Best way to buy Gold bars or coins?

nrsql

Hanks6 wrote: »

nrsql i have no idea that is uncharter territory as far as as modern society goes. i tell you one thing tough - i will be able barter a lot better with my gold coins than anyone with a stock certificate or paper gold in their pocket ;]

True.
Wonder what would happen to ns&i index linked certficates - probably disappear with currency changes.

nrsql

Hanks6 wrote: »

we are gonna fold into the euro when the pound crisis really kicks in. anyone think this isn't gonna happen? i reckon it's pretty much a dead cert right now.

What would the conversion rate be? If it doesn't happen soon then I can see this being a problem. Will we be wanted?

I think the debt boom should have been stopped by a big hilke in interest rates a couple of years ago. Now need to recognise there is going to be a period of difficulty and should minimise that time by a sharp shock. Let people lose houses and go into social housing, let unemployment increase and reduce wages

Hanks6

i reckon there will be a 'crisis' in the pound where it sinks to below (maybe way below) the value of the euro. there will be a lot of panic, the government will do some short term stuff to 'stabilise' it and also lay out the long term plan that we must be to join the euro asap. then when its back to 1:1 it'll be good as done...

drum_3

william_G wrote: »

Hope I can be some help her although I doubt if I can shed any further light to what has been said before.

first question - do you want to hold physical gold at home?

If yes then IMHO you will struggle to beat Chard. They've been around for ever and are listed as one of the 4 or 5 sanctioned bullion dealers in the UK.

You could use ATS if you're in London although their premiums - i.e. the price over spot you pay is less competitive than Chard on the investment level you quote.

Hi

Complete newb to gold etc but it's certainly catching my attention!

Just spoke to a jeweller/bullion dealer local to me who sells soverigns/krugerrands at 'spot price' with no premiuum. Says they make their money by buying at below spot.

As I say I know nothing about it other than doing a bit of forum reading here and at HPC over the last day or so.

But it sounds like a pretty good deal to me. Thoughts anyone?

[Deleted User]

[quote=drum;18722971

Just spoke to a jeweller/bullion dealer local to me who sells soverigns/krugerrands at 'spot price' with no premiuum. Says they make their money by buying at below spot.

But it sounds like a pretty good deal to me. Thoughts anyone?[/quote]

This sounds strange to me. Be careful when offered a deal too good to be true. What's the name and address of this dealer?

drum_3

travellingbum wrote: »

This sounds strange to me. Be careful when offered a deal too good to be true. What's the name and address of this dealer?

Thanks.

In case I've misheard/misunderstood I'm always a bit wary of naming names 'till I'm 100% on my facts :lipsrseal

However, I'm pretty sure that's what they said and seem to be pretty well known and thought of I'll pop down Saturday and verify (also said they'd sell Saturdays at the closing comex ?!?? price)

I'm assuming from your reply that there is usually a premium to pay? In what ways might it be 'too good to be true?

[Deleted User]

Usually traders base their spread (the difference between buy and sell) on the actual trading price or 'spot price'. Meaning, if let's say the spot price for gold is 900USD a trader would typical BUY from you at say 860USD and SELL to you at 940USD. I, as well as other people on this board, would be interested to know WHO can offer such a good deal. I don't know what the typical spread on bullion coins is, but I should imagine around 10%. If anybody's knows a reputable trader with a lower spread please let us all know. Thanks.

drum_3

Thanks travelling

That's a really good and straightforward explanation. So if this is correct I guiess they must be buying at a very good price or working to much less margin.

Let me get down there and see what's what and I'll certainly let you know how I get on.

alastair_h

Link here for Baird & Co if anyone is interested.

http://www.goldline.co.uk/investmentBarsPage.page

nrsql

drum wrote: »

Thanks travelling

That's a really good and straightforward explanation. So if this is correct I guiess they must be buying at a very good price or working to much less margin.

Let me get down there and see what's what and I'll certainly let you know how I get on.

Before (and after) you go have a look on coininvestdirect to check the price - could be that the spot price your dealer is using isn't the same as theirs.
It's sounds odd for a dealer to make a physical trade at that rate - if you consider their storage and manpower costs.

If it is ok they could be getting a lot of business when you post their name here.