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Precious Metals

  • 11-11-2016 3:24pm
    #1
    irish_investr
    Registered Users, Registered Users 2 Posts: 49 ✭


    Hi

    I'm looking for some info for an article for the irishinvestor site.
    Any experiences of buying gold/silver bullion/bars/coins in Ireland? In particular I'd like to know what kind of spread the traders are using, especially if you want to sell it back to them.
    Any recommended traders? A few years back there were plenty of small shops and kiosks selling gold coins, many seem to have disappeared..


Comments

  • #2
    ABC101
    Closed Accounts Posts: 1,118 ✭✭✭ABC101


    Never got gold, however there is a mint in Western Australia which deals with investors and is backed by the Govt of W.Australia. They seem to be recommended.
    www.perthmint.com.au
    With regard to the small shops and kiosks selling gold, I kept away as in my opinion the providence of the material was unknown. Stuff could have been stolen by bandits from household robberies and traded in cheaply.
    I know of one friend who had their house hoovered out by bandits, Gardai recovered all items from a cash / converter kiosk in the nearby shopping center that day.


  • #3
    FortySeven
    Closed Accounts Posts: 3,296 ✭✭✭FortySeven


    I've a lot of pm experience. Hardly bothered with buying and selling in Ireland. Premiums way too high and laughable resale prices.

    I buy in Switzerland and sell back with 1% - 2% loss if I'm selling. Premiums not too high. I send an email, they send FedEx to collect. I sold a 10oz gold bar back to them last year and had the money in my account within 5 days.

    Ireland is a comedy when you're buying and selling. Especially the 23% vat on silver, platinum and palladium.


  • #4
    irish_investr
    Registered Users, Registered Users 2 Posts: 49 ✭irish_investr


    silver - forget about it > VAT.
    I checked 7 of the local dealers (via websites), find it amazing that 3 of them can't manage to publish up-to-date prices in this day and age. Short evaluation of the traders on the irishinvestor-dot-ie site.
    Anyhow, prices have dropped like a stone since Trumps election, silver is down about 12% and Gold about 8%, so could be a good time to consider metals (or not??).


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