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buying gold with monero

by /u/cthulhuskittens · 2 votes · 3 months ago

has anyone ever used to purchase gold with monero? if so did you actually receive what you paid for? this is the only xmr-for-gold site that comes up with a cursory search & while there are a few "scam" accusations they seem a bit flimsy & in general i don't get a scammy vibe, however i'd like to hear from at least one real satisfied customer before i go throwing xmr into the void. they're supposedly located in Wyoming & prices are actually better than SDBullion which i'm told has the lowest prices for $ purchases.

Comments (12)
/u/BiffMcDread · 1 votes · 3 months ago · Link

why would you order gold online with crypto, if you can buy it in every smaller town anonymously with fiat?

/u/cthulhuskittens OP · 1 votes · 3 months ago · Link

in what towns can you buy gold without insane markup at real-world stores? sure you can walk into a pawn shop but you're going to come out with mystery meat - plus any brick & mortar metals dealer will have to pay rent which in my city is extortionate, so i would expect their prices to be way above spot+premium. if i'm overlooking something really obvious do tell, but from what i understand there is a reason everyone buys online?

/u/BiffMcDread · 1 votes · 3 months ago · Link

maybe in a bigger city near you should a gold dealer that sells 1 ounce American buffalos or Mexican centennials, or coins from the latin monetary union (.900) without much markup. maybe 1-2%. Maybe it's a different market where you live.

if mail with insurance I'd mail you coins or a bar. I live in Europe and there are a number of big dealers and mints.

/u/cthulhuskittens OP · 1 votes · 3 months ago · Link

i'll have to check, but i think the point of ordering online is that you save bc sites like SD Bullion buy wholesale - a brick & mortar store unless it's an outpost of a larger outfit is not going to have thousands of coins in inventory, so they pass the added cost on to their customers. i could be pleasantly surprised, but the US has a really weird relationship with gold that generally means we have to pay through the nose for it & it's unreasonably difficult to obtain

/u/BiffMcDread · 1 votes · 3 months ago · Link

since you already own crypto, you could also exchange your xmr to past. past is a gold backed stable coin in the us, you can either buy unallocated or allocated assets. if it's a bigger sum you can also be paid out in gold instead of crypto I believe.

/u/dinerito44 P · 1 votes · 3 months ago · Link

i am interested in this as well

/u/whatupp · 1 votes · 3 months ago · Link

The site you refer to has an (and has to abide to) AML policy and quite strict ID requirements which sort of nullify the whole purpose of XMR. I don't think you'll find anything out there that provides such a service, either it's a scam or has to strict ID requirements that void the whole purpose of XMR.

/u/cthulhuskittens OP · 1 votes · 3 months ago · Link

reading their AML policy it says the stricter requirements only apply on deals above $10,000 - if one was just buying a coin or two one wouldnt't be subject to the whole mess. since the coin would have to be shipped to my address anyway i'm not expecting total anonymity, just confidence i will get what i order without extortionate fees etc as would be incurred from converting to BTC or USD

/u/dinerito44 P · 1 votes · 2 months ago · Link

I found out a way of getting gold. if u are interested lmk. no personal info is needed

/u/cthulhuskittens OP · 1 votes · 2 months ago · Link

sure, as long as it doesn't involve sending my coin to some random on telegram (i actually got contacted by some schmuck asking me to do just that - unbelievable what people think we will fall for)

/u/dinerito44 P · 1 votes · 2 months ago · Link

no absolutely not. please note that these are just gold bars. There is no stamp on them it is just gold

/u/cthulhuskittens OP · 1 votes · 2 months ago · Link

& where do they come from, is there any sort of certification that they are legit, etc etc pm me whatever info, though i guess with crypto now wallowing at basement level valuations i would rather wait til it goes back up