Gold Selling

[raydeon]

Which the best place (best rates)to sell gold in the Toronto area?
I have some 100gr. gold bars I would like to sell.
My bank buys gold, but they will only take it in Oz. bars, not in gr. I don't know why since gold is sold all over the world in grams.

 

[Anderson]

There is a great place at Bay/Queen on Bay a few blocks south on the Esat side. Cannot remember the name though it is ground level with a window, so you will see it.

Great commission and very easy-take id

 

[Anderson]

I think they both do but maybe only certs not bullion, and I am not sure if Friedberg does anymore

 

[danmand]

Scotia Mocatta is the stablished leader in that business. You may also look at Kitco from Montreal, who has an online buy/sell business www.kitco.com.

You may have to pay extra charges, because 100g appear to be an unusual gold bar size.

 

[danmand]

What is the stamp on the bars? Do they have a certificate?

 

[Anderson]

I bought and sold gold bars quite a bit and the commission these days based on the bid/ask is really minimal, its like a $15 spread or something-maybe less.

If you wanted to buy gold why risk any private transaction at all ( nothing against the poster) only to save the id situation when any gold purchase under $1000 requires no id, only a name-and not a real one at that-last I checked.

Splitting the bid and the ask only saves like $5-$10 anyway.

 

[anon1]

Go to any jewellery store in Chinatown.

 

[stinkynuts]

How do the buyers know that the gold is real/pure?

Do they use some kind of machine?

 

[Meister]

How do the buyers know that the gold is real/pure?

Do they use some kind of machine?

They do a chemical analysis.

 

[danmand]

The old proofing stone will do. Otherwise electronic testers are available.

 

[raydeon]

Scotia Mocatta is the stablished leader in that business. You may also look at Kitco from Montreal, who has an online buy/sell business www.kitco.com.

You may have to pay extra charges, because 100g appear to be an unusual gold bar size.

100g gold bars are quite common outside North America. I bought and sold gold in Europe, in the Middle East and in Asia, always in grams, 50, 100 and up.

 

[raydeon]

Hi,
100 grams is approximately 3.5 ounces. Gold is selling at 683.90 US today per ounce. 683.9 x 3.5 = $2393.65 US = $2,774.12 Canadian. $2,675.00 per bar. Humm, too rich for my blood this month. But later in the year, maybe. Gold is a good insurance policy. One of those bars would be quite nice. Would you allow any buyer (like Shiek) to have it assayed by a legitimate gemologist in front of you. No back room crap? It is just a little too much money for me to hand over to buy a "bar" of "gold" that might be drilled with lead. The huge advantage of buying from you is cash sale no transaction record. The disadvantage is the risk of being robbed, cheated or swindled.

EU

Using the convertion rate of 1 Troy Oz = 31.1034768 gr., 100 gr is equal to 3.215 oz.

http://www.golddealer.com/bullionpage.html
is selling today 100gr Suisse gold bar at US$ 2,235.

The current bars I have originate from Switzerland. They are stamped " SUISSE with the logo of the Essayeur Fondeur - Fine Gold 999,9. "
in 50 and 100 gr. bars.

 

[raydeon]

What is the stamp on the bars? Do they have a certificate?

See my reply to enduser1 above.