**..:The Official Jewelry Thread Vol. 11: You get a Jesus piece! You get a Jesus piece! Everybody gets a Jesus piece:..**

[jchambers]

I don't even have to test it out. I have done it before. I had gold already and wanted a cuban made. It cost me $3500 just for the work. So unless you got the gold for $3500 less than it is worth today, you aren't even breaking even.

Nah I mean literally just pose the the question and ask for an honest answer ..


It'll prove someone wrong and LULZ will be had.


I think buying a sold brick of bullion just for a chain and 5 G's is ******g ******ed and way too much work for a chain .. LOL


I'd just buy the chain ...

takes money to save money.

see a ***** like you would rather pay more for da convenience of not going off da beaten path, a dude like me? i've done it before and it

works.

jchambers. CUSTOM work you answered your own question. CUSTOM work carries a cost in itself, NOT something thats already in stock.

Are you serious, man? Any chain is custom. All of Daniels chains are custom hand made by them. It doesn't matter if they have it in stock or not, they custom made it and had to incur those costs.

 

[Betonblck]

Somebody ask the question

https://www.facebook.com/danieljewelryinc?fref=ts

Waiting for the

 

[jchambers]

No one is arguing that you can't trade in a gold bar for a chain ( I'm certainly not arguing that fact). But, the chain you get in return is going to contain much less gold in it than your original bar. You'll be losing alot of money.

You invest in GOLD for a reason. You don't invest in Jewelry (unless it's bought at the low).

if you read my whole point i already pointed that out and said they would have to give you back in $ what is left

from da gold.

so da transaction would look like "a gold bullion bar for a gold chain of equal weight PLUS money back from da displaced

gold" and da dealer takes a cut from that money as part of his margin.

They would give you back in money what is left from the gold, minus the cost it would take to mix/melt and make the chain and their profit. I have a feeling that your method would actually end up costing more than just going in there with cash and dealing.

 

[Betonblck]

No one is arguing that you can't trade in a gold bar for a chain ( I'm certainly not arguing that fact). But, the chain you get in return is going to contain much less gold in it than your original bar. You'll be losing alot of money.

You invest in GOLD for a reason. You don't invest in Jewelry (unless it's bought at the low).

if you read my whole point i already pointed that out and said they would have to give you back in $ what is left

from da gold.

so da transaction would look like "a gold bullion bar for a gold chain of equal weight PLUS money back from da displaced

gold" and da dealer takes a cut from that money as part of his margin.

They would give you back in money what is left from the gold, minus the cost it would take to mix/melt and make the chain and their profit. I have a feeling that your method would actually end up costing more than just going in there with cash and dealing.

Of course it would cost more. A jeweler sells jewelry for cash, not gold. A jeweler can't pay his rent with gold. Cash pays for the jewelers lease on the storefront, the heat, the electricity.

 

[jchambers]

My boy on here owns a well known shoe company, what you are proposing is like him getting a bunch of leather and rubber and sending it to China and saying, "Here, now make me the shoes for free."



It doesn't work like that. There are labor costs, profit, etc. that you aren't factoring in.

No one is arguing that you can't trade in a gold bar for a chain ( I'm certainly not arguing that fact). But, the chain you get in return is going to contain much less gold in it than your original bar. You'll be losing alot of money.

You invest in GOLD for a reason. You don't invest in Jewelry (unless it's bought at the low).

if you read my whole point i already pointed that out and said they would have to give you back in $ what is left

from da gold.

so da transaction would look like "a gold bullion bar for a gold chain of equal weight PLUS money back from da displaced

gold" and da dealer takes a cut from that money as part of his margin.

They would give you back in money what is left from the gold, minus the cost it would take to mix/melt and make the chain and their profit. I have a feeling that your method would actually end up costing more than just going in there with cash and dealing.

Of course it would cost more. A jeweler sells jewelry for cash, not gold. A jeweler can't pay his rent with gold. Cash pays for the jewelers lease on the storefront, the heat, the electricity.

Exactly. Like I said before, I have never paid for my rent, insurance, gas, or groceries with gold chains or bullion.

 

[ninjahood]

I don't even have to test it out. I have done it before. I had gold already and wanted a cuban made. It cost me $3500 just for the work. So unless you got the gold for $3500 less than it is worth today, you aren't even breaking even.

Nah I mean literally just pose the the question and ask for an honest answer ..


It'll prove someone wrong and LULZ will be had.


I think buying a sold brick of bullion just for a chain and 5 G's is ******g ******ed and way too much work for a chain .. LOL


I'd just buy the chain ...

takes money to save money.

see a ***** like you would rather pay more for da convenience of not going off da beaten path, a dude like me? i've done it before and it

works.

jchambers. CUSTOM work you answered your own question. CUSTOM work carries a cost in itself, NOT something thats already in stock.

Are you serious, man? Any chain is custom. All of Daniels chains are custom hand made by them. It doesn't matter if they have it in stock or not, they custom made it and had to incur those costs.

yea but those cost are going to incur whether you went in there with gold or money...da point is he's NOT losing money doing it like this.

da gold he's getting in return from da bar isn't worth LESS then da gold he traded away in da chain, your getting money back from

da extra gold left over from da swap of value, and he's taking his cut from "transforming" da gold ya trading from a brick to a chain.

even if he "charged you" 3500 like you said he did "for labor", you're STILL saving OVER 2 GRAND versus doing a cash transaction.

and thats if we're pretending your gold was 24k pure and you wanted a 500 gram cuban.

no one is realistically gonna charge you anything over a few hundred dollars for labor...this is where you're WINNING.

 

[ninjahood]

No one is arguing that you can't trade in a gold bar for a chain ( I'm certainly not arguing that fact). But, the chain you get in return is going to contain much less gold in it than your original bar. You'll be losing alot of money.

You invest in GOLD for a reason. You don't invest in Jewelry (unless it's bought at the low).

if you read my whole point i already pointed that out and said they would have to give you back in $ what is left

from da gold.

so da transaction would look like "a gold bullion bar for a gold chain of equal weight PLUS money back from da displaced

gold" and da dealer takes a cut from that money as part of his margin.

They would give you back in money what is left from the gold, minus the cost it would take to mix/melt and make the chain and their profit. I have a feeling that your method would actually end up costing more than just going in there with cash and dealing.

YES. you are correct.

and its STILL gonna be cheaper then doing a cash transaction.

do da math b. trust me.

 

[ninjahood]

My boy on here owns a well known shoe company, what you are proposing is like him getting a bunch of leather and rubber and sending it to China and saying, "Here, now make me the shoes for free."

@ you comparing da fungible abilities of gold to leather and rubber.

you're wayyyyy smarter then that.

 

[jchambers]

I don't even have to test it out. I have done it before. I had gold already and wanted a cuban made. It cost me $3500 just for the work. So unless you got the gold for $3500 less than it is worth today, you aren't even breaking even.

Nah I mean literally just pose the the question and ask for an honest answer ..



It'll prove someone wrong and LULZ will be had.



I think buying a sold brick of bullion just for a chain and 5 G's is ******g ******ed and way too much work for a chain .. LOL



I'd just buy the chain ...

takes money to save money.


see a ***** like you would rather pay more for da convenience of not going off da beaten path, a dude like me? i've done it before and it


works.


jchambers. CUSTOM work you answered your own question. CUSTOM work carries a cost in itself, NOT something thats already in stock.

Are you serious, man? Any chain is custom. All of Daniels chains are custom hand made by them. It doesn't matter if they have it in stock or not, they custom made it and had to incur those costs.

yea but those cost are going to incur whether you went in there with gold or money...da point is he's NOT losing money doing it like this.

da gold he's getting in return from da bar isn't worth LESS then da gold he traded away in da chain, your getting money back from

da extra gold left over from da swap of value, and he's taking his cut from "transforming" da gold ya trading from a brick to a chain.


even if he "charged you" 3500 like you said he did "for labor", you're STILL saving OVER 2 GRAND versus doing a cash transaction.

and thats if we're pretending your gold was 24k pure and you wanted a 500 gram cuban.

no one is realistically gonna charge you anything over a few hundred dollars for labor...this is where you're WINNING.

no one is realistically gonna charge you anything over a few hundred dollars for labor

this is where you're WRONG.


You are assuming that you can get some sort of good deal on the bullion. Don't forget to factor in the cost to buy the alloys and mix and melt the bullion down to 24k. Also, like I said before, the jeweler most likely paid much less for his bullion than you did, or copped a bunch of chains for dirt cheap to melt into a new one, so your method is most likely going to cost much more than just hitting him with cash.

 

[jchambers]

My boy on here owns a well known shoe company, what you are proposing is like him getting a bunch of leather and rubber and sending it to China and saying, "Here, now make me the shoes for free."

@ you comparing da fungible abilities of gold to leather and rubber.

you're wayyyyy smarter then that.

It is no different though. You still are providing the raw materials and expecting the work to be done for free. Not gonna' happen.

 

[freakydestroyer]

Someone needs to do an experiment walking into a jewelry store and raising that question. Record it on video please.

 

[ninjahood]

I gotta give it to Ninja, he sticks to his guns no matter what

when i do da math, and put my stamp on something, im willing to put my neck on da line cuz i believe in what im talking about.

fellas read da definition of fungible.

Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution, such as crude oil, shares in a company, bonds, precious metals, or currencies.

It refers only to the equivalence of each unit of a commodity with other units of the same commodity. Fungibility does not describe or relate to any exchange of one commodity for some other, different commodity.

As an example: if Alice lends Bob a $10 bill, she does not care if she is repaid with the same $10 bill, two $5 bills, a $5 bill and five $1 bills or bunch of coins that total $10 as currency is fungible. However, if Bob borrows Alice's car she will most likely be upset if Bob returns a different vehicle--even a vehicle that is the same make and model--as automobiles are not fungible with respect to ownership. However, gasoline is fungible and though Alice may have a preference for a particular brand and grade of gasoline, her primary concern may be that the level of fuel be the same (or more) as it was when she lent the vehicle to Bob.

http://en.wikipedia.org/wiki/Fungibility

gold is AS fungible as money when trading for each other.

 

[harmito]

A

takes money to save money.

see a ***** like you would rather pay more for da convenience of not going off da beaten path, a dude like me? i've done it before and it

works.

jchambers. CUSTOM work you answered your own question. CUSTOM work carries a cost in itself, NOT something thats already in stock.

Well yes, yes I would pay for convience rather than going thru that headache to get a chain and 5g's

A ***** like me wouldn't drop but so much on Cuban anyway.. I don't need nothing that heavy or Brolic.

And if I was to buy some bullion I wouldn't take it to a jeweler to flip for a chain and some cash to wash my money either ..

But do you G ..

 

[jchambers]

Someone needs to do an experiment walking into a jewelry store and raising that question. Record it on video please.

I have purchased cubans flat out with cash, and I have traded in gold to have them made. I currently own three cuban links. I was the first poster here to even deal with Daniels for a cuban. I have had a lot of jewelry and currently own a lot, I know jewelers and I know other posters on this board personally who have owned a lot of jewelry. I am not talking about one or two chains or watches, but multiple chains, pieces and watches throughtout the years. I know what I am talking about. No jeweler is going to do a 15k transaction for a few hundred dollars profit. To Ninja, that few hundred dollars is a few pairs of Jordans, but to a jeweler, it is a waste of time.

 

[ninjahood]

My boy on here owns a well known shoe company, what you are proposing is like him getting a bunch of leather and rubber and sending it to China and saying, "Here, now make me the shoes for free."

@ you comparing da fungible abilities of gold to leather and rubber.

you're wayyyyy smarter then that.

It is no different though. You still are providing the raw materials and expecting the work to be done for free. Not gonna' happen.

it IS different BECAUSE gold is a fungible asset. da dealer doesn't LOSE money taking your gold and giving you gold back.

Fungibility does not imply liquidity, and liquidity does not imply fungibility. Diamonds can be readily bought and sold (the trade is liquid) but individual diamonds, being unique, are not interchangeable (diamonds are not fungible). Indian rupee bank notes are mutually interchangeable in London (they are fungible there) but they are not easily traded there (they cannot be spent in London). In contrast to diamonds, gold coins of the same grade and weight are fungible, as well as liquid.

http://en.wikipedia.org/wiki/Fungibility

i do this jewelry **** b...

 

[jchambers]

I gotta give it to Ninja, he sticks to his guns no matter what

when i do da math, and put my stamp on something, im willing to put my neck on da line cuz i believe in what im talking about.

fellas read da definition of fungible.

Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution, such as crude oil, shares in a company, bonds, precious metals, or currencies.
It refers only to the equivalence of each unit of a commodity with other units of the same commodity. Fungibility does not describe or relate to any exchange of one commodity for some other, different commodity.
As an example: if Alice lends Bob a $10 bill, she does not care if she is repaid with the same $10 bill, two $5 bills, a $5 bill and five $1 bills or bunch of coins that total $10 as currency is fungible. However, if Bob borrows Alice's car she will most likely be upset if Bob returns a different vehicle--even a vehicle that is the same make and model--as automobiles are not fungible with respect to ownership. However, gasoline is fungible and though Alice may have a preference for a particular brand and grade of gasoline, her primary concern may be that the level of fuel be the same (or more) as it was when she lent the vehicle to Bob.

http://en.wikipedia.org/wiki/Fungibility

gold is AS fungible as money when trading for each other.

No, it is not. That is flat out wrong. FDR took us off of the gold standard in 1933 and Nixon completely ended the convertibility of gold to cash in 1971. Ask any bank robber if he would rather have cash, or an equal amount in gold.

 

[ninjahood]

short overview of fungible assets.

gold is recognized as a fungible asset worldwide.

 

[Betonblck]

Someone needs to do an experiment walking into a jewelry store and raising that question. Record it on video please.

Yea, I want ninjahood to do it. He gonna get gripped up like Chris Rock.

 

[ninjahood]

I gotta give it to Ninja, he sticks to his guns no matter what

when i do da math, and put my stamp on something, im willing to put my neck on da line cuz i believe in what im talking about.

fellas read da definition of fungible.

Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution, such as crude oil, shares in a company, bonds, precious metals, or currencies.
It refers only to the equivalence of each unit of a commodity with other units of the same commodity. Fungibility does not describe or relate to any exchange of one commodity for some other, different commodity.
As an example: if Alice lends Bob a $10 bill, she does not care if she is repaid with the same $10 bill, two $5 bills, a $5 bill and five $1 bills or bunch of coins that total $10 as currency is fungible. However, if Bob borrows Alice's car she will most likely be upset if Bob returns a different vehicle--even a vehicle that is the same make and model--as automobiles are not fungible with respect to ownership. However, gasoline is fungible and though Alice may have a preference for a particular brand and grade of gasoline, her primary concern may be that the level of fuel be the same (or more) as it was when she lent the vehicle to Bob.

http://en.wikipedia.org/wiki/Fungibility

gold is AS fungible as money when trading for each other.

No, it is not. That is flat out wrong. FDR took us off of the gold standard in 1933 and Nixon completely ended the convertibility of gold to cash in 1971. Ask any bank robber if he would rather have cash, or an equal amount in gold.

NO you're conflating that sentence...smh

Gold = Gold = fungible

not gold for money, thats conversion... NOT what im talking about

 

[jchambers]

short overview of fungible assets.

gold is recognized as a fungible asset worldwide.

Gold is fungible, meaning that it can be traded for equal values of gold. It isn't liquid.



"Fungibility is different from liquidity. A good is liquid if it can be easily exchanged for money or another different good. A good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time and place"


Do you understand the difference? Gold is not equal to money.

 

[python]

Ninjahood,

It doesn't matter whether they made the chain yesterday, last week, or even last year, the jeweler still has invested labor + overhead into converting solid gold into a gold chain. The jeweler needs to make that labor and overhead back if he wants to run a business and not a charity.

I hope this gets through to you

also you have to factor in the mortgage on the shop, property tax insurance ect. ninja you do make it sound good, but i really don't think its that easy. they aint slangin chains out the back of the crib.

 

[ninjahood]

short overview of fungible assets.

gold is recognized as a fungible asset worldwide.

Gold is fungible, meaning that it can be traded for equal values of gold. It isn't liquid.



"Fungibility is different from liquidity. A good is liquid if it can be easily exchanged for money or another different good. A good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time and place"


Do you understand the difference? Gold is not equal to money.

you're conflating da issue....GOLD when traded for GOLD is FUNGIBLE aka it DOESNT LOSE value being traded.

LIQUID is trading a asset to something that is more acceptable everywhere.

 

[freakydestroyer]

]Jewelers don't buy gold at the Spot price. They act as if they do to tack on some $, then they add the labor cost afterwards. So in theory what ninjahood proposed won't work most of the time.

 

[jchambers]

I gotta give it to Ninja, he sticks to his guns no matter what

when i do da math, and put my stamp on something, im willing to put my neck on da line cuz i believe in what im talking about.


fellas read da definition of fungible.

Fungibility is the property of a good or a commodity whose individual units are capable of mutual substitution, such as crude oil, shares in a company, bonds, precious metals, or currencies.

It refers only to the equivalence of each unit of a commodity with other units of the same commodity. Fungibility does not describe or relate to any exchange of one commodity for some other, different commodity.

As an example: if Alice lends Bob a $10 bill, she does not care if she is repaid with the same $10 bill, two $5 bills, a $5 bill and five $1 bills or bunch of coins that total $10 as currency is fungible. However, if Bob borrows Alice's car she will most likely be upset if Bob returns a different vehicle--even a vehicle that is the same make and model--as automobiles are not fungible with respect to ownership. However, gasoline is fungible and though Alice may have a preference for a particular brand and grade of gasoline, her primary concern may be that the level of fuel be the same (or more) as it was when she lent the vehicle to Bob.

http://en.wikipedia.org/wiki/Fungibility

gold is AS fungible as money when trading for each other.

No, it is not. That is flat out wrong. FDR took us off of the gold standard in 1933 and Nixon completely ended the convertibility of gold to cash in 1971. Ask any bank robber if he would rather have cash, or an equal amount in gold.

NO you're conflating that sentence...smh

Gold = Gold = fungible

not gold for money, thats conversion... NOT what im talking about

You conflated the sentence yourself. You should have said, "gold is as fungible as money, when trading for itself". This is true, Not "when trading for each other", because gold is fungible, not liquid.

 

[jchambers]

short overview of fungible assets.


gold is recognized as a fungible asset worldwide.

Gold is fungible, meaning that it can be traded for equal values of gold. It isn't liquid.




"Fungibility is different from liquidity. A good is liquid if it can be easily exchanged for money or another different good. A good is fungible if one unit of the good is substantially equivalent to another unit of the same good of the same quality at the same time and place"



Do you understand the difference? Gold is not equal to money.

you're conflating da issue....GOLD when traded for GOLD is FUNGIBLE aka it DOESNT LOSE value being traded.

LIQUID is trading a asset to something that is more acceptable everywhere.

No, I am not. I don't think that you understand what fungible means. It doesn't mean that something is equal in value to money, it means that it can be traded for equal value with itself. Something is liquid if it can be traded for money or another different good. Gold is not money.