Jewelry store rejects my 5 taels of gold when I try to cash in

Lately, people have been on edge over gold prices, which have been swinging wildly and spiking without warning. Some are thrilled, cashing in on long-hoarded gold for big profits. Others are filled with regret, wishing they had bought when prices were much lower.

I have bought gold before too, but all it ever brought me was trouble. I kept worrying—where could I store it safely? What if the shop refused to buy back their own product? The gap between the buying and selling prices is so wide that even if there is a profit, it is hard to sell. These questions kept nagging at me.

My family's gold-buying habit started with my parents. They used to string together 24K gold rings as a way to save. When my siblings and I grew up, my father gave each of us some to start a business, buy property, or invest. Following his example, I started buying gold myself.

When gold was just over VND50 million per tael, I went to a small store to buy bars, but they were out of stock. The seller, the shop owner’s sister, instead offered me a gold ring weighing five taels (1 tael=37.5 grams or 1.2 ounces), sealed and tagged with an RFID chip. She guaranteed that when I wanted to sell, they would buy it back at the same rate as gold bars.

So when gold hit VND73 million, I returned with the gold to sell. But this time, the shop owner’s son was there. He said they would only pay VND54 million. I reminded him of the promise I had been given. He shrugged and said, "Whoever gave you that guarantee, go sell it to them. I never promised anything."

I left without a word. After that, I gave up on gold entirely—it just was not worth the hassle. Not long ago, a friend bragged about making a big profit from gold and mocked me for leaving my money in the bank at such low interest rates. I just gave him a slight, knowing smile.

I have also tried buying U.S. dollars before. I put them in a box and locked them in a safe. A few months later, I took them out to sell—only to be told the notes were discolored and had lost value. Since then, I have also sworn off buying the greenback.

These days, I simply keep my spare money in the bank for peace of mind. If I manage to save up a significant sum, I might consider buying a small house or piece of land. But as for gold or foreign currencies—I am done with them for good.

*The opinion was translated into English with the assistance of AI. Readers’ views are personal and do not necessarily match VnExpress’ viewpoints.