Welcome back well technically I guess it Was me that was out so welcome back to Me now we're going to start back right Where we left offer where I left off That way we don't have to talk yet about The midterms So a lot of people around here are Pretty smart there's a gotcha to be Found in something that I said in the Video why it's going to show up in the Comments pretty quickly like apparently I didn't name this coin in the last Video that I flashed it in this is a 2022 one ounce gold dragon proof coin From the Perth Mint and you might not be Familiar with coins since there were Only 188 of them minted that's why I Wanted the coin but let's come back to That rather than open up in the weeds Since the gotcha that I mentioned was Actually more on the topic of turning Gold to cash last week I mentioned how a Person with gold on hand would have Access to cash faster than a person with All their money in a bank savings Account and a few people mentioned that In the event of a wide scale Bank Run Local coin shops will run out of cash as Well and that is definitely possible In the case of a widespread Bank Run the Rules would change if you have gold you Have an option the person without gold Does not but it is a fair point the Local shops probably don't have an
Infinite amount of cash available now I'm not really buying gold for things Like Bank runs balance total economic Collapse I'm planning for more practical Situations and if the more serious Issues come up well I'd have a few more Options in those situations as well but Whatever the case if I wanted twenty Five thousand dollars in cash in a day I Could see my banker for some of it in my Local coin shop for the rest Now if there was a lot of activity Happening some kind of major event going On well I wanted to get a hold of that Cash well having Eagles and buffaloes That is the best chance to get a quick Sale at a coin shop this is simply what They want most at least here in the United States and that's why I've been Mentioning my split on the types of gold That I have some of it is for quick Needs if it comes up and then some of It's for fun it really wasn't that long Ago that all I had was Eagles and then Just a few other things Lately I've turned that around though I'm buying fun stuff primarily mostly Because I feel like I have enough Eagles It's never enough but I should have Emergencies covered with what I have now For the fun stuff my local dealers they Really don't care about this double Peace out here they want the few coins All their customers want that's Eagles
Buffaloes Maples krugs But at some point I just don't care I Won't have any trouble selling any of These myths and legends coins because I Only have a few but my local shops they Would buy them but they would give me Less at least than I think they're worth Or well I know they're worth and finding The right buyer that takes time so I can Get them moved but these are not for the Type of quick conversion to cash that I Was talking about last week now the Important part here is scale selling Three ounces would probably get me Enough to cover most personal Emergencies or at least subsidize it and It just isn't hard to sell three ounces In a pinch and then walk away with cash Every dealer they are different but I Can tell you how my own sales have gone And the first sale it was a pile of Random stuff and calling that one sale That's probably a stretch of because it Took me eight or nine stops just to get About 15 ounces moved maybe it was a Little bit more than that but I had a Lot of old European gold and a few Stubborn shop owners at the time so Those sales they were difficult but they Were all paid in cash now the second Sale that was a tube of eagles and I had That one done inside of an hour I got Cash again and there was an IRS form for Anyone wondering but I showed a loss in
That sale so no big deal I've sold three Ounces at a coin show again all cash and Then the fourth and final time for me I Gotta check now I felt really strange But I was clearing out a few coins that I didn't want so it wasn't a big deal to Me at the time but I really should have Walked on that deal I could have just Sent them to JM Bullion taking a little Bit more time but I would have gotten a Better deal I was just a dummy I thought That I was getting cash in this case Because I always had I should have asked So getting a check for your sale kind of Defeats the purpose of what we're Talking about right now you sell your Gold to get some cash but then you have To go to your bank to cash the check Anyway it's kind of a catch 22. so again I don't work in absolutes I plan in Order to get a little bit more Flexibility and I don't go all in on any One thing like I said earlier the goal That I have is divided into use cases Those Eagles buffaloes they would be my Quick needs coins and then these myths And legends coins well they're for fun And possible appreciation same goes for Anything that I have that isn't U.S mint Bullion and that gets us to some Specific fun stuff the Perth Mint Releases most of their series coins at a Very reasonable premium my more recent Myths and legends coins or any of my
Lunars they are good examples because I'd probably get two percent less than An eagle or a buffalo at a local shop if I was to sell them back so the spread Well it's about the same assuming the Coin shop wants them because I can buy Them for less than those buffaloes and Eagles so nothing here is really in a Totally different category until you get To the truly collectible stuff now I've Shown my high relief rooster my high Relief tiger both of those from the Perth Mint both of those have extremely Limited mintage and I would sell neither One of them but I grabbed this here's One ounce gold dragon proof from the Perth Mint with a different idea in mind And this has a mintage of 188 coins Worldwide and I feel like I was sleeping On past releases of these Dragon proofs Because they're really nice but you have To jump on them immediately or you're Paying crazy premiums from secondary Market this is the fourth in the series By the way I think the first and the Second releases were a little bit nicer Visually but the Perth Mint always Nails It these coins are not available at the Moment I'm guessing that app Max will Sneak a few back on at some point but as Far as the design goes it's a Chinese Dragon curling into a double number Eight that number eight that's Lucky in Chinese culture this design well it's
Meant to be a symbol of Fortune and Prosperity which you know is cool I'll Take whatever fortune and prosperity I Can get a hold of but I like the Infinity symbolism as well whether that Was intentional or not A premium on that coin by the way was 26 I grabbed it within a few minutes of it Being available and If any more show up The online dealers it will just continue To go up especially with spot price Doing what it's doing you wouldn't buy Any of these for an emergency Liquidation event not the lunars not the Chinese myths and legends coins and Certainly not the proof dragons I Definitely didn't buy them for that I Bought them because I like them and I Think my kids will like them someday as Well most of these have some kind of Symbolism or a little bit of a story Attached to them some reason that I like Them specifically and some of them I Guess well they have a great big story Something that would make it impossible For me to sell like the rooster or like The tiger and also hard to get with Their worth but I could still sell Anything I have to a local shop if I had To now all this talk about selling is Really more about buying how you buy Right and I'm not planning to sell Anytime soon I just don't want any Surprises when or if I do so that's what
Drives the first part of my stack I also Don't expect to ever have to sell Everything I have I don't think that I'll be racing to the local shops to get Ahead of everyone else and I'm not naive To the possible shortages of cash that The local coin shops might have or even The possibility that if things get Really bad it won't be able to sell some Of what I have but in 99 of the likely Situations having gold available gives Me more flexibility than not there is no Catch-22 there if I need eight or nine Thousand dollars in cash I bet I could Have it a lot faster by selling some Gold than I could by running to the bank It's pretty straightforward really so Let's call it good there let us know What you think do you buy gold because You're expecting Banks to fail or are You buying more for practical and likely Reasons let us know and while you're in The comments be sure to hit the like Button if you found any of this Interesting be sure you're subscribed With notifications turned on if you'd Like to see more on the topic and if You're still here thanks again for Watching I always appreciate your time Take care Okay one more thing I have been out for Almost two weeks now at training injury I guess escalated into something much Much bigger and it's going to take a
Little while to work through it but I am Back at it now and I really appreciate You sticking around so hug your family And take good care Foreign
