at around $3,000 to $15,000, depending on how many appointments or events you run and the metal prices when you sell. Prices can fall between buying and selling, so avoid holding too much stock.

Check whether your state or city requires a dealer license, ID records, holding periods and police reports before buying anything. Always record seller ID, and check IRS and federal cash reporting rules plus liability and valuables insurance.