Has anyone ever thought of this before to make money from buying gold like this way?
Has anyone here every thought of it this way.
You would spend $1,000 on 2 pure gold coins each being one ounce.Then when you have it mailed it to you the gold coins you mail it to a place where they would cash the gold for you and you would end up $1,382.
Next with that money $1,382 you would multiply by 2 and you would get $2,764 and make an offer to buy 3 gold coins, in which with 3 gold coins you would get $2,073.Again multiply by 2 and you would get $4,146 and make an offer to buy 4 gold coins, then get cashed $2,764.
Next multiply by 2 and you would get $5,528 so you would make an offer to buy 5 gold coins and get $3,455 after having it cashed.
Again with the same step multiply $3,455 by 2 and you would get $6,910 so you would buy 7 gold coins and get $4,837.
$4,837 being multiplied by 2 you would get $9,674 and make an offer to buy 10 gold coins in which when after mailing those 10 gold coins you would get $6,910 times that by 2 and it would be $13,820.So there for you spend those $6,910 on 14 gold coins and get cashed $9,647.
Continue doing this process until you’ve reached at least $200,000 worth of gold.
Can anyone see what I’m tyring to eplain and get the picture?
If so would anyone of you do this?
& is it legal or would be perfectly fine with the person who sells gold coins?
March 27th, 2009 at 12:52 am
let me know if it works.
March 29th, 2009 at 5:53 am
What you’re proposing is buy low sell high. It’s a great idea, the only problem is that you would be hard pressed to find a seller willing to sell you gold for $500/oz.
If you know of a place to buy two ounces of gold for $1000 (or for $1,382 for that matter) please let me know.
As of 3:09 p.m. on the NY market, spot gold prices were around $714/oz.
I hope that helps.