# Cash for Gold Comercials

#### beenthere

Joined Apr 20, 2004
15,819
It is happening under the current administration and would happen under any administration that had spent $3 trillion more than it expected to collect in taxes. That may be the case. Thread Starter #### HarveyH42 Joined Jul 22, 2007 426 Here's the link to the Gold paint blog entry. http://www.cockeyed.com/citizen/goldkit/gold_kit.shtml It was$1.01, still fairly amusing...

I do think something is up with the gold buying, other than the scam and profit. Notice a sign in an 'antique'/junk shop downtown while walking my dog. Have seen signs on utility poles recently as well.

Did some more reading, seems pretty consistent, that if you refuse the first offer quoted, you will get double or even triple the amount on the first check (guess it depends on if they already melted your stuff).

#### jpanhalt

Joined Jan 18, 2008
8,074
Notice a sign in an 'antique'/junk shop downtown while walking my dog. Have seen signs on utility poles recently as well.
Well, I guess utility poles have all sorts of uses for dogs and people.

I would not put any confidence on such a notice posted on a pole. That pretty obviously is a scam.

There is panic, or at least some people are trying to stir it up. Unfortunately and as is often the case, older people are being preyed upon. Today, I came across a presumably legitimate bullion dealer who had a buy-sell spread of 29%! And, that did not include shipping expenses. The spread on jewelry based on gold content is many times that -- at least an order of magnitude. So, hold onto your jewelry. It is not worth selling and is more valuable in a rational market not melted down. Even when bullion gold was confiscated by the US government, jewelry was not.

John