Hey biz,
I have no money but a decent credit score, I can use paypal credit to buy something with 6 months no payments + no interest.
I was considering buying gold bullion on ebay, then selling it when gold prices went up. I feel like 6 months is enough time to be able to get the money back and then some.
My only experience with shit like this is buying musical equipment low and selling it high
Flaws in my logic? Thoughts, options?
The problem is that there's no guarantee that gold will be worth more in the future. It's pure speculation.
>>1175860
I see, so it could tank completely despite being considered one of the safest investments...
>>1175846
>buy gold
>pay 8% of its value to get it sent to you
>sell it later
>4-5% tacked off the price to buy it from you
Gold bullion is one of the most retarded flips one could try to make.
You would be better off buying a ETF of diversified metals to hold in a portfolio or a gold mining company/index if you want to speculate.
>>1175846
just flip more gear man, guaranteed profits and you can mostly easily avoid dealing with shitheads
>>1175884
Yes, absolutely. It could tank.
Also, if you do this AND you have good reason to believe that the price will go up (and you'd be delusional...), just be responsible and buy put options to limit your downside risk.
Betting on gold going up is in the same vein as betting on economic stagnation/decay.
>>1175846
> buy gold
> wait 6 months
> resell said gold
> taking in account fees at 18%
> taking in account shipping costs
> would have to make 30% or more
> in 6 months
I say go for it biscuit!
>>1175920
Ok, better to stick with someting I know I suppose
