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bluesteve

Gold On E Bay

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whats people opinion about buying gold on ebay, there seems to be a lot of people getting rid of it.

I m not the one to use thousands of words when one sentence will do!

Are we talking useless stuff like jewellery here or pure unmolested pieces of the yellow stuff?

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My understanding of investing in gold is that you buy X amount from an official gold dealer and get a certificate of ownership. But the gold is kept in a safe on your behalf by the dealer. You don't put it in a Tesco carrier bag and take it home on the bus. Clearly I'm prompting some humour here, so perhaps a clearer explaination of what happens to this gold on eBay after it's been bought would be helpful. I'd like to see the page. Can anyone give me a link or an item numer? I can't seem to find it by searching.

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You don't put it in a Tesco carrier bag and take it home on the bus. Clearly I'm prompting some humour here, so perhaps a clearer explaination of what happens to this gold on eBay after it's been bought would be helpful.

generally they stick it in a jiffy bag and send it to you.

best to stick to established dealers initially - though as a poster pointed out sometimes you can pick up bargains from less clued up sellers - but always check out the prices on goldline.co.uk or similar as often you can buy at around the same price without any of the associated risk.

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generally they stick it in a jiffy bag and send it to you.

best to stick to established dealers initially - though as a poster pointed out sometimes you can pick up bargains from less clued up sellers - but always check out the prices on goldline.co.uk or similar as often you can buy at around the same price without any of the associated risk.

Yeah, I'd be very inclined to do plenty of research first and feel more inlined to deal with proper gold dealers. The idea of £1000 worth of bullion coming to me in a jiffy bag doesn't inspire much confidence!

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Yeah, I'd be very inclined to do plenty of research first and feel more inlined to deal with proper gold dealers. The idea of £1000 worth of bullion coming to me in a jiffy bag doesn't inspire much confidence!

you usually would choose to get it sent via a method of post that insures the amount of losses - such as registered post.

Some of the dealers on ebay are established jewellers that also have independant shops & websites etc - and often people get a bit carried away and bid more than they could buy it for directly.

Definitely a good idea to get a pair of electronic scales (cheap) & have a couple of known good coins as a benchmark before going bargain hunting though - also watch out for less than reputable sellers that will put up a lovely advert with a small picture of a 1/10 ounce krugerrand and just refer to it as a 'kruggerand' (implying a standard 1 ounce)- I've seen a couple of those pop up recently.

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Gold is posted informally because that is the safest way to send it - just another little jiffy bag amongst all the millions that the GPO deal with. This is how the dealers send it, and they always have (there's quite a good Desmond Bagley novel about this, but I can't recall the title). I would do the same if I were selling gold on eBay. Unless you are buying very large amounts of bullion you won't get any certificate from a dealer, just the coin. You can't fake gold. Once you have handled real bullion coins you can't be fooled by fakes, for there is nothing else with the density of gold that is not worth just as much (depleted uranium being a possible exception, but I've never heard of a depleted uranium scam).

You need to remember that gold is remarkably compact. Three gold 1 Oz coins are now worth >£1,000 yet can be posted in a little box.

As gold ownership becomes commoner we have to expect that scams will increase, so do be careful. Most of the folk selling gold on eBay have very well-established reputations and will not want that tarnished by sending you spray-painted lead even by accident. I should think you'll be all right provided you stick to the better-established sellers.

Note: NEVER get bullion delivered to your home address.

Edited by malco

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anyone know where to get a good set of scales from??

probably need to weight to 0.01g.

Does asda/tesco or any big supermarket do these for knock down prices??

Camden market. YOu will probably get a free packet of king skins to go with them too.

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anyone know where to get a good set of scales from??

probably need to weight to 0.01g.

Does asda/tesco or any big supermarket do these for knock down prices??

have you tried searching on ebay for "scales 0.01" ?

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You could always try http://www.goldline.co.uk/

There was a thread about this a while back. One of the conclusions, I think, was that you could buy from here and sell on ebay at a profit without ever taking delivery.

What's more, you'll sleep soundly knowing it will come.

There are some scoundrels on ebay, so when you're dealing with something like gold you've got to be very careful - particularly if the seller is operating from abroad. Obviously accept nothing from that terribly polite chap who has to offload twenty million tonnes on behalf of the Nigerian High Command and just needs someone to take delivery. Also worth noting is that a lot of the rip-off merchants seem to operate from Italy. Don't know why that is, but it is, or was a few months back, so be doubly careful with 'dealers' based there.

And speaking of dealers, Mr Nice is right: Camden Market is just the place to get your scales. Or failing that type cannabis seeds or similar into Google and a host of Amsterdam head shops will come up. (Unless you are in China in which case BLOCKED SEARCH or similar will be the result). They - the head shops not the Chinese - will all sell high quality electronic scales ideal for use by the small time cocaine or gold dealer.

BTW an interesting stat which gives you an idea how much South American drug barons and their associated terrorists are worth: a gram of cocaine on the street costs about £50. A gram of gold considerably less. Draw your own conclusions. Unfortunately, there are no graphs available on Kitco that show the gold-to-cocaine price ratio, but with cocaine showing support at £45 and resistance at £60 and gold at $562 to 572, my Elliot Wave analysis suggest that we are on a 3rd wave of a B trend. However, if the US government attacks gold in the same way they did cocaine in the early part of the Twentieth Century, we will see initial downturn followed by a sharp spike upwards. All IMHO, DYOR etc

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I've bought a fair amount on ebay - I just check it regularly and sometimes pick sovereigns up for under spot price from clueless sellers.

got nothing to do with clueless sellers, the item is bid to what the market will pay.

ive sold half sovereigns for 36 pounds and the same for 60 pounds in the last couple weeks.

i dont set the market the buyers do

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got nothing to do with clueless sellers, the item is bid to what the market will pay.

ive sold half sovereigns for 36 pounds and the same for 60 pounds in the last couple weeks.

i dont set the market the buyers do

sorry - I meant I tend to get them from buy-it-now items, so the price is set by the seller, and if the price is below spot then I'll buy it.

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got nothing to do with clueless sellers, the item is bid to what the market will pay.

ive sold half sovereigns for 36 pounds and the same for 60 pounds in the last couple weeks.

i dont set the market the buyers do

Really bad (or no) photos help to put buyers off too

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  • 301 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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