General Poor Man's Game: Gold,Silver,Platinum, and Palladium
- Thread starter Enock-O-Lypse Now!
- Start date
What are they offering you?
If gold & silver are ever re-valued to discovery prices, like as a gold standard, it would solve financial debt issues.
But these phones/tablets/computer harvesting would become illegal to toss as pm prices 10x.
There's a guy I watch occasionally on YT called SREETIPS who extracts from various sources & pours & sells his own bars.
View: https://youtu.be/Oo0Wt-2Tlyk?si=6LgUiOkKSyVjP4oH
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What does this sentence mean?
Totally hypothetical assumption, that if gold were revalued to 'Jim Rickards' level, IE $50,000/oz., it would be illegal to throw away phones, like TV's, appliances, used motor oil etc.
And that a government-imposed program to recycle due to 'environmental' concerns would be implemented.
You'd want to find a chain coin shop in a densely populated area.
And honestly create a relationship with the industry like you would a bank.
I hear this, but which owner is going to accept a loss?
It's not a loss.for them.
They buy at spot & sell a premium, at least.
When the G/S ratio was crazy high 120/1 & I noticed low premiums on silver I traded G for S AE's.
Where are you located
@Jam_Handy ?
@Jam_Handy ?
CincyWhere are you located
Ouch!! ...pretty dirty too!
Doesn't hurt calling around, every year I'll call around even to different states to see what they are buying / selling for just to get an idea.
I just called Main Street coin in Cincinnati, they aren't open today but are on Monday.
For a gold ounce they will pay $20 under spot.
If you look at premiums which can range a bit but let's say you get a gold ounce for $60 over spot especially over the last year and selling back he would have made $600 per ounce.
Shop near me has it clearly posted at all times, a digital screen. They must have some program they are sticking to.
Prices for buying or selling are clearly listed up to the minute by coin or description(ASE AGE Kookaburra Krugerrand Maple, etc... etc...). Junk and Jewelry requires a quick discussion but they buy and sell their gold jewelry for a set percentage based upon amount of gold(they basically skim a small percentage for the transaction). Very old school store that has been around for 70 years or more, they don't fuck around.
Prices for buying or selling are clearly listed up to the minute by coin or description(ASE AGE Kookaburra Krugerrand Maple, etc... etc...). Junk and Jewelry requires a quick discussion but they buy and sell their gold jewelry for a set percentage based upon amount of gold(they basically skim a small percentage for the transaction). Very old school store that has been around for 70 years or more, they don't fuck around.
My local guys have the screen up too, I believe they said it they use Kitco live charts.
@Jam_Handy sounds like you got a sketchy shop, all the ones I've dealt with will lock in your price over the phone and stick to it when you arrive. Look around for better shops.