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/biz/ - Business & Finance

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57122101 No.57122101 [Reply] [Original]

I just found out goldbugs have to pay 20% premium over spot price for those little bars. They need a 20% pump just to break even lol lmao.

>> No.57122136

>ummm actually I know a guy who sells me them at market price, and he buys from me at market price too
Is the larp they always go with. It's always some guy

>> No.57122164

>>57122101
>OG shitcoin merchants have 10% buy and 10% sell tax
lmao

>> No.57122269

that sounds like a load of bullshit. who would accept that term?

>> No.57122298

>>57122269
Physical goods always have a premium. Nobody's going to sell you something for what it's actually worth, there's no money in it for them. They're not going to buy your second hand goods at the same price they can buy gold directly from a trusted source either

>> No.57122305

>>57122101
wait really? kek, meanwhile i was getting pissed off at d0b o for having a 10% tax

>> No.57122307

>>57122101
>he's not the guy buying 20% under and selling 20% over
NGMI

>> No.57122358

>>57122307
Are you a bank? Are you as trusted as a bank? Then you're not getting a premium, you're selling second hand goods from some guy

>> No.57122363

>>57122269
people who need cash but have gold instead

>> No.57122367
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57122367

>>57122101
>>57122136
>>57122164
Hello jews.

>>57122269
Welcome to the daily jewish bullshit thread about how bad it is to hold real assets.

>> No.57122374

>>57122358
I identify as a bank. Glowies tongue my anus.

>> No.57122377

>>57122101
>>doesn't specify the size of the gold
>>thinks it's a gotcha and not a bait thread

>> No.57122420

>>57122101
Congrats, you found put that the shiny rocks are worth dogshit if the ones controlling the market deems them as such.
>that will be 10 gold bars for 2 loaf of bread
>NO THIS IS A CRIME
>12 goldbars for 1 loaf, take it or starve

>> No.57122434

Jews rape children.

>> No.57122440

>>57122269
turns out it actually costs a lot of money to transport raw ore out of the ground, refine, smelt, press it into tiny little coins/bars, wholesale it, then retail it while covering transport cost between every one of those points in the supply chain. Overall a pretty inefficient process, hence the premium.

>> No.57122452

>>57122420
Imagine sharing a board with someone this stupid.

>> No.57122517

>>57122358
Are you an angry Jewish woman?
Because you sound like one.

>> No.57122551

>>57122517
>>57122367
>muh Jews
You mean the one group of people who is historically known for selling gold? Those are the ones you're epically owning by buying gold? Don't tell Mr. Goldman he'll be really upset

>> No.57122568
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57122568

>>57122551
>deflecting like a woman
Welp, this short bus is going nowhere fast.

>> No.57122706

>>57122452
20 goldbars for a chicken, deal?

>> No.57122874

>>57122269
That's because it is bullshit. Gold bullion and gold bars usually sell for no more than a 5% premium. Typically 2-4%
At my coin shop the highest premium is 18% on 1 gram bars.
I could imagine some very rare or limited edition minting commanding a higher price but that's getting into coin collecting. If you're buying for weight, you won't care about that.

>> No.57122885

>>57122367
I mean, they aren't wrong about the bullshit premiums.

>> No.57122918

>>57122420
salt was worth much more than shiny rocks at one point in time

>> No.57122942

>>57122885
>I mean, they aren't wrong
Yes, they are. You can acquire gold for under spot and sell it near spot if you time it right.

LibertyCoin right now has Austrian Gold 100 Coronas for ~$20 over spot, but these sometimes go on sale for under spot as well.
Either way, it's not 20% or anything remotely close to that unless you're intentionally sabotaging yourself.

>> No.57122949

why don't you just buy mining tailings and get it yourself?

>> No.57122951

>>57122706
a silver half dollar buys 2 loafs of bread, stop acting retarded op

>> No.57122968

>>57122942
its not hard to find deals if you know where to look

>> No.57123028

>>57122951
1 Gram Gold = 237,139,258.13 Venezuelan Bolívar Fuerte
1000 grams of gold for one chicken leg, my best offer.

>> No.57123103

>>57122942
So the strategy is to just watch the premiums and look for sales and such? Or is there more to it?

>> No.57123119

>>57122101
its worse, a lot of shops dont even offer spot unless its a gold eagle or krugerrand

>> No.57123122

>>57122968
Where do you look?

>> No.57123146

>>57122101
>day trading metals for monopoly money
NGMI

>> No.57123218

>>57123122
there was a guy on pmsforsale that was selling 100 corona restrikes at below spot at $1935 when spot was 2051 a couple days ago

>> No.57123378
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57123378

>>57123028
stfu you baiting retard ,one gram of gold at $66 buys you 2 weeks worth of groceries

>> No.57123491

>>57122101
There are different forms of investor quality gold...Bars, coins, rounds, etc. The bars and rounds both generally do not hold onto their premium, i.e. when you buy it you take an immediate haircut on the value of your gold...certain coins however, specifically gov issued coins (gold american eagles) actually hold onto most if not all of their premiums. The main point here is each type of PM has different retention of premium...you definitely cant just blindly buy and hope to either make money or break even. Do some research (call your local coin shops and check what they are paying for various items) before aping into the pretty skull shaped gold bar with a painted on face.

>> No.57123543

>>57122367
>covets shiny metal and hoards it like a dragon
>calls people jews

>> No.57123627

>>57123218
How can you tell that you're not going to get ripped off on there?

>> No.57124674

>>57123543
>covets
>hoards
talking like a woman

>> No.57124712

>>57122568
>deflecting
That's called arguing, not that you would know, you haven't tried that so far

>> No.57124726

>>57124674
Women love hoarding gold. I don't know why you think "like a woman" is an insult if you're buying jewelry in bulk

>> No.57124743

>>57124712
>"jews historically sold gold so you're just joining them"
>That's called arguing
It's really not.

>>57124726
>Women love hoarding gold
Women love diamonds, virgin.

>> No.57124841

>>57124743
>silver is Worldcom
>gold is AOL
>platinum is Google
Can you refute this? PMs will have a paradigm shift someday too, it almost seems like TPTB are programming younger generations to value platinum over gold with all their vidyagaem rankings.
t. 20 oz of platinum (equivalent to 400 oz gold)

>> No.57125000

>>57123627
Checking they're feedback and other people experience with them,theyre basicaly a small community thay buy and sell from eachother ,they have a colored flair that shows how many sales they've done,I bought 2 double eagles libertys for around 2060 each a frw days ago where as those same coins would've costed me 2200 if I bought from online dealers,another thing I've noticed is that most buyers and sellers are from the midwest

>> No.57125001

>>57122101
As opposed to having all your fiat inflate 200% every year
nice job anon
proud of you

>> No.57125006

>>57122440
uhhh but thats all included in the cost of gold

>> No.57125020

>>57125001
ok sir but when gold stays the same price as the inflating fiat
you are actually losing money
holding gold

>> No.57125045

>>57122942
>You can acquire gold for under spot and sell it near spot if you time it right.
with that logic just trade options and become a billionaire in a few years

>> No.57125051

>>57125045
As long as you time it right, 1000x leverage will turn you into a billionaire in a month

>> No.57125452

>>57125020
check the charts
you're a fuggen idiot
only in the past few decades have people flocked towards the USD in times of economic collapse
Every other time in history, it has been gold or silver or platinum.

>> No.57125466

>>57122551
KEK PMG fags blown the fuck out.

>> No.57125473

>>57125452
enjoy your gold

>> No.57125499

>>57125473
I'm 100% in crypto and only ever keep 1k in my bank
Take risks, play things smart
Understand that it's all a game, and only real world assets matter at the end game
but let's not be retarded and try to claim gold isn't the standard and gods currency

>> No.57125596

>>57125499
golds ATH was in fking 1980
Buy real assets with real uses, like stainless steel

>> No.57125650

>>57124841
>it almost seems like TPTB are programming younger generations to value platinum over gold
Platinum records came out in 1976 and platinum video game trophies were more popular with PlayStation folks, it's not really a programming thing. We don't have platinum medals at the olympics either.

>>57125045
>with that logic just trade options and become a billionaire in a few years
I wasn't putting out logic I was putting out facts about acquiring and selling physical PMs. Dumbass zoomer. I'm not saying there's an infinite money cheat.

>>57125499
>I'm 100% in crypto
You're late. Seriously. Where were you in 2016-2017?
t. oldfag who already made his crypto money and put it into PMs

>> No.57125893

>>57122101
>They need a 20% pump just to break even
It's worse than that. They sell those gold bars at 20% below spot. You have to be extremely low IQ to buy precious metals.

>> No.57126314
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57126314

>>57122101
I'm looking at 1 oz krugerrands for under 2% premium right now. Denounce the Talmud.

>> No.57126609

>>57122101
>Buy gold at 20% over spot
>Gold dealer buys it back at 20% BELOW spot

Gold cucks btfo

>> No.57126663

>>57122269
physical delivery has a premium at all times, however, it isn't historically this high. when i was paying around $800 for a 1oz coin, the premium was 3%.
what's happening right now is that physical is becoming incredibly scarce. the gold market desperately wants buyers to trade paper contracts instead of taking delivery.

>> No.57126682

>>57122136
That's because he sells gold painted tungsten.

>> No.57126684

>>57125006
yes, the final cost, of delivery. after the retailer charges you that fee.
spot is not a real price, it's a benchmark. the only parties that actually pay spot are the same ones that fix the price at the level of international exchanges.
https://en.wikipedia.org/wiki/Gold_fixing

>> No.57126688

>>57126609
Lmao gold cucks are so pathetic, like the kind of pathetic that pays another guy to fuck their wife

>> No.57126709

>>57122551
>historically known for selling gold
kicked out of 109 countries for coin clipping

>> No.57126721

>>57122101
Worse than that, you have to recertify the gold before selling it. That’s why people buy paper gold. It eliminates premiums and fees.

>> No.57126730

>>57126721
no it doesn't. you pay an expense fee for an ETF and you pay a sponsor fee for a trust.

>> No.57126768

>>57126609
>buy milk at 20% over cow
>farmer buys milk at 20% below cow!!!
>I am very smart
your problem is you have cumbrain for fiat gains. of gold's many uses, none of them are "waiting for it to appreciate a bit before selling it again."
for the purpose of securing your financial status, you allocate a certain % of your portfolio to 1oz coins of the national mint of your country, acquired through a reputable seller, with assay. this is usually a very small position, like 5%. it is your emergency button for political instability, as it can lead to mass inflationary events that will effectively terminate your standard of living, permanently.
i don't expect everyone to understand this. but if your money is gone now, just a number in a phone app and another one at a crypto exchange, you don't have any financial status at all. so don't worry about it.

>> No.57126793

>>57123146
This

>> No.57126818

This is why I buy PHYS. Actually trades at a small discount to spot based on NAV. If you were really rich and wanted physical bullion, you could actually buy good delivery bars at about a 2% discount by buying PHYS and redeeming your shares.

>> No.57126870

>>57123028

I have Gold and Lead. How about you give me all your belongings for free, and I don't put a round in you? It's a Good deal I suggest you take it.

>> No.57127304
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57127304

>>57122101
>They need a 20% pump just to break even lol lmao
*sigh*
Maybe some day