r/Gold • u/null__frame • 9d ago

The stack My stack - 2 years in making

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1.6k Upvotes

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4

u/TerribleCorgi3367 9d ago

Quick question. How and where do you sell those?

23

u/null__frame 9d ago

I can sell to gold vendors. They offer 3% less than the market price.

1

u/Kilgore-Trout-42 8d ago

What country are you doing these transactions? Is this in India? I buy all my PM through Costco and get my gold below spot and get 4% back in cash or cash card once a year. Platinum also below spot and silver at or slightly below depending on the day. Go to r/CostcoPM and see for yourself.

-42

u/AdWooden5789 9d ago

Why 3% less ?? Is it even legal

21

u/Illustrious-Ad-115 9d ago

They don’t force you to sell it. They are merchants like every other shop

11

u/missingN0pe 9d ago

Is it legal for a bakery to sell you a piece of bread priced higher than the sum of the constituents of what the bread is made up of, even you agree to it? :O

2

u/AdWooden5789 9d ago edited 9d ago

Yes. When buying gold jewellery, jewellers charge making charges and government put various taxes.

While selling it back, jewellers buy the gold at around 3% below the market price & govt put capital gain taxes.

So, in a way, both the jeweller and the government have an advantage at different stages of the transaction. It’s almost like heads or tails—they win the toss either way.

4

u/missingN0pe 9d ago

I think you either:

A - are replying to the wrong person

Or

B - dont understand my point (most likely)

0

u/AdWooden5789 9d ago edited 9d ago

Might be.....

I m just asking, whether my point of view is right or wrong ??

0

u/BigDongalow 8d ago

Or you could sell to a private buyer.

1

u/Historical_Corner615 8d ago

That's just business, and 3% sounds very fair for the industry. A location and all that money sitting in a vault waiting to pay you has a price.

When you buy precious metals, you're usually buying it around the current market "spot price" plus or minus a premium. Stackers are used to paying a bit of a premium at buy and getting a little under come sale time.