Exchange Your Gold for Bitcoin or Cash

[mistaPhi]

When buying precious medals at retail, you'll often pay a premium above the spot price. Not a big deal, but most of us never consider the cost of selling these assets.

Well after holding precious medals for years, I though I'd dump some and buy Bitcoin instead. And guess what... Retail buyers offer 15% - 32% below spot!

Can you imagine holding an ounce of gold priced at 3,171.40 and selling it at $2,696.20? That's 15% What a joke!

And then you have people like Peter Schiff bashing Bitcoin and trying to get people to buy gold. This only profits those that trade precious medal. We as customers always get the short end of the stick because we PAY MORE to acquire precious medals and RECEIVE LESS when selling them. Of course the same applies to buying Bitcoin, but the margins are nowhere near as high. Depending on where you buy/sell your Bitcoin, you can exchange it at margins between 0% and 1%. BIG DIFFERENCE!

Nevertheless, I'm still somewhat of an advocate for gold coins so if anyone is interested in selling 1oz Gold Coins, I'll pay 10% below spot. I can pay in Bitcoin, cash, cashapp, or Zelle. I'm only interest in gold coins (no silver, no bars, no jewelry, and not scrap).

Whatever precious medals you have, look around to see how much you can sell them for. Unless you attend an auction or marketplace for coin traders, you will get much less than the asset's market value. So if you have any 1oz gold rounds, I'll be happy to take them off your hands at 10% below spot...

The lesson I've learned is to never buy precious medals at or above spot again.