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Thread: Jewelry Store Offering to Buy Gold and Silver on the Radio

  1. #1

    Default Jewelry Store Offering to Buy Gold and Silver on the Radio

    I head an ad on the radio this morning from Robbins Diamonds. This is a well-established jewelry store in the heart of downtown Philadelphia. In this ad, they encourage the listener to go sort through their jewelry box and get out all their unwanted gold and silver, and sell it to the store. They claim that the prices of gold and silver are "skyrocketing", so now's a great time to get rid of them. They even suggest that we sell them our unwanted silver flatware.

    This is odd to me. Aren't jewelry stores supposed to want to SELL you jewelry, rather than buy it from you? I mean sure, I guess they buy it all the time, but not from normal people. I would expect them to get most of their stock from wholesalers. It's especially odd that they would be asking for used flatware, considering that it's not even jewelry. These radio ads aren't free, so they must have a good reason before they start buying ad time. There must be an explanation.

    There is one. They must think that gold and silver are undervalued right now. Why else would they want to buy it? They must be expecting the price to go up in the near future. Now why on Earth would they think that?



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  3. #2

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    Quote Originally Posted by Feenix566 View Post
    I head an ad on the radio this morning from Robbins Diamonds. This is a well-established jewelry store in the heart of downtown Philadelphia. In this ad, they encourage the listener to go sort through their jewelry box and get out all their unwanted gold and silver, and sell it to the store. They claim that the prices of gold and silver are "skyrocketing", so now's a great time to get rid of them. They even suggest that we sell them our unwanted silver flatware.

    This is odd to me. Aren't jewelry stores supposed to want to SELL you jewelry, rather than buy it from you? I mean sure, I guess they buy it all the time, but not from normal people. I would expect them to get most of their stock from wholesalers. It's especially odd that they would be asking for used flatware, considering that it's not even jewelry. These radio ads aren't free, so they must have a good reason before they start buying ad time. There must be an explanation.

    There is one. They must think that gold and silver are undervalued right now. Why else would they want to buy it? They must be expecting the price to go up in the near future. Now why on Earth would they think that?
    You do realize that jewelers have to make jewelry to sell it? They need to buy gold and silver to make their jewelry.
    you can buy now using an elevated dollar to get in on things that are poised to go way up when the dollar collapses. If he's right, and I think he is, his profits are going to be ridiculous. I've already showed by referencing some mining stocks that you can make a killing in this market playing Schiff's investment strategy.

    -theoakman, RPF 1/26/09.

    Oh what a difference 10 months makes. Deflationists, where are thou?

  4. #3

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    But like I said, wouldn't it normally be cheaper for them to get their gold and silver from wholesalers?

  5. #4

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    Quote Originally Posted by Feenix566 View Post
    But like I said, wouldn't it normally be cheaper for them to get their gold and silver from wholesalers?
    no, your average person that goes and pawns their jewelry and silverware have no clue what their crap is worth. They'll give you 40 cents on the dollar.
    you can buy now using an elevated dollar to get in on things that are poised to go way up when the dollar collapses. If he's right, and I think he is, his profits are going to be ridiculous. I've already showed by referencing some mining stocks that you can make a killing in this market playing Schiff's investment strategy.

    -theoakman, RPF 1/26/09.

    Oh what a difference 10 months makes. Deflationists, where are thou?

  6. #5

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    Quote Originally Posted by theoakman View Post
    no, your average person that goes and pawns their jewelry and silverware have no clue what their crap is worth. They'll give you 40 cents on the dollar.
    +1

  7. #6

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    I saw three of these commercials in a ROW on cable last night. First it was "Good ole' Tom", then Gem Jewerly and finally Cash4Gold.

  8. #7

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    I see & hear dozens of ads to buy gold & silver in my local newspapers & ota tv channels - when I see all that, it reminds me that it's time to buy!!!

  9. #8

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    Yeah, good to hear, the bum down my street is "offering" to buy or receive some food and soda cans from me.

  10. #9

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    Usually wholesalers do not sell used gold or silver metals and this is why it's not so cheap. This is why they are asking for used ones from normal people. It's a great business for them. They can buy the jewelry for half the normal price and sell them +50% to the end customer.

  11. #10

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    Quote Originally Posted by gls View Post
    I saw three of these commercials in a ROW on cable last night. First it was "Good ole' Tom", then Gem Jewerly and finally Cash4Gold.
    If you try and sell silver or gold at one of these pawn stores they will start talking about melting cost and this and that, next thing you know they are offering you $10 UNDER spot..






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