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I don't understand these. What are people using it for? Is it just for novelty purposes, and as a promotional tool for gold as an investment?
by lifeformed 12y ago
I don't understand these. What are people using it for? Is it just for novelty purposes, and as a promotional tool for gold as an investment?
- seanmcdirmid 12y agoThey are probably shooting at the Chinese market. When you live in a dysfunctional country, gold is consider a useful investment.
- NoMoreNicksLeft 12y agoGoldbugs like anonymity. You know, in case Obama decides to pull an FDR and confiscate all their precious Au.
- jrochkind1 12y agoExcept you have to use an ATM debit card in the machine. If you wanted anonymity or lack of traceability, I think you'd rather buy with cash, probably using an actual in-person transaction. (I don't know if the US or other countries require registering identity of people buying gold in person in cash? I don't think the US does).
- pavel_lishin 12y agoYou could always offer cash to passers-by to use their debit card to make the purchase.
- ef4 12y agoAny cash purchase (of anything, not gold in particular) over $10,000 requires submitting a form to the treasury. Not that that's easy to reliably enforce.