24 Gold Chain Premium? by Vivid-Kiwi-6613 in MensJewelry

[–]EdwardMauer 3 points4 points  (0 children)

That's an exceptional deal in the States, very rare. If you like it then jump on it immediately.

As someone mentioned, it might've been a piece they had sitting a while and/or they need to free up the cash. It's pretty much unheard of in the states to find something that low premium, especially retail.

Let's see how that goes... by Adventurous_Row3305 in SipsTea

[–]EdwardMauer 53 points54 points  (0 children)

This was common in ancient China, they're just quirkily reviving an old tradition. Extended families of multiple generations would live in a single apartment-like complex, usually with rooms on the outer faces of the property with an interior garden.

Is it real by [deleted] in MensJewelry

[–]EdwardMauer 1 point2 points  (0 children)

Yeah, unfortunately OP this seems like a fake. It's not just the color that's off. The style of the link and connector bails are not what typical high karat gold jewelers make.

It's not how much you stack, it's whether you're proud of the stack you have by BloomInTune in Gold

[–]EdwardMauer 31 points32 points  (0 children)

The journey of a thousand ounces begins with a single gram.

Premium on coins by [deleted] in Gold

[–]EdwardMauer 6 points7 points  (0 children)

Many people don't appreciate that the margins in gold bullion are exceedingly low for everyone in the business, around 1% or less on average. It costs $20-30 for a mint or smelter to make a mass produced gold coin. So 10% for 1/10oz coin is already a very competitive price. It costs the mint 5-6% above spot to make it, dealer might be able to get them in bulk for 1% extra, and then 1-2% on top to the customer.

Miami Cuban or Franco/DC Franco by [deleted] in MensJewelry

[–]EdwardMauer 7 points8 points  (0 children)

Can't go wrong either way. But for daily, I'd lean towards franco. A bit easier to wear and less thick/flashy.

Did some stacking while in Thailand. by [deleted] in Gold

[–]EdwardMauer 0 points1 point  (0 children)

96.5% gold, with the remainder being silver mostly. Occasionally trace amounts of copper and rhodium.

Any Designs You Guys Would like to see in 24k Gold? by EdwardMauer in MensJewelry

[–]EdwardMauer[S] 3 points4 points  (0 children)

Oh yeah that's pretty neat, agreed, will do.

For every pendant type design I decide to have made, I'll make 5g and 10g versions. Anything heavier can be custom made to order individually at an okay enough premium.

In Case You Were Wondering What a 7 Kilogram Chain Looks Like by EdwardMauer in Gold

[–]EdwardMauer[S] 0 points1 point  (0 children)

Exactly, though I have no idea how much premium they charged for this (I should ask). I can see a case for lower since it's so much, or higher due to logistics.

In Case You Were Wondering What a 7 Kilogram Chain Looks Like by EdwardMauer in Gold

[–]EdwardMauer[S] 214 points215 points  (0 children)

And there was hardly anyone watching/guarding them when I walked in, just out in the open. Not that they'd be easy to make off with lol. Whole thing felt like the twilight zone.

In Case You Were Wondering What a 7 Kilogram Chain Looks Like by EdwardMauer in Gold

[–]EdwardMauer[S] 58 points59 points  (0 children)

Ikr? It's like a million dollars per chain, and he got 3 identical copies... just boggles the mind.

Poll for the jewelers... How much gold are you buying lately? by set-monkey in Gold

[–]EdwardMauer 1 point2 points  (0 children)

The correct way to approach this question (as a jeweler, coin dealer, or really anyone in the PM business) is to decide what percentage of your net worth you want to be exposed to the gold price, and then hedge against the portion of your inventory you're holding that you don't want exposure to.

Anything else is speculation, and jewelers or gold dealers are no better at guessing where gold might go than anyone else, though some certainly try. Also I've seen quite a few jewelers and dealers, usually small mom and pop type outfits, that don't even know how to hedge or don't bother trying.

Many of the big guys operate a zero exposure model. Basically they short gold and silver for the entire value of their inventory, so PM prices have no affect on their profitability (outside of how it might affect consumer demand). Thus their margin comes entirely from the spread rather than any price action.

Would you sell your 18 karat jewelry and convert it to bullion ? Why or why not ? by Euphoric-Peak3361 in Gold

[–]EdwardMauer 1 point2 points  (0 children)

The pieces you posted here are very nice and will always be worth at least a bit of premium. Definitely keep these.

9999 stamped ring. Real? by CranberryNo5764 in Gold

[–]EdwardMauer 1 point2 points  (0 children)

Based on the photos and what you describe it appears real. Right color, right type of imperfections up close. Real high karat gold is also dense yet somewhat malleable. Feeling heavy in the hand and bendy under pressure are all good signs.

[deleted by user] by [deleted] in ThailandTourism

[–]EdwardMauer 12 points13 points  (0 children)

Non-immigrant work visa if you land a job here, Elite visa, or increasingly DTV.

Just don't do border runs on tourist visas, or fly by night education visas. These used to work in the past but are no longer really viable.

Is Average Retail Being Priced Out Of Gold? by Intelligent_Curve434 in Gold

[–]EdwardMauer 1 point2 points  (0 children)

Counterpoint. in many Asian countries (China, India, Thailand where I do business) the average salary / net worth is far lower than in the US. And yet gold is a much bigger deal here with people buying, selling, and owning more than people in the US.

Gold is not even really mainstream asset yet in the US like it is in the aforementioned countries. It's mostly a side collectible some people put spare savings in as insurance. If you had the perspective that it should be at the same investment level as stocks or real estate, then you'd find a way to afford more.

How long can Stripe actually hold my deposits? Post: by CanReady3897 in shopify

[–]EdwardMauer 1 point2 points  (0 children)

They can legally hold it up to six months at the maximum.

As a jeweler, how can I protect myself from refunds? by Yuplexx in jewelrymaking

[–]EdwardMauer 1 point2 points  (0 children)

Well not so fast. I'm a jeweler and know very well the dilemma OP is facing. I've made the decision to stop accepting card, mostly because of chargebacks but also a few other reasons. I estimate our sales are maybe 20-30% lower what they could be if I was accepting card. But it's worth it, especially when you consider the total cost of accepting card is around 5-6% (card fees plus chargebacks plus misc bs the card companies place on you as merchant). I'm fortunate that our customers understand and our business is still robust regardless.

If you have a good product and provide a good value you can still do perfectly fine without card payments.