Great 'Sell Your Gold' Hunt

TC_Manchester wrote: »

I sent my old / disused items to money4gold, I did weigh it prior to sending and had appox 46g of 9ct gold (I also sent some 14ct and silver) to which they did send me a cheque to the unbelievable amount of £52 !!!! :mad:

I have sent them their cheque back .... and after 2 phone calls requesting my items back I am still waiting 15 days later !!! :mad:

I think I will wait for my items to be returned (if I ever get them back) and use the company Hatton Garden Metals which has got some good reviews.
So thanks to whoever posted the link :T

Sorry just seen your comments after I had posted. They offered me £66 for 53grams. I am waiting for my gold back (fingers crossed) If you have waited 15 days for your items back Money4gold are in breach of their contract ie under the supply of goods and services act (their guarantee states 15 days to receive back your Gold) Can i suggest you contact consumer direct explain the situation and they will report Money4gold to trading standards, they will also give you a template letter for you to use to send off recorded delivery to Money4gold. Which may help in getting your gold returned. Good luck you appear to be in the same boat as a few of us.

I live near Birmingham so was thinking of trying the jewellery quarter as recommended above.

Is there any particular dealer I should go to, or are they all much of a muchness?

hollydays wrote: »

Jewellery Doctor / www.webuyoldgold.co.uk

35 reform street,dundee,dd1 1SH

they claim
We are recommended on forums at

Money Saving Expert

http://www.jewellerydoctor.co.uk/

Is this true-can't see any recommendations when i had a search at todays date

Recommended on this thread which was the first I think more than a year ago.

http://forums.moneysavingexpert.com/showthread.html?t=1213323

SarahInBrum wrote: »

it's definatley a good time to sell Gold, you only have to look at all of the companies advertising on tv, even Anne Diamon is getting involved ; )

I don't normally post here, but I saw this and as it's a subject I'm very interested in I had to say something.

I'm gonna take the exact opposite view. I think selling your gold now is a huge mistake unless you really need the money.

I keep hearing how gold is at an all time high since its 1980 peak of around $850/toz. But actually, that isn't correct. True, it is at a nominal high but if adjusted for inflation it would have to reach about $2300/toz. based on how they calculate CPI now (with substitution and hedonics thrown in to lower the figure) to be a true high. The real, more accurate figure for gold based on how inflation used to be calculated would be a whopping $6500/toz.

There are many who would argue that it isn't gold rising, it is currencies falling and whilst that is true over time, I believe gold is currently very cheap. There are roughly the same number of gold ounces around per capita today as there was in Roman times and the purchasing power is roughly the same. Oil priced in gold has remained fairly steady for over 50 years. Gold is real money; it is a store of value, something which pounds are not since we abandoned the gold standard and then the quasi-gold standard after the Bretton Woods agreement was dismantled in 1971. A good example is a British Sovereign. They used to be our pound coins and are now worth at least £165 each. That is a wholesale devaluation of 99.39%! I know wages go up with inflation but they never keep up. Money used to be payment in full, now all money is debt.

Added to which, the number of paper dollars and pounds since 1980 has massively increased and I mean massively. For the US to back their currency with gold again would take tens of thousands of dollars per ounce.

I own gold and when Sterling tanked not too long ago, I was protected. If you had had just 10% of your wealth in gold in 1971, you would have seen your purchasing power increase by 2.6 times even if your other 90% vapourised.

With governments borrowing money into existence via private central banks in greater and greater quantities, and interest rates well below free-market rates, inflation will start to take off. I've heard the deflation/inflation argument over and over but the point is there will be huge deflation when measured in gold but when measured in paper currencies there will be deflation in assets and inflation in the cost of living.

The press have been harping on about gold's high price for the last 7 years and they've been wrong at every stage. The easy money has been made already but gold is not expensive. In fact, sentiment for gold is horrible right now, hence the "Sell us your gold adverts". When there are tv adverts telling you to flip gold or telling you you're crazy not to own it, it's time to sell and buy something else.

It is also worth noting that the amount of paper derivatives has exploded in recent times. There are probably between 30 and 100 paper gold claims for every ounce of real metal because 99% of metal traded on the COMEX is never delivered. It would only take a few hedge funds to demand delivery and there could easily be a commercial signal failure and a delivery default. Then we will find out the real price of actual physcial gold. If you choose to buy gold, buy physical metal - not futures, ETFs or any paper derivative.

So few people own gold it will only take a tiny percentage of the world's money to enter that market and the price could go to stupid levels. And with all the world's currencies now in a competative devaluation that could happen. China have been increasing reserves and advising their citizens to buy gold and silver. Is it a sure thing? Absolutely not, but will it go to zero. No. It has survived for over 6000 years as money, far longer than the 3000+ paper currencies that have all ended by going to their intrinsic value; the BTUs you get from burning them. Just look at history.

When the crash of '08 happened the thing that hurt everyone was counterparty risk, the one thing you are protected from by owning a metal. Yes, it pays no interest but the interest rates you can get now are tiny anyway. The opportunity cost of gold has reduced. The government can't steal its value via inflation.

In the short term whether to buy or not at a particular time is debatable, nothing goes up in a straight line. There will always be pullbacks and better opportunities. If you like seeing a steady fixed amount in your bank account then perhaps you don't have the stomach for it but in reality the purchasing power of your money is bobbing up and down in value also, if not in the number.

Gold a barbarous relic? I think not! It is the central banking and Keynesianism that are the barbarous relics.

It's time to be our own central banks.

...and don't get me started on what an opportunity silver is - I'll leave that for your own research

there are so many spam replys on this thread :mad:

Anyway, can anyone tell me where I can find out the daily value of gold? i have some gold to sell but worried I'm going to get ripped off...