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/biz/ - Business & Finance

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18175367 No.18175367 [Reply] [Original]

the 'We Buy Gold' stores were scams, right?

why invest in a whole storefront shop just to 'convert' someone's gold into cash?

Is the gold standard really coming back, and those shops were their way of giving us useless paper in return for precious metals?

>inb4 south park did it first

>> No.18175384

>>18175367
They also sell gold, for more than they pay for it

Hope this helps

>> No.18175410
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18175410

>>18175367
>They buy gold way below the spot price since retards with jewelry don't even bother to check the spot price before going to sell their rings and necklaces. then they can resell the gold above spot price and make money that way.

>> No.18175419

>>18175367
They will pop up again very soon. They just hoard physical and dump it at the top

>> No.18175457

>>18175384
true. so they pay less when buying gold and they get paid more when selling gold. could have just gone to a pawn shop, but those 'We Buy Gold' stores were literally everywhere, even ghettos and nice areas and malls, very strange

>> No.18175470

>>18175367
Gold standard basically has to come back.

>> No.18175485

>>18175419
Dollar value of gold is irrelevant. And the dollar is dead this time

>> No.18175501

>>18175457
How is that strange? People in nice areas have gold jewelry they may want to sell and ghettos have niggers with gold jewelry they stole from nice areas.

>> No.18175509

>>18175410
sounds about right. plus a good place for thieves to liquidate their merch

>>18175419
i doubt they would gamble to that extent if they don't know how long it'll be before the top hits. the monthly rents + employee salaries would add up quickly if the market stays low like it's doing now

>> No.18175539

>>18175501
just seems that the fluctuation of gold price was unpredictable enough back then to where opening up all those shops would be risky. if they had proven data that people wanted fast cash at that time then it would make sense

>> No.18175926

Are you guys stupid? These stores almost always have other things for sale or do alternative businesses.
My father ran an auction house and on the side operated a small time pawn shop, and gold, silver and diamond trading too. There's always a quick buck somewhere