Buying Gold Bullion Off Ebay?

[endgame]

CID will negotiate on coins in quantity but the price of a k bar is pretty much set in stone.

I believe that places will take back bars purchased from them without assaying them but don't know if this is guarenteed or over what period. 5 years down the line they may want to have a bar tested just in case, I don't know.

I agree that CID is the best place to buy.

I think a kilo bar that looks right, measures right, sounds right and weighs right is right. The good delivery bars that are 400 ounces or 12.5kg need a vault history or else assaying will be required but 1kg bars are judge by the dealers experience. Thats what ATS told me anyway. Thats why gold is gold, cant be faultlessly faked (except with more valuable elements)

[Avon]

What is the quality of the coins at coininvest? Their prices are quite good atm and I am tempted to buy off them.

If I am going to buy a coin I want it to be of collector grade rather than scrap if there is no or minimal price differential.

At the moment gold coins are being valued almost exclusively on bullion value so it makes sense to get the best quality which are at least satisfying to look at and hopefully will have some collector value even if the POG should drop.

Not bought any sovs from CInvest so can't comment on Sov quality, but they sell 2009 mint Krugers and I presume the 2008 + 2009 Britannias are also mint. Come in no-fuss plastic sheaths, well packaged, from Germany. They also buy back at around 40 quid less than they sell 1 ounce coins. Cheapest 1 ounce deals on pretty much all the favourites that I've seen but with Pandas, Brittanias and Krugers being particularly competitive. I'm not a collector as such but the fact that they sell newly minted uncirculated coins is the big draw for me. If I kep them along time as I plan, I like knowing I'm the first owner as it were. Just a pity they don't seem to stock 2008 or 2009 Sovs. From checkout to delivery took 6 days IIRC.

[kenny dalglish]

E BAY example : 1967 SOUTH AFRICAN GOLD 1 OUNCE KRUGERRAND - BOXED £799.00 +£6.00 postage (cut and pasted tonight )

BAIRDS Krugerrand 1oz £ 630.50

take your pick

Don't forget that gold coins also have numatistic (sp?) value as well. What I mean is that as well as taking account of their spot value, rarer or older coins sometimes have a premium. Even bullion dealers will sell older coins to you for more than more recent despite them both being just 1 troy ounce. So it it possible that the krug could be worth more due to it's age.

Small point I know.

[gotoutintime]

coininvest and hgm are generally quite close on price, atleast when compared to bairds and others but it is worth comparing them to get the best deal as they often alter in who is cheapest on the day.

hgm price their coins on the spread, they buy in below spot and sell as quickly as poss over spot for a percentage profit. Their prices do not reflect condition just the bullion. They often don't know what stock they have until the post has been opened mid morning. They don't grade or date coins just sell them so often you can get rarer dates etc for bullion price - is a lucky dip. (Only really do sovs and krugs)

Coininvest coins are priced in date ranges but again are not graded, they almost never have shield backs but do have a large stock so you can specify dates etc wanted. You have to explain requests clearly though as those answering calls are german. I ordered a number of victoria sovs, asked for earliest dates possible with a mixture of heads all pre 1900. I recieved a batch of coins all dated 1900, wasn't happy but that is the only time they have done it. (I am talking mostly about sovs and krugs which have been circulated, all other 2009 coins are unc)

Bars? I don't know, I wouldn't touch a kilo bar. Your resale avenues are limited to bullion houses who are likely to want the bar assayed (at cost) before purchasing. I should imagine that having been assayed it won't make much difference to them who made the bar. Not really my area so just assuming, why not give hgm a call and ask the procedure for selling them a 1kg bar and any price differences between manufacturer?

Thanks for your advice richyc,

I do prefer coins myself but was considering some kilo bars mainly because of the lower premiums over spot. I will call hgm and ask the question you mentioned, if not too easy I will stick with coins. I know you mentioned Sovs & Krugs but what about the US gold coins (eagles?), reason being I spend some time each year in the US and was wondering if it was any easier to sell these when I am over there?

[Number79]

Thanks for your advice richyc,

I do prefer coins myself but was considering some kilo bars mainly because of the lower premiums over spot. I will call hgm and ask the question you mentioned, if not too easy I will stick with coins. I know you mentioned Sovs & Krugs but what about the US gold coins (eagles?), reason being I spend some time each year in the US and was wondering if it was any easier to sell these when I am over there?

It will be easier to sell eagles in the states but you will be unlikely to profit on it because they cost us more to buy. Compare the prices that we pay for an eagle against kitco or apmex. I think that anything over 10k's worth has to be declared at customs on arrival.

Would be cheaper to buy gold and silver in the states and bring it back, you have to pay vat on silver but no import duty. For gold, so long as you stay under 15k then you don't have to prove anything under money laundering regs and so long as coins appear in the hmrc list of investment coins then there is no tax http://customs.hmrc.gov.uk/channelsPortalW...=HMCE_CL_000108

I stick with sovs because there is no cgt liability and krugs because they are most common and widely recognised.

Let us know what hgm have to say about bars please, is always good to know as much as possible.

[gotoutintime]

It will be easier to sell eagles in the states but you will be unlikely to profit on it because they cost us more to buy. Compare the prices that we pay for an eagle against kitco or apmex. I think that anything over 10k's worth has to be declared at customs on arrival.

Would be cheaper to buy gold and silver in the states and bring it back, you have to pay vat on silver but no import duty. For gold, so long as you stay under 15k then you don't have to prove anything under money laundering regs and so long as coins appear in the hmrc list of investment coins then there is no tax http://customs.hmrc.gov.uk/channelsPortalW...=HMCE_CL_000108

I stick with sovs because there is no cgt liability and krugs because they are most common and widely recognised.

Let us know what hgm have to say about bars please, is always good to know as much as possible.

Ooops forgot about duties and taxes on this!

I currently am a UK Expat and spend time in both the Philippines and the States, my tax residence is Philippines so no CGT to pay on gains made in UK and USA or any other worldwide income. I will have to see the Customs boys over here and see if there is any duties or taxes if I actually bring coins or bullion in to Philippines.

Alternatively, I have accounts with Citi in UK, USA and the Phils and could get a safety deposit box in each country for security.

I will give HGM a call next week and post again.

Thanks

[Steve Smith]

I was going £303 so you would have taken them anyway. Makes me feel much better knowing that I would have been outbid regardless. Now I am not so gutted, glad you got a good deal.

So your slip up saved me £35 - Thanks!

[Take Me Back To London!]

Thanks for your advice richyc,

I do prefer coins myself but was considering some kilo bars mainly because of the lower premiums over spot. I will call hgm and ask the question you mentioned, if not too easy I will stick with coins. I know you mentioned Sovs & Krugs but what about the US gold coins (eagles?), reason being I spend some time each year in the US and was wondering if it was any easier to sell these when I am over there?

Not only do I prefer sovereigns above all other gold coins, but the US military do as well as they supply their fighter pilots in their emergency packs, not with U.S. Eagles or South African Krugerrands (or fiat paper money), but with British Sovereigns!

It is mentioned here at exactly one minute into the video.

Edited July 31, 2009 by Take Me Back To London!

[Number79]

Not only do I prefer sovereigns above all other gold coins, but the US military do as well as they supply their fighter pilots in their emergency packs, not with U.S. Eagles or South African Krugerrands (or fiat paper money), but with British Sovereigns!

It is mentioned here at exactly one minute into the video.

a testiment to the sov. Our special forces are issued with sovs aswell. Sovs are issued because they are recognised and accepted the world over particularly the middle east, which is handy. I wouldn't buy sovs in the m.e though, too many fakes and copies.