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The Iced Coffee Hour

“Dont Buy Bitcoin!” Why ‘The Rich’ Are Buying Gold, Diamonds, and Jewelry | TraxNYC

The Iced Coffee Hour

Graham Stephan/Jack Selby

Business, Entrepreneurship

4.4790 Ratings

🗓️ 17 August 2025

⏱️ 108 minutes

🧾️ Download transcript

Summary

Noble Gold: Get your FREE Gold & Silver Guide at https://noblegoldinvestments.com/iced/ NetSuite: Download the CFO’s Guide to AI for FREE at https://netsuite.com/iced ZipRecruiter: Try ZipRecruiter for FREE at https://ziprecruiter.com/ICH ZocDoc: Go to https://www.zocdoc.com/ICED and download the Zocdoc App for FREE Follow TRAXNYC: On Youtube -    / @traxnycdiamondjewelry   On Instagram -   / traxnyc   X - https://x.com/TraxNYC Apply for The Index Membership: https://entertheindex.com/ Add us on Instagram:   / jlsselby    / gpstephan   Official Clips Channel:    / @theicedcoffeehourclips   For sponsorships or business inquiries reach out to: tmatsradio@gmail.com For Podcast Inquiries, please DM @icedcoffeehour on Instagram! Timestamps: 00:00:00 - Intro 00:01:08 - Craziest thing Trax made from gold 00:02:51 - Do you always carry gold? 00:03:34 - Why he chose jewelry business 00:07:12 - His "lightbulb moment" in business 00:10:08 - Red flags of theft 00:13:52 - How he ended up in debt 00:15:27 - Sponsor - Noble Gold 00:16:45 - Early spending habits 00:20:33 - What set him apart 00:21:23 - Does jewelry business attract greedy people? 00:22:44 - People faking wealth 00:29:55 - Wealth levels & jewelry taste 00:32:51 - Sponsor - NetSuite 00:35:39 - Buyers who don’t ask price 00:37:56 - Cultural negotiation styles 00:39:21 - Best way to negotiate 00:41:02 - Biggest negotiation mistakes 00:42:36 - Gold as an investment 00:43:47 - His inventory appreciation 00:45:20 - Why people don’t know gold prices 00:58:10 - Where he buys gold 01:01:34 - How to verify real gold 01:02:21 - Taxes & giving away gold 01:03:05 - His most expensive giveaway 01:03:07 - Sponsor - ZipRecruiter 01:03:58 - Sponsor - Zocdoc 01:05:56 - Does strong gold market hurt business? 01:09:13 - Gold price in 5–10 years 01:10:32 - How much gold should you own 01:13:03 - Getting scammed with fake jewelry 01:14:00 - Why watches are getting popular 01:15:30 - Best watches to buy 01:19:13 - Worst watches to buy 01:19:39 - Clone watches 01:20:33 - Overpriced luxury brands 01:21:20 - Lab-made vs real diamonds 01:24:47 - Getting women’s attention right vs wrong 01:31:38 - Immigrant view on America being "hard" 01:33:08 - Next big thing 01:34:25 - People’s Court experience 01:37:55 - Rapid fire questions 01:39:17 - How social media grew his business *Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available. Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0

I'm no tech genius, but I knew if I wanted my business to crush it, I needed a website now.

0:05.8

Thankfully, Bluehost made it easy.

0:07.7

I customized, optimized, and monetized everything exactly how I wanted with AI.

0:12.4

In minutes, my site was up.

0:14.0

I couldn't believe it.

0:15.2

The search engine tools even helped me get more site visitors.

0:18.3

Whatever your passion project is, you can set it up with Bluehost. With their 30-day money-back guarantee, what do you got to lose? Head to bluehost.com. That's B-L-U-E-H-O-S-T dot com to start now. You have to be competitive and vicious. I'm going to lose my fucking mind, so please be careful, bro. You give away a lot of gold on your channel. Yeah, I gave away. I'm going to give away more. Each one of these ounces is two grand. Let's see if somebody wants it for free. Free sample of tracks back? Anybody, please. Why do you think that people on the street are so clueless about the price of gold? People should be like angels, but forget about what they should be doing. Money is a game and everybody's responsible for playing it smart. I want to go. Now, when you were doing your business, how did you end up in debt? Credit card fraud and theft. How much debt did you get in? A couple of million. I was a young kid. They took advantage. I didn't know that people could be evil. You look a little skeptical. I mean, you don't believe my story? I believe your story. It's just surprising. Get the f-out of here. Gold is about trust. Can you trust the federal government? If you watch the gold price, it's always about what's actually happening. That's when it comes into play, because then you're going to need a currency system that's backed by something and measured by something.

1:29.0

And the question then becomes is not how many dollars you have is how many grams you have.

1:38.6

Well, I'm curious. What is the craziest thing that you've made out of gold?

1:42.6

Well, I make a lot of crazy figurines, right?

1:45.3

You know, like I made the baseball and a bunch of other figures.

1:48.8

But right now I'm trying to make the Indiana Jones, you know,

1:52.5

when he's switching that bag of dirt for that big gold head.

1:55.6

Yeah.

1:56.1

That is going to be, though, about 10 kilograms of gold.

2:01.5

There's a lot of low-hanging fruit in making crazy things out of gold.

2:05.5

Can you curse on this podcast?

2:06.7

Yeah, sure.

2:07.0

Crazy shit out of gold.

2:08.2

You know what I'm saying?

2:09.0

Oh, and also a reminder, if you want to see this episode and future episodes early, completely uncensored,

2:14.1

you can join the membership as well.

...

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