WaftyCrank

With the laws and regs in place these days it would be seriously unlikely to happen (although not impossible). It's a different world today than it was back in the 30's.

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doodlebug

Thanks Domain Angel you had to mention Salford, born and bred there and spent the last 4 years stuck in F***ING South Wales BAA BAA BAA !!!!!!!!!!!!!!!!!!!!!!!!!!!!! A LESSON FOR ME I THINK GETTING PUNISHED FOR BEING A NAUGHTY BOY WHEN I WAS YOUNGER.

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stender

I work for a broker and steer clear! luckily my company only brokes so all this volatility is good for us but many are/have had their fingers burnt.

I recommend investing in art if you do your homework and know who to buy. And at least you have something to put on your wall if it becomes worthless.

DomainAngel

My favourite gold facts.

Gold is so malleable; it can be hammered cold into a translucent wafer five-millionths of an inch thick (0.000013 cm).

One ounce can be beaten into a sheet covering 100 square feet (9.3 square metres).

Gold is so ductile; one ounce can be drawn into 62 miles (100 km) of thin gold wire to make electrical contacts.

Need to keep off this thread now, as I'm starting to sing gold, and considering is it worth wpending 79p to get it


And doodlebug, Salford aint sunny today, so stay in south wales

Skinner

I used to work in a met (metalurgy) lab with an electron microscope and they used to used gold to increse conductivity or something, I was too busy dippin things in the liquid nitrogen (the coolant) to be bothered with gold (what was I thinking).

The conductivity is crazy.

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golddiggerguy

That's why scrap circuit boards are worth a lot when you weigh some in. All/Most circuit boards have some gold on them.

I know someone in the trade of recycling and got rid of a load for a company and charged them then made £600 from scrap value. amazing or what?

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DirDn

I used to have a jewelery manufacturing business, and last i heard there is a limit to how much gold you can actually own legally.

the exception is gold coins, as for it being a sound investment, i think not, the ass fell out of the gold market when they discovered gold in Russia, its now higher than its been for a long time, so IMHO you should sell sell sell.

as for scrap gold, its all relative, 9ct, 18ct 22 etc so buy accordingly. but remember only a manufacturer will pay you full rate or close to, jewelers and pawnbrokers will not give you anything close.

the best way to invest in gold is sovereign's, buy at scrap at present its about £95 a sovereign, when i was in the gold game around 2000 to 2002 it was £64 for a sovereign, thats why i say sell!

gold is not getting rarer as was suggested in this thread, its still being mined today, so my advice would be, sell your gold quick and get it in to domains

also gold does not alloy back when melted, if you take an ounce of scrap 9ct gold (clean) and melt it down and cast an ingot or chain then send it to be assayed, it will get a 9ct assay (hallmark)

and if you want to know what you should be paying for 9ct etc, devide the price by a troy ounce 31.1grm to get the 24ct per gram rate, then devide it by 24 and multiply it by 9 or 18 or whatever ct you want the price for, but remember, you need to buy below the quoted rate, at least 10% below, preferably 20.

door to door gold buyers:
Generally they are not looking for scrap as quoted in their leaflets, they are looking for broken repairable or vintage jewelery, if you do offer them total scrap they will give you less than half the going rate.
I used to sell Victorian and vintage jewelery mainly to America and one of my biggest sources was door to door guys, they used to get some real gems at ridiculously low prices.

also never buy new gold as an investment, you will blow your brains!
scrap gold on 9ct is probably around £5 a gram as we speak, jewelers sell for between £7 a gram for heavy stuff over an ounce from discount or market jewelers to £35 a gram from top high st jewelers

feKIX

Like disruptive said earlier, gold has had its day in the short term. I have been in the recycling/scrap business for a number of years now and to be honest the boom has gone...for now. I've made substanial amounts of money earlier this year with catalytic convertors (precious metals inside) and yes I have been collecting circuit boards etc, but there are considerable costs with machinery etc to extract it. There are only small amounts inside.

Gold will always be a commodity as most countrys economies are backed up by and run on it, but thats a long term investment.

Oil wont be worth diddly squat in the long term as many automotive companies have been expecting the stuff to run out, so expect an alternative to come along far before it runs out.

We are laying people off (in our scrapyard) and thats because, short of an earthquake or similar, the future is currently bleak. Yes, you'll never see a poor scrapman, but believe me when I say one day you can feel like a millionaire and the next a pauper.

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