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RE: HF20: A Reminder of Third Party Counter Risk

in #steemit6 years ago

Thanks for the question. Most of the jewelry industry in the western part of the world sells 14k karat gold, which is 58% pure, at hundreds and sometimes even thousands of percent markups, so the piece loses most of its value the minute you walk out the door. Mene sells its 24 karat gold by gram weight with a 20% or less design fee which means you retain almost all of what you paid for the jewelry within the value of the gold. If you are going to purchase gold jewelry, or gold gifts it makes sense to use most of the the cost of the item towards the gold value vs an arbitrary mark up for cheap or diluted gold. A lot of people on Steemit don’t find that silly.

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Next time I need some dirt-cheap jewellery*, I should head to mene, then? Thanks for the heads-up. :)

*Compared to how regular jewellery is marked up (going off what you say).

Thanks for your interest :)

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