061009 Urban Gold Trader Network

[patrick258181]

I'm very interested but as of now I have absolutely nothing. I want to start now. Where is a good starting point?

[mustangjake2073]

@patrick258181 Even going to yardsales can start you off with as little as couple hundred bucks.

[secretscot]

Do you just trade in the US?

How could you you trade globally other than using the exchanges?

[keeganv]

nice man, starting to get some gold

[Arkeniel]

I've been collecting silver for a while now and have been trying to spread the word to as many people as possible. precious metals like gold silver and copper will always be worth physical money. keep up the good work - good luck and good hunting

[odin422]

i can create a gold party or two.....hmmmm

[gardeningalex]

I would like to join your network and start a offbranch in the SF Bay Area. Lets talk!

[stanakanats]

Current price for gold

$1052.88 an ounce!

[Steven6229]

I love gold and silver bullion, but im more of a silver bug than gold, but i will take both and Im into investing with silver and making a profit long run. I like that networking idea im more of turning it into a business than just for trade. btw bob goes good with bullion lol

[johncoolj]

hey how much is 63 grams of 9k gold worth ??

[mustangjake2073]

at 953 spot: 724.00.

[willowen01]

I was thinking the same thing! I could see buying at 90% or even 93% since you live close to refineries, but how can you make a good living doing that at such thin margins? You must have to buy truckloads! Please tell.

[TheUncleBastard]

how can you pay 95% and a referral fee for scrap that must be refined?

[johncoolj]

hey is it a good idea to buy gold and what do you see the price to ride too

[mustangjake2073]

My whole world revolves around gold and so far has produced only good results. I see the price the gold skyrocketing in the coming years.

[The212Group]

As far as starting out..how much currency should I invest to buy gold and silver off local people? Thx

[nenefea]

mj when r u doing a new video.

ur videos are like crack very addictive

[levij86]

Hi Mike,

Do you do this PM business fulltime? What kind of work did you do before you got into urban mining?

[mustangjake2073]

I do precious metals fulltime but I was a marketing officer at a bank before cashing out to do this.

[levij86]

Mike,

What other commodities do you advise to invest in, other than PM and tobacco? I love the urban trading concept......

[mustangjake2073]

Cooking and toiletry essentials. The prices on these rose 200% in the last year and no one seems to notice. Cooking oil in 2008: $1.99 1 quart. 2009: $3.99. Toilet paper has doubled so far.

[levij86]

Mike,

Thanks for the heads-up. When are you gonna post another video?

[32937isready]

What kt is the turtle and dow you want to sell it? How much?

[mustangjake2073]

24kt and not for sell. It's over 1 ounce for my personal collection.

[erviewer]

Hello Mike,

I am comparing the Tri Electroncis GT-3000 and the Golden Touch gold tester. Are you familiar with either of these? The Golden Touch does not require any gels or acids.

[mustangjake2073]

Golden touch is crap. Go with tri electronics.

[erviewer]

awesome, thanks

One more quick question.  The GT-4000 tests up to 24k. The 3000 goes up to 18k, I am still comparing these units, are you familiar with these enough to recommend one or the other?

thanks again dude.

[erviewer]

question being, do you think the 4000 is worth the extra $100..

[mustangjake2073]

I think it was worth the money but others do not. Most 24k doesn't really need to be tested. Also I hate putting a gel mark on a nice clean bullion piece.

[erviewer]

LOL,, just ordered the 3000 yesterday. Hopefully I will have it by next week, then get to work.

thanks again for your support.

[TheBarbaricMetal]

How are you able to determine if a piece is 24k without testing it? Ive seen the vid where you blow on a coin and the sound helps you determine its purity but how about something like that 24k gold duck of yours? How can one determine its fineness without a test. And yes I also hate that gel mark... I learned the hard way :(

[blueembroidery]

Mustang have you look into recycle cats from cars for the platinum. My refiner said that I take him the cats just the inside of course but he will melt and pay for the platinum. Your thoughts please

[mustangjake2073]

Cats, toners, film, printpresses, chips, soldering, etc. all are FREE precious metals that professional industries need disposing. Many do not have the time and effort to do so.

Recycling catys are highly profitable as are other "trash". Don't go cutting off mufflers from suv's now.

[skyding8962]

Mustang were you the one that got George4title suspended?

[formulaprimer]

george4title had been exposed with expose called checkmate... george is a loser con man who is employed by a none con man also is his site inflation us is a also linked with these con men. What a loser...

[aaronjesposito]

Mike... You nailed it. You still have to 'sell' your gold and silver, at which time you are likely to get undercut by they buyer. Hopefully the value has gone up enough after your initial purchase to where you are making a decent profit. The value of a dollar is a dollar. But the value of 'spot' price isn't what you get. If silver and gold are valued at spot price 'X', then why can't you get the full price of 'X' when you sell? This is the only factor that is keeping me out of this market.

[Kingratass]

my only question is how do you manage to make money at that for the time being? do you send the scrap to a refiner that pays 96-98% and then sell the bullion at around spot or a little over? do you try to sell it off on the short term highs? i imagine that would be hard to do with a refiner since they take a month or two to pay...

i guess its great for adding to your own collection, but that must take alot of capital to get started

[Kingratass]

i answered part of my question by watching your other videos where you had the scrap gold melted into a bar and had it assayed, i guess that makes the turnaround alot faster if you were to sell it

[mustangjake2073]

Using this process I can turnaround in 40 minutes.

[phishken]

I guess I am lucky. Last time I sold my local shop was paying 35 cents over spot for 1oz silver coins and 10 oz silver bars.. I thought that was a pretty fair deal.

[knoxtique]

jake, if gold is say 950 oz , how much do you pay for 10 kt per gram and penny weight ,.......and for 14 kt per oz and penny weight  or dwt, thanks, Marc knoxville, tn, how much are they paying locally for the 10 kt and 14 kt as well .

[mustangjake2073]

Let's just go with grams. pwt and dwt is bull. My subscribers send it to me at 10 kt 11.77/gram for scrap and 12.09/gram for assayed bars. 14kt: 16.38/gram for scrap and 16.93/gram for assayed bars. These would be actual payout figures.

[halfasheep]

good fo, good nogginin,nice UM.

[my1956effie]

Nice work.

[akaider]

good work dude!

[Growby10]

Good luck w/ your new venture!!!