Buying a 99¢ taco with 1 ounce gold coin

Originally posted by Rockpuck
reply to post by Regenmacher

 

So you apparently have never actually purchased a Gold coin before? You don't just except a coin because "it feels right" .. how incredibly ignorant on your behalf when dealing with an investment?

It's more like: how incredibly ignorant of you to presume you have better sensory perception or have more experience than I do. I can tell US gold coins by visual and feel, and I have been into numismatics since I was a teen. I have yet to unknowingly buy a fake coin after 1000s of purchases. The same skill is in many of my family members.

That same experience and attention to detail also applies to knowing the difference between counterfeit and a real US paper dollar.

Pay attention and do the math:

Originally posted by Regenmacher
If your familiar with the coin and the weight, it's a no brainer.
Fake $50 gold coin is worth $15 anyway, and thus you still make over 7x profit.

It is more evident that a drive up employee is a idiot in matters of legal tender, numismatics, basic math or risk vs. reward.... and to excuse such behavior is the mark of a fool.

Originally posted by eNumbra

Once the value of those dollars corrects that coin goes back to a realistic "value", and by realistic I of course mean whatever we think shiny rocks are worth.

For thousands of years people have thought those shiny rocks were worth enough to wage wars and loot empires. Gold has technological properties so there'll always be a need for them in the modern world.

props to Mark Dice this was funnier than his last video walking on the street trying to sell his coin.

reply to post by James1982

For a dollar you could take a chance. I only wish it would happen to me!
Go to bestmetalresearch to learn the latest on Gold and Silver and why.

Yes it's amusing....I'll give you that.

However, I worked for a major retailer in college as a customer service manager and had pretty much the same situation. A guy came in to purchase some car audio equipment and said the only method of payment he had was gold. Personally, I think he just came to prove a point, but whatever. So, he goes to the car audio department, picks out his items, and gives the kid at the counter a bunch of gold coins. The kid tells him we can't take it, and the guy proceeds to launch into a speech about gold. The kid, not knowing what to do calls me to come talk to the guy. Now, why he would pull out a handful of gold coins for car audio equipment which at most would have been covered by one, maybe two with change due to him is why I think it was staged, plus his speech seemed a little prepared, but good of him for finding a way to kill an hour.

Yes, I was aware that gold is legal tender for purchases, however the vast majority of stores today use computer based systems with company approved pay types, gold/silver/various precious metals are not on the list of pay types and therefore the transaction can not be completed. If people want to start some huge campaign to change that be my guest. However, due to market fluctuations and the inability or unwillingness to teach people how to spot fakes I doubt there will be much success. It is not the responsibility of the lowly clerk to debate payment methods, they have their job and the rules of their job.

As for this guy, he just wanted to make a funny youtube video. Taco bell (at least in my area) has signs posted that they do not accept anything larger than a $20. The price of gold (last I checked) was about $1475 an ounce. I doubt they had $1474 to give him back as change anyway, and I can say with a good amount of certainty that they didn't have any other precious metals in the vault to trade or make change. Stores rarely keep more than $500 in a till and fast food restaurants are often less than that.

Yes, ha ha very amusing, but I don't really think it's amusing to give the poor person in the drive through grief to prove your little point. Obviously that person already has the most rewarding job on the planet, why not go be an ass to the fast food worker and make that person look like the idiot.