Batch Notes 2021
Well, the good news is that I obviously decided to jump back in the business.
The two weeks I halted the business were a good time of reflection and re-focusing on why I am in business in the first place.
Too, there was a tremendous amount of encouragement from friends and customers and I felt guilty for letting them down in my decision to shut down the business.
The downside of the break was that I lost of number of paydirt subscribers, which made me sad, but at the same time instructive about how business works.
My biggest struggle remains in how to price my products in light of the wildly fluctuating spot price of gold. I need to have enough financial reserves on hand to sell gold competitively, even when the spot price is below what I paid to acquire my inventory. Buy low, sell high doesn’t always work when the sell price needs to be lower than your last buy price.
This situation is exacerbated by my Low Price Guarantee where I have always guaranteed the purchase price for 11 months after the initial purchase. Unfortunately, this has not been realistic in light of the volatile gold market… my good intentions have been rewarded with being on the short end of the profitability stick.
The answer of course is profitability - the ever-elusive goal!
So, as I go into my busy season for 2021-2022, I must aggressively advertise without alienating my existing customers as I try to rebuild my base of paydirt subscribers.
Too, I will continue the quest to find some small-scale gold miners who will be willing to sell me their gold at a price that will enable me to be profitable.
Well, the last few days have been very depressing,
I finally got to the point where I could not, in good conscience and as a good steward of the resources I have been allotted, continue to conduct business in the knowledge that I was not making enough of a profit to justify the business.
It was a heart-wrenching decision to shut it down, but it had to be done.
Now, almost two weeks later, some important things have occurred that may enable me to re-launch my store and conduct a profitable business.
So, I have been working enthusiastically to challenge all my basic assumptions and really ponder how to proceed profitably. You'll have to stay tuned as this whole thing plays out, but I am encouraged and optimistic about the future.
My five children have arranged for us all to be together for a week at the beach. I am especially looking forward to seeing my grandsons. :-)
So look for things to change by mid-August.
Thanks, and I look forward to once again being able to put iPan4Gold in your pan.
A new year, and a new batch of paydirt.
I am so grateful to my friend in Alaska who supplies me with beach sands for our paydirt mix.
Too, I am grateful to everyone who sells me their gold. This enables me to remain somewhat competitive even though I am competing directly with Paydirt suppliers who either own their own mines outright or who have invested in a mining operation.
I look forward to being able to partner up with a couple of small mining operations who will allow me to buy their gold at Refinery prices to enable me to at least stay in the competitive range of other reputable paydirt sellers.
I’ll pay a $200 finder’s fee to anyone who can get me hooked up with a miner to buy their gold at 80-85% of spot.
I don’t remember where else I have mentioned this, by I want my paydirt to be moist when you receive it. This is to guard against inhaling harmful dust from paydirt that can lead to silicosis, a lung condition plaguing miners for centuries. It also protects me as I deal with a lot of paydirt on nearly a daily basis.
The mail system is running extremely slow. In one case locally, it took a month for a package just to go across town…someone decided it need to go to Jacksonville, FL first, then to Atlanta, then back to Augusta, then to Evans, GA! The good thing is that is not just me, but everyone shipping anything these days…misery loves company they say. Ha!
As I begin this new year, I am actively pursuing potential improvements to my System to get the best quality gold paydirt into your hands as efficiently as humanly possible.
I love to talk to my customers so please feel free to call me anytime. Just send me an email with your phone number and I’ll give you a call.
Well last night I got an order from a Paydirt Seller who also reviews gold paydirt. As I sit here, I am wondering whether or not to fill the order…
Let me explain why…
Having viewed many paydirt reviews over the years, I have noticed several common points I find annoying:
First of all, I find that some reviewers are antagonistic toward paydirt sellers. One reviewer even refused to speak to me by phone. It made me feel like I was regarded as someone who could not be trusted or was out to bring them harm. In fairness, there ARE lots of stories of paydirt buyers being ripped off. The assumption appears to be that if you sell paydirt, you’re a crook and can’t be trusted. It’s one thing to be skeptical, caveat emptor, but it’s another thing to be a cynic…it contaminates your perceptions.
I constantly remind myself that this perception actually represents an opportunity to treat my customers in the same way I want to be treated.
Classifying purchased paydirt – why do you want to find a nugget in your screen rather than in your gold pan?
The whole point of panning purchased paydirt is to have your own Eureka! moment where the gold is revealed for the first time from behind the curtain of black sand.
That first glimpse of gold in the pan is what it’s all about!
Nevertheless, newbies watching paydirt reviews feel compelled to follow the methodology of the reviewer even down to wearing black rubber gloves. The difference in the sizes of the recovered gold is self-evident and the classification process is, to me, a waste of time. Yes, I know all about hydraulic equivalence, but we’re not talking about a sluice, we’re talking about a gold pan.
Gold Pans – there seems to be an obsession with the Garrett SuperSluice Gold Pan.
Don’t get me wrong, the SuperSluice is a great pan for prospecting and test sampling larger samples of dirt in the field. But when it comes to patio panning, I recommend the Pioneer Blue 14, 12, and 10.5” gold pans. They have two different set of riffles. You start off with the larger riffles, move to the smaller riffles, and then the no-riffle side of the pan for the really fine gold.
Besides having two sets of riffles, the main difference from a SuperSluice is the depth of the riffles. The Pioneer riffles are about 3/8” and 1/8” deep respectively. The SuperSluice riffles are more like an inch in depth.
Since we are not classifying, you simply pick out the larger rocks, making sure they are clean first. The relatively shallow riffless are much more suited for patio panning where the amount of paydirt is usually much smaller.
What difference does this make? Less tailings which means you spend less time processing tailings and therefore more production.
- The preference for dry paydirt as opposed to moist paydirt. I don’t understand the objection, but moist paydirt is much safer to deal with.
Last year I purchased a highly effective air filtration unit to remove the dust generated for the dry paydirt. This year, however, I finally realized it was easier to moisten the paydirt with distilled water to knock down the dust. I wish I had learned this hack a few years earlier. I still have a lot of dusting to do in the room.
The smart paydirt seller doesn’t specify the exact amount of dirt contained in a shipment. The fact is, what we all care about is the amount of gold we are able to recover. A good seller always offers a guaranteed minimum amount of GOLD in the shipment. After all, it’s all about the GOLD, not the precise amount of dirt a shipment contains.
The fact is, there is a really good reason for the paydirt to be moist…it cuts down on the dust. None of us needs to end up with reduced lung capacity due to silicosis.
I recently watched a well known reviewer empty the contents of a paydirt bag into his pan while commending the seller for the material being so dry – all the while ignoring the clouds of dust he was creating in his small panning room. Fortunately he had a fan blowing it away from his face.
There is no good reason to ever package dry paydirt, and not just for health reasons. Just try spooning some really dry paydirt onto a miller table…you can watch the micron gold stay right on the surface and get carried right off the table into your tailings.
The false notion that unsearched paydirt is somehow better than seeded paydirt – paydirt where a minimum guaranteed amount of gold has been added.
I have addressed this many times, but the average amount of free gold contained in gold ore runs about 2 grams per ton! That means if you purchase a one pound of “unsearched” paydirt, you would recover, on average, about 1/1000th of a gram! You’d have to be an idiot to keep purchasing such paydirt. Nevertheless, many people condescendingly look down on anyone buying seeded paydirt.
In my opinion, any website sells their own paydirt AND reviews gold paydirt from other paydirt sellers has a built-in conflict of interest…and therefore I have to take their reviews with a grain of salt.
I have noticed that several of the top online paydirt reviewers have started selling paydirt themselves. Therefore, in my opinion, they have a built in conflict of interest. Do you really think they would ever review their own paydirt, and rate it at anything less than the best?
Part of my not being on friendly terms with paydirt reviewers is that they seem to always take an antagonistic view of gold paydirt sellers.
Certainly there are enough shady characters in the paydirt market to justify having a healthy sense of caution when it comes to purchasing paydirt from unknown sellers dredged up in search engine results.
That being said, there are some good guys out there and I do take it personally when we get thrown into the pot with the scoundrels.
Gold Spot Price is steady at 1,890.20oz/60.77g for the weekend of Nov14-15
This last week I experienced a disruption to my business as it was time to purchase more gold.
The best price I could get from my primary major supplier was too expensive. By the time I marked it up enough to break even, the price was too high to be competitive.
So, I put out a call to all my newsletter subscribers. I am happy to report that they came through for me. Within another couple of days, I should have enough gold to get me into January.
The negative part of this experience was having to stop taking new orders for a couple of day.
The positive part was in the response of several of my customers expressing their support for our business and especially those who stepped up and offered their gold for me to buy at prices that keep me in business.
I am so grateful for the support of some great people. God is good and we reap what we sow.
While this will get me by for a time, the never-ending quest is to establish some relationships with a couple of mine owners/prospectors who will be willing to sell me their gold consistently enough to keep the business going and to continue offering the quality products my customers have come to expect. All help is welcome. 😊
Gold Spot Price is steady at 1,879.60 until Sunday evening weekend of Nov 7-8.
Gold has stabilized for a day or so around 1870/oz
Look for more fluctuations as the election approaches.
Stock Market/Gold prices dropped this morning, along with the impending election, the only certain thing is…change. Stay tuned…
I had an enjoyable day yesterday…
- I was asked to help the neighbor of a friend find out if he had gold in his creek.
- I spent weeks getting all the stuff together to head back out into the field to actually run some dirt. (It has been a while) It took weeks because my physical condition only allows be to do a minimal amount of physical exertion each day before I have to sit down for a rest.
- The friend I was helping came and helped me pack up the truck the day before and then unload it afterward. What a guy! Thanks Trevor!
- We met at the owner’s property along with another good friend, my videographer.
- We started around 9am and finished around 11:30am. So we only actually ran for about 45 minutes.
- The property and his kid jumped right in and dug dirt to load in the Gold Hog Highbanker.
- I did a clean up and sure enough, we found probably 30 pieces of color. The two largest pieces we about 1/16” square and thin. Nevertheless, everyone was pretty happy.
- I especially loved seeing a dad and his two sons make memories I believe will last them a lifetime.
- I went home and relaxed the rest of the day except for my friend’s brief interruption insisting he wanted to help me unload the truck…for which I am grateful.
I now have a new friend/customer working in a large mine “way up North”
- I am always so amazed and humbled that people who live in such gold-rich parts of the country are willing to buy paydirt from me. But we all share a common malady: gold fever! 😊
Today’s Paydirt replenishment batch:
- Fresh dirt from my supplier in the North Georgia mountains
- Includes some small pieces of quartz rock
- Still a bit moist – I prefer this as it cuts down on the dust when the material gets really dry
- Alaska beach sands blended in – this batch made for a slightly darker than usual batch, but that may change once the crushed quartz loses some of its moisture.
- I noticed and removed a number of larger stones from the beach sands…a bit larger than I want in my paydirt. No mussel shells or evidence of any other sea life this time
Spot price of gold is steady for the weekend at $1902.30/oz
- I have enough gold in inventory for another 3-4 weeks of sales, then I’ll have to buy more…I hope the price goes down.
- If anyone has some placer gold for sale, let me know.
My Sales have been very slow. The high prices have hurt our business.
I am therefore grateful to many of my customers who have sold their gold at a price I could still be profitable with…very grateful.
Many sellers are now coming around to offering guarantees as to the minimum amount of gold included in their shipments. As with many other sellers, their occasional enticement will be a bonus bag containing more than the guarantee.
In that sense, all of my paydirt shipments are “bonus” shipments in that I always ship more than the guaranteed minimum of amount of gold – every time. My rule is to put the amount of gold in the shipment I would be happy with if it were a shipment I purchased.
Recently, a friend spilled the beans about my shipments using the clear plastic containers. I have been putting the total amount of gold in the shipment on the top of the lid and covering it up with iP4G sticker.
My intent was to use it to validate to my customers what I was telling them later. However, in 5 years I have not had a situation where it would make any difference, so I have discontinued the practice.
That being said, if anyone wants to know, just send me an email after you are done panning and I’ll tell you. 😊 Feel free to call me any time
A word about subscriptions…
I have a number of faithful, loyal, subscribers. Some have been receiving monthly shipments for over three years now.
I just wish more of my customers could recognize the value of a subscription with iPan4Gold.
In addition to monthly shipments of gold paydirt which can be cancelled at any time, The most important benefits of a subscription are:
- Low Price Guarantee – your monthly purchase will not exceed your original purchase price for 11 months…even if our paydirt prices increase.
- Likewise, if our paydirt prices fall below your original purchase price, you will pay the lower price too…automatically.
- If our paydirt prices go back up, the price will increase as well but will never increase above your original purchase price.
I haven’t seen this type of guarantee from any other paydirt seller. Have you?
And speaking of guarantees, as do a few others, we offer a 60-day satisfaction guarantee. If you are unsatisfied for any reason with your shipment, simply return it for a 100% refund.
The bottom line here is: there is NO RISK in making a purchase from iPan4Gold!
At present, I have some open slots the last two weeks of each month.
Where do gold prices go from here???
I have no idea. 😊 But…I think gold will trend up and down until the election and by January the Spot Price of gold will have either spiked, if Biden is elected, or start trending down if President Trump is re-elected. One thing seems certain to me…there will continue to be volatility.
Please share your thoughts, suggestions, or ideas with me. I love feedback.
Michael Valadez President iPan4Gold.com
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