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Tesco Enters Gold Exchange Business By Offering Cash For Gold

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Tesco will begin offering mortgages later in 2011. I wonder how competitive their mortgage arm will be.

I think the gold angle is interesting. Depending upon your POV Tesco is doing this because they can seel big profit in doing so... or that this is just another sign of a bubble about to go pop.

It is seen as the preserve of backstreet pawn shops and daytime TV adverts, but now selling your gold could become as commonplace as your weekly grocery shop.

Tesco has added to its ever-increasing range of services by launching its own Gold Exchange and is seeking to take customers' unwanted trinkets off their hands.

The nation's biggest retailer is seeking to put a golden sheen on a market that has been the subject of investigations by the Office of Fair Trading.

Read more: http://www.dailymail.co.uk/news/article-1343598/Tesco-enters-pawn-business-paying-customers-unwanted-jewellery.html#ixzz19ze29TBC

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Tesco will begin offering mortgages later in 2011. I wonder how competitive their mortgage arm will be.

I think the gold angle is interesting. Depending upon your POV Tesco is doing this because they can seel big profit in doing so... or that this is just another sign of a bubble about to go pop.

Read more: http://www.dailymail.co.uk/news/article-1343598/Tesco-enters-pawn-business-paying-customers-unwanted-jewellery.html#ixzz19ze29TBC

So we'll have cornflakes priced in grams soon?

...or Thous?? ........ thousandths of a gram......(2.9p in dead money).

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I think the gold angle is interesting. Depending upon your POV Tesco is doing this because they can seel big profit in doing so... or that this is just another sign of a bubble about to go pop.

By what reckoning does ordinary punters being encouraged to flog their assets cheap = a bubble?

Genuine question.

edit: bad typing

Edited by Mugwump Boy

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This is the opposite of a bubble sign (gold is not a bubble anyway).

When we see Tesco selling gold coins etc then we may have signs of mania. What we have here is Tesco taking 'old' gold (lol) from ignorant people.

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By what reckoning does ordinary punters being encouraged to flog their assets cheap = a bubble?

Genuine question.

edit: bad typing

Its the Elites withdrawing a means of public monetary exchange before they force you to take the BIBLICAL chip in your hand/forehead as the only way you are allowed to buy or sell.

They have already trialled it on 'damned' ignorants in all inclusive Hotels in Cancun (buy drinks at bar with microchip inserted in their hand etc) - "The seat of the Serpent"

Don't accept it - read the Bible!

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Its the Elites withdrawing a means of public monetary exchange before they force you to take the BIBLICAL chip in your hand/forehead as the only way you are allowed to buy or sell.

They have already trialled it on 'damned' ignorants in all inclusive Hotels in Cancun (buy drinks at bar with microchip inserted in their hand etc) - "The seat of the Serpent"

Don't accept it - read the Bible!

You're meant to ingest the pills - not stick them up your ****. Didn't you read the label?

Edited by Alan B'Stard MP

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I think the OP was comparing one of the most sucessful retailers of all times to the legendary shoeshine boy.

Tesco head office Tesco House, Delamare Rd, Cheshunt, Waltham Cross

Original shop opened by a Jew in BURNT OAK

Ches-Hunt

Chesed in Hebrew means (loving) kindness - exactly the opposite of what Tesco 'offers' whilst winning HERTS and minds!

National supermarkets wreck local economies, destroys competiton + jobs, dumb-down local skills as well as suck Billions in profits out of local economies down to their Herts 'HEAD' office to be given to which major shareholders?

Herts is riDDled with Masons - their Baghdad!

origin of the name Baldock is a derivation from the Old French name for Baghdad: Baldac

Hence TV proxy-symbology for name Bald-rick!

Recent proxy-Crusades etc against Baghdad! They were right!

"Friday night's air strikes on targets near Baghdad were cleared by Tony Blair and George Bush after requests from military commanders" (B+B=22)

Tesco is only allowed to be so suCCesful due to duplicity and downright deviances perpetrated against UK citizens!

Edited by erranta

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This guy makes an interesting observation...

Vice versa, if gold prices star to drop and we start to see a lot redemptions, shares come in and trucks of gold go out, and then people have to do it like that. So even if we do get discounts, that could get into the 3% to 5% range; one, it will be temporary. And two, I'd also like to remind viewers that managing the kind of discounts you'll see if you take your suitcase of gold to Wabash Avenue and try to turn it in, you won't be getting discounts at 3%, you'll be looking at 30% to 50%. Because that's what happened in the 80s and that's how those folks get rich in those kind of downturn.

http://www.morningstar.co.uk/uk/news/article.aspx?articleid=94564&categoryid=13

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...yet another case of the rich stealing from the poor, they should be ashamed of themselves. :(

How are they stealing Winkie? According to you gold is a mugs game, the lucky plebs will be able to offload their gold at record prices and let Tesco's take the hit. A victory for the common man surely?

Personally I think I'll wait until the checkout assistant asks me if I want 'gold back' with my groceries before I sell my stash :ph34r:

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...yet another case of the rich stealing from the poor, they should be ashamed of themselves. :(

The poor are not doing themselves any favours by being uninformed retards raising the next generation of uninformed retards on a diet of junk food and Sky.

The labour movement leaders of 100 years ago would be ashamed if they could see what happened to the working class.

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Just another market that Tesco sees a profit in. As I stated on another thread, they'd sell crack cocaine if they were legally allowed to.

Nip down to good old Tesco, give them granny's old engagement ring and pocket a few quid. So much more trustworthy than one of those nasty little Cash for Gold averts...

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...yet another case of the rich stealing from the poor, they should be ashamed of themselves. :(

Maybe they are just getting ready for the currency crash the gold hoarders have been expecting, my need to take the family jewels to the tesco pump to fill up anyway soon the way things are going? :lol:

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Tesco head office Tesco House, Delamare Rd, Cheshunt, Waltham Cross

Original shop opened by a Jew in BURNT OAK

Ches-Hunt

Chesed in Hebrew means (loving) kindness - exactly the opposite of what Tesco 'offers' whilst winning HERTS and minds!

National supermarkets wreck local economies, destroys competiton + jobs, dumb-down local skills as well as suck Billions in profits out of local economies down to their Herts 'HEAD' office to be given to which major shareholders?

Herts is riDDled with Masons - their Baghdad!

origin of the name Baldock is a derivation from the Old French name for Baghdad: Baldac

Hence TV proxy-symbology for name Bald-rick!

Recent proxy-Crusades etc against Baghdad! They were right!

"Friday night's air strikes on targets near Baghdad were cleared by Tony Blair and George Bush after requests from military commanders" (B+B=22)

Tesco is only allowed to be so suCCesful due to duplicity and downright deviances perpetrated against UK citizens!

Sometimes I just wish we still had CGNAO and Injin. I could sort of understand their ramblings.

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Tesco head office Tesco House, Delamare Rd, Cheshunt, Waltham Cross

Original shop opened by a Jew in BURNT OAK

Ches-Hunt

Chesed in Hebrew means (loving) kindness - exactly the opposite of what Tesco 'offers' whilst winning HERTS and minds!

National supermarkets wreck local economies, destroys competiton + jobs, dumb-down local skills as well as suck Billions in profits out of local economies down to their Herts 'HEAD' office to be given to which major shareholders?

Herts is riDDled with Masons - their Baghdad!

origin of the name Baldock is a derivation from the Old French name for Baghdad: Baldac

Hence TV proxy-symbology for name Bald-rick!

Recent proxy-Crusades etc against Baghdad! They were right!

"Friday night's air strikes on targets near Baghdad were cleared by Tony Blair and George Bush after requests from military commanders" (B+B=22)

Tesco is only allowed to be so suCCesful due to duplicity and downright deviances perpetrated against UK citizens!

So now we know what happens when you drink de-icing fluid............ :D

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Guest spp

I think the gold angle is interesting. Depending upon your POV Tesco is doing this because they can seel big profit in doing so... or that this is just another sign of a bubble about to go pop.

Live in hope TMT. So you can't eat Gold? Well you can certainly exchange it for food in Tesco ;)

In other news...Is the World’s Richest Man Getting Into Silver?

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Gold chains and stuff are 50-80% over the spot price of Gold (before VAT), then you can sell them to Tescos

in this case for 30% under.

Gold coins may be 5% to buy and 5% to sell.

Jewelry doesn't hold it's value very well for mass market stuff.

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Tesco will begin offering mortgages later in 2011. I wonder how competitive their mortgage arm will be.

I think the gold angle is interesting. Depending upon your POV Tesco is doing this because they can seel big profit in doing so... or that this is just another sign of a bubble about to go pop.

Read more: http://www.dailymail.co.uk/news/article-1343598/Tesco-enters-pawn-business-paying-customers-unwanted-jewellery.html#ixzz19ze29TBC

Thank you madam your shopping bill comes to YOUR WEDDING RING and Your HUSBAND FRONT GOLD TOOTH. :lol:

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Tesco prices for customers' gold compare favourably with their competitors, with an offer of £7.81 a gram for 9-carat gold.

At that price nothing has to happen to the official gold price for Tesco to make money - and if the official price drops they just ratchet down their customer offer accordingly. Looking at some of the gold prices being offered elsewhere it looks like they're "all in it together".

Mind you likely they're hoping for a bit of a windfall as well in due course.

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The question is, if the herd is offloading (at well below value rip-off prices to boot) why isn't the price going down? The gold would reach the market somehow through these gold4cash operations. Where is all this gold going if not to market?

The public demand for investment gold is small - survivalists, niche political circles, those who are "awake" to gold. This isn't a shoeshine boy moment at all.

Edited by Britney's Piers

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  • 312 Brexit, House prices and Summer 2020

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      • down 5% +
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