sfc1971 Posted 25 June, 2012 Posted 25 June, 2012 The Wife and I took some old tatty broken bits down the local Money shop today giggling how we would be lucky to get £100, To our amazement we walked out with a cool £642.50. I nearly fell over when the Girl in the shop told us. She was saying the prices at the moment are rising daily and that when we purchased said gold it most prob cost half when new.
dune Posted 25 June, 2012 Posted 25 June, 2012 "the money shop" Another mug falls for these con artists.
Whitey Grandad Posted 25 June, 2012 Posted 25 June, 2012 Bloody heck! How much did they weigh? What purity was it?
Hatch Posted 25 June, 2012 Posted 25 June, 2012 surely £642 from them would be £1,500 from a 'proper' place. Not that I know any 'proper' places.
sfc1971 Posted 25 June, 2012 Author Posted 25 June, 2012 "the money shop" Another mug falls for these con artists. Yeah perhaps we should have sold it to one of the Skate based chaps who knock doors offering £25 for it. we also went to a so called established Jeweller (Hammonds) for a 2nd opinion and were offered £350 for 58.85 Grammes of 9 CT.
dune Posted 25 June, 2012 Posted 25 June, 2012 Yeah perhaps we should have sold it to one of the Skate based chaps who knock doors offering £25 for it. we also went to a so called established Jeweller (Hammonds) for a 2nd opinion and were offered £350 for 58.85 Grammes of 9 CT. It was worth 711.478 GBP so in fairness you got a fair deal.
sfc1971 Posted 25 June, 2012 Author Posted 25 June, 2012 It was worth 711.478 GBP so in fairness you got a fair deal. Cheers Dune.
dune Posted 25 June, 2012 Posted 25 June, 2012 So we arent con artists then Dune? We? Are you saying you work for one of those dreadful companies that have appeared on the highstreet?
CumbrianSaint Posted 25 June, 2012 Posted 25 June, 2012 To be fair, the shop I work in has been there since 1996, so it just hasn't just "appeared" on the high street, and Ive worked for my company for 6 years.
sfc1971 Posted 25 June, 2012 Author Posted 25 June, 2012 At the end of the day we were happy with what we got and after a 50/50 split I have half my season ticket money. I do now wish I went down to the local Cash Converters just to see what they would have given us.
Lighthouse Posted 25 June, 2012 Posted 25 June, 2012 It's kind of sad that the cost of consumer electrical goods is pushed up by people buying chavy looking tacky jewellery.
dickyhale Posted 25 June, 2012 Posted 25 June, 2012 My wife had a load of old gold "tat she thought".A pair of earings with gold coins,broken chains,bracelets, odd earings. Sent to this company she rang them up and they sent a Specail delivery envolpe and paid cash staright into her bank. She was amazed by the money they paid nearly £1500-00. We did not have a clue what the items were worth.This is the company she used. A real safe and honest service http://www.howcashforgold.co.uk
dune Posted 25 June, 2012 Posted 25 June, 2012 My wife had a load of old gold "tat she thought".A pair of earings with gold coins,broken chains,bracelets, odd earings. Sent to this company she rang them up and they sent a Specail delivery envolpe and paid cash staright into her bank. She was amazed by the money they paid nearly £1500-00. We did not have a clue what the items were worth.This is the company she used. A real safe and honest service http://www.howcashforgold.co.uk Is the price calculator the amount they give you? It looks to me like it's the spot price.
dickyhale Posted 25 June, 2012 Posted 25 June, 2012 Is the price calculator the amount they give you? It looks to me like it's the spot price. Yes if you know the weight and carat. She did not have a clue had earings with gold coins in some bloke on a horse fighting a dragon. (a gift from her Nan, said they were too heavy for her ears)
dune Posted 25 June, 2012 Posted 25 June, 2012 Yes if you know the weight and carat. She did not have a clue had earings with gold coins in some bloke on a horse fighting a dragon. (a gift from her Nan, said they were too heavy for her ears) Hmm, I don't trust them. The price they offer is only a fraction below the spot price and when you factor is the free delivery any profit for them is almost erased. A couple of quid profit from a 1000k transaction - yeah ok. Sounds too good to be true and for that reason it sounds dodgy. If I was gonna deal with them i'd want to do it face to face.
Tokyo-Saint Posted 25 June, 2012 Posted 25 June, 2012 The price of gold has been inflated by the boom in the Indian economy.
dubai_phil Posted 26 June, 2012 Posted 26 June, 2012 The price of gold has been inflated by the boom in the Indian economy. http://www.bullionstreet.com/news/india-remains-hot-destination-for-dubai-gold/766 Lots of strange laws and taxes in India on Gold means Dubai built a huge Gold Trade. Bullion is sent in to India and worked, shipped back to Dubai then sold here to be "imported" by numerous and nefarious means back into India. (They prefer 24ct, very hard to find 9ct here)
dune Posted 26 June, 2012 Posted 26 June, 2012 The price of gold has been inflated by the boom in the Indian economy. A minor and insignificant factor. The primary factor is the global economy and gold being a safe haven.
RedAndWhite91 Posted 26 June, 2012 Posted 26 June, 2012 The girl said prices were rising... £12.03 for 9ct today according to the Bullion Room (best price in UK, although it is trade only), yet not too long ago it was as high as £13.90...
dune Posted 12 July, 2012 Posted 12 July, 2012 Got a few bits I don't want that i'm gonna try and flog today. I've weighed it all and I know the scrap value (250 quid) so won't get fleeced. That said I have a cigarette case that is worth more than its intrinsic value (it's not scrap - and can be sold on as a card case) so will take that to a dealer who is fair that i know and hopefully get a better price.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 A minor and insignificant factor. The primary factor is the global economy and gold being a safe haven. Or... "If India sneezes, the gold industry will catch a cold," - Ajay Mitra of the World Gold Council. Differing opinions, one from the world gold council, one from a badger baiting right wing troll on an Internet forum. Not sure who to believe.
dune Posted 12 July, 2012 Posted 12 July, 2012 Or... "If India sneezes, the gold industry will catch a cold," - Ajay Mitra of the World Gold Council. Differing opinions, one from the world gold council, one from a badger baiting right wing troll on an Internet forum. Not sure who to believe. You clearly don't know what you're talking about if you don't realise that the spot price is at it's current level due to the global downturn and investors fleeing to the safe haven of bullion, but feel free to post up a few more quotes in your attempt to cover your ignorance. Are you really as thick as you make out?
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 You clearly don't know what you're talking about if you don't realise that the spot price is at it's current level due to the global downturn and investors fleeing to the safe haven of bullion, but feel free to post up a few more quotes in your attempt to cover your ignorance. Are you really as thick as you make out? Reeled you in like a big fat nazi fish there dune. In truth we are both right in some respects (gold is being invested in as it is a 'safe' option and the gold market has been elevated due to the strong Indian economy and its growth) but you are wrong in 1, when you say India is a "A minor and insignificant factor." India accounts for 27% of the world's demand for gold jewellery and investment, according to the World Gold Council (Source:http://online.wsj.com/article/SB10001424052702304543904577398511849377038.html). If you believe that almost one third of all global demand and investment is either minor or insignificant, then you are as thick as your caricature of an internet persona makes out. Not really Dune, I do actually like you. You are a right wing dullard but you are our right wing dullard and at least your posts are interesting if slightly troll like.
dune Posted 12 July, 2012 Posted 12 July, 2012 Reeled you in like a big fat nazi fish there dune. In truth we are both right in some respects (gold is being invested in as it is a 'safe' option and the gold market has been elevated due to the strong Indian economy and its growth) but you are wrong in 1, when you say India is a "A minor and insignificant factor." India accounts for 27% of the world's demand for gold jewellery and investment, according to the World Gold Council (Source:http://online.wsj.com/article/SB10001424052702304543904577398511849377038.html). If you believe that almost one third of all global demand and investment is either minor or insignificant, then you are as thick as your caricature of an internet persona makes out. Not really Dune, I do actually like you. You are a right wing dullard but you are our right wing dullard and at least your posts are interesting if slightly troll like. You are right to an insignificant degree, and I am right to a significant degree. That is where we are at. So don't try and kid yourself that you know what you are on about. The spot price of gold sky rocketed after the banking crisis. Would you like me to provide you with some graphs?
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 You are right to an insignificant degree, and I am right to a significant degree. That is where we are at. So don't try and kid yourself that you know what you are on about. The spot price of gold sky rocketed after the banking crisis. Would you like me to provide you with some graphs? Yes please.
CB Saint Posted 12 July, 2012 Posted 12 July, 2012 Got a few bits I don't want that i'm gonna try and flog today. I've weighed it all and I know the scrap value (250 quid) so won't get fleeced. That said I have a cigarette case that is worth more than its intrinsic value (it's not scrap - and can be sold on as a card case) so will take that to a dealer who is fair that i know and hopefully get a better price. Don't be so hasty, sovereign rings might come back into fashion soon.
dune Posted 12 July, 2012 Posted 12 July, 2012 (edited) Don't be so hasty, sovereign rings might come back into fashion soon. All gone now, and much of the proceeds spent in the Jaeger shop. Some cracking sale prices online too but even cheaper in my local store. http://www.jaeger.co.uk/Mens Edited 12 July, 2012 by dune
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 Hiya Dune Hope you got your full £250 you wanted? Still waiting on you showing some evidence to show that India is "A minor and insignificant factor" when it comes to the gold market. Here are some more stats for you: Indians spent $46.4 billion on gold in 2011. And while you may have read about Western central banks, Chinese citizens, and scores of other buyers for the yellow metal, India in fact outpaces every other country on the planet in gold consumption: In 2011, India was the clear leader in global gold demand with 27.1% of the market, according to the World Gold Council’s statistics. 61% of this spending went to jewelry, while 39% went to coins, bars, and other investments. This ratio has been converging for several years: in 2006 73% went to jewelry and 27% to other investments. China has been slowly closing in on the lead, however, with 22.3% of the global gold market last year. 67% of this went to jewelry and 33% to other investments. Gold ETFs got their start in India in 2007, and the seven such funds on offer to Indian citizens now have $1.9 billion in assets under management. The next closest country in the ranks after India and China is the US, representing a much smaller 5.7% of global demand. Clearly, India and China together are imperative to the global gold trade, as they account for almost half of all global demand. Source: http://www.zerohedge.com I am sure you have some interesting evidence to support your position. Maybe an in depth article from the 2nd hand jeweller in East Street?
dune Posted 12 July, 2012 Posted 12 July, 2012 I don't suffer fools so will let you believe what you want.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 I don't suffer fools so will let you believe what you want. A good point well made. Taken directly from the Oxford debating society though if I am not mistaken? It is the slightly more educated way of saying "whatever" but is based on the same approach to debate. Well done Dune.
dune Posted 12 July, 2012 Posted 12 July, 2012 A good point well made. Taken directly from the Oxford debating society though if I am not mistaken? It is the slightly more educated way of saying "whatever" but is based on the same approach to debate. Well done Dune. I've already informed you of the reality i.e the gold spot price has risen dramatically because of the global downturn. There is nothing else to say on that matter.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 I've already informed you of the reality i.e the gold spot price has risen dramatically because of the global downturn. There is nothing else to say on that matter. I have never denied any of your comments on this subject. The part I disputed is where you said the Indian market was "A minor and insignificant factor". I have provided evidence to show that India was responsible for 1/3 of all of the worlds gold purchases in 2011 and shown my sources. You have offered only your own opinion and a 'I know best so there' attitude. I don't see how 1/3 of all purchases can be seen as either minor or insignificant? By the way, the only countries with any real money since the global turn down has been India and China. If you were running either of these countries, what would you want to invest in as the rest of the world has gone to sh!t? tangible goods such as precious metals is the answer. So, yes, the price in gold has been inflated by the global turn down but has been primarily driven by India and China as these are the largest players in the market. I would say, cash my gold and the like and possibly even the whole of the UK market is "minor or insignificant" on a global scale.
dune Posted 12 July, 2012 Posted 12 July, 2012 I have never denied any of your comments on this subject. The part I disputed is where you said the Indian market was "A minor and insignificant factor". I have provided evidence to show that India was responsible for 1/3 of all of the worlds gold purchases in 2011 and shown my sources. You have offered only your own opinion and a 'I know best so there' attitude. I don't see how 1/3 of all purchases can be seen as either minor or insignificant? By the way, the only countries with any real money since the global turn down has been India and China. If you were running either of these countries, what would you want to invest in as the rest of the world has gone to sh!t? tangible goods such as precious metals is the answer. So, yes, the price in gold has been inflated by the global turn down but has been primarily driven by India and China as these are the largest players in the market. I would say, cash my gold and the like and possibly even the whole of the UK market is "minor or insignificant" on a global scale. You stated that "the price of gold has been inflated by the boom in the Indian economy" and I pointed out that this has been a minor and insignificant factor, and that the sharp increases we've seen since the beginning of the global downturn were as a result of gold being a safe haven in turbulent times.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 You stated that "the price of gold has been inflated by the boom in the Indian economy" and I pointed out that this has been a minor and insignificant factor, and that the sharp increases we've seen since the beginning of the global downturn were as a result of gold being a safe haven in turbulent times. Who was buying the gold during the global downturn?
dune Posted 12 July, 2012 Posted 12 July, 2012 Who was buying the gold during the global downturn? Investors. The Indian market didn't suddenly shoot up overnight. It was the banking crisis and turbulence on stock markets that drove the price up. Not demand from India.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 Investors. The Indian market didn't suddenly shoot up overnight. It was the banking crisis and turbulence on stock markets that drove the price up. Not demand from India. And which country has been the biggest investor in gold during the up turn in price? Is it important that this country has had a strong economy during this period?
Sergei Gotsmanov Posted 12 July, 2012 Posted 12 July, 2012 And which country has been the biggest investor in gold during the up turn in price? Is it important that this country has had a strong economy during this period? Tokyo it is well known that in global downturns and times of global uncertainty people put their money into gold.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 Tokyo it is well known that in global downturns and times of global uncertainty people put their money into gold. I agree. What I don't agree with is that is India having a strong economy has been an insignificant factor. Anyway, Dune has got me to the point where I am even boring myself. I'm going to the gym.
Tokyo-Saint Posted 12 July, 2012 Posted 12 July, 2012 Last word from me before I am off. The price of something can go up or down for several reasons. Dune, you have stated that it is because of the global down turn, I agree. One other reason though (among many) is the Indian and Chinese economies and their strength/growth, making them a global player. There is a good article here explaining the reasons. http://www.commodityonline.com/news/eight-reasons-why-gold-is-going-up-38644-3-38645.html Asian demand coming in at number 6, neither minor or insignificant.
dune Posted 12 July, 2012 Posted 12 July, 2012 I agree. What I don't agree with is that is India having a strong economy has been an insignificant factor. Anyway, Dune has got me to the point where I am even boring myself. I'm going to the gym. India is an insignificant factor. Without the global downturn do you really believe the spot price would have risen from $800 troy/oz to $1600 troy/oz (that is a doubling in price) since 2008?
spyinthesky Posted 14 July, 2012 Posted 14 July, 2012 Is it worth buying the Royal Mint Gold coins as a hedge against inflation?
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