More than ever people are having trouble playing their bills
Everything is getting more expensive while the average wage has not gone up to match the inflation and price rise of goods
I had some old jewellery that I don’t like or even want.
Figured why not get rid of it and buy some gold and silver coins that I do like
While waiting for my cash I could hear all the people coming in to sell their own jewelry and boy was there a lot of people lining up
The one thing I noticed that separated me from them is how much they talk.
I literally sit there on my phone working while the person is testing the metals and preparing my receipt and money… I do not need to waste their time and they do not need to waste my time with nonsense talk… we are not there to make friends. I am there to sell something. They are there to work.
So I always have laugh to myself when I can hear other customers go on and on and on and on about everything that no one really wants to hear and they never seem to pick up on the “I don’t give a shit” tone that the employees have when they answer back to the verbal diarrhea.
With metals at these prices I am not surprised to see these people lining up to cash out.
The thing is, all these jewelry will be melted and then sold off to people who want to stack. This sort of takes away from the chewing up of the total supply.
Think about it, instead of buying metals that are on the market already, we will be buying rounds and pieces that were melted from all these people who have been holding onto it for years… I mean the necklace I got ride of was around 13-14 years old so how much ancient gold and silver is being taking out of the drawer and returned into circulation.
I am sure there is a correlation between the price of gold and silver going up and the number of people going in to sell jewelry… would be an interesting thing to look into. A sort of velocity where price determines supply shifts…
The price has indeed been interesting. Had someone sold today instead of yesterday there would have gotten more $ … I wonder what tomorrow has in store :)
