Trying to sell 1 oz. Coin for $25
What do you think a one ounce gold coin is worth? What do you think the average American would think it was worth. In this video he is trying to sell a 1 ounce gold Canadian Maple Leaf coin for $25. Would you believe there were no takers? In this video Mark is trying to sell a $50 face value gold Canadian Maple Leaf for $25. He is trying to sell it to random members of the public right in front of a coin shop. To eliminate the persons fear that the coin might be counterfeit and offered to go in with the prospective purchaser so they could confirm it is genuine.
INCREDIBLY THERE WERE NO TAKERS! This just points out how incredibly unknowledgeable most of the public are about the value of precious metals. When Mark asked the people why they were turning him down on a deal that would allow them to buy a $50 face value 1 ounce gold coin for $25 and walk into the coin shop and sell it for a profit they had no good reason for turning him down. They were just not interested. Not one of the people he approached had a clue as to the real value or certainly they would have jumped at the offer!
I’m sure if you asked them about the price of the latest electronic gadget from Apple, the latest cell phone plan, a piece of meat at the grocery store, the cost of a dvd, the cost of a video rental, etc. the average person would know the price to almost the penny. If they were on a game show program like Deal Or No Deal they would have a conception of value of almost anything to guide them. If you asked the average person about the value of the dollar bill, ten dollar bill, or twenty dollar bill in their wallet I’m sure they would have some concept and appreciation for the value that these pieces of fiat currency have. If you told them that the dollar bill in their hand was only worth 4 percent of what it was worth in 1910 they wouldn’t have believed you. The belief and confidence they have in the dollar would have blinded them. But when it comes to a conception of the value of a one ounce gold coin most people have no clue.
It really is a question of confidence. As long as people have confidence in the fiat currency they hold in their hand the dollar will rise and the precious metals will languish because governments and central banks are able to rig the system almost at will to achieve their ends.
But as citizens have found throughout time the confidence in a fiat currency can evaporate quickly and the value of the dollar the people held in their hand yesterday is now worth-less today. If you told the average person on the street that there have been many Currency Collapses throughout time they wouldn’t have believed you.
What do you feel is needed to change the perception of people about the value of the precious metals. What suggestions do you have?
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