Where to buy physical Gold/Silver Bullion at Market price?

markj113

ronaldadio said:

I've looked at the pros & cons of buying physical gold.
So what I'm after is a place to buy the actual gold - just small amounts that I know are genuine, but at a good price - small bars.
How do I know the gold is 'real' gold - lots advertised on the likes of ebay and online site.
Any thoughts for a novice buying little keepsakes for Grandchildren?

https://www.hattongardenmetals.com/buy/

https://atkinsonsbullion.com/

https://www.bairdmint.com/

https://www.chards.co.uk/

All well known and established bullion dealers with bairdmint being the UK's largest precious metals refinery on top.

Avoid ebay for bars there are far too many good fakes out there, with coins you can spot the fakes when you are used to handling them as the details are always slightly off.

EdGasketTheSecond

What's wrong with RoyalMint?

DiggerUK

EdGasketTheSecond said:

What's wrong with RoyalMint?

Nice gold, shame about the boutique prices..._

EdGasketTheSecond

As there are 'so many good fakes out there', doesn't it make selling difficult for a private investor as apart from anything else you have to convince the purchaser that what you have is the real deal?

DiggerUK

Ed, for christ's sake will you lighten up. No need to make it so obvious you are an out and out gold bug with serious issues. Being attracted to silver is also something you really do need therapy for.

To check sovereigns all you need is one of these balances, less than £50. They're also cute..._

https://www.ebay.co.uk/b/sovereign-scales/bn_7024817006

EdGasketTheSecond

Eh? I think you are confused. It was a genuine question about a possible difficulty of selling coins. I have no investment in coins btw; hence don't really understand your response?

DiggerUK

Your reply makes your position even odder; you comment on gold quite often,  now you raise issues that don't seem to affect you, because apparently you don't seem to have any gold coins.
Put it like this, when the time comes to sell any coins and they turn out to be fake, then nobody will buy them. Question answered..._

EdGasketTheSecond

Well I have considered many times buying coins but have always been put off by the obstacles which I see as:

1) High trading cost i.e. buy sell spread

2) Storage and insurance issues and costs

3) How to sell without getting mugged, ripped off, a avictim of 'losty in the post'

4) Time it might take to both buy and sell; I like to trade now like one can with an ETF or at somewhere like BullionVault.

So my question was about number 3), selling and how would a buyer know whether my gold was genuine or not? I guess you have partly answered that assuming fakes cannot also somehow be made of the same weight; I'm no expert but I know dealers have been fooled by crooks. So it seems reasonable to assume that selling might not be quite straightforward.

Also who would you actually sell to and how? Do you have to go in person to a coin dealer or entrust your coins to the vaguaries of the postal service? 

These are things I would like to consider before jumping in and buying gold or silver coins.

markj113

EdGasketTheSecond said:

Well I have considered many times buying coins but have always been put off by the obstacles which I see as:

1) High trading cost i.e. buy sell spread

2) Storage and insurance issues and costs

3) How to sell without getting mugged, ripped off, a avictim of 'losty in the post'

4) Time it might take to both buy and sell; I like to trade now like one can with an ETF or at somewhere like BullionVault.

So my question was about number 3), selling and how would a buyer know whether my gold was genuine or not? I guess you have partly answered that assuming fakes cannot also somehow be made of the same weight; I'm no expert but I know dealers have been fooled by crooks. So it seems reasonable to assume that selling might not be quite straightforward.

Also who would you actually sell to and how? Do you have to go in person to a coin dealer or entrust your coins to the vaguaries of the postal service? 

These are things I would like to consider before jumping in and buying gold or silver coins.

1) You can usually pick up gold at 2% to 3% over spot from dealers, many currently paying spot or sell for more privately.

2) A £43,000 bar of gold is the size of a smart phone, a £320 coin the size of a penny.  Its really not that difficult to stash a decent amount away safely unless your in the millions.

3) "lost in post" = use royal mail special delivery, tracked and insured.  or just walk into a bullion dealer like I have previously and the cash is in your bank the same day.

4) There are lots of tests to validate authenticity inc. dimensions, weight, specific gravity test, acid test, xrf check or just buy from a reputable dealer to begin with.

People buy and sell gold daily all over the globe so its probably not the big issue you make it out to be.

Bravepants

I've sold half-sovereigns and full sovereigns in the past on EBay. A ruler and a jewelers scale with photos taken of measurements helps. Never had a problem selling.