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Vlad_The_Impaler on scored.co
1 month ago0 points(+0/-0)1 child
Why would anyone sell you anything for dollars?
They make a margin on it. The grocery store sells you food for a slim margin profit. Coin dealers have to spend tons of money on security, surveillance, float large sums of money for inventory, pay for insurance, pay income taxes of their own.
Are you angry that you can't get Gold Coins at a local brick and mortar shop for SPOT price? SPOT price is a paper contract and usually requires that you buy a 1000 ounce bar. There's labor involved in converted large gold bricks into individually refined and pressed coins. There's pneumatic equipment energy costs, lots of security required.
Anyways, like i said. You don't have to agree with me. I just think it's good advice and it's worked out well for me. But yes, someone who doesn't understand what premiums SHOULD be can get taken advantage of by a dishonest greedy coin dealer. Avoid pawn shops for example.
See, that's what doesn't make sense, buddy. WHY are these shops going through ALL the trouble of spending tons of money on security, surveillance, floating large sums of money for inventory, paying for insurance, AND paying income taxes of their own
... *just so you can enjoy "tax-free" profits?*
WHY provide this "altruistic" service to the public? I've called many shops and asked if they would take silver for gold, or gold for silver. They all declined. They want cold, hard, "worthless" cash. Doesn't that say it all?
A drug dealer doesn't want to trade cocaine for weed, or pills for needles. They don't trade for the shit they're slinging.
Metal traders are no different. They all want your cold "worthless" CASH!
Well not all of them do. There are coin shows i go to and guys are really just self contracted or just wheel and deal coins without the brick and mortar shop and don't pay taxes on most of it.
I keep a few of their cards because if i ever want to mass liquidate i want a couple people i can get ahold of who can come up with big amount of cash for gold, without the premiums, and pay spot or close to spot.
Don't get so caught up with spot price. Look at the spot price for copper. Then go try to buy 50ft copper wire extension cord or copper wire for your walls. Do you get it for spot price or are you charged a premium?
How about Wheat Spot Price? Go buy a bag of wheat flour. Do you get it for SPOT price? No. You pay a premium for 5lb bag of Wheat flour.
I think you are too caught up over a petty premium. Obviously the premium kills you if you are trying to buy and sell gold in frequent trades, daily or weekly or even monthly. If you buy gold and hold it for a year you will be up 15-20% and have untaxed gains and be able to sell common bullion at the next coin show.
Like i said there are many good arguments why maybe you DON'T want to buy gold. So i am glad you are skeptical. It's worked well for me.
I make more money than i spend each month. So what do i do with that extra money? Buying coins or bars works for me. But if you have a better idea then i will listen. Eventually when i have enough i will offer someone gold and silver for their land.
They make a margin on it. The grocery store sells you food for a slim margin profit. Coin dealers have to spend tons of money on security, surveillance, float large sums of money for inventory, pay for insurance, pay income taxes of their own.
Are you angry that you can't get Gold Coins at a local brick and mortar shop for SPOT price? SPOT price is a paper contract and usually requires that you buy a 1000 ounce bar. There's labor involved in converted large gold bricks into individually refined and pressed coins. There's pneumatic equipment energy costs, lots of security required.
Anyways, like i said. You don't have to agree with me. I just think it's good advice and it's worked out well for me. But yes, someone who doesn't understand what premiums SHOULD be can get taken advantage of by a dishonest greedy coin dealer. Avoid pawn shops for example.
See, that's what doesn't make sense, buddy. WHY are these shops going through ALL the trouble of spending tons of money on security, surveillance, floating large sums of money for inventory, paying for insurance, AND paying income taxes of their own
... *just so you can enjoy "tax-free" profits?*
WHY provide this "altruistic" service to the public? I've called many shops and asked if they would take silver for gold, or gold for silver. They all declined. They want cold, hard, "worthless" cash. Doesn't that say it all?
A drug dealer doesn't want to trade cocaine for weed, or pills for needles. They don't trade for the shit they're slinging.
Metal traders are no different. They all want your cold "worthless" CASH!
I keep a few of their cards because if i ever want to mass liquidate i want a couple people i can get ahold of who can come up with big amount of cash for gold, without the premiums, and pay spot or close to spot.
Don't get so caught up with spot price. Look at the spot price for copper. Then go try to buy 50ft copper wire extension cord or copper wire for your walls. Do you get it for spot price or are you charged a premium?
How about Wheat Spot Price? Go buy a bag of wheat flour. Do you get it for SPOT price? No. You pay a premium for 5lb bag of Wheat flour.
I think you are too caught up over a petty premium. Obviously the premium kills you if you are trying to buy and sell gold in frequent trades, daily or weekly or even monthly. If you buy gold and hold it for a year you will be up 15-20% and have untaxed gains and be able to sell common bullion at the next coin show.
Like i said there are many good arguments why maybe you DON'T want to buy gold. So i am glad you are skeptical. It's worked well for me.
I make more money than i spend each month. So what do i do with that extra money? Buying coins or bars works for me. But if you have a better idea then i will listen. Eventually when i have enough i will offer someone gold and silver for their land.