Read and learn here at Charlie Huston! Welcome to our readers, especially to our newbies who may not have heard of us before. Hey, do you like stories about money/finance stuff? If so, I think I have a nice series coming up for you. I cannot promise that it’s only going to be about things like investing, but because I’m pretty deep into studying this type of stuff, I can all but guarantee that I’ll be writing and posting about it.
One thing people talk a lot about these days (and which I see in a ton of other blogs), is on the topic of precious metals. If I told you how much actual gold and silver scrap I’ve been hoarding for years, you might be surprised. The problem, of course, is cashing it in.
You know all those “we buy gold” or “we buy silver” places? The issue there is that the people buying the scrap are needing to make money on it too. So, let’s say you have an ounce of gold. According to the markets today (today being November 28, 2022), gold spot is about $1,758/oz. Does that mean you can waltz down to the “we buy gold” guy and get $1,758 for your ounce? Nah… not likely.
You might be better off buying it in an actual investment account. Maybe. I don’t know your situation, so I can’t say for sure, but if you really want to cash in your gold and silver, just be prepared to settle for less than you may see on the market news channels!