Monday, March 31, 2008

Jewelry gold, on field test

I’ve told people many times about how popular the jewelry gold business became after the 2001 crisis.

So, taking advantage of the current situation, I took a gold 18k bracelet I have, gift from my sister back when guys wore such things. :) It’s just a common gold chain bracelet.

I headed to Libertad street, were many “I buy gold” places are found, and walked into a few places.

After just a few seconds, taking an experienced quick look to see the metal and dropping it over an electric scale, give or take 3 or 4 bucks, everyone offered about 350 pesos, a bit over 100 USD, for the 18k bracelet.

TIP: One nice thing about having a few bracelets or chains instead of having gold rings, is that you can fraction the chain much easier.
So if you just need, suppose, 100 pesos, you can simply cut away 1/3 of your chain, sell it, and use the cash right away, while keeping the rest of it in gold.
This is harder to do with rings.



Anonymous said...

helo ferfal..
i'm 30 year old, live in indonesia

i've read all your post
about suburban survival thing, over and over again...

the best of first hand experince! i ever received/informed are from your post...

our country is having similiar problem with argentina. to be worst
we have gun prohibit here...

recently i've made my own stab prove from 1mm iron plate, since it hard to buy.

i'm managed to buy gold coin, few gold ring. in indonesia, our gold price and spot are not following international gold price..
and we have additional fee for buy and sell gold...

thing get more risky, as president election will be held 2009.

it's nice to know you..
stay safe my friend

Ryan said...

For the economic super inflation scenario having some valuable nondenominational stuff sitting around would not be a bad idea. I can't see the wisdom of purchasing jewelry just for this but it can not hurt to keep some that you own now around in case things get bad.

Concerned American said...

Hugely helpful information, FerFAL. Thanks so much for posting. Keep up the good work.

Have linked to you here:

FerFAL Link on WRSA Blog

Santander said...

Welcome back, FerFal. I've spent some time in your corner of the world lately (me acabo de casar con una portenita). I've missed your information since it was removed from thehighroad.org long ago. I was very glad to see from Cabinboy's website that you've got your blog going.

I have linked your blog here: http://gramme-of-soma.blogspot.com/

mikej said...

This is interesting. Now that the value of the U.S. dollar is approaching that of toilet paper, I see TV commercials for something called the "Gold Kit." The advertisers will send you an envelope in which to mail them your "junk gold," for which they promise to send you back some money. I'm not sure what really happens if you're not happy with the price they set.

Anonymous said...

Hi. I'm in New Zealand and enjoyed reading your blog - thank you very much for writing it and sharing it. I'll check back in to see anything else you add. I am blessed to live in a stable and safe country and also to live a comfortable life, but I fear the way the world is going and believe we should all prepare as best we can for the future chaos and change I can see unfolding. Kindest wishes to you and yours. Geena.