[kenneth]

I used to buy gold bullion as a sneaky way to get credit card points on the cheap (and then use them for first class flights around the world). You could usually do the trade profitably and quickly and quite safely with insured shipping via USPS. $50k at a time. It was a bit sketchy to have that much in bullion at home, and I quickly got bored of it.

The things you do when you're young…

[uptown]

Who would you sell the bullion to to cash out?

[icepat]

Somehow when I was about 13 I ended up buying about 2k worth of silver in various places when spot was about $15 USD. One place was even an antique coin shop in my hometown. When spot went up to $20 a bit later, the same vendor bought it all off me at market price. Precious metals are a strangely easy thing to liquidate.

One of the strangest financial anecdotes of my life. To this day I wonder what the vendor thought seeing a literal child buying bars of silver bullion, then selling them at a 25% markup later.

[maerF0x0]

They must charge a spread or fees?

[kenneth]

There are various precious metal trading companies that will buy the bullion from you at close to spot if it's kept in its original assay and has documentation. If not in assay, they will have to test its purity and potentially remelt it so that adds to the spread.

[infecto]

Did the same with those $1 US coins when the mint was allowing you to purchase them for $1 free shipping. We would get as much as possible and then turn around and deposit into the bank.

[manonthewall]

why would you pay $1 each for $1 coins and turn around and put that in the bank? I mean what's the purpose? I could see if you were keeping them as collectors items that might be worth more in the future, but once dropped in the bank you're back to where you started??

[slv77]

It’s called manufactured spending and the idea is to be able to buy something and liquidate at the same price with no risk. The intent is to rack up points on credit cards for free travel or to manipulate credit scores.

[TheHumanist]

Did you just jump into a sub comment and it read prior comment? Lol credit card points. Then deposit and pay off what you spent.