GOLD

[Pixel8r]

these guys.. anyone used them? seem to be offering bullion at 95% of spot. God knows, it must be a con!

 

http://www.mayfairandgrant.com/content/buy...CFVFf4wodI2eXUQ

 

e.g. 1000g Current spot£20,458.67 their price:£19,435.74

I have just spoken with them on the phone. They say that the reason they can offer it a cheaper than spot is that there sister company "Grants of Cornwall" buys scrap gold, they then refine and sell it on at a discount. The receive a payment from the refiner but also get back some bullion.

 

The only problem I can see is that you have to pay for it then wait for 12-28 days to receive your gold. I also asked if it was possible to collect the gold from them, they said that it was but you still needed to pay for it in advance. The price of delivery is included in the price, but they also offer to store the gold for you.

 

I am very dubious of sending someone money in advance.

 

 

 

[G0ldfinger]

... I am very dubious of sending someone money in advance.

You have to do so with any bullion dealer anyway, but delivery is usually more promptly

 

EDIT: Did you find out who the refiner is? That could be interesting in terms of resale value.

[Mr Pipples]

Exclusive Smoking Gun: The Fed On Gold Manipulation - http://www.zerohedge.com/article/smoking-g...ontrolling-gold

[fitkid]

I have just spoken with them on the phone. They say that the reason they can offer it a cheaper than spot is that there sister company "Grants of Cornwall" buys scrap gold, they then refine and sell it on at a discount. The receive a payment from the refiner but also get back some bullion.

 

The only problem I can see is that you have to pay for it then wait for 12-28 days to receive your gold. I also asked if it was possible to collect the gold from them, they said that it was but you still needed to pay for it in advance. The price of delivery is included in the price, but they also offer to store the gold for you.

 

I am very dubious of sending someone money in advance.

i spoke exhaustively whith one of my suppliers about buying 1kg refined bars at spot as i could get them all day from one of my other suppliers at +1% above spot.He was saying that he could do it at spot so i placed a firm order only for him to renage based on the fact that when he spoke to the refiners in hockley birmingham it worked out not worth his while when he broke it down if during the refining process IF a few grams were lost he would lose on the deal,he even said it wasnt worth him selling to me at 1% above now that he had looked into it and even couldnt understand how the other company could happily do business at +1%.THE ONLY WAY I WOULD DO ANY BUSINESS IS BUY TAKING IMMEDIATE DELIVERY AT THE POINT OF SALE EVEN WITH THE COMPANIES I KNOW.PERIOD!!!!!

[fitkid]

MAYFAIR and GRANT

 

About Us

Established in 2009, Mayfair and Grant are part of the Crown Holdings Limited group of companies based in London. Crown Holdings have been leaders in foreign currency exchange for over 4 years and have excellent links in the financial and currency exchange sectors.

 

Our offices are located in the Old Foundry area of Hayle, Cornwall where we are in the unique position of being able to offer lower prices on investment gold than many of our competitors. Our prices reflect the fact that we operate purely online, and as a consequence our overheads are kept to an absolute minimum and we pass these savings onto our clients.

 

We store our gold in a secure facility located off site, and offer the unique opportunity to store any gold you purchase from us in our vaults completely free of charge for the first year.

 

This is from their website they have only been established THIS YEAR the companies i deal with have at least a 30 year pedigree and i still would only do C.O.D.I do not understand why it takes 12-28 days to get the metal back from the refiners if i placed a kg order i would wait 0 - 3days tops and would not pay a penny until i collected the metal.They also offer A YEARS FREE STORAGE.When something sounds to good to be true it very usually is.

COME ON STEVE NETWRITER WHERE IS YOUR CAVEAT EMPTOR ON THIS

[fitkid]

MAYFAIR and GRANT

 

About Us

Established in 2009, Mayfair and Grant are part of the Crown Holdings Limited group of companies based in London. Crown Holdings have been leaders in foreign currency exchange for over 4 years and have excellent links in the financial and currency exchange sectors.

 

Our offices are located in the Old Foundry area of Hayle, Cornwall where we are in the unique position of being able to offer lower prices on investment gold than many of our competitors. Our prices reflect the fact that we operate purely online, and as a consequence our overheads are kept to an absolute minimum and we pass these savings onto our clients.

 

We store our gold in a secure facility located off site, and offer the unique opportunity to store any gold you purchase from us in our vaults completely free of charge for the first year.

 

This is from their website they have only been established THIS YEAR the companies i deal with have at least a 30 year pedigree and i still would only do C.O.D.I do not understand why it takes 12-28 days to get the metal back from the refiners if i placed a kg order i would wait 0 - 3days tops and would not pay a penny until i collected the metal.They also offer A YEARS FREE STORAGE.When something sounds to good to be true it very usually is.

COME ON STEVE NETWRITER WHERE IS YOUR CAVEAT EMPTOR ON THIS

[Pixel8r]

This is from their website they have only been established THIS YEAR the companies i deal with have at least a 30 year pedigree and i still would only do C.O.D.I do not understand why it takes 12-28 days to get the metal back from the refiners if i placed a kg order i would wait 0 - 3days tops and would not pay a penny until i collected the metal.They also offer A YEARS FREE STORAGE.When something sounds to good to be true it very usually is.

COME ON STEVE NETWRITER WHERE IS YOUR CAVEAT EMPTOR ON THIS

Agreed, I will not be taking a chance on this company. To many things don't quiet add up.

 

 

 

[G0ldfinger]

As I wrote before, payment in advance is what you have to do with any bullion dealer, only delivery is usually promptly aftwards (and then shipping takes time etc.). In general, I would not store the metal with ANY dealership. I would also be more careful with very new businesses. Selling metal below spot is somewhat suspicious, but it could also be an initial thing only.

[G0ldfinger]

They seem to discourage you from taking delivery. The piece on insurance, why is it their business whether I want to have insurance or not? Strange. Also, I do not like certificates.

 

http://www.mayfairandgrant.com/content/faq.php

Can I keep the gold myself?

 

Yes you can, however you will need to arrange for insurance and there may be a small cost for transportation on small bars. You should however consider the implications of holding your gold yourself; the provenance of gold is very important and the principals of safe and secure holding must be upheld for insurance purposes.

 

How do I prove ownership if you store my gold?

 

You will be issued with a certificate from Mayfair and Grant that states your ownership of the gold you have purchased. This is a valuable document and should be kept in a secure place with other valuables.

I'd only give them a shot if it was for a smaller quantity with immediate delivery after payment.

 

EDITed to add: If they sell below spot, how can they cope with the arbitrage another major dealer could make by buying from them and selling Loco London??

[grumpy-old-man]

Agreed, I will not be taking a chance on this company. To many things don't quiet add up.

 

gut instinct counts for a lot imo.

[azazel]

I would not buy anything off them. ATS is a reliable supplier of 1kg gold bars and so is CID. ATS might haggle. ATS might be a few hundred quid more expensive but thats better than being ripped off £20,000!!! Also you will buy recognised bars from ATS, such as Credit Suise, Rothchilds & UBS that are easily recognised when it comes to resale and would not require assaying.

[fitkid]

gut instinct counts for a lot imo.

If anyone is tempted and dips their toe in the water, i have SOME PRIME COASTAL REAL ESTATE they also may be interested in just outside ZURICH.

[aardvark]

i also saw that they had only been formed this year - for a few hundred quid its not worth the risk imo.

[enrieb]

I think ker is GEI's own contra indicator, bit like silver sammy on goldismoney, someone should start charting his calls.

 

 

The Realist Bear reverse indicator is signaling on HPC also.

 

Probably something about $300 gold or particle accelerators etc...

 

http://www.housepricecrash.co.uk/forum/ind...126541&st=0

 

[G0ldfinger]

I think it is interesting that at this point in time, gold and silver have preserved wealth/purchasing power equally well since this bull market started in 1999.

 

This also means that the gold:silver ratio is momentarily at the same level as back then.

 

http://gold.approximity.com/since1999/RPI_...arison_GBP.html

http://gold.approximity.com/since1999/Gold-Silver-Ratio.html

[G0ldfinger]

Here is the 1979/80 mania phase in comparison to the last two years. Clearly no mania yet.

 

http://gold.approximity.com/1979-1980/asse...arison_USD.html

http://gold.approximity.com/since2007/asse...arison_USD.html

[Steve Netwriter]

COME ON STEVE NETWRITER WHERE IS YOUR CAVEAT EMPTOR ON THIS

 

Not needed when others are doing it

 

But, paying in advance is not unknown. But, personally, I would ONLY do it if the company had a good reputation, and if I thought the chance of them going bust etc before delivery was very small.

 

For a new company, with no reputation, they might need to offer a secure payment system which allowed you the return of your money if anything went wrong.

 

[romans holiday]

It's such a hard choice to make;

 

1 - A 5000 year time tested storage of wealth

 

2 - A fiat currency that they are currently printing more of everyday.

 

Not at all.

 

If you are looking for a store of wealth... come what may... spend half on gold.

 

With the other half keep in "fiat" and then only buy silver on the dip.

 

Fiat is not quite toilet paper yet, amazingly, it looks likely to have the ability to buy more silver tomorrow than it can today.

[TrueNorth]

yes, I noticed the ratio is heading back up.

[Pixel8r]

Fiat is not quite toilet paper yet, amazingly, it looks likely to have the ability to buy more silver tomorrow than it can today.

Sorry but you have been saying that for over a month. Time will tell.

 

 

[Pixel8r]

Gold pirates wage a dirty, underground war - Times Online

 

 

[G0ldfinger]

Sorry but you have been saying that for over a month. Time will tell.

He has been clearly wrong for a over a month then:

 

http://gold.approximity.com/since2008/Silver_GBP.html

[romans holiday]

He has been clearly wrong for a over a month then:

 

http://gold.approximity.com/since2008/Silver_GBP.html

Not wrong at all..... and I have always said investors are wasting their time sitting in pounds.

 

It would be just silly not to have some serious powder dry on looking at the chart below. Personally, I suspect the metals might go higher with the market before the next slump in prices. But who knows, we could see a slump here, where I for one would be a serious buyer.

 

Perhaps this should be discussed on the silver thread. In this environment, gold and silver are very different investment vehicles imo.

 

[wren]

If you are looking for a store of wealth... come what may... spend half on gold.

 

With the other half keep in "fiat" and then only buy silver on the dip.

 

Fiat is not quite toilet paper yet, amazingly, it looks likely to have the ability to buy more silver tomorrow than it can today.

What about people who bought on the dip last October to December? At some stage the fiat will get used up presumably.

 

[romans holiday]

What about people who bought on the dip last October to December? At some stage the fiat will get used up presumably.

I was buying silver on the last dip... though I was a bit eager at the time and missed the bottom, but then you are never going to get the exact bottom.

 

Post dip [once most of your cash has been used], the idea is to accumulate another cash reservoir from income and other sources you may have, making sure it is kept in a currency that should show strength when silver shows weakness. I think the Yen is good for this... dollars might be another option. On a peak, I will not be so concerned with prices as I will with the gold/silver ratio. I will look to swap nearly all my silver when the ratio of 50 is neared... most of it to gold and then a portion back to cash... that way you can once again have a large cash position, next to your increased gold position. Buy on the next big dip, which has to come thanks to a very confused market.

 

I do not really see this trading so much as a currency swap. And then I imagine such an opportunity to swap would come about only every six months or so. If you are overly attached to certain ideas about "fiat", or emotional towards monetary metals, this strategy would be very....difficult.