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delboypass

Gold Coins - Once Bought - How To Sell

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Ok, so many people here rant on about owning Gold.

1 way might be to source your own Gold and store it yourself (to stop against online companies collapsing or your gold seized)

So i have a question:

How do you sell the Goin Bullion (coins) once you have purchased them??

Say i bought 3 Kruggerands off ebay...

how do i sell them again without making a loss

If i used ebay to sell, id lose percentage of listing, final fee and paypal + subject to highest bid ect..

so is there any other way to sell on physical gold bullion in a cheap method if you live outside of London

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Ok, so many people here rant on about owning Gold.

1 way might be to source your own Gold and store it yourself (to stop against online companies collapsing or your gold seized)

So i have a question:

How do you sell the Goin Bullion (coins) once you have purchased them??

Say i bought 3 Kruggerands off ebay...

how do i sell them again without making a loss

If i used ebay to sell, id lose percentage of listing, final fee and paypal + subject to highest bid ect..

so is there any other way to sell on physical gold bullion in a cheap method if you live outside of London

Only really two ways to sell: eBay or a gold dealer.

Personally, I have always bought from a gold dealer and sold on eBay. I find this the most cost effective way. I wouldn't take PayPal though, cheque only.

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most dealers will buy the coins from you at spot price and will not charge you any extra fees. if you're buying from ebay be aware there are lots of fake sovereigns around. i'd personally stick to a trusted dealer

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Find a bigger mug I guess. Some bloke down ya local boozer. Explain that prices only ever go up. Oh, wait..

that would be the last place to sell them !!!

if it all goes pear shape and the gold market falls, you might find the punter will see you in there one Friday night and take you outside for a "discussion" ;)

Much better going to a pub near a train station as you get lots of mugs passing through that you'll never see again............ :lol:

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Ok, so many people here rant on about owning Gold.

1 way might be to source your own Gold and store it yourself (to stop against online companies collapsing or your gold seized)

So i have a question:

How do you sell the Goin Bullion (coins) once you have purchased them??

Say i bought 3 Kruggerands off ebay...

how do i sell them again without making a loss

If i used ebay to sell, id lose percentage of listing, final fee and paypal + subject to highest bid ect..

so is there any other way to sell on physical gold bullion in a cheap method if you live outside of London

why would you want to sell them so soon after buying ?

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Ok, so many people here rant on about owning Gold.

1 way might be to source your own Gold and store it yourself (to stop against online companies collapsing or your gold seized)

So i have a question:

How do you sell the Goin Bullion (coins) once you have purchased them??

Say i bought 3 Kruggerands off ebay...

how do i sell them again without making a loss

If i used ebay to sell, id lose percentage of listing, final fee and paypal + subject to highest bid ect..

so is there any other way to sell on physical gold bullion in a cheap method if you live outside of London

What on earth do you want to buy gold for? Mugs game. There's one born every minute.

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Ok, so many people here rant on about owning Gold.

1 way might be to source your own Gold and store it yourself (to stop against online companies collapsing or your gold seized)

So i have a question:

How do you sell the Goin Bullion (coins) once you have purchased them??

Say i bought 3 Kruggerands off ebay...

how do i sell them again without making a loss

If i used ebay to sell, id lose percentage of listing, final fee and paypal + subject to highest bid ect..

so is there any other way to sell on physical gold bullion in a cheap method if you live outside of London

Please don't buy gold on ebay. One of the many genuine original 100% guaranteed Picasso or Dali 'I-sware-is-from-my-cela-im-such-a-mug-i-cant-spale' for £200 perhaps, but not gold.

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Ok, so many people here rant on about owning Gold.

1 way might be to source your own Gold and store it yourself (to stop against online companies collapsing or your gold seized)

So i have a question:

How do you sell the Goin Bullion (coins) once you have purchased them??

Say i bought 3 Kruggerands off ebay...

how do i sell them again without making a loss

If i used ebay to sell, id lose percentage of listing, final fee and paypal + subject to highest bid ect..

so is there any other way to sell on physical gold bullion in a cheap method if you live outside of London

Some of the London dealers will also give you a price, and you then post them to them (suitably insured). There will always be a significant spread on coins, so they are insurance for really dire times, rather than the most efficient way to invest in gold. Also, if you are buying coins, shop around as there can be significantly different buy and sell prices between dealers (a few pounds here or there on a sov can add up if you are trading a hundred of them). Also avoid small dealers or jewellers...in my experience they take the mick.

If you can believe the online companies, your gold is held in bailement, hence cannot be touched by their receivers if they go bust. Alternatively, if you have £5000 to invest, you can purchase Perth Mint certificates which can be converted into allocated gold (iirc). They are backed by the Western Australian government...so things would have to get pretty dire.

I'd be wary of selling on ebay without making sure a cheque had well and truly cleared.

Personally, I hold some coins, some in an online account, and also spreadbet on the price of gold.

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What on earth do you want to buy gold for? Mugs game. There's one born every minute.

Yep...mugs game...only made 70% profit over then past 2 years...yep, I'm a real mug.

What is it about people who hate gold? (or love it for that matter.) It's just another thing to invest in because other people value it.

Edited to: correct spelling

Edited by D'oh

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no bought about 3 years ago on a spur...

all right weights and dimensions for sovereigns and obviously checked out history...

I did have a negotiation of 1kg for £10,000 in those days but relucantly left it....

how much is 1kg now <_<

Still i am going to hang on to the sovereigns i have for now....

but never thought about resale at time...

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What on earth do you want to buy gold for? Mugs game. There's one born every minute.

If you were in Zimbabwe your paper is not going to be accepted. Gold is accepted anywhere in the world and can always be exchanged for goods or currency. There has never been a time or a place where gold hasn't had this property, thus it is the ultimate currency. Some argue that market traders may not accept gold, but then they wouldn't accept US dollars either, which are also a currency. This universal currency property, unaffected by economic, political, or military environments is what gives it its value.

Now you could say but it doesn't pay any interest. Yet interest rates do not cover inflation even before tax. Gold goes up, on average, with inflation. We DO have sub inflation interest rates and so holding 'stuff' instead is a good idea.

If you want to sell your gold, its no problem take them to any dealers here or abroad. You will lose as they will take a margin, but then so do all traders in anything. You don't day trade small quantities which is what coins are for.

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no bought about 3 years ago on a spur...

You idiot! You must have paid about £250 each and now they're only worth about £480 each.

Why didn't you buy shares in Barclays Bank? They've halved in price.

rofl2.gif

post-15082-1216310697.gif

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What is the risk of tungsten fakes

Apart from depleted Uranium it's the only metal to fit in the same space and volume or the same density, used for testing gold coins. According to google, plating tungsten with gold will stop x-ray fluorescence scans.

Drilling it is the only way to check, coin checkers and chemical test will all pass with plated.

Here is China doing Silver fakes

http://coins.about.com/od/worldcoins/ig/Ch...gan-Dollars.htm

Main forum on fake coins

http://www.coinpeople.com/index.php?showforum=259

Could someone in the media run a quick story, lot's of library footage of gold, info about Republic of Ethiopia gold scam, and let me know when to short.

Some scaremongering, talking heads, a scam victim etc. More pictures of gold in a vault. Job done.

Edit: add gold fakes

http://www.coinpeople.com/index.php?showtopic=7903

gallery_869_124_116374.jpg

Oh it's in the subforum, last seen in 2006

beeny-big.jpg

Edited by maxwell

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I too thought about gold plated tungsten rounds since it is almost the exact same density of gold. It would however be very easy to test with a simple AVO meter since it is nowhere near the same electrical conductivity.

gold: (20 °C) 22.14 n Ω·m

tungsten: (20 °C) 52.8 n Ω·m

copper: (20 °C) 16.78 nΩ·m

Few metals are as conductive as gold. If you start adding sufficient copper for example to get the conductivity up then then you would need so much copper that it couldn't meet the density requirements.

You could use thermal conductivity, which gold is also good at in the same way. You could even use the induced currents that metal detectors use to distinguish buried metals. What you are doing is testing the whole cross section and not a surface effect.

If you are testing coins that have numismatic value then its a whole different ballgame. These can be produced from the true metal since its the rarity you are paying for.

Edited by thod

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I too thought about gold plated tungsten rounds since it is almost the exact same density of gold. It would however be very easy to test with a simple AVO meter since it is nowhere near the same electrical conductivity.

gold: (20 °C) 22.14 n Ω·m

tungsten: (20 °C) 52.8 n Ω·m

Would the current be low enough to avoid damaging the coin, you could make a mint from a small device combining volume mass/weight/density and conductivity.

Is it patented?

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You wouldn't damage the coin we are not talking car battery currents these things use tiny currents and can be bought for a few pounds from any hardware store. I am surprised you need to ask, I have one in my toolbox, they are as common as a set of pliers. (AVO meter = mulitmeter = http://en.wikipedia.org/wiki/Multimeter)

I guess if you were wanting to test a coin you would have basic electronic scales to place the coin on and measure its mass, you would use the electrodes as calipers to measure the diameter and conductivity. The most obvious way of measuring volume is to place it water and measure the volume of fluid displaced but calipers will do fine.

I have no idea if such a device exists or it could be patented.

Edited by thod

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You wouldn't damage the coin we are not talking car battery currents these things use tiny currents

So checking a coin using a multimeter, where it is a thick (enough to profit massively from it) gold plated tungsten form, would show a fake from pure gold. Assuming 99.9% for gold to make it easier.

The aim being to create a fake that would pass this test.

Edit:

Quoting from http://www.boingboing.net/2008/03/17/how-t...e-fake-gol.html

However, the big giveaway would be electrical conductivity. Gold has a conductivity of 4.52e5/ohm*cm, while tungsten is only 1.89e5/ohm*cm.

You'd need a heck of a lot of current to measure a resistance that small, but the difference is quite significant.

Edited by maxwell

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However, the big giveaway would be electrical conductivity. Gold has a conductivity of 4.52e5/ohm*cm, while tungsten is only 1.89e5/ohm*cm.

You'd need a heck of a lot of current to measure a resistance that small, but the difference is quite significant.

The sensitivity of the meter is whats important.

If you wanted another way you could use the speed of sound which is very different for the two metals. A transducer and detector setup would do it. You would also get some very strange reflections at the metal boundary.

Take 2 coins and place them touching on the table top. Press down on one so it cannot move. With our hand flick a third coin into contact. The other coin will spring away. Metals are elastic and the coin you are holding deforms into an ellipse before spring back into shape projecting the coin away.

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surely the same can be said about money

but no matter how many notes ive had threw my hands i wouldnt be able to tell a fake note or not.

and i doubt the shop assistant would either

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You could also try making the coins ring and listen to the sound they make. Silver is well known for its tone. Musical instruments are made from silver, at least the high end ones. For example spin a suspect coin on a glass table top and compare it to the sound of a known coin. Tungsten would sound quite different to gold. Tungsten fakes are very rare if at all existent.

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You could also try making the coins ring

...

Tungsten fakes are very rare if at all existent.

You are so right, it would ring completely differently.

Nobody has found tungsten fakes yet because the metal is just too hard to work with and gold is still too cheap. Try stamping tungsten in the same way that a coin is made and it will destroy the stamp mill after a few rounds have been through it. The only way to do it would be to use a tungsten core with a gold bonded outer shell that could be stamped. A setup that can do this would be costly, it would have to produce a lot of fake coins to make it worthwhile or the price of gold would have to be far higher.

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You wouldn't damage the coin we are not talking car battery currents these things use tiny currents and can be bought for a few pounds from any hardware store. I am surprised you need to ask, I have one in my toolbox, they are as common as a set of pliers. (AVO meter = mulitmeter = http://en.wikipedia.org/wiki/Multimeter)

Impossible. The coin would have resistance in the order of microOhms. Way less then resistance of leads or contact patches. You'd need exceptional precision to differentiate resistances of gold plated and solid gold coins.

What does make sense is balanced resistive Wheatstone bridge and a confirmed true gold coin to balance the bridge with and then swap it out for tested sample. Still, the difference could be too little to detect.

Alternatively, if the coin dissolves in Aqua Regia, then it was true gold. :)

Edited by refusnik

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  • 399 Brexit, House prices and Summer 2020

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      • down 5% +
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