I Tried to Sell $1000s in Gold to Coin Shops... Hear What They Said!
HTML-код
- Опубликовано: 8 сен 2024
- Today I called back the EXACT Same 6 Coin Shops that I called in April to sell them my Gold Eagles! I wanted to know if they would offer me Less or MORE than they did in that video!
If you haven't see it yet, here is the original video where I called these shops!
▶ • I Tried to Sell GOLD E...
I’d love to hear your thoughts on this video! Drop a comment below and let me know what you think. Your feedback means a lot to me!
🌲 Check out SD Bullion's 500 Silver Tree of Life Sweepstakes!
▶ www.sdbullion....
🔥 Get Some GREAT Deals on Silver and Gold at SD Bullion
▶ sdbullion.com/...
Want to Support the Channel?
----------------------------------------------------
BE SURE TO:
╔═╦╗╔╦╗╔═╦═╦╦╦╦╗╔═╗
║╚╣║║║╚╣╚╣╔╣╔╣║╚╣═╣
╠╗║╚╝║║╠╗║╚╣║║║║║═╣
╚═╩══╩═╩═╩═╩╝╚╩═╩═╝
▶ Become a Channel Member! bit.ly/supportss
- Channel Memberships include awesome benefits for supporting the channel, so be sure to click and check them out!s
Get your Silver and Gold Coin Ping Tester!
▶ coinpingtest.c...
*This is an affiliate link, so buying a Ping Tester through this link supports the channel!
Check out my Online Store for Collectible Silver and more!
▶ shop.coolstax....
Curious about the equipment I use for my videos? Visit this link to find out what I use in my setup!
📦 coolstax.com/p...
Check out these Epic Links Below!
_________________________________
▶SUBSCRIBE! bit.ly/2Pa3y0n
▶INSTAGRAM! / coolstax
▶DISCORD! bit.ly/silver
▶My Website: www.coolstax.com/
⚠️Disclaimer: coolstax.com/y...
________________________________
Credits:
I Tried to Sell MORE Gold Eagles to the SAME Coin Shops... HUGE Offers?
• I Tried to Sell $1000s...
#goldcoins #gold #coinshop
I feel bad for anyone who sells eagles for less than spot. That's why these videos are a great service, because you might save someone from making a big mistake.
-$30 does not matter much if you paid $1300 in 2018.
@@buyystocksthis is true, but you should always strive to maximize the value of your Gold, and other bullion.
@@buyystocks If you purchased your gold way back when, you are likely sitting on a nice profit even if you sell at spot or below. It all depends on what you paid for your gold to begin with.. So, don’t feel sorry for anyone. It is all a matter of timing. Buy low sell high and don’t be greedy. That’s my motto. Have a great day.
@@MarkMphonoman 100%
So I have never own gold. Sounds to me that when it is reported the price of gold is x amount. It really isn't that price. It is only worth what you can get for it.
The Spot price is what investors pay on the Futures Market. It's not real Gold, just a paper transaction for future delivery. The goal is to sell your futures contract before you have to take delivery and actually pay for it. It's like a game of Hot Potato. This is why the spot price is way over inflated.
It is hard to get anything for it in a collapsing economy also.
No there is spot price on all gold. Gold is gold, so do not be mugged off.
God, she sounded like a silly school girl.
Exactly. You're at the mercy of buyers. Most people lose money on it.
I just took over a shop in El Paso Tx, ( Gold & Silver Exchange). It was great information to give me an idea on how to be more competitive when buying gold eagles and buffalo's. The comments are great as well to see what people are looking for when looking for a place to sell their goods. Great information!! Sam G
My hard lesson. I bought a $5000 dollar single diamond ring 1ct stone. 1990. When it did not work out with the woman I thought to get my money back out of the ring. $600 dollars is what they would give for the ring. I still have the ring. Oh one more thing, they gave me an appraisal for insurance replacement on their appraisal of the ring I bought from them was only $3000.
They admitted they screwed you.
Like gold, precious gems are only worth what someone is willing to pay.
My friend, jewelry is not an investment in any way, shape, or form. The diamond market is completely manipulated. Contrary to popular opinion diamonds are not rare especially when you see them on drill bits sold in Home Depot and Lowes.
@@garyjarvis2730 Something I did not know back in 1990. It is something every man should know, being as we are expected to buy some kind of ring.
@@dhollongstreet4725 cheaper lesson than a divorce!!
BRAVO and thank you SO MUCH Silver Seeker, as you are the ONLY YT channel that provides us with a heads-up on what we can expect, when the time comes to SELL our stacked gold and silver to local shops. Bottom line = call and ask in advance!
Always ask for buy/sell price. That way they don't know which and will give you an honest answer instead of giving them the advantage.
Depends on the inventory they have on hand i assume. If low they'll pay, if well stocked they can not buy or pay less. adjusting as needed
Always enjoy these
My LCS has not changed how it buys or sells 1 oz gold eagles for the 6 years i have been using them. Sell for $99 over spot, buy for $25 over spot. Co springs, Colorado. Great shop.
If it's the Hallenbeck, it's one of the best in the nation. They treat everyone fairly & have a set price not a "it depends on how dumb you are" price. I bought a lot of silver rounds there.
@@vahjayjayaddict yep - they are my go to, and will be as long as I'm here.
My LCS in Tuscaloosa, AL is paying spot for gold eagles, spot -1% on generic gold (buffalos) and with silver he’s paying spot+$2.25 for eagles/sovereigns and spot+$1.00 on buffalos. I’ve known him for 15+ years so I usually get better prices but this is about what I’m seeing him do for everyone else. Maybe a hair lower on silver eagles than for me but not by much.
So I stocked up on all 2023 2 Troy OZ Yale of Beaufort of the Tutor's Beasts Series, having seen previous editions soar above $100/coin, regardless of intrinsic value. Scored them between $49-52/coin in March and April 2023. I was elated to see they've risen in collector value too $79.99-$95.55. Called up a bullion dealers just looking for a ball park of what they'd buy them for, because I'd be okay letting them go in bulk for $70-$75/coin to have funds to buy more silver than I started out with. They offered $60.30/coin with Silver at $31.40 or there abouts. Less than current spot. I got needing to make a profit, but holy crap. Charging as little as $81.90/coin in bulk, $85+/coin for less than 10, buy buying only for $60? To quote Cartman, screw you guys. I'm going home. Na na. Me. Home.
That was interesting. I can say that things have gotten slightly better in my area. What's being offered is now above spot as compared to a few months ago when it was at spot. Thanks, Seeker!
Have they ever said , Hey is that you Silver Seeker ? 😂
Lol, I've wondered that too
They probably get the same questions by from multiple people everyday, along with how much are my bicentennial quarters worth. 😂
I bought some quarter ounce Gold Eagles back when Gold was $1,300.⁰⁰ an oz.... I would gladly sell to any of those places. Preferably Spot or over, but profit is profit at this point.
@Blickooo Hi. I was wondering if you could use the smaller size gold coins to actually buy something today.
2400.00 invested for a measly 100.00 if your lucky profit...all the risk you take is not worth it in my opinion
You’re buying to save your wealth not to make a profit on it but you keep your money in a savings account. I’ll keep my money in gold and we’ll see who has more in 20 years.
@@1dilligaf I'm talking about the dealers
Yeah I agree.
@@1dilligaf the person with the ETFs will win in the end
That’s not how gold works. You’re not supposed to make a profit in a few months. You hold gold for a long time as its price holds with inflation as years go by. Of course no matter what happens in the world, you can change it into cash in an emergency, or use it anywhere in the world to maybe save your life.
Spot is 2,362.90 this morning, refinery buyback price on gold eagles is +1% = $23.62. In this market with more seller than buyers and loads of inventory it doesn't make sense to fork out $2362.90 to make $23.62 so shop #6 is the smartest of them all you called if you want to stay in business and pay the bills in this volatile market. On the other hand, if I was needing inventory I would gladly pay spot because it would save me money, just saying!!! Thanks for the video Seeker! Life is good.....God Bless
@bigdaddyhoffman1911 not the customers fault it's so expensive that the price is out of reach for most Americans. Why bother losing 14% of your purchase as soon as you transact for a fractional gold piece when there are plenty of other income producing assets you could invest in.
Why start stacking if you’re never gonna make a profit? The more I learn the more dissolutioned I become with stacking. Dealers cry about thin margins, but not even getting spot on your investment is sickening
You have to be patient. When I started stacking gold spot was 1475.00 with premiums of 30 to 35.00. Spot now is over 2300. That took about 5 years but, the gains have made it possible to liquidate occasionally and still maintain my original investment. I live solely on my orginal investments now. The slow move up has made it possible to survive comfortably with no other income except from liquidation of a few coins each year. Buy for your future and understand you will benefit from the investment
In the early 1980’s I started stacking silver and gold. I bought 100oz of gold at $350oz (approx). And that’s just one purchase. I still have every coin and bar I’ve ever purchased in a vault. I’m not an investor. I’m a hoarder that keeps hard assets as part of my portfolio. Investing in metals will pay eventually, but if you’re looking for large quick returns, metals are not the market.
Over decades you will make a return. But, that return will be much less than investments in real estate or equities would have made you. That is the game right now. PM's are just slightly better than cash. If you stack, do it as insurance for economic collapse, not to make a return. If you want a short term return to live off, then buy real estate or equities.
Too many shills in this community have been selling the get rich quick story for precious metals. If you look at silver's 147 year history since it was demonetized in 1873, there were only 2-3 times when the price returned to it's intrinsic value. IF you are lucky, in your lifetime you will see this happen one more time. That price right now would be multiples higher.
It's just a nice savings account
And why would you sell it at a coin dealer that's like going to a pawn shop lol
What predominantly back of spot offers suggest to me is the shopkeepers want to be able to sell on the wholesale market or to a refinery if no one buys the material within a certain amount of time. Which is smart.
Agree 100%
refinery... for what? a .9999% pure gold like a maple isnt going to get any more refined. reseller is more like it
@@renaissanceman5847 Don’t kid yourself, refiners don’t sort, it’s getting melted in a crucible along with silver jewelry and everything else silver that came in the door to be processed.
Proves you're still losing paying that extra premium. Better off buying the cheapest gold like a Krugerrand or Britannia.
I like to buy coins that people in my country want. I heard there is not a big market for britannias here. Shops let them sit in their cases for months without selling them. They could sell a gold eagle on any given day.
Glad Silver Seeker does the deep dive for us to ponder!
I don’t understand what the point is. These little coin shops they have all kinds of costs involved in buying what they hold. They have to make a little profit or they can’t survive and there is no profit in bullion if you’re buying gold or silver as an investment, you don’t understand precious metals. IF YOUR GOAL IS PRESERVING PURCHASING POWER YOU’RE DOING IT RIGHT ,IF YOU THINK YOU’RE GONNA MAKE MONEY ON IT, YOU’RE WASTING YOUR TIME.
Also ask what they’re selling for as well. A shop might offer $20 less than spot and sell at spot
I’m Eastern Asian. In my country we sell gold at the price about 7% lower than the listed spot price. Good thing is the price pretty transparent that we don’t have to ask around.
I just traded Silver Eagles for Platinum Eagles at my go to local coin shop - they wanted 35 Silver Eagles for 1 Platinum Eagle - I traded for 5 Platinum Eagles. Reason I have my fair share of Silver and Gold but not Platinum. Platinum in my opinion is now tied with Silver as the most undervalued asset on the planet.
You traded eagles at 28$ an oz to platinum price bro. $1000 spot platinum / 35 = $28 Spot silver
Good job on the Platinum brother not very many people talk about it on here. I like to keep some myself if the premium is low enough.
@@amr8457 thanks - I have 21 total now and I’ll get a few more if the price drops - no more trading just pay fiat if I get more
@@TheMostSlyFoxNo
@@abrahams.lincoln6749 ????
I am starting to recognize those voices. I remember how they all sound a little funny. 😂
Staged
@@theaverageguy3884 “Staged”😂
They all sound the same to me !
This is my problem with all the gold bugs running around out there. Gold is a commodity, not a currency. It is only worth what someone is willing to pay or exchange for it. For example, if TSHTF tomorrow and you have gold but no garden, how much of your gold are you willing to part with for a pound of tomatoes? A loaf of bread? A chicken? How about a year from now? Or two? Economist Walter E. Williams called currency (dollar bills) certificates of performance. Essentially fancy IOUs. In a SHTF scenario, the value of everything becomes relative. Bread can become more valuable than gold because we don't use gold and have no understanding of it's worth in such a case. But we are used to the face value of dollars and, like IOUs, can still use them to value goods and services amongst ourselves.
I have a neighbor who bragged that he bought $10,000 worth of gold. I told him that I bought $10,000 worth of ammo. I told him that when push comes to shove, I will have $9,999.50 worth of ammo and $10,000 worth of gold.
wait till currency makes the change to digital and crypto that is just numbers without any value when the bottom drops out back to a barter system economy
Most people who own gold also own lead. Keep that in mind before trying to pillage
After you told your neighbor who bragged this update to your SHTF portfolio, did he move or did he invest in lead ??? 🤔
@@will6334 We live on the AZ/MX border. I was making a point for those who don't.
@@aberodriguez4149 We live on the AZ/MX border. He got the message. While he was armed, he realized that he was clearly under-armed. I don't know what he's done to rectify that situation. When I say he's a neighbor, it's relative here. He's about 3 or 4 miles away.
My son recently called his local pawn shop and asked the same, but for a one ounce Swiss bar. They offered him $800 UNDER SPOT. LOL
I tried selling 100 OZ Engalhard bars. Best offer was 10% below spot. Definitely a seller's market. Why would anyone sell if the metal is positive! If it is not worth them holding, why would it be worth you holding! There is a BIG difference between INVESTING and SPECULATING. Be sure you know this before you end up with a lot of dead metal!
Sellers market? Don’t you mean buyers market? There’s a big difference between the two!
In my head they all were cussing you when you called each of them when it was getting bleeped out lol
Informative video. Question: couldn’t part of their pricing be based on what they have in their inventory and general market demand?
Good show! 1oz bar comparison to 1 oz eagles and/or buffalos would be interesting. Shops paying 50 over for buffalos here.
This is why I'm being called by all those Gold Companies. Thanks for the information 👍
Can anyone not see what would happen to gold value if the dollar fails and gold holders unload to purchase, it would be a disaster. Gold is not the panacea that people think it is if the economy free falls.
You are correct. It will only be valuable for trading and barter when the dollar is worthless, there won't be any gold buyers anyway, what will they purchase it with, silver?
@@DougPoultonA loaf of bread.
I am not a gold trader and a total dunce about it. So here goes with that elusive "dumb question". If a retail business buys at or near spot and sells at or near spot; how the hell do thaey stay in business?
They sell it to you for $100 over spot, then buy it back from you at $50 under
@@mikec1773 It’s my asinine belief that they gamble, on current inflation/depression(?), that the value of gold/silver will go up/down and hedge to cover their bets. Win/lose they still make a profit just like a suoermarket that prices the food items you buy.
Investing in PM’s is never a get rich quick scheme. Long term holding the PM’s is the only answer. Getting out of debt has personally been my best investment
If I were to ever sell some of my stack (which I don’t), I think spot price is fair. Dealers have to make something, otherwise they wouldn’t be in business. However not all shops are fair. The old “we gotta keep the lights on” line of BS, doesn’t justify some shops I’ve seen that literally rob customers. Shop around first!
This is why I don’t buy metals. You often pay a commission/cut on both buying and selling, having to deal with sketchy “dealers” whose repute seems to only be as good as random people online say. No thanks! If there was a government program where I could go into certain major financial institutions and buy/sell specific products (ie minted gold) at today’s market price, that’d be different. Then I’d always be guaranteed to be free of sharks and con artists whenever I want to convert between metals and fiat money.
There was a day when Banks could buy/sell at fixed pricing on Eagles. My first silver eagle was bought at the bank. Gave it to my daughter a while back though.
I'll stick with stocks. Most of the ones I own provide dividends, and when I sell them, I'm paid full market value without having to call five different people for the best price.
I don't know how these small shops stay open, they operate on such a small margin with a huge cash outlay. I only use gold and silver for barter or trade with individuals.
I have merchandise 😂 and yet to find someone who is interested in bartering with me with silver, gold, and bitcoin.
@@hrhtreeoflife4815 I wouldn't touch bitcoin but I have run several ads selling firearms for a $ price or the option to trade for gold/silver. Some people really want a certain type of firearm, don't have ready cash but do have gold/silver or another firearm to trade.
They sell a lot of novelty coins.
My LCS Is paying 6% back of spot! Shop around buying or selling!!
Thank your for sharing. Great video.
I have 20 1 oz maple leafs I bought in 1987 uncirculated I believe I paid around $297 a coin what do you think the current price should be relative to spot at a coin store.
Maple leafs are .9999 pure gold. They should sell over spot.
Sell to an on line bullion dealer. You will get over spot nearly every time for AGE’s.
But what they don't tell you is you have to ship it in a very specific way and fully insured and that takes away from what you're getting. I tried and said hell no! Got a better deal on net from my lcs.
These shop owners made an absolute killing with premiums but they’re too greedy to offer their customers SPOT??? wow. I’m someone who always supports local business whenever I can but that may change now. GREEDY SHOP OWNERS SHAME ON YOU!!
Informative video! Thank you.
As a hedge against currency collapse gold only works if you do not need to sell it. When the currency settles to its new value gold will show it's new worth. Like any thing else those who can buy at the bottom make the biggest profit.
Were the dollar to collapse foreign holders of gold would do far better than foreign holders of dollars. That is why the foreign countries are buying gold like no tomorrow and selling their bonds. No one wants to be holding the baby when the lights go out. It would be a good bet for Americans to hold at least some gold to be a solid asset when things return to a new normal. The remainder of their cash should be held in things of real value and tradable when the collapse comes. Food and fuel come to mind.
Think back to the depression and what had value. You need sufficient of whatever to last at least five years living and trading.
Those that have a surplus of essentials to trade will end up rich.
What are Silver prices ?
Great Info! Thank You : )
If you DO sell how do the shops pay? Cash or check? I’d be fearful of a check when handing over gold
I love you Aussies and your Mother Mopar Hemi 6. I’d love to get a few sent to the US and play with them. We have the slant 6 here with the HP version called the “hyper Pak” and we even have aluminum blocks. Anyone know of a parts shop that might crate up a few engines and ship them here? I’m paying cash!
Excellent report 👍👍👍👍👍👍
try to imagine what would happen now if there were a true emergency like all those guys touting gold always try to tell you is just around the corner. Everybody selling their hoarded gold at the same time. It would be a buyer's market, 90 percent from spot, and you'll be happy to get it.
You would buy a loaf of bread for one Eagle.
@@visaman I'll trade you my loaf for your Eagle, and you'll thank me for it.
I forgot to ask what my lcs was paying but I do notice their inventory is constantly getting cleaned out and replenished. I go in twice a month usually and they never have the same gold in the case. I don't think buying has slowed down there. There prices are always good tho.
Gold is around $2,400/ounce. A shop trying to make an extra $20 or $30 is pretty insignificant. Not getting paid the proper or current spread for a “proof” coin is likely to be a bigger concern
Good to know! Thanks SS
Hit 200k today. I'm really grateful for all the knowledge and nuggets you had thrown my way over the last months. Started with 14k in June
I will advise you stop trading on your own if you keep losing. And i don't trade on my own anymore, I always required help and assistance
She's my family personal Broker and also a Broker to many families here in the United states, she is a licensed Broker.
😱Sounds familiar, I have heard her names on several occasions.. And both her success stories on wall street journey!
I'm not here to converse for her but to testify just for what I'm sure of, she's trustworthy and best option ever seen.
She is active on the
TE LE GRAM
Hi Seeker, thanks for the vlog! It is always great to see if there are any trends in the market. Do you think these are real trends or just determined by what is going on at that shop for that day? In other words, someone came in with a large stockpile of gold and they just want to reduce their inventory.
Buy gold and silver, but like anything else. Don't bet no more than what you feel comfortable losing. I wish I had all the dollars i just pee'd away. Yes, the dollar is failing, and the pm's hold value. I understand all that.
Very interesting! Thank you!
My LCS pays 10% under spot and sells for 10% over spot. Not a good deal.
Shop 4 seemed to be the most honest as the are consistent with their pricing, but the sad truth is that all these shops know that by this time next year gold will be much closer to $3000.00 per ounce 😢 Start buying now! 😮
What is "spot?"
that is a bit like expecting to get top dollar at pawn shop, it is just not going to happen, their goal is profit, not break even if lucky. Buy low, sell high, that is how it works.
Good idea!
Gold isn’t an investment, it’s an insurance premium for an economic collapse.
That’s a bit of a cliche’ that isn’t necessarily true, and it isn’t a hedge on a collapse, but is a hedge on inflation. When this video was made a month ago, spot gold was $2,335, and today, one month later it’s $2,507, which is a nice increase of 7+% over 30 days, but market fluctuations (read manipulation) makes precious metals more of a long term investment against inflation, rather than a short term investment for quick gains.
What gold is great for is protecting existing wealth, because you never will see gold lose its value. The buy/sell price fluctuations are cyclical, but has historically risen higher, with only a rare few, temporary exceptions.
Explain how? If the economy collapses Monday morning, what are you going to with your gold? Again, when you get really hungry, how much of that gold will you be willing to part with for a loaf of bread?
@danparish1344 gold isn't much different than collecting baseball cards as an investment. It's only worth what someone else is willing to pay and you have no control over market manipulations.
@@danparish1344 no. It isn’t. It’s just a way to never grow your money.
Can’t eat gold if there’s an emergency.
Can't buy food with a dollar that's worthless.
@@mysticone1798 ….we need to be able to trade goods and services without being taxed on every little transaction. Babysit for mowing the lawn. Fix your window for six eggs. Teach your kid to draw teach mine to change a tire.
Trading includes a bag of items to include alcohol. When the dollar goes barter ensues
Silver coins are way better because it is cheaper, so will be way easier to barter with
You won't be eating crypto either.....lol😊
Thanks
Great information. Thank you. 👍
Really makes me wanna buy gold. Seeing that I'm not at least going to get spot considering we usually pay 50 to 60 dollars over spot to actually buy it. I would rather take the smaller hit on silver.
Can you tell us who offers above spot? Where in usa? Which city? Which store?
My local coin shop had 90 percent under spot 🎉
The shop staying at 50 below since April must still be staying busy, or else they would have adjusted for it by now. Feel bad for those selling to them.
You should try calling a gold max or any other non-coin buying company. It would make a good laugh
Why don't YOU DO THAT...?
The price the companies and/or coin shops will pay for gold purchased @ full price as not point in gold ads that
I have seen. No bullion.
My question is what if the dollar crashes & becomes near worthless what am I going to sell my Gold for the Chinese Renminbi ?
what is spot
My LCS is $15 back of spot
Why don't you do a video showing how much they'll pay for the W-mint versions of both gold and silver bullion as well as the stabbed MS69 and MS70S?
Years ago when i was in the jewelry business we bought Maple Leafs or Krugetanda for casting. Im not sure why because the boss just said it didntcseem right melting US coins.many people assume these voins are pure gold when they are not. They are close but not 100%. And too many of the little bars are just fake.
Holding for long term. Bought a Kruger Rand for $160
thanks for the info
Of course how does, spot now, compare to spot then?
Are there any metric weight coins comparable to gold eagles? I’m thinking of creating my own coins in metric weights… any response will be appreciated, as the expense to mint are high for all the equipment, with no apparent value added for quality art and packaging @ spot price? I could do titanium coins but there doesn’t seem to be much interest 😇
I have to drive 2 hours to the nearest coin shop
How about telling us what you paid for those 1 Oz gold eagles (in dollars),
Why would a dealer give you spot price if they think the price is too high and its going down ..
Almost of these coin dealers are the most dishonest lying thieving but you've ever met! It has a little to do with how much it cost him to be in business and how greedy they are and what links they'll go to to fulfill their coin collection while stripping you of the monies for your collection that you're entitled to as well as your coins! And don't think for one second they care if you're a widow a grandma or someone who's down on their last breath of Hope they will steal from you and make fun of you as you leave their door. I once had a coin dealer in Tyler Texas apparently so they said a very reputable coin dealer told me to cut a 1943 penny so I could tell if it was copper all the way through.... Unfortunately I knew so very little about coins I went home and saw through it... Anyway do not trust Queen dealers you want your money go to a collector site you'll stand a far better chance.
Just because you think the value of your gold is what the market says, you forgot that there's going to be a service charge to convert your gold to green back cash. The laws of supply and demand play a role in the converting your gold to cash.
There are a mutlitude of factors that you didn't consider when making that comment though. Type, size etc all affect the premium. There are plenty of Gold coins that sell for WELL above their spot value right now.
What's different in Minot, I presume ND?
Yup so many con shops on metals. It’s quite a racket
Picked up three and a quarter Oz last week end
So, if everyone is selling because a downturn in the economy. Metals don’t seem like such a gold deal. I think a CD at the bank earning 5% seems like a better deal. And if your doing 3/6 month CDs you stay pretty liquid.
In a major collapse, who's going to pay you for your gold? Will they pay you in cash? And with everything closed you won't be able to buy anything. You can't eat gold.
Personally I think owning hard commodities is not a very good idea for the simple reason those commodities will only bring you what someone will give you for whatever commodity you are trying to sell. If you are holding these types of investment in case of local or world crises that's when the buyer would have the most power over the sellers because of the fact you would be desperate to sell whatever commodity you had to sell. Probably the most valuable asset you could own is Firearms which you can barter on any given street corner 24/7. Not only that but if the person you were trying to do business with got really crappy with you could use the firearm to take what you needed to survive.
Buy it with a built in profit and take a profit while there is a profit to he had.
I own some gold and silver coins as a possible security against the government going bankrupt making paper dollars worthless. But, are those coins worth more now than a year ago in terms of buying power as its seems inflation is up and everything is costing approximately 20 to 30% more, so i assume even my gold and silver are worth less now. Can somebody pleas explain to this me as I’m not savvy on finances at all.
The price of Gold is linked to the US dollar.
In 1970 The United States Dollar was linked to the Gold Standard. The price of Gold was pegged at $60 an Oz.
The Vietnam War was draining the US Gold reserves, so, Nixon pulled the US out of the Gold Standard and the US dollar became a fiat currency. The dollar was worth whatever buyers would pay for it. This caused massive inflation but the price of Gold skyrocketed.
@@visaman Thank you kindly for your explanation. I guess my small bullion will carry me through a total collapse of our government fiat currency. A friend once sent me a government issued paper bill worth 20,000,000 Zimbabwe dollars letting me know i could be a billionaire in that country. 👀🤣
@hectormata449 I have 2 one hundred trillion Zimbabwe bills.
Trillions, man I never thought I would have that kind of money. Last I checked they were worth $14.00 each.
What I learned from this video is: call a lot of places before you sell your gold.
I’m only 10% into the video and I know this is gonna be one of the better ones💪
Such useful information 👌 👍 👏 thank you
spot in Indiana
@@ezal3634 Yeah on gold. I noticed in NW Indiana below spot for silver
Yeah in NW Indiana spot on gold and below spot on silver
Not many places could stay in business if the the bought their stock at the same price as they are selling. Have a friend who collects firearms and whenever he feels like selling one he looks online at what price the gun shops are selling that particular model and that is the price he wants. I'm not buying but I ask him how much that retailer would pay for his firearm. We have a disconnect,..
I never once said they should buy product at the same price they're selling it for though my friend. Shops generally sell well above spot price.