Every year, around Thanksgiving, there are several inquiries about the relationship between gold and Black Friday and if you can purchase gold bars at Black Friday prices. To help you save money on your gold purchase, we thought we’d go over some fundamentals about how the establishment of an association, where to buy or trade gold and silver coins on Black Friday, and how you may still take advantage of the famous shopping holiday.
Two American gold investors in the 1800s were the cause of the first Black Friday
After two investors attempted to corner the gold market on September 24, 1869, the demand for gold crashed. James Fisk and Jay Gould led a group of investors to profit from the government’s gold holdings and the debt it had issued during the Civil War and Reconstruction. Gould and Fisk used their access, power, and inside knowledge. They enlisted Abel Corbin, the brother-in-law of the American President at the time, Ulysses S. Grant, using their ties. They obtained an inside scoop from the U.S. assistant treasurer about the government’s intention to sell gold bars thanks to Corbin’s connections. Gould started purchasing a lot of gold in the late summer of 1869, which raised the price.
On September 20, 1869, a month later, Gould and Fisk started to stockpile this sum, refusing to sell and raising the price even further. Gould and Fisk released their gold first on September 24, anticipating the U.S. releasing $4 million worth of gold into the market. Because of the abundance of supply, prices abruptly fell. Gold didn’t naturally rise to these prices during this intentionally induced and unsustainable boom over 100 years. It’s unlikely that you will get a discount on gold bullion on Black Friday this year or any year.
Even for a special occasion like Black Friday, it’s unlikely that you’ll ever find pure gold bullion marked down because it is a commodity rather than a good produced at one cost and then marked up for sale. For certain occasions, gold and silver coins and other decorative items might be marked down, but this only applies to the final artistic or decorative result and not to the worth of the gold, which is often lower than the sale price of such items.
Where to get gold and silver coins to purchase or sell on Black Friday
You should choose the New Year Gold Co. leading coin leader when buying or selling gold or silver coins on Black Friday. In addition to charging more when purchasing gold and silver coins, we also offer lower prices when selling coins and bullion than our rivals. Our buy/sell margins are among the lowest in the sector. Some of the best investments and presents you can give are coins and gold bullion. Coins and sets in lovely velvet display cases are just a few possibilities that would make ideal presents. We recognize the value of appearance and will try to suit your needs.
Right now, it is an excellent opportunity to sell gold and silver coins because those metals are trading close to their all-time high values. Selling coins and bullion to one of the top coin dealers in the business at the top of the market will result in more money if you anticipate doing a significant amount of holiday gift shopping and need extra cash. During Black Friday and Cyber Monday, savvy silver bars purchasers might still find ways to save.
But that doesn’t mean that retailers and resellers of gold, like the New York Gold Company, don’t provide promotions for Black Friday or even the Monday after Thanksgiving, known as Cyber Monday. Instead, expect add-ons to be waived or additional products to be included at no extra charge. This doesn’t devalue the gold itself but provides savvy buyers with a genuine discount.
Why buy gold?
Although gold is not used as money today, it has served as money for thousands of years, making it superior to all other currencies. In actuality, gold has outlasted all previous forms of money. Money’s ability to act as a long-term store of value is one of its most important promises. Gold keeps this promise more than any fiat money. You can hold physical gold in your hands if you purchase it, which is impossible with most other investments. Fire, water, or even the passage of time cannot affect real gold. Gold is physical, limited, and highly flammable. You can convert gold to cash with ease.
One of the best investments for long-term wealth preservation is physical gold. It is also the best option for your heirs because it will maintain its purchasing power better and longer than any future currency they may use. Even though most investors believe their portfolios are diverse. An honest examination reveals that their brokerage accounts are primarily of stocks and bonds. You will learn how to attain proper diversification in this guide, which can protect your portfolio from market turbulence, rising volatility, and upcoming downturns. In a world of money printing, ether investments, and elevated systemic risks, it is essential to comprehend gold’s role as both a monetary asset and a hedge and store of value. Understanding how gold can protect your other investments and maintain your purchasing power, regardless of currency depreciation, economic slowdowns, market crashes, government errors, geopolitical conflicts, or any other crisis that may come our way, is essential to successful investing. It goes beyond simply selecting a stock that on expects to rise. Whether you’re interested in buying or selling gold and silver coins, The New York Gold Company will be available to meet with customers all day on Black Friday and, over the weekend, by appointment. Call us right away before we get booked up. We eagerly await your feedback and the opportunity to earn your business.