The Gold Market: Strategies for Investing and Reselling with Trey Benedict

All the Hacks with Chris Hutchins

Chris Hutchins

Business, Education, Investing, Society & Culture, Places & Travel, Self-improvement

4.7 • 1.4K Ratings

🗓️ 18 December 2024

⏱️ 54 minutes

🔗️ Recording | iTunes | RSS

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Summary

#206: Discover to secrets of gold investing, reselling, profiting and more with Trey Benedict. Learn the history of the gold market, how gold is valued, where to find opportunities for investing and reselling gold, the differences between the bullion and collector market, tips to avoid scams and so much more. Trey Benedict is the CEO and Co-Founder of Pure Technologies, a platform bring transparency, liquidity, and technology to the gold industry. He has extensive experience from Heritage Auctions, Tangible Investments, and Kevin Lipton Rare Coins. Link to Full Show Notes: https://chrishutchins.com/gold-investing-selling-buying-trey-benedict Partner Deals Gelt: Skip the waitlist on personalized tax guidance to maximize your wealth Cultural Care: Get $250 off flexible childcare with international au pairs Daffy: Free $25 to give to the charity of your choice Copilot: Free 2 months access to my favorite personal finance app with code HACKS2 MasterClass: Learn from the world's best with 15% off For all the deals, discounts and promo codes from our partners, go to: chrishutchins.com/deals Resources Mentioned Trey Benedict: LinkedIn Pure (Up to $150 off when buying/selling here) Coins American Eagle American Buffalo PAMP Lady Fortuna 230th Anniversary Flowing Hair Coin Grading Companies: PCGS vs NGC Costco Gold Bars: Price Guide and What to Know PCGS CoinFacts Heritage Auctions Stack's Bowers American Numismatic Association Professional Numismatists Guild ATH Episode #200: Debunking Tax Myths, Avoiding Audits and Maximizing Savings with Jasmine DiLucci Are Credit Card Rewards Taxable? Full Show Notes (00:00) Introduction (02:14) Understanding the Gold Market (04:50) The Many Different Reasons People Buy Gold (07:11) Trey's Journey with Gold and Coin Restoration (11:02) How Gold Is Valued and Priced (13:45) Spot Price and Gold Trading (24:01) Types of Coin Traders (26:37) How Can People Invest and Make Money in Gold? (30:37) How Often the U.S. Mint Releases Limited Coins (33:10) Pure: A Marketplace for Gold (43:26) Leveraging Discounted Gift Cards to Buy Gold (45:00) Ways to Mitigate Concerns Around Buying and Selling Gold (51:29) Vetting Coin Shops (53:47) Can You Trade Your Gold Jewelry? (55:01) Online Resources for Gold Info (56:12) Things to Avoid in the Gold Market Connect with Chris Newsletter | Membership | Twitter | Instagram | LinkedIn Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	Gold has captivated people for centuries, whether it's a hedge against inflation, a shiny
0:07.2	keepsake, or a means to turn a quick profit. But there is more to gold than meets the eye.
0:12.7	From Costco selling gold bars that fly off the shelves to people who score massive profits
0:17.4	on limited U.S. mint drops, the modern day gold market is so full of surprises.
0:22.9	In today's episode, I'm joined by Trey Benedict, who knows the ins and outs of this market
0:27.1	and is the founder of Pure, one of the biggest places to buy and sell gold online.
0:32.3	We're going to break down the myths and realities of gold investing, the dynamics of spot
0:37.1	pricing, and how you can
0:38.5	navigate and profit in this market. I'm Chris Hutchins, and if you enjoy this episode, please
0:43.5	share it with a friend or leave a comment or review. And if you want to keep upgrading your
0:47.5	life, money, and travel, click follow or subscribe. Now, let's get into it right after this.
0:54.1	This episode is brought to you by Gelt.
0:56.7	When it comes to building wealth, taxes are such a big part of the strategy, and as the
1:01.1	year comes to an end, being proactive now to lower your future liability is so important.
1:06.5	And now that I'm working with Gelt, I finally feel like I have a partner I can trust to
1:10.5	handle everything for my personal and business taxes.
1:13.8	Think of Gelt as the ultimate modern CPA.
1:16.6	Of course, they have an in-house team of expert CPAs to work with who help you determine
1:21.2	the most effective tax strategies to minimize risk and grow your wealth.
1:25.6	But they also have an amazing tech platform that gives you personalized guidance to maximize
1:30.7	deductions, tax credits, and savings.
1:33.2	It also has an amazing document vault where you can upload all your tax-related files,
	...

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