Investing/dumping cash into gold

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  • DraX
    Confirmed User
    • Oct 2002
    • 7147

    #1

    Investing/dumping cash into gold

    I'm about to start a round of dumping some cash in gold, because of a lets face it unstable world.

    What's the best stuff to purchase today, certified gold bars, bullions, other tangibles, what are you getting ?

    I was recommended american gold eagles, easy to sell or trade if needed but was also told also to diversify my investments.

    Would love to hear suggestions and other ideas from the experts of gfy.
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  • sandman!
    Icq: 14420613
    • Mar 2001
    • 15427

    #2
    you can pick up 1oz bars on ebay
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    Comment

    • MassMarketing
      TPMN
      • Jun 2014
      • 589

      #3
      Pawn shops?
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      • Barry-xlovecam
        It's 42
        • Jun 2010
        • 18083

        #4
        Have you considered just where you will store the gold?

        The Greek government shut all the banks down for weeks when there was a crisis This is how governments do things. In a real crisis gold stored in safety deposit boxes might be confiscated, with a government note securing it's value tendered, just to make the confiscation constitutional.

        Bury it in your backyard, store it uninsured in a home safe in the basement?

        Comment

        • lezinterracial
          Confirmed User
          • Jul 2012
          • 3123

          #5
          Originally posted by sandman!
          you can pick up 1oz bars on ebay
          I like e-bay. I have only bought silver though. Also

          Buy Gold & Silver Bullion Online | Free Shipping - JM Bullion
          and
          Gold and Silver prices, Silver Bars, Gold Bullion Coins | APMEX

          These guys sell on ebay too.
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          • $5 submissions
            I help you SUCCEED
            • Nov 2003
            • 32189

            #6
            The smart money's pouring into BONDS.

            BONDS were beaten up prior to Friday........

            NOT ANYMORE!

            Comment

            • lezinterracial
              Confirmed User
              • Jul 2012
              • 3123

              #7
              Oh yeah. I tend to go for rounds. I like stuff with a cool design. I will pay a little extra for something like "Year Of The Dragon" or "Year Of The Snake". Always have to say 1 Once .999 Silver.

              You probably already know this - but stay away from anything clad or leaf.
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              • Vendot
                Confirmed User
                • May 2002
                • 3376

                #8
                Looks like gold rallied this week as shorts got squeezed, could be a turning point as the fourth quarter tends to be a period when gold rallies due to higher demand from India/China festival periods and usually goes into at least February due to Chinese new year.

                Then there's the all the talk coming out that raising rates in September is now likely off the table but commentary I read says that the buildup to raising rates has already been priced in and even if rates go up, they'll stay low for a very long time and comfortably below the rate of inflation (which is higher than what's reported). Plus we have an overdue stockmarket correction (Dow closed down 500pts on Friday).

                Then last week I read Druckenmiller (Soros ex partner) put a big bet on Gold in second quarter:

                Stanley Druckenmiller's $300 Million Bet on Gold - Equities.com - Global Financial Community

                I would suggest your timing is good.... it's prudent for everyone to have (at least) 10% exposure to gold and/or silver but physical should ideally be geographically diversified from a storage point of view. Whilst I very much doubt the US would confiscate people's gold again, it might be sensible to store outside your country of residence because when things turn bad your government will love your gold as much you do.
                "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                Comment

                • JFK
                  FUBAR the ORIGINATOR
                  • Jan 2002
                  • 67369

                  #9
                  nice rally this week

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                  • aka123
                    Confirmed User
                    • Jul 2014
                    • 4450

                    #10
                    When seriously investing into gold (and not into numismatics, etc.), the only real option is gold bars.

                    Personally I am not that much interested about gold, unless you prepare to some scenario where you would use it simply for trading common goods. Anyways, as most people don't have gold, there would be other means to trade too. Probably just plain cash. They use it in Zimbabwe too despite of all the shit.

                    Comment

                    • MrDeiz
                      • May 2008
                      • 9802

                      #11
                      Can you tell me, please, when exactly the world has been stable during the past 2,000 years? Very appreciated
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                      • 420
                        cuck
                        • Mar 2003
                        • 11571

                        #12
                        Originally posted by $5 submissions
                        The smart money's pouring into BONDS.

                        BONDS were beaten up prior to Friday........

                        NOT ANYMORE!
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                        • VikingMan
                          Exploiting human weakness
                          • Jan 2008
                          • 6870

                          #13
                          But Krugerrand s from golddealer.com. Paying extra for Gold Eagles is gay.

                          Comment

                          • DraX
                            Confirmed User
                            • Oct 2002
                            • 7147

                            #14
                            Originally posted by Barry-xlovecam
                            Have you considered just where you will store the gold?

                            The Greek government shut all the banks down for weeks when there was a crisis This is how governments do things. In a real crisis gold stored in safety deposit boxes might be confiscated, with a government note securing it's value tendered, just to make the confiscation constitutional.

                            Bury it in your backyard, store it uninsured in a home safe in the basement?
                            Yes you right I would stay away from safety boxes in banks.

                            Backyard or hidden in basement, why not...

                            Originally posted by lezinterracial
                            Oh yeah. I tend to go for rounds. I like stuff with a cool design. I will pay a little extra for something like "Year Of The Dragon" or "Year Of The Snake". Always have to say 1 Once .999 Silver.

                            You probably already know this - but stay away from anything clad or leaf.
                            If you like design, have you looked at the chinese panda coins?

                            Originally posted by Vendot
                            Looks like gold rallied this week as shorts got squeezed, could be a turning point as the fourth quarter tends to be a period when gold rallies due to higher demand from India/China festival periods and usually goes into at least February due to Chinese new year.

                            Then there's the all the talk coming out that raising rates in September is now likely off the table but commentary I read says that the buildup to raising rates has already been priced in and even if rates go up, they'll stay low for a very long time and comfortably below the rate of inflation (which is higher than what's reported). Plus we have an overdue stockmarket correction (Dow closed down 500pts on Friday).

                            Then last week I read Druckenmiller (Soros ex partner) put a big bet on Gold in second quarter:

                            Stanley Druckenmiller's $300 Million Bet on Gold - Equities.com - Global Financial Community

                            I would suggest your timing is good.... it's prudent for everyone to have (at least) 10% exposure to gold and/or silver but physical should ideally be geographically diversified from a storage point of view. Whilst I very much doubt the US would confiscate people's gold again, it might be sensible to store outside your country of residence because when things turn bad your government will love your gold as much you do.
                            Yes I noticed the boost this week. I wonder if gold already hit bottom low for this time, or if it can turnaround and go down to $1000.

                            Originally posted by MrDeiz
                            Can you tell me, please, when exactly the world has been stable during the past 2,000 years? Very appreciated
                            Just trying to protect myself. I suspect it could soon get worse than the 2008 real estate crisis. Even if it won't I still have my gold without loss.

                            Originally posted by VikingMan
                            But Krugerrand s from golddealer.com. Paying extra for Gold Eagles is gay.
                            What's the difference in price ?

                            Over here there's about $11 bucks difference, no big deal.

                            Nothing wrong getting 3 kruger and 3 gold eagles to diversify even if both are gold.

                            What you guys think of the fortuna PAMP bars ? I'm considering getting a few of those as well.
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                            • mineistaken
                              See signature :)
                              • Apr 2007
                              • 29656

                              #15
                              Originally posted by DraX
                              What's the difference in price ?

                              Over here there's about $11 bucks difference, no big deal.

                              Nothing wrong getting 3 kruger and 3 gold eagles to diversify even if both are gold.

                              What you guys think of the fortuna PAMP bars ? I'm considering getting a few of those as well.
                              Why is that so complicated, I thought value of gold is in weight, not in nice design.
                              Paying extra for design
                              Diversify in weights only.

                              Comment

                              • aka123
                                Confirmed User
                                • Jul 2014
                                • 4450

                                #16
                                Originally posted by DraX
                                What's the difference in price ?

                                Over here there's about $11 bucks difference, no big deal.

                                Nothing wrong getting 3 kruger and 3 gold eagles to diversify even if both are gold.

                                What you guys think of the fortuna PAMP bars ? I'm considering getting a few of those as well.
                                Why you don't buy just plain bars with "mandatory" stamps? Are you investing into gold or not? You know, it is nice to have something shiny, but don't confuse it with investing.

                                Like this:

                                10 oz Gold Bar - Credit Suisse (w/Assay) | Credit Suisse (Gold Bars & Rounds) | APMEX

                                Or this (0,6 % more expensive per oz):

                                1 oz Gold Bar - Credit Suisse (In Assay) | Credit Suisse (Gold Bars & Rounds) | APMEX

                                Comment

                                • Vendot
                                  Confirmed User
                                  • May 2002
                                  • 3376

                                  #17
                                  Originally posted by DraX
                                  Just trying to protect myself. I suspect it could soon get worse than the 2008 real estate crisis. Even if it won't I still have my gold without loss.
                                  I think you're talking about eliminating counter-party risk:



                                  Kyle Bass loves Gold:



                                  Bloomberg sees possibility of wild card event leading to $64,000/oz Gold (over 50 times current price):

                                  Chinese Gold Standard Would Need a Rate 50 Times Bullion̢۪s Price - Bloomberg Business
                                  "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                                  Comment

                                  • SIK
                                    Confirmed User
                                    • Dec 2006
                                    • 1497

                                    #18
                                    isn't gold dropping?
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                                    • AllAboutCams
                                      Femcams.com
                                      • Jul 2011
                                      • 12234

                                      #19
                                      I hate buying silver on ebay never know if they are real or not
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                                      • Shadexpwn
                                        Registered User
                                        • Apr 2014
                                        • 65

                                        #20
                                        Make sure you don't have a room full as it can take weeks to unload and be very risky to transfer.

                                        Comment

                                        • clickity click
                                          So Fecking Bummed
                                          • Aug 2014
                                          • 3682

                                          #21
                                          A lot of gold on eBay is fake
                                          Buyers beware.

                                          Comment

                                          • wehateporn
                                            Promoting Debate on GFY
                                            • Apr 2007
                                            • 27176

                                            #22
                                            Apparently you have to buy lego; lego is gold

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                                            • mineistaken
                                              See signature :)
                                              • Apr 2007
                                              • 29656

                                              #23
                                              Originally posted by clickity click
                                              A lot of gold on eBay is fake
                                              Buyers beware.
                                              I wonder if any serious gold investor buys from ebay.
                                              Not the item you would buy there.. Unless it is some small "for play".

                                              Comment

                                              • lezinterracial
                                                Confirmed User
                                                • Jul 2012
                                                • 3123

                                                #24
                                                Originally posted by mineistaken
                                                I wonder if any serious gold investor buys from ebay.
                                                Not the item you would buy there.. Unless it is some small "for play".
                                                Good point. I buy silver off e-bay, but it is usually only one or two onces of silver at a time. I am only playing, Slowly building a collection. When I talk about buying silver and paying extra for a cool design, I am only talking about a few extra dollars on a deal.

                                                Although, I notice that the big dealers are on e-bay.
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                                                If I were to get into gold. I probably would buy gold on e-bay from JM Bullion's ebay store, Once I did more research and verified that was their store. And if the e-bay store price was cheaper that their website.
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                                                • Vendot
                                                  Confirmed User
                                                  • May 2002
                                                  • 3376

                                                  #25
                                                  Originally posted by lezinterracial
                                                  Good point. I buy silver off e-bay, but it is usually only one or two onces of silver at a time.
                                                  Why go through ebay and pay a higher price? Thousands of better sources direct with better product:

                                                  Buy Gold and Silver, Sell Gold and Silver - GoldSilver.com
                                                  Gold Coins Minneapolis | Gold Bars St. Paul | Silver Coins and Bars | Platinum and Palladium Bars | Miles Franklin
                                                  Scottsdale Mint - Home
                                                  "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

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                                                  • DBS.US
                                                    Geo Cities
                                                    • Aug 2003
                                                    • 11842

                                                    #26


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                                                    • Vendot
                                                      Confirmed User
                                                      • May 2002
                                                      • 3376

                                                      #27
                                                      Chinese Stockmarket just fell 9% ...... largest drop since 2007.

                                                      China?s Stocks Sink Most Since 2007 as State Intervention Fails - Bloomberg Business
                                                      "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

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                                                      • jimmycastor
                                                        So Fucking Banned
                                                        • Jul 2006
                                                        • 342

                                                        #28
                                                        i believe diamonds are more convenient in crisis, better to move, better to trade
                                                        big hustlers have diamonds hidden somewhere,hard to find

                                                        Comment

                                                        • arock10
                                                          Confirmed User
                                                          • Jan 2006
                                                          • 6217

                                                          #29
                                                          Diamonds just have value due to cartels and marketing
                                                          Sup

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                                                          • aka123
                                                            Confirmed User
                                                            • Jul 2014
                                                            • 4450

                                                            #30
                                                            Originally posted by jimmycastor
                                                            i believe diamonds are more convenient in crisis, better to move, better to trade
                                                            big hustlers have diamonds hidden somewhere,hard to find
                                                            To trade with who? Do you know much diamond experts? Or if we go to another road; pieces of glass will do the same.

                                                            Comment

                                                            • Vendot
                                                              Confirmed User
                                                              • May 2002
                                                              • 3376

                                                              #31
                                                              Originally posted by jimmycastor
                                                              i believe diamonds are more convenient in crisis, better to move, better to trade
                                                              big hustlers have diamonds hidden somewhere,hard to find
                                                              Sure but they're not necessarily as useful as gold for trading, which is why gold has been money for thousands of years. Demand for diamonds right now is a bit weak too...

                                                              De Beers Said to Cut Diamond Prices as Much as 9% - Bloomberg Business
                                                              "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

                                                              Comment

                                                              • lezinterracial
                                                                Confirmed User
                                                                • Jul 2012
                                                                • 3123

                                                                #32
                                                                Originally posted by Vendot
                                                                Sure but they're not necessarily as useful as gold for trading, which is why gold has been money for thousands of years. Demand for diamonds right now is a bit weak too...

                                                                De Beers Said to Cut Diamond Prices as Much as 9% - Bloomberg Business
                                                                Yea, More difficult to price a diamond. Price is a little more subjective base on cut, clarity, color, and carat. Gold is just weight and purity. I don't think they have a spot price for diamonds.
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                                                                • $5 submissions
                                                                  I help you SUCCEED
                                                                  • Nov 2003
                                                                  • 32189

                                                                  #33
                                                                  Isn't it better and easier to trade ETFs instead of physical gold?

                                                                  By the way, people flocked to treasury bonds when the market CRAPPED OUT recently.

                                                                  Expect more of that as China BURSTS the Global Asset Bubble

                                                                  I wouldn't be surprised if the Dow hits 6500 or lower within 2 years.

                                                                  Comment

                                                                  • srockhard
                                                                    Retired
                                                                    • Jul 2011
                                                                    • 1978

                                                                    #34
                                                                    Silver over gold. Please consider Bitcoin as an investment too. And a solar powered atv!

                                                                    Comment

                                                                    • Vendot
                                                                      Confirmed User
                                                                      • May 2002
                                                                      • 3376

                                                                      #35
                                                                      Originally posted by srockhard
                                                                      Silver over gold. Please consider Bitcoin as an investment too. And a solar powered atv!
                                                                      Silver has some major advantages over Gold in boom times:

                                                                      (1) Silver is MUCH rarer than Gold (above ground) - and yet few people know this.

                                                                      (2) Silver is consumed at a vastly growing rate & therefore not much floating supply.

                                                                      (3) Is the most conductive element in the world & therefore has huge industrial uses including solar as you mentioned.

                                                                      (4) Mine supply is approaching a peak and will soon decline.

                                                                      The downside is that in a global economic slowdown.... less industrial demand means more supply and therefore lower prices. In a QE or inflationary environment, Silver will still do well but perhaps not as well as it could if there was also industrial demand at peak levels.
                                                                      "In a Time of Universal Deceit, Telling the Truth is a Revolutionary Act." - George Orwell

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                                                                      • ilnjscb
                                                                        Confirmed User
                                                                        • Jun 2009
                                                                        • 8958

                                                                        #36
                                                                        I bought over 1000 oz of silver on ebay when it was below 10 and sold it for melt at 17 - 20. No one with good feedback has the time to fake a johnson and matthey ingot of silver, that is just stupid. All that was a pain in the ass to hold as well, I had one 100oz bar for a door stop.

                                                                        Comment

                                                                        • James - Mr. Skin
                                                                          Confirmed User
                                                                          • Jun 2012
                                                                          • 737

                                                                          #37
                                                                          In my opinion. Don't mess with the gold bars, to many fakes out there and you will be upset when you pay $1100 + for a clad bar. Stick with Bullion, from Canada or UK. The gold is 24k and the US american eagles are only 22k.

                                                                          Canadian Coins are very nice to look at as well as the UK Britannia!
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                                                                          • VikingMan
                                                                            Exploiting human weakness
                                                                            • Jan 2008
                                                                            • 6870

                                                                            #38
                                                                            Again....buy Krugerrands. Many shops that deal with gold will only pay you melt value if their are nicks and scratches on Eagles and Maple Leaves. Krugerrands have a little bit other metals mixed in to make them stronger. Actually I think Eagles have some other metals mixed in as well but I know that Maple Leaves are very soft and get nicks very easily. But I would not know because it is retarded to pay a premium for an once of gold just because it is from Murica. Dumb as fuck actually.

                                                                            Also Silver is bulky compared to Gold. You can care huge amounts of $$$$ in gold in your pockets and if you wanted to carry that much silver you would have to load up a truck.

                                                                            Comment

                                                                            • Mutt
                                                                              Too lazy to set a custom title
                                                                              • Sep 2002
                                                                              • 34431

                                                                              #39
                                                                              I really think if i bought physical gold i'd bury it the backyard. The thing is if I have $100K of gold bars how do i turn it into paper when I choose to with the least risk? Crazy to sell/trade online I'd think. To buy it online surely you can't use a credit card or online check?
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                                                                              • VikingMan
                                                                                Exploiting human weakness
                                                                                • Jan 2008
                                                                                • 6870

                                                                                #40
                                                                                Originally posted by Mutt
                                                                                I really think if i bought physical gold i'd bury it the backyard. The thing is if I have $100K of gold bars how do i turn it into paper when I choose to with the least risk? Crazy to sell/trade online I'd think. To buy it online surely you can't use a credit card or online check?
                                                                                It would be dumb as fuck to use a CC because then you just have to pay more money. You simply call up Ken at 800 2225 7531 and lock in your amount, type of metal, and price. Then you wire the money to their bank. About a week later your letter carrier will knock on your door and you sign for it. They hand over a box and the nosy letter carrier makes a comment of how heavy it is. Sending it USPS is economical and it is insured. That business runs like a machine and they are very pleasant to deal with. I am sure they ship to Canada as well.

                                                                                Comment

                                                                                • RummyBoy
                                                                                  Confirmed User
                                                                                  • Dec 2009
                                                                                  • 2157

                                                                                  #41
                                                                                  Originally posted by Mutt
                                                                                  I really think if i bought physical gold i'd bury it the backyard. The thing is if I have $100K of gold bars how do i turn it into paper when I choose to with the least risk?
                                                                                  Burying it in the backyard is stupid. The GLD is supposed to be physical metal but because its connected to the markets, I would trust it less than a custodian account like Gold Money:

                                                                                  Buy Gold & Silver Bullion Online With GoldMoney | Est. 2001

                                                                                  You can buy or sell at spot price in any of the four majors. They buy/store the metal for you on your behalf and you can choose where its kept but you also can take delivery at any time. Fees are pretty reasonable but when I took delivery I didn't think it was extremely cheap.

                                                                                  They're in the process of introducing a debit card so you can spend from your gold account.

                                                                                  Comment

                                                                                  • arock10
                                                                                    Confirmed User
                                                                                    • Jan 2006
                                                                                    • 6217

                                                                                    #42
                                                                                    Originally posted by Mutt
                                                                                    I really think if i bought physical gold i'd bury it the backyard. The thing is if I have $100K of gold bars how do i turn it into paper when I choose to with the least risk? Crazy to sell/trade online I'd think. To buy it online surely you can't use a credit card or online check?
                                                                                    What's your address?
                                                                                    Sup

                                                                                    Comment

                                                                                    • mineistaken
                                                                                      See signature :)
                                                                                      • Apr 2007
                                                                                      • 29656

                                                                                      #43
                                                                                      Originally posted by RummyBoy
                                                                                      Burying it in the backyard is stupid. The GLD is supposed to be physical metal but because its connected to the markets, I would trust it less than a custodian account like Gold Money:

                                                                                      Buy Gold & Silver Bullion Online With GoldMoney | Est. 2001

                                                                                      You can buy or sell at spot price in any of the four majors. They buy/store the metal for you on your behalf and you can choose where its kept but you also can take delivery at any time. Fees are pretty reasonable but when I took delivery I didn't think it was extremely cheap.

                                                                                      They're in the process of introducing a debit card so you can spend from your gold account.
                                                                                      That pretty much beats the purpose. You just have a "note" that says you have gold somewhere.
                                                                                      Having physical gold is real thing, having a note in some major economical or doomsday collapse is another...

                                                                                      Comment

                                                                                      • RummyBoy
                                                                                        Confirmed User
                                                                                        • Dec 2009
                                                                                        • 2157

                                                                                        #44
                                                                                        Originally posted by mineistaken
                                                                                        That pretty much beats the purpose. You just have a "note" that says you have gold somewhere.
                                                                                        As i said, you have the metal in your hand if you want it.

                                                                                        Having physical gold is real thing, having a note in some major economical or doomsday collapse is another...
                                                                                        I am not saying custodian like GoldMoney is the end all (its better to have it in your possession) but its convenient and I prefer it to GLD or certificates or some of the other options especially if I want physical abroad but am forced to keep it with me in the US where it can be stolen or worst, where it was confiscated during the last doomsday by the US government:

                                                                                        Roosevelt's gold confiscation: could it happen again? - Telegraph

                                                                                        Comment

                                                                                        • RummyBoy
                                                                                          Confirmed User
                                                                                          • Dec 2009
                                                                                          • 2157

                                                                                          #45
                                                                                          Originally posted by arock10
                                                                                          What's your address?
                                                                                          Does he have any domains? We can check whois.... id like to find some gold in someone's backyard

                                                                                          Anyone know a place online I can buy a metal detector and shovel (stainless steel, with dual handle and attached torch)?

                                                                                          Comment

                                                                                          • jimmycastor
                                                                                            So Fucking Banned
                                                                                            • Jul 2006
                                                                                            • 342

                                                                                            #46
                                                                                            Originally posted by aka123
                                                                                            To trade with who? Do you know much diamond experts? Or if we go to another road; pieces of glass will do the same.

                                                                                            theres a jewelery in every smaller city and diamonds are used to be traded with certificates that are hard to fake , at least in europe where people are experienced to suffer complete devaluation of money , not talking about the usa, things are maybe different there...
                                                                                            anyway you cannot pay with gold bars at a grocery store or gas station neither here or in the usa

                                                                                            . try to board an airplane with 2 kilos of gold without getting noticed by tax or security authorities, you maybe get the advantages of diamonds

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