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Yep, I know a lot of old local "metal mongers" that will pay spot for precious metals so at least there is that. I guess they horde the crap.There are two FUBARS.
Gold as money
Diamonds as money
When you show up at the grocery store, find out by asking them if they will accept Gold.Like anything else, you have to buy when it’s low and sell when the price goes up. If you buy from a dealer, they have to make a profit, and if you sell to one, they have to buy at a discount. Gold isn’t for short term gains, it’s a hedge against inflation in the long term.
If you think you can use gold like a dollar bill, you are ignorant to the actual value of owning gold. It’s not currency, even though you can purchase it in coin form. If you buy $100 worth of gold today, and inflation rises by 10%, your gold is worth $110. If you saved your $100, it’s now worth less than when you originally set it aside. Does that make sense to you?When you show up at the grocery store, find out by asking them if they will accept Gold.
If this is true >>> I later learned that to sell it, it would not sell at top prices, but deflated prices.She asked me to purchase her GOLD. I did so. I later learned that to sell it, it would not sell at top prices, but deflated prices. We lost money on GOLD. It was a lesson I never forgot.
Who wants Diamonds to be legal currency?
Broken clock alert^^^If this is true >>> I later learned that to sell it, it would not sell at top prices, but deflated prices.
then why are YOU letting sellers sell to you at Top Prices, and not these Deflated Prices you experienced.
Were you not WISE enough to turn the tables and be the low buyer and high seller.
Hummmmm......^^^^^ points to ponder Robert.
When buying gold items, make sure you buy at scrap value. Paying a premium because what it was made into creates risk.We hear the Gold hawks plead to use GOLD as the official currency. Buyers of GOLD learn the hard way that deflation is built into the use of GOLD.
My oldest daughter collected coins. She appeared to me to be expert in them. She knew vastly more than I know about prices of Coins and even of Gold. She asked me to purchase her GOLD. I did so. I later learned that to sell it, it would not sell at top prices, but deflated prices. We lost money on GOLD. It was a lesson I never forgot.
Dollars as well as other global currencies can be easily used to purchase goods and labor and easy to deposit into banks.
It got me to wonder since GOLD is well known to be heavy, why not use Diamonds instead? A small hard stone located on the ring fingers of many millions of women would seem to be superior to GOLD.
Any thoughts on this?
I bought for my daughter gold bullion that was certified to be a particular content.When buying gold items, make sure you buy at scrap value. Paying a premium because what it was made into creates risk.
I did not deal with sellers. I dealt with a trusted and extremely smart coin dealer who also sold bullion. I have to ask my daughter if she kept it since it was for her.If this is true >>> I later learned that to sell it, it would not sell at top prices, but deflated prices.
then why are YOU letting sellers sell to you at Top Prices, and not these Deflated Prices you experienced.
Were you not WISE enough to turn the tables and be the low buyer and high seller.
Hummmmm......^^^^^ points to ponder Robert.
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Do Banks pay at the rates of the day?Banks will buy your gold or at least mine did some time back.
At the time they did pay top price I guess it was because the price was rising constantly.Do Banks pay at the rates of the day?
Today they would not enrich customers. Price fell -2.90At the time they did pay top price I guess it was because the price was rising constantly.
