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john mitchell

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Everything posted by john mitchell

  1. Gold has absolutely rocketed this afternoon, as it stands it's at 799 which is about 45 bucks up in one day - a massive move by anyone's standards. With sterling down in the doldrums it must be a record high in sterling at £538 ? Time to get out the rockets...
  2. So the Brits have gone from £569 to £613.00 on goldline.co.uk (as at now, 4.15pm and still rising) Thats a gain of £44 per coin in one day!!! This is nuts, what's going on out there, anyone know why gold is rocketing?
  3. Blimey I'm a guru - If you'd bought a Brit when I said, you'd have been paying £25 less than they are now. Gold has rocketed since yesterday!!!
  4. Yes, confirmed as I just spoke to them (goldline.co.uk), 2008 Sovereigns are all sold out! Apparently there has been another surge in buying today as the stock markets are plunging (which always provokes a flurry of gold buying) which usually signals a surge upward in the gold price... They still have 1 oz Brits and Krugers but are selling out fast allegedly.
  5. Bad news, I think they've sold out of the 2008 Sovereigns already because they're not on the front page anymore! Blimey that was quick...
  6. Baird and co (goldline.co.uk) has a decent stock of coins back in, was having a long chat with my usual man there today after looking at the website. They have the following coins cheaper than coininvestdirect (who annoyed me), and actually have the coins as compared to ATS and Chard who have sweet f**k al I wrote the list down but I couldn't be arsed to write the prices so you'll have to get them yourselves... 1 oz Britannias - capital gains tax free, definitely a bargain and coming straight from the mint. I shall be loading up on these. 1 oz Krugerrands - rather overpriced in my opinion but rarer than rocking horse shit at the moment 2008 Sovereigns - capital gains tax free also but pricier than Brits Austrian 4 ducats - a very thin austrian coin Austrian 100 coronas - chunky, ugly Hong Kong 1000$ - 90% only, pretty-ish Mexican 50 pesos - lovely chunky coin, but again 90% Various Iranian Pahlevis - like these Chinese 1/4 pandas in plastic capsules - (got a couple of these, v nice) Various £5 and £2 pieces (i.e 5 x sov or 2 x sov) - hate these, boring and expensive Swiss 20 francs - boring 1 oz Pandas You may mock us goldbugs Bertie Wooster, but I love my collection of shiny coins, so KISS EM!!!
  7. Further to my last post re: gold coins shortage, Baird and Co. (http://www.goldline.co.uk) now have some 1 oz Britannias in stock. As it says on the website they are capital gains tax free, whereas the krugers, Maples bars and indeed everything else are not exempt. This is because they are coins of the realm with a face value on them. The last time they had some I failed to buy a decent quantity, they sold out in a week and I regretted it somewhat, I think they will sell out pretty quickly. Pity the pound is down so far or they'd be a bargain at these dollar levels!
  8. You can avoid VAT on silver with an unallocated account, they offer it at Baird and Co, bought a decent sized amount for the first time when silver tanked recently. I reckon silver is looking very cheap right now. Speads on Baird's account is much better than Goldmoney and buy my coins there anyway so went with them.
  9. I buy from Baird & co. http://www.goldline.co.uk they are the only bullion dealers who actually refine gold and make their own bars, so they have had a consistent supply of bars throughout this drought in physical bullion, although the waiting list has been long. They are reputable, I've dealt with them many times and I was happy to wait. Spoke to them again today and (shock horror) they have coins!!! Very limited stocks of 1oz Maples, Krugers and 2008 Sovereigns are arriving next week and they are a lot cheaper than some of the other prices I've been quoted (coininvestdirect and ATS are far more expensive). I'm down for some maples, bought at £532. I'd grab a few whilst the gold price is so artificially low...
  10. Spoke to my usual man at Baird and co, finally they have some bullion coins in stock after having sold them all in the October rush!! Looks like an excellent buying opportunity as gold is down in the dumps and still no bullion dealers have a decent supply at acceptable prices. Goldline.co.uk prices are much cheaper than coininvestdirect at the moment who are extortionate for some reason (plus had a bad experience with coininvestdirect so don't use them anymore, see previous posts), so I don't think they will be around for long. As of now they have: 1 oz Maples - £534 1 oz Krugers - £534 2008 Sovereigns - £136 I've already secured some of the Maples, I think this is a good time to buy the coins, the goild price is so depressed at the moment. It simply isn't right that the gold price is down in the doldrums when bullion dealers globally don't have any flipping coins!!! What's going on? I'll keep buying physical whilst the price is low and whilst I can still get the coins....
  11. I'v bought from several of the sources mentioned above and my advice is to avoid ebay. I have bought a few mixed lots of sovereigns from ebay back in the summer last year 'cos they were cheaper than my usual bairds / ats bullion source and decided to liquidate a few in hatton garden, only to be told that several of them were fakes (i.e they were real gold but not real sovs). I thought they might be trying to rip me so instead I went to get a second opinion and unfortunately they spotted the same ones as fakes. grrrr... still got the buggers. So ebay is a no-no for me. Coininvestdirect appeared on my radar recently and I was impressed by their range, in fact they are cheaper then bairds (aka goldline) on some coins and cheaper than ATS on most. Bars are cheaper at Bairds cos they are a proper refinery, some people don't like the bars but doesn't bother me... personal choice I suppose. In fact Bairds pay higher in my experience for their own bars than coins which is worth considering. However, went for the ozzie nuggets from coininvestdirect, took my cash by BACS and didn't hear anything for over a week, then told the coins were unavailable. Most unsympathetic woman on the phone when I rang to complain, not much of a clue about coins or at least unwilling to share her knowledge with me, clearly a bit of a stooge.. was bloody annoyed as she kept telling me to take the Maples instead when I really wanted nuggets. Took the bait, coins arrived promptly but were a bit scratched and generally shitty so slightly upset, but bullion coins not collectable so whatever. Against my best judgement tried again with them on some 1 oz Eagles, this time delivered very quickly but again shitty quality and on the day they arrived goldline finally got some in... b*ll*x should have stuck to them or trekked down to the savoy (ats)! My advice stick to ATS or Bairds, they are long established and I've never had a bad experience with either. Coininvest have a flashy website but they are flakey.
  12. The building in question 'elektron' (?!wtf) is a hideous monstrosity if ever i saw one. The dlr passes only inches from the windows so all the commuters can see you having your morning sh*t, and the balconies overlook the massive roundabout that chucks up fumes 24 bloody 7. You'd have to be nuts to live there. Also mentioned above is the royal docks area which also has its apalling westgate developments and also capital east and all that sh*te. If you look on the lettings sites you will see there must be 25 ads for for flats in these buildings, starting at an extortionate 250 per week. Anyone who knows the E16 area will understand how socially deprived and dangerous it is for the most part, and I'm not surprised that no bugger wants to rent them. But in that case why the hell are prices not coming down if the estate agents can't rent them... somethings gotta give
  13. I fully agree on this. foxtons are notorious for massively inflating their expected selling prices to get the business, I hope they get what they deserve but I bet they won't...
  14. I'm pretty new to all this myself and admit I'm shit-scared of being burnt and rely on the advice of my knowledgeable friends, but from what they've told me Bullionvault potentially comes under the category of 'funny money paper investments' as you so succinctly put it. Two of my mates (who I trust implicitly as they're at the top of their respective fields and are a lot older and wiser than me) did some sums one day and decided there was something highly suspect about the Bullionvault set up 'cos if they truly offered what they say they offer at the rates they advertise then they wouldn't make any money. They told me not to trust any large lumps with them as they've only been around for a couple of years and are totally unregulated. I don't know anything about goldmoney yet 'cos I havent got that far so I can't comment on them, but I will ask my friends to get their calculators and detective hats out for them aswell and post any findings of interest. Does anyone have an opinion on Baird's allocated accounts 'cos although their name comes up all the time in respect to physical theres not much about their accounts so opinions please? Their website says they've been around since the sixties which reassures me a little in advance and my friends say they are reputable so Ive asked to be sent a brochure and will report any info. Another point of interest, I recently I went to a small local jewellers who happens to stock a few coins aswell to buy a sov for my niece's b'day and had a chat with the bloke in there. The name Bullionvault came up in conversation and he showed me a ciopy of moneyweek where the founder of Bullionvault wrote an article where he said something about the value of your gold being instantly reducued as soon as you take physical posession of it yourself due to the risk that you might have tampered with it or something like that. The jeweller told me this is nonesense and that he is pissed 'cos some of his more wealthy elderly customers read money week and came in the next day with the article worried that the coins they had stored up over the years would be unsaleable cos they had held onto them for a while. It all sounds a bit odd to me and I didn't have time to read the article in depth whilst in the shop but he was certainly pissed off and called the MD of bullionvault a 'slimy little c**t' and he's normally quite mild mannered. I don't know what to read into this but I thought I should add it as an aside, and it's interesting that moneyweek decided to print such a thing if it is in fact untrue. Comments on this?
  15. Im new to this but I know for a fact that this is not true at all as I've had it explained to me in some depth. There is no reporting done because there is no-one to report it to! If you buy more than 5k worth in a year you need to provide the dealer with some ID only because you may turn out to be a crook and if the police / customs have to start an investigation they wilol go to the dealer and ask for details of the transaction. When you submit yo0ur ID its still totally confidential and no-one needs to know about it. It's only if you turn out to be a crim then the dealers have to cover themselves by being able to identify you to the authorities so they don't get done for being part of a scam. The dealers simply wouldn't be able to make any money if they had to disclose their customer's names and their purchases because half of their punters are desperate to be discrete. So essentially if you want to be anonymous its still fine to provide ID but just don't commit any fraud 'cos then the dealer will have to reveal you.
  16. Holy sh*t was anyone watching silver this week? It plummeted like crazy, I've never seen anything like it, though admiteddly I'm far from being an expert. Had an interesting conversation with someone in the biz who told me that they've had hundreds of their regular gold customers buying silver because they think that the drop is some freak event and so they're all flopping in whilst gold remains utterly unpredictable for the time being. Apparently the scrap silver traders are sh*ting themselves and don't know what to do hahaha... I haven't watched it too closely 'cos I was away but it seemed that spot gold went up to 335 ish at one point before falling off 4 pounds an oz in matter of minutes at the end of the day on wednesday / thursday? Have I got this right? ETF dumping at 335? Havent had a chance to look at the numbers yet, heard this secondhand so could be bullsh*t. Also interestingly, before going away I was offered 5 quid under gold by a dealer for a few krugers I was trying to cash in (cash flow problems, don't ask) which is far higher than the 10 pounds under gold that I've usually sold at. It seems that for thye first time in years the coin delers are struggling to buy any and they're desperate for them as they have no stock! They've got shedloads of new customers who don't have a clue about gold and are desperate to get some security via the good old yellow stuff and no-one is selling them back to them! There must be some overflowing matresses out there somewhere 'cos there's hardly any Krugers / Sovs in circulation at the moment.... Meanwhile the FTSE shoots up 200 points after tanking all week 'cos those Fed pussies lose their nerve and cut the rate? WTF? Last time I go on holiday during the silly season. B*llox to it all im clueless...
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