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A "Best Buy Guide" for gold on MSE.
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DiggerUK
Posts: 4,992 Forumite
It will seem obvious to many that there are a lot of sharks in the "We want your gold pond"
I think it is in the tradition of giving MSEistas best advice that we should have a section that gives the top 10 payers for *gold.
It would give people a good guide to what they should expect on their local high street as well.
*Edit, scrap gold.
I think it is in the tradition of giving MSEistas best advice that we should have a section that gives the top 10 payers for *gold.
It would give people a good guide to what they should expect on their local high street as well.
*Edit, scrap gold.
MSE should have a best price guide for our gold. 17 votes
I see no value for such a guide on MSE.
23%
4 votes
It is a guide MSE should provide, yes please.
76%
13 votes
0
Comments
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http://www.telegraph.co.uk/finance/personalfinance/investing/gold/6816806/Jacqui-Smith-calls-for-cash-for-gold-websites-to-be-regulated.html
If Jacqui Smith is calling for regulation of the gold sharks, you can guarantee that nothing is going to be done to protect the public.
I still hope to persuade MSE to organise a "Best price for your *gold table"
Please post and vote.
*Edit, scrap gold.0 -
There is no way I will drop the case for a site on MSE that posts best prices.
Does MSE not want to be at the forefront of consumer protection?
Here is the Which report.
http://www.which.co.uk/news/2010/01/which-slams-cash-for-gold-buyers--195712
Vote and post MSEistas.0 -
Sadly, I think that Which report is the biggest load of tosh I have ever read.
They compare the retail price to the scrap value, what use is that?
I presume the items they bought were pretty new, and in perfect condition. But they are comparing the price given for scrap gold to the price given by retailers who will see that they can sell the item on as new, or nearly new.
It would have been much better if they had damaged the items so they only had a scrap value. That way all parties would be basing their price on the same thing.
It would also have been good if they had said what the weight and gold content was.0 -
I voted no.
Looking at the prices Which were offered I think MSE should not encourage people to sell their gold to these people, any of them.
I think it should encourage us to sell our gold privately, or on ebay where we can set a reserve price with out the risk of not getting our gold back after it has been valued too low.0 -
geordie_joe wrote: »Looking at the prices Which were offered I think MSE should not encourage people to sell their gold to these people, any of them.
I think it should encourage us to sell our gold privately, or on ebay where we can set a reserve price..............
Fair advice and a good comment. Don't use ebay but know that many do.
MSE could point that out in the advice I am asking them to post.
There are some trade buyers who pay not much under spot for the gold content and these should be made known in my opinion.
With prices on some sites for 9ct between 7.82 and 7.99 per gramme today, that compares favourably to todays spot price that has been around 21/22 GBP per gramme. They would be offering between 20/21 GBP per gramme, a fair price in anybodies book.0 -
Fair advice and a good comment. Don't use ebay but know that many do.
MSE could point that out in the advice I am asking them to post.
The bit you quoted from me was about resealable items, not scrap.
I think there is a difference between selling something that can be worn/used again and selling a broken item that can only be melted down.
So any list should include both prices. The price of scrap gold and the price of items that can be bought and resold to another customer.0 -
I agree that the Which report was a waste of time. In December where I live I could easily get £7.50 per gram for 9ct face to face with an independent jeweller. One proviso is that you should weigh to the nearest gram before you go. Accurate electronic scales with a resolution of 1 gram are readily available for £15 if you haven't got some. I know it might be an additional expense but it's reassuring when the valuer's weight agrees with yours.
Another thing to get you on the right side of the valuer is if you verify yourself by hallmarks that everything really is gold and sort it accordingly. Anything doubtful show them separately. You might need a X10 eye glass for this. They also appreciate if you separate out things like old broken watch movements from a gold case so they don't have to.
Never tried postal. Can't see how it works as well as face to face with someone you trust.0 -
I have a feeling that Which? got ripped off by the original retail price too.
Traditionally the jewellery business has a 50% mark up at the retailer - something that has come under pressure from Internet sellers - a bit like books.0 -
MSE has posted on the Office of Fair Trading report.
http://forums.moneysavingexpert.com/showthread.html?t=22208570 -
This has all the threat of week old baby, it's advantage is that more will become savvy to the sharks hopefully.
http://www.oft.gov.uk/news/press/2010/04-100
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