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

[ninjahood]

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. they. 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.

he's doing that regardless of whether you walk into da door or not.

bottomline is gold is a fungible asset, he DOES NOT lose money taking a gold bar and give you a gold chain because

A. da gold content in da chain he's getting it back in da bar.

B. da extra gold left over is given back to you at 98% spot price PLUS he's taking money for labor of making da chain plus da alloy cut.

da result WILL be be cheaper then doing a cash transaction BECAUSE gold is fungible with itself.

 

[jchambers]

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. they. 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.

he's doing that regardless of whether you walk into da door or not.

bottomline is gold is a fungible asset, he DOES NOT lose money taking a gold bar and give you a gold chain because

A. da gold content in da chain he's getting it back in da bar.

B. da extra gold left over is given back to you at 98% spot price PLUS he's taking money for labor of making da chain plus da alloy cut.

da result WILL be be cheaper then doing a cash transaction BECAUSE gold is fungible with itself.

Ninja, what jewelry do you currently own and when was the last time you purchased any gold or jewelry?

 

[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.

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.

yes it is, and if you dont wanna get jerked you treat like like such.

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

gold coins of the same grade and weight are fungible, as well as liquid.

pure gold is a liquid asset.

 

[ninjahood]

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. they. 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.

he's doing that regardless of whether you walk into da door or not.

bottomline is gold is a fungible asset, he DOES NOT lose money taking a gold bar and give you a gold chain because

A. da gold content in da chain he's getting it back in da bar.

B. da extra gold left over is given back to you at 98% spot price PLUS he's taking money for labor of making da chain plus da alloy cut.

da result WILL be be cheaper then doing a cash transaction BECAUSE gold is fungible with itself.

Ninja, what jewelry do you currently own and when was the last time you purchased any gold or jewelry?

you forgot about cuban huh.

 

[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.

yes it is, and if you dont wanna get jerked you treat like like such.

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

gold coins of the same grade and weight are fungible, as well as liquid.

pure gold is a liquid asset.

Was that deposit that you put on the Loon Jesus piece back in 2005 a fungible deposit, can you get it back or get an equal amount of money back if you don't ever cop the Jesus?

 

[jchambers]

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. they. 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.

he's doing that regardless of whether you walk into da door or not.


bottomline is gold is a fungible asset, he DOES NOT lose money taking a gold bar and give you a gold chain because


A. da gold content in da chain he's getting it back in da bar.


B. da extra gold left over is given back to you at 98% spot price PLUS he's taking money for labor of making da chain plus da alloy cut.


da result WILL be be cheaper then doing a cash transaction BECAUSE gold is fungible with itself.

Ninja, what jewelry do you currently own and when was the last time you purchased any gold or jewelry?

you forgot about cuban huh.

You said you sold the cuban a few years ago. I asked what jewelry you own currently.

 

[ninjahood]

]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.

MOST of not ALL jewelry that are reputable are paying you back 98% of spot gold price..i already discussed this.

read CAREFULLY what i wrote, i already factored in everything you said.

 

[ninjahood]

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. they. 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.

he's doing that regardless of whether you walk into da door or not.


bottomline is gold is a fungible asset, he DOES NOT lose money taking a gold bar and give you a gold chain because


A. da gold content in da chain he's getting it back in da bar.


B. da extra gold left over is given back to you at 98% spot price PLUS he's taking money for labor of making da chain plus da alloy cut.


da result WILL be be cheaper then doing a cash transaction BECAUSE gold is fungible with itself.

Ninja, what jewelry do you currently own and when was the last time you purchased any gold or jewelry?

you forgot about cuban huh.

You said you sold the cuban a few years ago. I asked what jewelry you own currently.

couple of rings, a bracelet, and earrings..whats da point? im gonna assume you're not tryin to pull da "well you

dont have a cuban NOW so you dunno what you're talkin about" card, cuz i'd be dissapointed in you.

 

[jchambers]

]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.

MOST of not ALL jewelry that are reputable are paying you back 98% of spot gold price..i already discussed this.

read CAREFULLY what i wrote, i already factored in everything you said.

But you don't actually own any jewelry or bullion to trade, so they would be paying you 98% of 0, which is still 0. So no matter what, you are going to be paying full price for the chain, or putting it on layaway for 5 years.

 

[jchambers]

All trash talking aside. I think that we can all agree that nobody is going to straight up trade gold in any form, for a chain. Jewelers are like pawn shop guys and car salesmen, they want to make the largest margin possible. You will have to pay for the labor, mix/melt etc, no matter if the chain is in stock or not. Even if you went into a pawn shop with two 250 gram 14k chains and wanted to trade them straight up for a 500 gram 14k chain that they had in stock, they wouldn't do it without you paying some extra cash.

 

[ninjahood]

for folks to get a clear understanding of what im talking about, got to da 4:10 min mark and see currency vs money and how

gold value is explained.

 

[ninjahood]

All trash talking aside. I think that we can all agree that nobody is going to straight up trade gold in any form, for a chain. Jewelers are like pawn shop guys and car salesmen, they want to make the largest margin possible. You will have to pay for the labor, mix/melt etc, no matter if the chain is in stock or not. Even if you went into a pawn shop with two 250 gram 14k chains and wanted to trade them straight up for a 500 gram 14k chain that they had in stock, they wouldn't do it without you paying some extra cash.

thats fine, but it wouldn't be alot of money at all...how much YOU think he would charge? cuz im telling you its not alot for that

transaction because of da gold fungibility..i've seen this done a MILLION time..chill in a jewelry shop for a day and these type

of transactions are common.

his 14k gold isn't more valuable then your 14k gold so istead of shooting in da dark with ambiguous prices where da jeweler has ALL

da leverage, both of ya are on da same level and ya working out da price of a "convenience fee" and da end

result will be CHEAPER then doing a cash transaction.

 

[jchambers]

All trash talking aside. I think that we can all agree that nobody is going to straight up trade gold in any form, for a chain. Jewelers are like pawn shop guys and car salesmen, they want to make the largest margin possible. You will have to pay for the labor, mix/melt etc, no matter if the chain is in stock or not. Even if you went into a pawn shop with two 250 gram 14k chains and wanted to trade them straight up for a 500 gram 14k chain that they had in stock, they wouldn't do it without you paying some extra cash.

thats fine, but it wouldn't be alot of money at all...how much YOU think he would charge? cuz im telling you its not alot for that

transaction because of da gold fungibility..i've seen this done a MILLION time..chill in a jewelry shop for a day and these type

of transactions are common.

his 14k gold isn't more valuable then your 14k gold so istead of shooting in da dark with ambiguous prices where da jeweler has ALL

da leverage, both of ya are on da same level and ya working out da price of a "convenience fee" and da end

result will be CHEAPER then doing a cash transaction.

For a transaction like that? Ima say between $300-600 bucks.

 

[ninjahood]

All trash talking aside. I think that we can all agree that nobody is going to straight up trade gold in any form, for a chain. Jewelers are like pawn shop guys and car salesmen, they want to make the largest margin possible. You will have to pay for the labor, mix/melt etc, no matter if the chain is in stock or not. Even if you went into a pawn shop with two 250 gram 14k chains and wanted to trade them straight up for a 500 gram 14k chain that they had in stock, they wouldn't do it without you paying some extra cash.

thats fine, but it wouldn't be alot of money at all...how much YOU think he would charge? cuz im telling you its not alot for that

transaction because of da gold fungibility..i've seen this done a MILLION time..chill in a jewelry shop for a day and these type

of transactions are common.

his 14k gold isn't more valuable then your 14k gold so istead of shooting in da dark with ambiguous prices where da jeweler has ALL

da leverage, both of ya are on da same level and ya working out da price of a "convenience fee" and da end

result will be CHEAPER then doing a cash transaction.

For a transaction like that? Ima say between $300-600 bucks.

that BEAUTIFUL because you're understanding something.

so look at da previous math i did. 500 gram pure 24k gold trading it for a 500 gram 18k chain and bracelet.

going buy your logic your STILL coming away with:

-a 500 gram combined 18k cuban link chain and bracelet

- over 5 grand cash

you're SAVING THOUSANDS UPON THOUSANDS buying da gold bar at whole price and TAKING that wholesale savings

and applying it your final trade transaction. vs buying da chain and bracelet straight cash.

 

[jchambers]

Don't forget cost to melt/mix, cost for alloys, and the $3500 for labor. So even if you have the gold already, you are looking at a good $5500 on top of that.

 

[ninjahood]

Don't forget cost to melt/mix, cost for alloys, and the $3500 for labor. So even if you have the gold already, you are looking at a good $5500 on top of that.

nah, because a gold bar >>>> gold chain as far as tradibility

you can't say 300-600 to trade chain for chain

and turn around and think its gonna be 3500-5500 for bar for chain, especially when da bar is more fungible

then a chain...makes ZERO sense.

when he takes da bar from you he can do w/e he wants with it because its 24k PURE gold, he can either break it down and make

make more jewelry for a profit, or he can trade it ahead when da spot price increases and make a profit that way.

 

[mr jordan04]

Don't feed the troll

 

[ninjahood]

So what's the point of owning a jewelry store? You really think those guys are living off of straight labor?

spoken like someone who's never done this before.

i have.

gold is a fungible asset. you can use gold as a form of currency..alot of ya just getting jerked by forgetting this.

 

[jchambers]

 

[robsheedwallace]

Wait so you mean to tell me if I cop a 500 gram gold bar and take it to jacob to get an 160 gram jesus done he'd basically trade it for the bar, make the jesus, give me cash back on top of that and I'd leave out making money off him then having to pay him?!?! and I thought jewelers were sharks...


I did not read the past 95 post...

 

[ninjahood]

Wait so you mean to tell me if I cop a 500 gram gold bar and take it to jacob to get an 160 gram jesus done he'd basically trade it for the bar, make the jesus, give me cash back on top of that and I'd leave out making money off him then having to pay him?!?! and I thought jewelers were sharks...


I did not read the past 95 post...

you're not understanding whats going on in da transaction..you're "not making money off him"

da transaction involves:

-a equal trade of equal parts gold for equal parts gold

-da rest of da gold thats left from da purity and da physical amount left he's buying off you and PAYING you 98% spot price for it

-he's taking a cut from da cash payout of da gold thats left from da alloy and labor.

da result is your SAVING more money doing like that because you purchased da gold at a wholesale price and da value savings

TRANSFERS as da gold goes from bullion to pendant.

 

[ninjahood]

spoken like someone who's never done this before.

i have.

gold is a fungible asset. you can use gold as a form of currency..alot of ya just getting jerked by forgetting this.

You're right, and I probably never will, unless i decide to melt a few pieces and make a 2k cuban.  Hell, I buy most of my shoes at whatever those resellers are selling them at. I'm really not worried about all of the 1,000s i could have saved, buying all of them from a footlocker or champs or whatever.

You're going to give that jeweler a hard time, probably even waste his time, and walk out with nothing.

thats da different between me and you i care about **** like this cuz i aint trying to be jerked.

...99% of my collection was either retail or on sale

currently if i sold my entire collection of kicks i would come out making a profit

this ISNT giving a jeweler a hard time because gold is gold. he's making money off da transaction..

 

[jchambers]

Wait so you mean to tell me if I cop a 500 gram gold bar and take it to jacob to get an 160 gram jesus done he'd basically trade it for the bar, make the jesus, give me cash back on top of that and I'd leave out making money off him then having to pay him?!?! and I thought jewelers were sharks...


I did not read the past 95 post...

Yep, that's exactly how it works. Jewelers don't actually make any money. They just like having a lot of gold around. They will actually lose money, if it means that they can obtain a tiny bit of gold. It isn't like they deal with gold every day or have access to a lot of gold bullion, so when someone like Ninjahood comes in there with a rare gold bar, it is like a deadstock pair of OG Jordans to them. They can't resist and will do anything to obtain it, because of its rarity.

 

[jchambers]

Ninja is going to email David at Daniel manana and we will see what the answer is.

 

[crystalmethod]

I really just read all that