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MrFlibble

Cash4Gold Highstreet Shops

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There's a new Cash4Gold joint just opened in my local town, so far I've not taken these places seriously as I know they rip people off but thought I'd call in and ask about the 'investment metals' the window suggested they sell.

I enquired about Krugerrands and was told they sell at 1.5% above the London fix. This to me seems too good to be true for a highstreet shop. Having not dealt with places like this before I'd be interested if anyone else has experience of them and knowledge about the prices they tend to sell at. I'm pretty certain they buy at a lousy prices so could offer a better sell price.

I assume the main issue here will be like buying from dealers, questions asked about name and address. They don't seem to like the answer of "I'm a gypsy called Sundance, I do not have a fixed address and neither do I have any forms of I.D." B)

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There's a new Cash4Gold joint just opened in my local town, so far I've not taken these places seriously as I know they rip people off but thought I'd call in and ask about the 'investment metals' the window suggested they sell.

I enquired about Krugerrands and was told they sell at 1.5% above the London fix. This to me seems too good to be true for a highstreet shop. Having not dealt with places like this before I'd be interested if anyone else has experience of them and knowledge about the prices they tend to sell at. I'm pretty certain they buy at a lousy prices so could offer a better sell price.

I assume the main issue here will be like buying from dealers, questions asked about name and address. They don't seem to like the answer of "I'm a gypsy called Sundance, I do not have a fixed address and neither do I have any forms of I.D." B)

3% over spot is the best that I know of so that would be a good price and like you say, massive profit for them buying at probably 25-40% of spot.

There is no requirement to provide id when buying unless you are doing more than £5k in one go. Pay cash and tell them whatever name and address you like if they ask.

This does seem a good price though, the cash converters etc around here are all way over spot. Let us know how it works out if you do buy.

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The jeweller round the corner from us always has scrap gold in the back of the shop, sometimes has gold coins. He'll sell at what he calls the 'metal price', basically spot, because all he does is weigh in everything anyway. He's a grumpy old sod, not easy to deal with and couldn't give a stuff whether he sells you coins or not. Best deal recently was when he couldn't remember the exact 'metal price' one day, couldn't be arsed to look it up and offered a 1/4oz gold maple and a 1/10oz gold maple for £264 which was about 5% below spot. Normally it's about spot price. He likes cash. Main problem is it's hard to predict what he'll have at any one time. Most times he has no coins in.

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I popped into one of my local high street cash for gold places at the weekend (can't remeber the brand), enquiring about full sovs, starting at £210 which seems very reasonable compared to most places I've looked.

At the same time they would only pay just over £700 for a full kruger so it's easy to see where their profit margins are generated, even when selling at very reasonable prices.

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  • 312 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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