Replying to Avatar Bit N Beautiful

I don't get why people buy silver and gold.

If you buy it, you'll have to pay a 15% premium on the gold price to the gold trader.

And when you sell it, you'll have to pay a 15% discount to the gold trader.

There's literally only 1 person making money... the gold trader. He earns when he sells and he earns when he buys.

This what Peter Schiff doesn't want you to realize. He's not in it for the hard money. He's not in it for the hedge against inflation.

He just wants you to buy his coins and then sell them back to him.
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TableCityTokers 1y ago

I would say in many instances, the dealer is also taking the risk albeit small. The markets fluctuation can be volatile. What I find most interesting is those that value in numismatics vs intrinsic…I personally would much rather have small denominations in fractional gold or silver than any gov backed token. But I’m thinking in terms of trade. 🫂

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Bit N Beautiful 1y ago

Well, there you hit the nail on the head. I also much rather have a silver coin than a government backed piece of paper.

I'm also buying some silver and gold, but much less than I would want. Just because the afore mentioned. I lose too much value in the trading process.