I guess not exactly currency, but being able to cash in your old jewelry and have it instantly deposited as cash into your bank account is pretty darn close. So are other assets - shares etc.. There are a couple of auction houses down here do estate jewelry and charge 25% seller's premium (20% buyer) for the privilege! As an observation, there are always (mostly) Asians checking out the pieces with a jeweler's loop and digital scales. Wonder how much the ATM clips by way of transaction fees?
I thought it interesting from the POV of it being a neat way of hoovering up retail gold - 21st century pawn! I guess there's a market for it, in China at least, or why bother?
Enjoy your posts. Cheers.
SPR Price at posting:
$1.51 Sentiment: Buy Disclosure: Held
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