Things You'll Need:
- Telephone
- Internet Access
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Step 1
Monitor the gold market carefully. The spot price, or wholesale rate of gold, changes twice each day. This is the price that institutional investors pay for pure 24-karat gold. Monitoring the spot price on a daily basis will give you better insight as to whether it is time to buy or sell, according to market conditions. It also gives you an idea of what your profit will be when you are fixing your buy price for dental gold. You can monitor the current gold prices online at sites such as kitco.com.
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Step 2
Check with other gold buyers in your area to find out how much they are paying for dental gold. This allows you to set a price that is competitive for your local area while still allowing you room for profit.
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Step 3
Contact dentists in your area. Sometimes people who have dental work replaced will leave their old crowns, flats and caps behind. This allows dentists to accumulate a supply of scrap dental gold that they will sell. It is also worthwhile to tell them you will pay them a referral fee for clients who keep their old dental gold.
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Step 4
Place an advertisement in your local newspaper's "Want to Buy" classified advertisments section.
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Step 5
Post an advertisement on the craigslist website, a popular forum that is sorted geographically. This means you can post an advertisement that targets the cities closest to your location. It is like a classified ad in a newspaper but is free.
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Step 6
Monitor online auction sites such as ebay.com, where people sometimes sell dental gold. The key bits of information to watch are many grams the gold weighs and how pure it is. Dental gold can range from 10-karat to 18-karat, although 16-karat seems to be the most common. When you go to the online auction site, search for “dental gold” and “scrap gold” to see what you can find.
