The Recycling Entrepreneur Newsletter


 

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(C) Scott D. Andrews 14 December, 2001

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In This Month's Issue...
 

1. An Introduction

2. Book Report – Thrift Store Prospecting by Rose Morgan ISBN 1-879878-13-5

3. Trivia

4. Bonuses, New Files, and A “Community”!

5. Coming next month –


 

---------------------------NOTICE---------------------

This newsletter is NEVER sent unsolicited. If you do not remember subscribing or believe you are getting this in error, please just unsubscribe (unsubscribe links at bottom). I have logged your original subscription request and assure you I DO NOT send emails to ANYONE who has not requested I do so.

------------------------ NOTICE ---------------------
 

*** Section 1 ***
 

A special welcome to all of you who are back for this, the second issue, and a hearty welcome to all our new subscribers. It is my sincere hope and wish that the spirit of this season is with you and you are looking forward to a New Year of success and fulfillment.
 

Back to business. First of all, have you gotten the “books and bullion” I recommended in the last issue? No? Then DO IT TODAY! I received my order this past week and was well worth it! The silver is beautiful and the information is eye-opening and PRICELESS! If you’re a new subscriber, go back to the last issue in the Recycling Entrepreneur Newsletter Archives.
 

And, again, if you have questions or suggestions as to what you'd like to see covered , let me know and I'll do my best to address it.
 

Remember, this ezine is designed to be support material for "The Recycler's Library". If you are not currently an owner of the manuals, please review the information at: http://recyclebiz.com
 

*** Section 2 ***
 

Book Review – “Thrift Store Prospecting – by Rose Morgan  (ISBN: 1-897878-12-5)
 

This small but info-packed book details the author’s forays into the world of reclaiming gold from plated scrap items. She goes into great detail about locating and reclaiming pure gold from a wide variety of gold plated and filled types of materials, many of which she claims can be found in unexpected places such as thrift, or “as-is” stores.
 

She is quite open about the fact that the “good” stuff, from a plating standpoint, is material which was manufactured prior to 1971. What she is not so open about about is her method of reclaiming the plating, nor the amount of labor or materials needed to recover and refine the gold.
 

Ms. Morgan proposes that it is entirely possible to get 24k gold at a cost of about $20 per ounce, and this may be true. The flip side is that you are NEVER going to find the amounts of scrap from these sources that will be adequate to do this as a business. She does this as a hobby, not a livelihood. Her livelihood seems to be in selling her manuals, which include a couple of refining reports (one of which is the “Recovery of Precious Metals From Electronics Scrap” that is included in my book) and testing kits.
 

Rose intersperses her material with lots of commentary pertaining to current economic/political trends and situations which you may or may not agree with, and which are not germane to the topic covered.
 

In short, this is an interesting little book which may be beneficial, IF you can read between the lines. For example, she gives an example of one particular type of plated scrap (old lampshade trim) which assays out at .33 (that’s 33/100ths, or 1/3 troy ounce) ounces per TON, and makes a case for how HIGH a value this scrap is! Let’s face it, no one can afford to refine a ton of this scrap to recover about $90 of gold.
 

She also gives quite a bit of information about testing plated items for gold, which is completely superfluous. She even includes a small touchstone (which is really the most beneficial part of her booklet package), but some of her testing info is unnecessary and misleading. Frankly, if you look at a piece of gold plated material, it is obvious what it is. Only karat gold items need to be tested to determine karat content, and therefore value.
 

MY RECOMMENDATION: Skip this one unless you are looking for a hobby to occupy your time. On the other hand, ANY knowledge you acquire will benefit you over the long run. Just do not be fooled by the questionable economics you are presented with. Stick to the basic rules of High-Profit Recycling as detailed in The Recycler’s Library if you are interested in INCOME rather than a HOBBY.
 

*** Section 3 ***
 

Trivia – From the “Gold is Where You Find It” files: I grew up in an area of New England once known as the jewelry capitol of the US. I was once introduced to a gentleman in my area who made a six-figure income (and this was back in the 60’s!) burning wood for a living!
 

He purchased old hardwood flooring from jewelry factories and precious metal plating shops which were being torn down or dismantled. Over many years this flooring absorbed plating splash-over or had gold dust and grindings literally ground into the wood through foot traffic.
 

He would burn these materials (this was long before any environmental restrictions) and ship the ash to a refiner. He took the idea from the old companies which provided free floormats to dentists. There also existed refiners which would provide similar materials to plating companies in exchange for the scrap gold generated by their manufacturing processes.
 

Remember, in the old days when gold was fixed at $35 an ounce, it wasn’t worth a lot of effort to minimize your waste stream. Although metals are considerably more costly these days, they are almost always a small percentage of the value of the product being manufactured, whether electronics, dental , photo, or just about anything. This is what makes opportunity for YOU!
 

*** Section 4 ***

 

Bonuses, New Files, and a “Community”
 

I have found a couple of resources I hope will be of benefit to you. Most of us are drowning in debt. Although the current round of interest rate cuts may have allowed us to refinance our home or other debts to a lower rate, most of us need all the help we can get to trim expenses.
 

Do you have a mortgage? Are you paying it biweekly? If not, you’re paying too much, and for too long! I located a program which will allow you to set up a biweekly program without any upfront fees (many companies charge $300-400 to set this up) and have the effect of lowering your interest rate by 2.5% points! I cannot tell you if it is available in your state, but go here for details:

http://bankone.com/personal/products/mortgages/payoff/
 

Have too many credit cards and other loans or payments? Check out this FREE software used by credit counselors to structure payoffs most efficiently: http://www.debtanalyzer.com/
 

NOW is a good time to get out of debt – you can always use the savings to build your recycling business that much faster!
 

I have recently added some new files to the "Vault" (http://recyclebiz.com/metals_and_alloys.html) . Have you read my “Jar of Dirt” story yet? I’ve also added Johnson-Matthey’s 2001 Platinum Report, which is always informative reading. I’ve got three new files to be added in two weeks – after I’ve accomplished my next “big” effort…
 

I am in the process of loading and fine-tuning software to give my customers their own “recycling entrepreneur community”. Our discussion board should be online late next week and available for you to communicate your ideas, experiences, and questions to your fellow recyclers. I was originally going to make it exclusive to purchasers of “The Recycler’s Library”, but I now think that ALL should be able to benefit from it. I do reserve the option of making it more exclusive in the future if the volume gets too much for me to handle alone. But stay tuned, as I will inform everyone on my current subscriber list as soon as we’re online.
 

*** Section 5 ***
 

Coming Next Month - In January I will review “The Silver Bonanza” by James U. Blanchard. Also, some basics of the Platinum Group Metals, and how you can profit from them: my ‘almost secret’ source who will pay for rhodium in small quantities!
 

Next month’s question: Which metal has the potential to solve our energy problems?
 

‘Til then, Happy Holidays, and Successful Recycling!

 

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P.S. - Last month's question: What happens to the metals in one's body when it is cremated?

Answer: Check out this web site:
http://www.cremation-society.com/crem_process.html


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