Just be careful when buying Gold in certicards

Discussion in 'General Precious Metals Discussion' started by Aurora et luna, Mar 20, 2020.

  1. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,514
    Likes Received:
    2,095
    Trophy Points:
    113
    Location:
    Sydney
    A few day ago a member wanted to shift a kilo of gold (mostly minted bars) on this forum which is fine; there is no problems at all with that.
    However in his last post before he cancelled his sales tread he posted a paragraph that is very disconcerting!
    True some buyers ask for testing and that can be a pain but hence the discounted price to reflect that.
    As a buyer who has purchased a fake 1oz Certicard in the past, I don't care how discounted the price may be! If I can't get it tested; I don't want it at any price!
    Tread cautiously when buying a Certicard from a private seller and always insist on getting it XRF even if its inconvenient! Most members here do the right thing! One member recently even offered to ship it to me first and get paid after it was confirmed as kosher and the member who sold me the fake certicard refunded me in full promptly.
    If you are in Sydney, Joe from Bullionlist is always happy to test the Certicards I buy for free. Just return the favor the next time you need to buy bullion.
    Cheers
     
  2. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    1,493
    Likes Received:
    1,427
    Trophy Points:
    113
    Location:
    Melbourne
    Honestly for the larger sized certicards, the premium at dealers is so small I don't know why anyone would bother buying privately. I understand the smaller gram sized bars are pricey, but surely the premium on a 100g bar is worth not getting a fake.
     
  3. minimilled

    minimilled Active Member

    Joined:
    Nov 24, 2019
    Messages:
    336
    Likes Received:
    222
    Trophy Points:
    43
    Thanks Aurora et luna

    As prices go north sadly we can expect to see a few chancers here
     
    66rounds and Aurora et luna like this.
  4. madaw1

    madaw1 Well-Known Member

    Joined:
    Dec 5, 2011
    Messages:
    1,249
    Likes Received:
    705
    Trophy Points:
    113
    Location:
    Great Western Country
    I can't see any advantage in buying gold in certificats compare to bars-you are paying higher premium and could be more likely rip off...
     
    66rounds and Aurora et luna like this.
  5. silverhair

    silverhair Active Member

    Joined:
    Dec 9, 2019
    Messages:
    128
    Likes Received:
    167
    Trophy Points:
    43
    I would consider myself a fool to buy a kilo of untested/verified gold bullion. When I saw the post for sale thread, I read it and said " yeah ....naaa" to myself.

    thanks for sharing the safety reminder.
     
    madaw1 and Aurora et luna like this.
  6. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    2,470
    Likes Received:
    794
    Trophy Points:
    113
    Location:
    Seedeneey
    But using Sigma PMV should detect these fake certiCard, right?
     
    66rounds likes this.
  7. Aurora et luna

    Aurora et luna Well-Known Member Silver Stacker

    Joined:
    Jul 1, 2009
    Messages:
    6,514
    Likes Received:
    2,095
    Trophy Points:
    113
    Location:
    Sydney
    Yes it does!
    After I got over the shock of getting a negative with the XRF, Joe kindly offered to test it with the latest model of Sigma in stock.
    It also confirmed the certicard wasn't kosher
     
  8. Skyrocket

    Skyrocket Well-Known Member Silver Stacker

    Joined:
    Jul 20, 2014
    Messages:
    5,819
    Likes Received:
    771
    Trophy Points:
    113
    Location:
    Melbourne
    I too wondered the same thing. Even if people live in the country they can still drive to cities to buy $1,000s of PMs from a trusted bullion dealer.

    I bought a few dozens trades from members here but they were mostly all under $500. Everything over $1k I catch a train and buy at Goldstackers in Melbourne CBD which is conveniently close to my SDB at Guardin Vaults. Too easy.
     
    66rounds likes this.
  9. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    2,470
    Likes Received:
    794
    Trophy Points:
    113
    Location:
    Seedeneey
    I guess I made good investment with this old Sigma PMV.... As long as this unit keeps me away from dodgy bars, im sweet as...
     
  10. dross

    dross Active Member

    Joined:
    Dec 11, 2010
    Messages:
    466
    Likes Received:
    102
    Trophy Points:
    43
    Location:
    Australia
    With the ever improving fakes being produced of all kinds not just certicards it pays to test items even if your sure their fine. Any bullion dealer who cant understand why a customer / owner would feel the need to lean on their expertise & or equipment (free or for a fee) needs to revisit customer service 101. Testing creates a positive experience & trust between both parties & long term relationships that benefit both.

    We are all human before we are business owners or customers & a little consideration goes a long ways in these uncertain days.
     
    Aurora et luna likes this.
  11. silverhair

    silverhair Active Member

    Joined:
    Dec 9, 2019
    Messages:
    128
    Likes Received:
    167
    Trophy Points:
    43
    KJC refused to let me test my first large order from them. Switched to ABC after that experience.

    Their excuse was the equipment was out the back and they dont allow customers back there
     
    Aurora et luna likes this.
  12. 66rounds

    66rounds Well-Known Member Silver Stacker

    Joined:
    Jun 22, 2019
    Messages:
    1,493
    Likes Received:
    1,427
    Trophy Points:
    113
    Location:
    Melbourne
    What a bunch of crock. I would never shop at a dealer where the XRF and scales are not on the front bench for customer to see.
     
    Aurora et luna and Skyrocket like this.
  13. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

    Joined:
    Feb 6, 2012
    Messages:
    2,470
    Likes Received:
    794
    Trophy Points:
    113
    Location:
    Seedeneey
    KJC, do they still exist?! never seen that shop open... cause I normally go around my coin shops during lunch hours....I don't bother wasting my lunch time to chk their shop cause it's always closed.
     
    66rounds likes this.
  14. silverhair

    silverhair Active Member

    Joined:
    Dec 9, 2019
    Messages:
    128
    Likes Received:
    167
    Trophy Points:
    43
    Yes they are still open but the female.co owner is a very unhappy lady.

    I bought from them at first in early December 2019. Then learned better thanks to all of you.
     
    66rounds and Aurora et luna like this.

Share This Page