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News Time to sell those wedding rings.

  1. Aug 22, 2011 #1
    http://www.bloomberg.com/news/2011-08-22/gold-tops-1-900-for-first-time-on-concern-global-economy-may-weaken-more.html" [Broken]

    Prices are still said to rise. Up and down up and down.
     
    Last edited by a moderator: May 5, 2017
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  3. Aug 22, 2011 #2

    Astronuc

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    So now we have a gold bubble. :rolleyes:

    Of course, the outcome of the burst is predictable.
     
  4. Aug 22, 2011 #3

    BobG

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    I should, considering I've been divorced for over two years. I wonder where I put it.
     
  5. Aug 22, 2011 #4
    You might want to start looking.:smile:

    Gold calculator

    http://gold.yabz.com/jewelry.htm
     
  6. Aug 22, 2011 #5
    Did anyone else think the guys on TV displayed marketing genius the first time you saw the commercial that proclaimed - 'mail us your gold' - then we'll figure out what it's worth and mail you a check? :uhh:
     
  7. Aug 22, 2011 #6

    Evo

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    Yeah, unless it's really tacky, the jewelry would have more value than the gold by itself, you do pay for the finished product (when you consider how much you paid for it). But if gold goes up enough, sell that tacky jewelry!
     
  8. Aug 22, 2011 #7
    I have a friend in the wholesale jewelry business. He claims the markup at the mall is 10x cost. He's also dabbled in wholesale scrap (gold and stones) from pawn shops. The gold is melted and recast and the stones are cleaned and reset - then sold as new. His favorite saying is "there's no such thing as a "new" diamond.
     
  9. Aug 22, 2011 #8

    Evo

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    I worked for awhile at a Boston company that bought out bankrupt jewelry stores and large estate sales. We had incredible one of a kind pieces. We had Jose Hess pieces. A friend offered to buy me a $92,000.00 Jose Hess necklace, just because he liked me. I refused. It was cool too, a thick 18K gold diamond encrusted torque with two jaguar heads with rubies and sapphires.

    WHY AM I SO STUPID????? The guy was a multi-millionaire and it would have made him happy!!! He was dating my boyfriend's sister and I gave him some good advice and he wanted to repay me. AAAARGHH!!
     
  10. Aug 22, 2011 #9
    Ouch!
     
  11. Aug 22, 2011 #10
    If my wife tries to sell her wedding ring thinking it's real gold, I'm in deep doodoo.
     
  12. Aug 22, 2011 #11

    Evo

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    What's brass going for? I hear copper is up?
     
  13. Aug 22, 2011 #12

    turbo

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    I bought my wife's wedding band (antique 3-color German sculpted gold) when gold was even higher than it is today in inflation-adjusted prices. Thank God, I had friends in the business who were buying and selling at market (spot) prices, and they were loathe to let such a beautiful ring be scrapped.
     
  14. Dec 15, 2011 #13

    Astronuc

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  15. Dec 15, 2011 #14
    If CD's ever pay a decent rate again look for gold to fall even more. If the dung ever hits the fan, food, water and guns will be more important.

    Skippy
     
  16. Dec 15, 2011 #15

    turbo

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    I have food, water, and guns (and plenty of ammo!). I have silver and gold scrap in the safe, but no need to sell them, so there they will stay.
     
  17. Dec 15, 2011 #16
    something very strange is going on. i just found out yesterday that a $1 trillion dollar lawsuit was filed in federal court on 11/23/11 by a lawyer named Keenan for a wealthy asian family, and it is supposedly regarding bonds issued by the federal reserve for gold deposited.

    YlxPL.jpg
     
  18. Dec 15, 2011 #17
     
  19. Dec 16, 2011 #18
    do you happen to remember what sort of motivations people had for doing this? if it's fake, and the bonds are forged, then you'd think it'd be discovered quickly and dismissed. somebody would spend a lot of money putting this together knowing it is going to fail. so what i'm wondering is if the real aim of filing a false claim is some kind of market manipulation.
     
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