It’s a lot less gold than you probably are thinking. A million doesn’t even buy you a single bar of gold like you see in the movies(400 troy ounce, 27.4 pounds, 12.4kg).
I’d find a well-established shop that sells gold bullion, go there, and tell them I’d like to purchase a million dollars’ worth. Probably not the most efficient way, but it would be very fast and I think I can get by with losing a few percent of my new fortune.
If you live in a city with a decent size manufacturing scene you could also absolutely buy a million dollars worth of metal from a supplier in town. Especially higher end alloys and metals
But I think it’d probably be easier to buy a million dollars worth of jewelry.
Gold jewelry doesn’t have as much inherent value as bullion, so it would be harder to sell without losing money. And in 24 hours I could easily drive to a big city for the purchase (or just book a flight with a tiny fraction of the money).
I buy $1M worth of gold. Definitely something that could be done in a day, and it’s a good investment and highly liquid.
That’s only about what twenty pounds? That actually seems pretty reasonable.
Good call! How would you even get your hands on a millions worth though? Although you could probably just buy a load of Tiffany’s stuff and resell it
It’s a lot less gold than you probably are thinking. A million doesn’t even buy you a single bar of gold like you see in the movies(400 troy ounce, 27.4 pounds, 12.4kg).
I’d find a well-established shop that sells gold bullion, go there, and tell them I’d like to purchase a million dollars’ worth. Probably not the most efficient way, but it would be very fast and I think I can get by with losing a few percent of my new fortune.
If you live in a city with a decent size manufacturing scene you could also absolutely buy a million dollars worth of metal from a supplier in town. Especially higher end alloys and metals
But I think it’d probably be easier to buy a million dollars worth of jewelry.
Gold jewelry doesn’t have as much inherent value as bullion, so it would be harder to sell without losing money. And in 24 hours I could easily drive to a big city for the purchase (or just book a flight with a tiny fraction of the money).
I don’t think you have to sell it though? At least not from reading the original post
But a million is also not that much. I’d imagine any jewelry store in a mall has multiple millions worth of inventory
I don’t have to sell it, but I assume I’ll want to eventually. And yeah a million isn’t really that much for a precious metal shop anyways.
Nice plan!
Online dealers order to house?