Is gold cheaper overseas???

Bear Metal

Bear Metal

Well-Known Member
Silver Stacker
Hi,

May be the wrong thread but can always change.

Had a reasonably new member say he can source sovereigns for $US430 delivered and insured. Not for me to purchase but for themselves.

That equates to AUD$650 delivered.

Spot gold for a sovereign is $830, so buying sovereigns $180 under spoto_O

Do you think he’s being taken for a “ride”?

In all essence you could buy and sell on the same day and make endless amounts of money….;)

To the person who has told me this info, tread with caution because if it’s too good to be true, it’s usually fake or such.

But I could be wrong and buying overseas is way way cheaper…

Cheers,

BM.
 
I doubt it, but in theory since gold is pegged to the usd you could buy from a currency that is weak to the usd like maybe the yen, but like I said I doubt it to be true
 
If you have a metal tester, maybe offer to test these under spot items for the customer.
 
So much fake crap now look alikes for afew $ scratch off the top...maybe theyre made of chocolate?;) Ignorance is bliss until they test it. Anythings possible but highly doubtful...tell em to chomp down hard n see if they break theyre teeth :eek:
 
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I suspect they are new to the game and have a lot to learn.

I think they have confused it with a half sovereign.

Everyone has to start somewhere, and here is a wealth of knowledge.
 
Bear Metal said:
I suspect they are new to the game and have a lot to learn.

I think they have confused it with a half sovereign.

Everyone has to start somewhere, and here is a wealth of knowledge.
Click to expand...
Agreed been lucky enough to learn here myself and still dont know shit all compared to many :)
 
Reddit is flush right now with 'is this a good deal' gold posts. Scammers are selling below spot (yes a couple hundred dollars) which looks less obvious like a scam but clearly is.
I'm sure this will get increasingly more common and annoying as more masses fumble their way into the market.
 
Hey, I’d be cautious about this. I once got a deal that seemed too good to be true and it ended up being a scam. Make sure you check everything out before you get involved. If it’s a legit offer, awesome, but usually there’s a catch.
 
I moved overseas a few years ago, and the premiums even on generic items makes it not worthwhile for me. People here, even though the stacking community I'd small, have no problem paying these prices. I think it's crazy.
I put up a few round 50's to sell and people had no clue about them.
I have noticed soverigns are very liquid as you'd expect, gold is gold. If you're getting a bargain your getting ripped off
 
Spot is spot and besides fluctuations between currencies it is mostly the same.
Premiums for jewelry and bullion premiums can vary widely around the world.
I suppose a sovereign nation could put their own fiat spot value on gold if they wanted to since it isn't used these days but it's not really needed.
We can leave that to the Brics to figure out.

As for knowing everything....there's only one Shiney and we all know and accept it.
 
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