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The Golden Judgment
We see a lot judgments, and many people think their judgments are much more valuable than they actually are.
With the value of gold and other precious metals going through the roof, there is increased interest in investments and opportunities that involve precious metal ore.
Precious metal ore is basically valuable dirt. However, such dirt has a valuable amount of precious metals; for example gold, platinum, silver, and palladium. If dirt has even a tiny fraction of a percentage of precious metals in it, the dirt is called ore, and has a large value.
Of course, for precious metal ore to realize its full value, it has to be refined. Precious metal ore must be mined from the earth, stored, guarded, transported, and refined before it can be easy to sell. Also, because there is usually a lot of dirt in ore, it takes up a large amount of space and is heavy.
Precious metal ore is often worth less than $70 per pound. Of course, if you have 78,000 pounds of it, that can be worth about 54 million dollars. Most of the time, precious metal ore has to be mined from the earth, an expensive and time-consuming task.
In the past, mercury metal (once called quicksilver) and cyanide were popular (and dangerous) materials used to refine gold and other precious metals from ore.
In modern times, precious metal ore is usually refined either with acids, by water floatation, shaking, solvents, melting, chlorine, and many other ways. Usually, it takes many steps to produce a final refined product.
Finding precious metal ore is usually difficult. Usually, it is buried deep in the ground, or located in a protected area that cannot be mined. Most people that want gold, want to buy it in the form of bullion, coins, or jewelry. Buying gold as a refined product means you have to pay full retail, and there are very few bargains.
However, there are still bargains in precious metal ore. The illiquidity of raw ore is what makes it possible to find a bargain. Is it easy to convert raw ore into gold? No, if it was easy there would be no bargains. If one is well-funded, and has, or can find the right connections to a refiner, one can find bargains.
Before September 2011, a search for a "Judgment Broker" on the web, showed one gold judgment. This judgment has been purchased. As an example, the debtor had 78,000 pounds of precious metal ore were stored in Nevada, worth at least 54 million dollars, stored in a secure location. Someone made a lot of money by buying this judgment for about 3 million, paying the shipping and refining fees, and earning a lot of cash.
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