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Old 11-28-2012
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Default Cashing out by buying gold

Does anyone do this? Do you ship to your home address?
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Quote:
Originally Posted by Jared530 View Post
Does anyone do this? Do you ship to your home address?
just to note that this at one time was a not usually thought of (or at least discussed) very good and clever option for withdrawing cash from a stealth account

the media overkill on "sell your own gold" has made alot of people aware on what they actually have lying around

lots at it though

plus you NEED to know what you are buying

one bad buy of "gold" can cost you lots of hard earned money
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What a stupid option, just withdraw to a bank account. Buying gold and blah blah for investing is over with. When you get the gold, you have to find a way to convert it into US greenbacks. All places will charge you some kind of fee for that.
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Old 11-28-2012
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Unless you are right into the PM market, this has a potential to fail.

Even experts I do business with have been badly stung attempting such methods.

What's your background here? It can be scam city time.

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First, you need to have an address (which matches paypal address) to receive gold.

Second, a TON of ⊗⊗⊗⊗ gold out there....do you know how to test??

Third, whoever YOU sell to to get your hard earned cash, will likely want a 40-50% cut.....you lose.

Still think its a good idea?
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I was a heavy investor in gold and silver American eagles back in 2009-2011 when the gains were exceptional. I bought everything off ebay and craigslist.

It would be a great way to cash out your account because its liquid. You typically buy a 1oz gold american eagle at 100$ overcost as a premium, and that premium is easily transfered when you sell it. I know from experience. Gold is EXTREMELY easy to liquidate at market value.
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Old 11-28-2012
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Great idea, have to find trusted n reliable gold seller... deal locally, not online..

Sent from my Lenovo S880
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Old 11-29-2012
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Great analysis - you really need to KNOW the supplier...the f*ke gold is a big issue..."fool's gold" as it were.
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Great analysis - you really need to KNOW the supplier...the f*ke gold is a big issue..."fool's gold" as it were.
you eliminate that by buying well known minted coins or bars, i.e. american eagles, maples, philharmonics, kruggerands, pamp suisse ect.

Buy from sellers w/ high feedback. w/ a history of precious metal selling.
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Originally Posted by Jared530 View Post
you eliminate that by buying well known minted coins or bars, i.e. american eagles, maples, philharmonics, kruggerands, pamp suisse ect.

Buy from sellers w/ high feedback. w/ a history of precious metal selling.
ok, you need to pay the bills, get money out of stealth....buy a coin, at 10% above spot. HOPE IT IS NOT A ⊗⊗⊗⊗. Then sell for at least 10% below spot. Oh, forgot, gold dropped 8% while you were holding the coin......

You can make some money, but, this carries risk that many can't handle.
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Quote:
Originally Posted by norma View Post
ok, you need to pay the bills, get money out of stealth....buy a coin, at 10% above spot. HOPE IT IS NOT A ⊗⊗⊗⊗. Then sell for at least 10% below spot. Oh, forgot, gold dropped 8% while you were holding the coin......

You can make some money, but, this carries risk that many can't handle.
Lol 10% above, 8% below? You need to re evaluate your processes.
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Old 11-29-2012
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the address issue is the thing anyway, no seller will ship gold to any other address than paypal registered one.
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It all depends on what your 'exchanging' it to. If you buy some coins that some 'guy' found in his grandpa's collection - then you deserve to get burned. If you are buying TRUE bullions like Gold American Buffaloes, Canadian maple leaves, Perth or Johnson Matthey and you know they are legit, then I say thats the way to go.

I personally used to liquidate into silver ( felt more comfortable holding a $40 coin instead of a $1000 ) and was able to sell it to any local coin dealer right at market value. You can get burned a couple of bucks if you sell at the wrong 'time' but its minor at best.

As well tell our customers - buyer beware : )
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Quote:
Originally Posted by Jared530 View Post
you eliminate that by buying well known minted coins or bars, i.e. american eagles, maples, philharmonics, kruggerands, pamp suisse ect.

Buy from sellers w/ high feedback. w/ a history of precious metal selling.
Rather naive.

You are still facing the change of being scammed.

Cashing out gold is not like cashing your wages.

At the very least, you should have an intimate working relationship with the dealer.

Majority of these deals we do one on one, face to face.

We either take Mr Wesson or Mr Glock along as back up.

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Originally Posted by Jared530 View Post
Lol 10% above, 8% below? You need to re evaluate your processes.
I'm in the biz, I know of which I speak.
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Lol 10% above, 8% below? You need to re evaluate your processes.
BTW OP

If you are so very knowledgeable,.....why are you seeking advice here???
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Old 11-30-2012
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For a long run investing in gold,silver is great..If you would ship to your home address your stealth account will go down
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Old 12-01-2012
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Quote:
Originally Posted by norma View Post
BTW OP

If you are so very knowledgeable,.....why are you seeking advice here???
I heard of this "stealth" thing about a week ago, and trying to gather as much info on the subject as I can because I see this being very very very lucrative if done correctly.
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Old 12-01-2012
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Quote:
Originally Posted by Jared530 View Post
I heard of this "stealth" thing about a week ago, and trying to gather as much info on the subject as I can because I see this being very very very lucrative if done correctly.
All that glitters is not gold.

(Soz, I just had to throw that in)

Any type of business done correctly would never ever include a HOME ADDRESS.

Think outside the square.


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Old 12-01-2012
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Think outside the square.


The golden square?
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Old 12-01-2012
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Quote:
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The golden square?
Trafalgar Square


pigeon poop place

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Old 12-02-2012
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Quote:
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Trafalgar Square


pigeon poop place

hahahahahaaha
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