can I sell gold to the government for money?

Question

I was wondering if i could sell gold to the government for money. i figure the government could pay good

Answer 1

If you would make more money selling gold to the government then regular people, then why would pawn shops across the country sell gold in their shops to regular individuals? I would think they would know about the government and sell to them if it was more profitable and you would never see any jewelry stores or anybody selling gold anymore if selling to the government was the best option.

Answer 2

Gold is an asset for the fed. Selling any asset reduces the money supply, ie retractionary policy. Most people don't not thing of it in this manor but currency is a liability for the federal reverse. So to maintain the federal reverse solvency their assets have to be higher then the liability (like any other bank), So indirectly it is used to back current because they are backing the currency (ie called a fiat currency). And the gold is "backing them" keeping them afloat. But your right they can and do sell of assets there by reduce there liabilities. But right now such action would actually hurt the economy give that we are in a recession and it would reduce the money supply. For more info that that look up the IS-LM model. (requires graphing which i cant do here).

Answer 3

The government does not buy gold... if you have gold to sell you can read this tutorial on how to get maximum:

http://www.goldintomoney.com/how-to-sell-online/how-to-sell-gold-and-silver-jewelry-for-maximum-cash

Answer 4

no but you can sell gold to a refinery for money or go to a Gold Party

Answer 5

http://www.campaignforliberty.com/blog.php?view=9763



This link will help you to sell Gold



:)