Bitcoin Forum

I just had an idea now : Crypto for Silver & Gold

You send gold/silver by mail
We evaluate it if real gold / silver
You get paid in Bitcoin / Cryptos for your Gold / Silver

like cash4gold

Anyone interested in making it a real business with me ?

You could start by trying to do a by gold by post for crypto? I don't know if anyone's on that yet and it might be pretty easy to do with little investment if you find a reputable 24 karrot/.999 seller/minter...

It might be hard to work out what's legit and what isn't and will take time (you might also have to process impure versions if you choose I've heard of black and white gold at least....)

Crypto4Gold your just buying gold/silver ( not even pawn shop) ...you can even do it solo

There are 10 problems with Crypto4Gold :

1.   Capital ... you need minimum 100k-150k to start
2.   You need to find a trader that can exchange you fiat to crypto 24/7 at a good rate
3.   You need a secret location where you can store the gold,silver / a good testing kit / and someone with experience  to test the gold/silver  and refine it
4.   You need a location where people send you the gold,silver
5.   You need a good shipping company if people don't agree to sell the gold to you ,so you can send the gold,silver back
6.   You need a programmer / web designer / webmaster  to take the orders etc .... This problem solved as i can do it :)
7.   You need a expert in commodities that can predict when to sell
8.   You need a good team manager
9.   You need someone that you can trust with the money and metals ( takes care of shipping / moving the metals / money )
10. You need someone with marketing / advertising skills

Alone i can't do it  ... but if we partner up like 10-50 people it will be very easy ...

Plus shipping gold from other place to another takes time and higher chance to get lost in the mail considering there are thief in customs and its a big lost from the client side not unless if the main office is just km away.

Btw your plan/model is more like this https://www.sharpspixley.com/sell-bullion-into-bitcoin

One of the biggest problem whom i do see that will really be hard to get rid of specially when dealing of with precious valuable metals.Tendency of theft is there unless if theres insurance with full value declaration but
that will surely add up on the cost or expense.

This idea would work but it would really need to have lots of works to arranged first.Why not try to do it first locally?

Yeah I can imagine insurance outside of North America (ex Mexico) and europe for expensive goods would be very expensive. Most things travel through the EU without insurance or with a very cheap insurance because they're rarely lost and normally covered by the shipping firm anyway but that's just speaking from here...

And yeah the suggestion to op of doing it locally is something I'd support as well as seeing if they could team up with a jewelers or pawnbrokers to offer this stuff..

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Trying to run something like this sounds like it could become very costly given the pumps in gold recently...

the point is not to do it locally ...you can just make your own pawn shop if you do it locally ... also bartering not allowed in some european countries

Why do you need an email? You can use a trusted person in the forum, everyone sends gold to him and after he is sure of the quailty of gold he tells you to send the money to the second party.
Selling gold requires trust and you will only get it through people who know the forum and work for a long time.
Have you confirmed the legal status as buying and selling of gold involves some legal waste?

Let's confirm that this is a great idea. However, it won't perfectly work in the way op has described it.
I first thought how to send gold by email, and how to set the price of a precious metal in crypto.
As stated above, selling/buying  precious metal requires a legal status which may differentiate depends on the located country. Also, i think about why should anybody sell his gold savings in this way. Is this just to get some cryptos?

Do you mean hiring a trusted forum member as an escrow? AFAIK, it's not that easy to escrow operations of physical objects in general, and in a project like this, this would require additional cost for the escrow services.

you don't buy sell gold ... to buy / sell gold you have to give fiat ... crypto has legal status as commodity in most countries ... so crypto4gold is "bartering"

The only thing you buy is crypto so you can trade it for gold/silver

Well you have one more problem, people's mindset. I won't lie, i'm liable to this as well.

My first instict is to buy GOLD with Crypto, not sell gold for crypto. And that's what i've been doing. Hard to let go of gold tbh