Tom Gear here wants to buy gold.

TeddyTedson

This cuddly little fella just appeared on my TV trying to buy any gold you might own from his store in the Ilac. Personaly I'd rather sell my granny than my gold watch. But what's the real story here with all these people buying up gold, the market value is at an all time high so surely it's going to drop in the very near future.
How do these people make money from buying gold at such a bad time?

fedor.2.

TeddyTedson wrote: »

This cuddly little fella just appeared on my TV trying to buy any gold you might own from his store in the Ilac. Personaly I'd rather sell my granny than my gold watch. But what's the real story here with all these people buying up gold, the market value is at an all time high so surely it's going to drop in the very near future.
How do these people make money from buying gold at such a bad time?

How much do you want for your granny?? mine died, i miss her

MagicMarker

Because they don't pay market value.

RichieC

Do you get 1400 quid an ounce off him?

Wile E. Coyote

TeddyTedson wrote: »

How do these people make money from buying gold at such a bad time?

I'd assume they're not paying you the current market rate for the gold but when they melt it down and sell it on they do.

ScumLord

Buy a metal with few practical applications, I think the gold rush people suffer is laughable, "gold's really valuable", why? "because it's shiny"

Cionád

http://www.irishtimes.com/blogs/pricewatch/2010/02/09/little-cash-for-a-lot-of-gold/

AnonoBoy

Tom Gear eh?

Funnily enough gear is what most of the money from the gold he buys off people will be spent on.

MagicMarker

ScumLord wrote: »

Buy a metal with few practical applications, I think the gold rush people suffer is laughable, "gold's really valuable", why? "because it's shiny"

It's valuable because it's rare, tis the way of the world.

TheZohanS

TeddyTedson wrote: »

How do these people make money from buying gold at such a bad time?

They offer you a discounted scrap metal price for gold.

TeddyTedson

fedor.2. wrote: »

How much do you want for your granny?? mine died, i miss her

Unfortunately mine has died too, but when she was alive it would have cost you a fair bit alright, she was great!

MagicMarker wrote: »

Because they don't pay market value.

Why don't people sell it to people who will pay market value, or very close to it. The people who are buying it from Tom Gear

RichieC

Good conductor too.

RichieC

TeddyTedson wrote: »

Unfortunately mine has died too, but when she was alive it would have cost you a fair bit alright, she was great!

Why don't people sell it to people who will pay market value, or very close to it. The people who are buying it from Tom Gear

It would have to be gold bullion to get close to market I imagine.

kfallon

I thought you were banned from starting threads on here???

TeddyTedson

RichieC wrote: »

Good conductor too.

She was in her day I'd say alright. One of the first female conductors to really make it big. But lets stay on topic.
So is the only reason gold is more valuable than silver or bronze because it's rarer? Or is it the pretty colour?

fedor.2.

kfallon wrote: »

I thought you were banned from starting threads on here???

You're right, lets get him

ScumLord

MagicMarker wrote: »

It's valuable because it's rare, tis the way of the world.

It's still silly thinking it's valuable. I assume people are buying gold thinking that if money goes belly they'll have their gold to fall back on but if that did happen I think they'd find the value of their gold disappeared with the market and they'd have been much better off stockpiling food which has real value.

Overall I wouldn't take part in the buying and selling of gold, the people who buy it are taking part in the markets to try and save themselves from the markets it's a huge con as far as I'm concerned.

TeddyTedson

kfallon wrote: »

I thought you were banned from starting threads on here???

I was alright yea. I'm back now though and have really matured over the last two to three months. Many of my posts have really gone above and beyond the call of duty in terms of being helpful to others. My ban finished a few weeks ago. I'm now seen as a Veteran of the boards and contribute extensive and very substantial posts.

RichieC

TeddyTedson wrote: »

She was in her day I'd say alright. One of the first female conductors to really make it big. But lets stay on topic.
So is the only reason gold is more valuable than silver or bronze because it's rarer? Or is it the pretty colour?

Rarer, prettier, more malleable, doesn't corrode and has as I mentioned a practical application in electronics.

I think the price sky rocketed because right wing looneys are convinced the end is nigh for paper cash and that it's only a matter of time before we go back to a gold standard, so they're hoarding it. Glenn Becks show in America has basically been hawking a gold buyer company for 2 years now with this in mind.

http://www.metacafe.com/watch/2405766/glenn_beck_on_goldline_and_gold_coins/

Gunsfortoys

TeddyTedson wrote: »

I was alright yea. I'm back now though and have really matured over the last two to three months. Many of my posts have really gone above and beyond the call of duty in terms of being helpful to others. My ban finished a few weeks ago. I'm now seen as a Veteran of the boards and contribute extensive and very substantial posts.

Your advice on Tom Gear is particularly top notch.

Degag

I was genuinely wondering as to why Top Gear wanted to buy gold for a second there. Although building the first ever car made from gold is something that Jeremy Clarkson would come up with alright.