Why would someone offer 6% over spot for gold?

[jeff of pa]

simple he's obviously gambling on the price of gold.
if he holds it long enough. he wins !

Besides My guess he still got it Cheaper from you then
he would have from a Professional Gold Sales Company.

Seriously ! If I was in the Market.
I'd rather pay you 6% over spot for the real deal.
then some Investment company
20% over spot for a piece of paper

That may Say I have to pay them 10% more the day I cash it in,
along with Federal & state Taxes.

 

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[Deft Tones]

Well, I guess it's mutually beneficial. I'm not into restoring jewelry. He's not into metal detecting for it.

I sell only on occasion anyway.

Thanks for helping to ease that nagging question a bit. Perhaps I'll call him again next year.

 

[against the wind]

I have about $1K worth of 14k right now.
I'm waiting for the price of gold to go up. No rush.
Whatever I get will go towards moving expenses.
By the way,, Gold has gone down $130. an ounce in the last month. You can blame Trump, Hillary, or Obama, but I blame Santa. People may be cashing in to pay for Christmas gifts. Especially pricey engagement rings. (Pay it down with old gold you don't wear anymore) When there is a glut of gold or silver, the price drops.

 

[ECS]

Why ? did you pass one ? :P

6% over spot!

 

[Honest Samuel]

Why ? did you pass one ? :P

Yes, and it really hurt bad, but, now I feel much better. Thanks for asking and for your concern. God bless you.

 

[boogeyman]

His business card was a bit odd. Name and number only. Strange but not extremely uncommon in my experience. Like a personal contact card.

It was a nice current model Lexus sedan. He had some thick gold chains on his neck and wrists that I remember thinking too bad he didn't lose those items in the park. He seems like a nice enough family man, but who knows?

We closed the deal at the local cafe. I think when he first approached me in the lot he was coming from the neighboring church with his family. They were dressed nice and that was my impression from the direction they drove.

I really see nothing wrong or suspicious about a business card with just your name & number. I've used them for years. Most situations for me they just need a name & number for contact. I don't have a store front so you don't need the address, and I don't need a bunch of strangers showing up whenever.

Also, scary thing lately is I'm making way more moving costume pieces than gold. Example, you can hit a garage sale and get a large pile using the "How much for it all" approach for a couple bucks. Go home research in your books and resale for sometimes 500+% of what you paid. Look up Avon jewelry on places like Ebay & Etsy. Guarantee you'll blow your mind what people will pay for your "junk jewelry". Vintage girl guides pins (original girl scouts) five in the lot. The whole lot cost me $6, call up a buyer I deal with a lot. Make $375 in under 6 hours or 4 cups of coffee whichever you prefer. The rest of the pile / should bring between $300 & 450. Fraternity pins are moving better than gold for me too! Find a solid buyer / collector and you can move more than you can come up with at good profit. Keep your eyes open for ALL opportunities and keep a good contact list and you'll never struggle.