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File: 50 KB, 400x400, Gold-Bars-100-oz-large.jpg [View same] [iqdb] [saucenao] [google]
[ERROR] No.10159169 [Reply] [Original]

Anyone have experience with buying/selling gold, silver or other precious metals?

>> No.10159195

It's a boomer scam. If you buy or sell the wrong thing, the IRS gets a nice little letter from the dealer. If you go over $10k in one transaction (day), the IRS gets a nice little letter. There's no liquidity. The price is dictated by people who are on their deathbeds and who believe a bunch of stupid fucking bullshit, right up until that stupid fucking bullshit actually gets tested, at which point their gay little conspiracy theories prove to be completely off base.

Gold is good for maintaining your wealth through generations as a sort of storage vehicle. If you are going to die and want to transfer your wealth, buy gold and bury it. If your local economy is going to collapse, buy... crypto. Buying gold in this economic climate is the most hilariously boomer meme of all. It's just a fucking joke.

Fuck gold and fuck gold bugs.

>> No.10159272

>>10159169
>boomer scam
>has been around for literally ever
>zoomer idiot

>> No.10159314

Yes. I went to my local metals dealer and bought some silver.

>> No.10159377

>>10159169
only sell to huge dealers, or private parties that are looking to buy. small time shops have to rape you for their overhead. I've only sold once but i just registered mailed that shit to jmbullion, turned extra profit on the money i pulled out for taxes, and ended up selling at $1343/oz, so i could buy back now for another 8% profit.

There's 2 reasons to buy gold: mid to long term hedge against fiat (meh, i got lucky imo), in which case you've gotta do things by the book. the profit margins are slim enough to start with, but unless you hustle fools you're not gonna profit buying and selling off untraceably. Reason 2 is a hedge against society/emergency, in which case you don't want ANYONE to know you have it, and you'll either take a loss to cover your ass in the case of an emergency, or people are gonna be getting shot left and right before you're able to cash shit in again. you'll take a hit selling it in that case too, having to sell off-market below spot or pay taxes on $0 cost basis (selling below spot will be cheaper), but it will carry your value through a total catastrophe, where any given fiat could become completely valueless, or 10-1000x devalued.

>>10159195
why don't you go learn how to change a tire or something useful

>> No.10159497

>>10159169
gold and silver is very liquid. you can sell to your bank, pawn shops, specialized dealers, etc.

the USD's set standard for inflation is 2% a year. That's a lot and the Fed considers that normal.

So while gold/silver isn't a get rich quick scheme, it's an ideal protection against this inflation. It's smart to just slowly acquire a few oz of silver every now and again throughout your life so when the BIG ONE hits, a large portion of your savings will stay safe.

Currently I'm holding a % of my savings in precious metal to help diversify

>> No.10159746

>>10159377
>why don't you go learn how to change a tire or something useful
See? This is the kind of shit these retards post

>> No.10159765

>>10159169
i do ama
it generally sucks ass if that's what you wondering

>> No.10159790
File: 45 KB, 890x625, price-gold-real-us-dollars-adjusted-shadowStats-inflation.png [View same] [iqdb] [saucenao] [google]
[ERROR]

>>10159497
gold as an inflation proof asset is a fucking bad meme and a lie.

>> No.10159807
File: 27 KB, 825x575, total-gold-reserves-total-gold-production.png [View same] [iqdb] [saucenao] [google]
[ERROR]

>>10159790
also note how gold is mined at an exponentially growing rate miners actually try to hold back not to drop the prices further. we will never ever run out of gold we will just mine it at an ever increasing rate. meanwhile population growth has capped to the current food supply limits.

>> No.10160575

Do not die thread
I had to help a friend sell some jewelry the other day but we didn't end up selling any and I want to find a better way than giving it away to scammy pawn shop owners

>> No.10161574

>>10160575
i dont have a link handy but there are smelters online that will buy from you and give 90% of melt value or more, those are the people that gold buying stores sell to.

>> No.10161641

>>10159746
Just giving you the false sense of superiority you obviously wanted. I'm the retard, sure.

>> No.10162073

>>10160575
Silvergoldbull.com/.ca buys scrap and jewelry, I can't vouch if there good for selling, but for buying they're pretty decent especially if you're looking to stack metals.

>> No.10162254

>>10159807
What makes you think that the world population has capped? it will continue growing and agricultural teqniques will continue to yield more and more produce.
there is only a limited supply of gold in the earths crust. it will always be valuable. even if asteroid mining becomes a thing.

>> No.10162262

>>10161641
>I was only pretending

>> No.10162463

>>10159807

Population is growthing exponentially, on top of future anti aging cures etc

World economy is growthing and growthing in a fucking epic rate

World debts are growthing at the same fucking epic rate

Gold is mined more = bad, okay. :)

>> No.10162911

>>10162463
What did they mean by this?

>> No.10163150

>>10162262
pretending to not think you're retarded? got me. you obviously can't even change a tire, yeah that makes me a retard.