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Paul

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Reputation Activity

  1. Haha
    Paul got a reaction from dicker in The robots are here...   
    Once the robot has done its risk assessments, completed its LGBT diversity & sensitivity training, once it can find hate crimes on twitter, once it has sympathised with the criminals human rights and once it has sued the local force for £100k from tripping over a loose paving slab, it will be ready to hit the beat im sure & kick some criminal a$$
  2. Like
    Paul got a reaction from kimchi in The robots are here...   
    Once the robot has done its risk assessments, completed its LGBT diversity & sensitivity training, once it can find hate crimes on twitter, once it has sympathised with the criminals human rights and once it has sued the local force for £100k from tripping over a loose paving slab, it will be ready to hit the beat im sure & kick some criminal a$$
  3. Like
    Paul got a reaction from goldmember44 in The robots are here...   
    Just my bleak outlook and mistrust of the world but whats the bets they will be used for war, nefarious & evil doings first before they are used for Good ?
    Anyone seen Robocop ? Terminator ? 
    HollyWierd planting the seeds of this being normal & whats to come back in the 80s ?
  4. Like
    Paul got a reaction from kimchi in The robots are here...   
    Just my bleak outlook and mistrust of the world but whats the bets they will be used for war, nefarious & evil doings first before they are used for Good ?
    Anyone seen Robocop ? Terminator ? 
    HollyWierd planting the seeds of this being normal & whats to come back in the 80s ?
  5. Like
    Paul got a reaction from Draconicus in The robots are here...   
    Just my bleak outlook and mistrust of the world but whats the bets they will be used for war, nefarious & evil doings first before they are used for Good ?
    Anyone seen Robocop ? Terminator ? 
    HollyWierd planting the seeds of this being normal & whats to come back in the 80s ?
  6. Like
    Paul got a reaction from richatthecroft in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  7. Like
    Paul got a reaction from Roy in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  8. Haha
    Paul got a reaction from dicker in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  9. Thanks
    Paul got a reaction from Draconicus in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  10. Like
  11. Like
    Paul got a reaction from Shergar in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  12. Thanks
    Paul got a reaction from AlphaBeast in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  13. Thanks
    Paul got a reaction from Pipers in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  14. Thanks
    Paul got a reaction from Norskgeld in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  15. Super Like
    Paul got a reaction from Lr103 in Pawnbroking in UK - A guide to " How It Works & What To Expect ""   
    Inspired by another thread today, someone needing quick cash, i thought i would put together this small guide to how pawnbroking works in the UK in case anyone is ever in a sticky jam, and needs cash quick same-day and how you can use your gold to make it happen.  Hope nobody ever needs it but it is here to help  
    Pawnbrokers – How do they work ? When you approach a pawnbroker you have two choices
    1. Either to leave something valuable as security for a £ loan, for example, an asset such as a gold coin, jewellery or an antique,
    or
    2. Sell the item to the pawnbroker  
    This info below explains the first option.
    Pawnbrokers can lend money quickly BUT charge higher % rates of interest than high street banks/credit cards/overdrafts.
    What are Pawnbrokers? You hand over the item (known as a pawn or pledge) to the pawnbroker who will value it for you. 
    With the likes of a 1oz gold coin for example, it is easy to know the current market value of your item ie just look what spot price of gold is
    The pawnbroker should give you a ‘Pre-contract Credit Information form’ if you are a new customer
    A reputable Pawnbroker is very likely to ask you for valid ID (passport/driving license) and address proofs (utility bill/bank/council tax statement) to verify your identity/address
    if you’ve borrowed from the pawnbroker in the last 3 years, you can ask for this (and it’s always best to do so).
    Once valued, and loan amount agreed
    You’ll be given a "Credit Agreement" to sign - check this carefully and ask questions if you don’t understand anything. Be sure the APR % you will be paying is visible
    The agreement will set out "how long" the loan lasts and how much £ it will cost.
    It will usually be a minimum of six months (but you can agree a shorter or longer period). APR on the loan will vary accordingly, shorter period expect a higher APR,
    Unless it’s part of the credit agreement, the pawnbroker will give you a separate pawn receipt which you’ll need to keep to prove you own the item.

    You can redeem the pawn at any time, by paying back what you owe + the accrued interest and getting the item back. The pawn broker will most likely have a minimum amount of interest to be paid (i.e. x1 month)
    If you don’t repay the loan during the redemption period, the pawnbroker can sell it to recover the lent cash.
    !!! 100% ALWAYS ALWAYS ALWAYS - KEEP YOUR CREDIT AGREEMENT & PLEDGE RECEIPT - AS IT IS 100% ESSENTIAL FOR THE REDEEMING OF YOUR GOODS !!!
    There is a 14-day cooling off period, within which you have a right to withdraw from the agreement and just pay interest for the period of the credit.
    If you want to use a pawnbroker choose one that is a member of the National Pawnbrokers’ Association, which has a code of conduct for members.
    Visit the National Pawnbroker’s Association’s website
    http://www.thenpa.com/
    How do pawnbrokers work? – what you’ll pay, and how You can expect to pay a pawnbroker a rate of APR % interest that is more than a high street bank loan/credit card cash advance/overdraft, but normally a lot less than a payday loan company (Wonga.QuickQuid,Sunny etc) or door stop lender (ie Provident) or even worse yet local loan shark
    You might be quoted a monthly OR daily interest rate, although the pawnbroker MUST also show the annual interest rate and the APR ( the annual percentage rate of charge).
    A daily rate may used to make it look less % just x by 365
    and monthly rate x by 12 to check the APR's figures both tally up.
    Shop around to find the most competitive rates. An APR rate of 70% - 125% is typical
    You’ll usually repay the loan in one payment, rather than in instalments. ( ie once you have the borrow amount & interest on contract)
    If you need more time to repay, the pawnbroker might agree to extend the term and draw up a new credit agreement, although they can refuse.
    They’ll normally expect you to at least pay back the interest you owe, before drawing up another extended agreement.
    What you can pawn You can pawn anything of value that can be re-sold.
    Jewellery is the most popular item to pawn, but people have been known to pawn anything from designer handbags to an exotic or vintage car.
    For the purposes of this forum gold coins are perfect items to pawn as they are easily priced/valued against current market rate of gold spot price
    Pawnbrokers – the pros If you have a poor credit rating it might be easier to borrow from a pawnbroker than another lender, as the value of the item determines what you can borrow, not your previous borrowing/payment history
    No credit checks are done, no personal judgements are made on you. A pawnbroker, wants and values your business as it pays his wages.  
    It’s a quick service – normally you will have your money the same day.  Payment is most often wanted in hard cash
    A pawnbroker should let you redeem your goods at any time and only charge interest for the period you have borrowed the money.
    If the item is sold and there is a shortfall, the pawnbroker will usually not pursue you for this (but check whether that will be the case).
    Pawnbrokers – the cons Using a pawnbroker is an expensive way to borrow. Compared to traditional borrowing like credit cards/overdrafts/personal loans.  
    You can only borrow a percentage of the value of the item you want to pawn. So if, for example, you have a 1oz gold coin worth £1,000, you might only be able to borrow £600 against it.  You will never be offered full current market value
    What to do if you can’t pay them back If you can’t repay your loan by the deadline and you don’t want your item to be sold, you can ask the pawnbroker if they are prepared to extend the deadline, but they’re not obliged to agree.
    If you borrowed up to £75 and you cannot repay the loan, ownership of the item will pass automatically to the pawnbroker.
    If you borrowed more than £75, the pawnbroker can sell it and keep the proceeds - but they have to try to get the best value for the item, and if there’s any surplus (after the debt is paid and costs deducted such as auction costs) they have to return this to you.
    If the loan is for over £100 the pawnbroker has to tell you in advance, they are going to sell it.
    This gives you a chance to pay them and get your goods back.
    What happens if you lose your receipt If you borrowed up to £75 you can ask the pawnbroker for a ‘standard form’ which you sign to say the property is yours.
    If you borrowed more than £75, you will need to sign a statutory declaration.
    This might involve going to a magistrate or a Commissioner for Oaths, or a Justice of the Peace if you live in Scotland.
    You can also go to a solicitor, but they are likely to charge a fee for this.
    What happens if you don’t repay the debt Make sure you know the value of the item before you pawn it, that way you have evidence if you feel the pawnbroker has sold it for less than it was worth.
    First, complain to the pawnbroker in writing.
    You can use evidence such as newspaper clippings or written quotes to back up your claim.
    If the pawnbroker doesn’t respond or you don’t manage to sort out the problem within eight weeks, you can take your complaint to the Financial Ombudsman Service (FOS).
    You can take a pawnbroker to the Small Claims Court but there are fees to pay and there is always a risk that the settlement reached might not be what you want.
    http://www.financial-ombudsman.org.uk/consumer/complaints.htm
    Hope this helps anyone who might be in a temporary financial pickle  
  16. Haha
    Paul reacted to Bullionbill01 in Gold Monitoring Thread £ GBP only   
    At least we can all agree that silver is a shite investment 😂
  17. Thanks
    Paul reacted to HighlandTiger in Gold Monitoring Thread £ GBP only   
    The problems in the Persian Gulf haven't even started yet,  if it kicks off like it did during the Iran / Iraq war in the mid 80's, then be prepared for gold to rocket as Middle eastern investors try to find a safe haven for their cash.
    Very few of you will remember what was happening in the Gulf the mid 80's, Oil Tankers were being hit left right and centre by mines and exocet missiles, from both sides. I was on a BP tanker at the time, going all the way up to Kuwait, (we were all on danger money of one weeks pay per day in the gulf), and can remember a Norwegian tanker being towed out of the Gulf with half of its accommodation block  blasted away by a missile. 
    Gold rose upwards of about 15 - 20% during that period. 
  18. Like
    Paul reacted to Bullionbill01 in Gold Monitoring Thread £ GBP only   
    My guess it will slowly keep climbing up in both usd and gbp - lots of tension in the world at present and fed looking to drop interest rates to get growth moving.
    in the uk we are looking at Boris as next PM so can’t see GBP strengthen any time soon!
     
  19. Haha
    Paul got a reaction from Sovereign in Gold Monitoring Thread £ GBP only   
    in other news...

  20. Like
    Paul got a reaction from Derv in Advice on £4k Diversification   
    As most will agree here, im a black sheep a lone wolf.  I dont follow the herd. Think for yourself.  School and uni's learn you to be one of the heard another tax payer another useless eater 
    Firstly it is very, very rare you will become rich working for someone else unless you make it up the greasy pole to the top CEO etc
    Instead, create yourself a mathematical equation that "scales", then work that equation to death while acting, assessing, and adjusting along the way.
    Few people understand that all of our actions and career decisions implicitly tie us into an equation.
    This equation can be relatively simple or extremely complex.
    At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
    Equations that scale make their owners rich.
    Equations that do not, make their owners slaves to the system of “trading time for money.” ie working for a set wage each week/month
    The beauty of this equation is that you can control its basic variable parameters.
    But most people DO NOT because most people don’t even realise this equation exists as you are not taught it in school 
    If you decide to get a job at McDonalds/Tesco and are paid £10/hour — congratulations, you just created yourself an equation to which you are now bound to:
    Monetary Wealth = (rate of pay) x (hours worked)
    If you work 37.5 hours, your equation is £10 X 37.5 hrs, which equals £375
    If you go to uni and accumulate £50K in debt so you can have the privilege of earning £40K/year, congratulations, that’s your new equation.
    Monetary Wealth = (hourly salary) X (years worked)
    To complicate the mix, you are then suggested to save your money and give it to Wall Street/Stock Market.
    There you get another equation:
    Monetary Wealth = Market investments X annual ROI
    This mainstream advice is the standard prescription for mediocrity.
    And it’s clearly not a method to create monetary success in the short terms but the long term
    As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable.
    You simply cannot work x3,000 hours at McDonalds in one week.
    You cannot force McDonalds to pay you £1,000+ per hour.
    You cannot ask Wall Street to give you a +4000% return.
    There are only so many hours in a day, and years in a life.
    And herein lies the lie behind uni: Young people are told to go to uni so they can increase their PER HOUR rate from £10 to, say, £25 or even£30 may be considered a good hourly wage.
    Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making £50/hour, they make £50,000/year.
    The problem STILL remains.
    TIME CANNOT BE SCALED.
    You cannot work x1000 hours in day.
    You cannot live to be x500 years old.
    You cannot ask Wall Street to give you a +4000% return in one year.
    You cannot ask your employer to give you a raise from £50K/year, to £500K.
    Your hands are tied because the equation you’ve given yourself SUCKS.
    Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.
    This means you become a creator of relative "value".
    Value ££ is the result of people pleasing or problem solving.
    Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
    A) Your creation can eventually become separate from your time.
    You can scale your creation to a level that can change your life.
    The other metric is relative value.
    Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.
    Whatever you create, it must be relatively valuable in the global pool of options.
    This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.
    Entrepreneurship is about improving, more so than inventing the next hot thing.
    So let’s assume you invent a cool new widget that appeals to women who are mothers.
    Your equation now becomes:
    Wealth = Widget Profit X Widgets Sold.
    This is where things change.
    Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.
    So if you sell 100,000 widgets at £5 profit each, you just earned £500,000.
    If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling +4,000 units, you make £20K+ in week.
    Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.
    This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)
    Of course I’m not suggesting this is easy.
    The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.
    And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. 
    Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.) The sum is its many parts and always in development.
    (bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …
    Most of those variables listed above I can CONTROL and SCALE.
    1) Create relative value.
    2) Don't chase Money ££,  money/cash is a direct result of being a "People pleaser", a solver peoples pain points and problems.  Money is everywhere and people will gladly throw money in your direction for pleasing them and solving their pain points whoever big or small.
    3) Recognize your equation.
    4) Work the equation.
    5) Act — Assess — Adjust
    6) Repeat +
    That my friend is how you create monetary wealth QUICKLY
     
  21. Thanks
    Paul got a reaction from Serendipity in George III sovereigns   
    Not my thing - but with all the hype of the new 2017 issue - the 1817 full sovereign would be a great compliment to it
    from goldsovereigexpert web site  http://goldsovereignexpert.com/coins/1/1817-Gold-Sovereign-George-III/
    1817 Gold Sovereign : George III
    Obverse Face of a 1817-Gold-Sovereign-George-III Reverse Face of a 1817-Gold-Sovereign-George-III

    Bullion Mintage 3,235,239
    Obverse DesignGeorge III
    Obverse Text GEORGIUS III D:G:BRITANNIAR:REX F:D:
    Reverse Design St. George
    Reverse Text HONI.SOIT.QUI.MAL.V.PENSE
    The 1817 Sovereign is struck on a reverse die access.
    3,235,239 bullion sovereigns and a very small quantity of proof sovereigns were minted In 1817.
    Both the obverse and reverse faces of the coin are by Benedetto Pistrucci.
    High grade examples of this coin are always sought after by collectors.

    Spink Ref: 3785 
    Marsh: 1
    Further InformationThis is the first issue of the 'modern' sovereign that is still produced today.
    Following a substantial reorganisation of the Royal Mint by William Wellesley Pole, a range of new gold coins were approved by the Prince Regent.
    The denominations were to be the ten-shilling, twenty-shilling, forty-shilling and five pound pieces. Or, as we know them today, the half sovereign, full sovereign, double sovereign and £5 crown. At twenty shillings, the full sovereign carried a face value of £1.On the obverse face, George III wears a 'crown' of laurel leaves, hence it is described as a laureate head. The laureate is tied at the back with a ribbon and formed into a bow.
    The now familiar image of St. George slaying the dragon by Benedetto Pisctucci graces the reverse.
    His initials can be found on the ground, just under the broken shaft of his spear. Below it, on the buckle are the initials WWP for William Wellesley Pole, the Master of the Mint.The original 'sovereign', first produced in 1489 during the reign of Henry VII was a different coin altogether.
    At 15.55g, it was almost twice the weight of the modern sovereign and was minted in 23ct gold instead of 22ct which what it is today.
     
     
  22. Like
    Paul got a reaction from Tn21 in Advice on £4k Diversification   
    As most will agree here, im a black sheep a lone wolf.  I dont follow the herd. Think for yourself.  School and uni's learn you to be one of the heard another tax payer another useless eater 
    Firstly it is very, very rare you will become rich working for someone else unless you make it up the greasy pole to the top CEO etc
    Instead, create yourself a mathematical equation that "scales", then work that equation to death while acting, assessing, and adjusting along the way.
    Few people understand that all of our actions and career decisions implicitly tie us into an equation.
    This equation can be relatively simple or extremely complex.
    At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
    Equations that scale make their owners rich.
    Equations that do not, make their owners slaves to the system of “trading time for money.” ie working for a set wage each week/month
    The beauty of this equation is that you can control its basic variable parameters.
    But most people DO NOT because most people don’t even realise this equation exists as you are not taught it in school 
    If you decide to get a job at McDonalds/Tesco and are paid £10/hour — congratulations, you just created yourself an equation to which you are now bound to:
    Monetary Wealth = (rate of pay) x (hours worked)
    If you work 37.5 hours, your equation is £10 X 37.5 hrs, which equals £375
    If you go to uni and accumulate £50K in debt so you can have the privilege of earning £40K/year, congratulations, that’s your new equation.
    Monetary Wealth = (hourly salary) X (years worked)
    To complicate the mix, you are then suggested to save your money and give it to Wall Street/Stock Market.
    There you get another equation:
    Monetary Wealth = Market investments X annual ROI
    This mainstream advice is the standard prescription for mediocrity.
    And it’s clearly not a method to create monetary success in the short terms but the long term
    As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable.
    You simply cannot work x3,000 hours at McDonalds in one week.
    You cannot force McDonalds to pay you £1,000+ per hour.
    You cannot ask Wall Street to give you a +4000% return.
    There are only so many hours in a day, and years in a life.
    And herein lies the lie behind uni: Young people are told to go to uni so they can increase their PER HOUR rate from £10 to, say, £25 or even£30 may be considered a good hourly wage.
    Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making £50/hour, they make £50,000/year.
    The problem STILL remains.
    TIME CANNOT BE SCALED.
    You cannot work x1000 hours in day.
    You cannot live to be x500 years old.
    You cannot ask Wall Street to give you a +4000% return in one year.
    You cannot ask your employer to give you a raise from £50K/year, to £500K.
    Your hands are tied because the equation you’ve given yourself SUCKS.
    Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.
    This means you become a creator of relative "value".
    Value ££ is the result of people pleasing or problem solving.
    Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
    A) Your creation can eventually become separate from your time.
    You can scale your creation to a level that can change your life.
    The other metric is relative value.
    Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.
    Whatever you create, it must be relatively valuable in the global pool of options.
    This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.
    Entrepreneurship is about improving, more so than inventing the next hot thing.
    So let’s assume you invent a cool new widget that appeals to women who are mothers.
    Your equation now becomes:
    Wealth = Widget Profit X Widgets Sold.
    This is where things change.
    Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.
    So if you sell 100,000 widgets at £5 profit each, you just earned £500,000.
    If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling +4,000 units, you make £20K+ in week.
    Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.
    This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)
    Of course I’m not suggesting this is easy.
    The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.
    And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. 
    Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.) The sum is its many parts and always in development.
    (bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …
    Most of those variables listed above I can CONTROL and SCALE.
    1) Create relative value.
    2) Don't chase Money ££,  money/cash is a direct result of being a "People pleaser", a solver peoples pain points and problems.  Money is everywhere and people will gladly throw money in your direction for pleasing them and solving their pain points whoever big or small.
    3) Recognize your equation.
    4) Work the equation.
    5) Act — Assess — Adjust
    6) Repeat +
    That my friend is how you create monetary wealth QUICKLY
     
  23. Haha
    Paul got a reaction from AuricGoldfinger in Sovereigns from Harrington & Byrne.   
  24. Like
    Paul got a reaction from Au79 in Advice on £4k Diversification   
    As most will agree here, im a black sheep a lone wolf.  I dont follow the herd. Think for yourself.  School and uni's learn you to be one of the heard another tax payer another useless eater 
    Firstly it is very, very rare you will become rich working for someone else unless you make it up the greasy pole to the top CEO etc
    Instead, create yourself a mathematical equation that "scales", then work that equation to death while acting, assessing, and adjusting along the way.
    Few people understand that all of our actions and career decisions implicitly tie us into an equation.
    This equation can be relatively simple or extremely complex.
    At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
    Equations that scale make their owners rich.
    Equations that do not, make their owners slaves to the system of “trading time for money.” ie working for a set wage each week/month
    The beauty of this equation is that you can control its basic variable parameters.
    But most people DO NOT because most people don’t even realise this equation exists as you are not taught it in school 
    If you decide to get a job at McDonalds/Tesco and are paid £10/hour — congratulations, you just created yourself an equation to which you are now bound to:
    Monetary Wealth = (rate of pay) x (hours worked)
    If you work 37.5 hours, your equation is £10 X 37.5 hrs, which equals £375
    If you go to uni and accumulate £50K in debt so you can have the privilege of earning £40K/year, congratulations, that’s your new equation.
    Monetary Wealth = (hourly salary) X (years worked)
    To complicate the mix, you are then suggested to save your money and give it to Wall Street/Stock Market.
    There you get another equation:
    Monetary Wealth = Market investments X annual ROI
    This mainstream advice is the standard prescription for mediocrity.
    And it’s clearly not a method to create monetary success in the short terms but the long term
    As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable.
    You simply cannot work x3,000 hours at McDonalds in one week.
    You cannot force McDonalds to pay you £1,000+ per hour.
    You cannot ask Wall Street to give you a +4000% return.
    There are only so many hours in a day, and years in a life.
    And herein lies the lie behind uni: Young people are told to go to uni so they can increase their PER HOUR rate from £10 to, say, £25 or even£30 may be considered a good hourly wage.
    Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making £50/hour, they make £50,000/year.
    The problem STILL remains.
    TIME CANNOT BE SCALED.
    You cannot work x1000 hours in day.
    You cannot live to be x500 years old.
    You cannot ask Wall Street to give you a +4000% return in one year.
    You cannot ask your employer to give you a raise from £50K/year, to £500K.
    Your hands are tied because the equation you’ve given yourself SUCKS.
    Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.
    This means you become a creator of relative "value".
    Value ££ is the result of people pleasing or problem solving.
    Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
    A) Your creation can eventually become separate from your time.
    You can scale your creation to a level that can change your life.
    The other metric is relative value.
    Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.
    Whatever you create, it must be relatively valuable in the global pool of options.
    This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.
    Entrepreneurship is about improving, more so than inventing the next hot thing.
    So let’s assume you invent a cool new widget that appeals to women who are mothers.
    Your equation now becomes:
    Wealth = Widget Profit X Widgets Sold.
    This is where things change.
    Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.
    So if you sell 100,000 widgets at £5 profit each, you just earned £500,000.
    If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling +4,000 units, you make £20K+ in week.
    Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.
    This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)
    Of course I’m not suggesting this is easy.
    The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.
    And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. 
    Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.) The sum is its many parts and always in development.
    (bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …
    Most of those variables listed above I can CONTROL and SCALE.
    1) Create relative value.
    2) Don't chase Money ££,  money/cash is a direct result of being a "People pleaser", a solver peoples pain points and problems.  Money is everywhere and people will gladly throw money in your direction for pleasing them and solving their pain points whoever big or small.
    3) Recognize your equation.
    4) Work the equation.
    5) Act — Assess — Adjust
    6) Repeat +
    That my friend is how you create monetary wealth QUICKLY
     
  25. Like
    Paul got a reaction from lubi29 in Advice on £4k Diversification   
    As most will agree here, im a black sheep a lone wolf.  I dont follow the herd. Think for yourself.  School and uni's learn you to be one of the heard another tax payer another useless eater 
    Firstly it is very, very rare you will become rich working for someone else unless you make it up the greasy pole to the top CEO etc
    Instead, create yourself a mathematical equation that "scales", then work that equation to death while acting, assessing, and adjusting along the way.
    Few people understand that all of our actions and career decisions implicitly tie us into an equation.
    This equation can be relatively simple or extremely complex.
    At the end of the day, it will be your self-directed EQUATION that determines how much wealth you can (or cannot) accumulate.
    Equations that scale make their owners rich.
    Equations that do not, make their owners slaves to the system of “trading time for money.” ie working for a set wage each week/month
    The beauty of this equation is that you can control its basic variable parameters.
    But most people DO NOT because most people don’t even realise this equation exists as you are not taught it in school 
    If you decide to get a job at McDonalds/Tesco and are paid £10/hour — congratulations, you just created yourself an equation to which you are now bound to:
    Monetary Wealth = (rate of pay) x (hours worked)
    If you work 37.5 hours, your equation is £10 X 37.5 hrs, which equals £375
    If you go to uni and accumulate £50K in debt so you can have the privilege of earning £40K/year, congratulations, that’s your new equation.
    Monetary Wealth = (hourly salary) X (years worked)
    To complicate the mix, you are then suggested to save your money and give it to Wall Street/Stock Market.
    There you get another equation:
    Monetary Wealth = Market investments X annual ROI
    This mainstream advice is the standard prescription for mediocrity.
    And it’s clearly not a method to create monetary success in the short terms but the long term
    As you can see, the problem with “trading your time for money” or “Wall-Street” as a conduit to wealth is that the variables are extremely limited and uncontrollable.
    You simply cannot work x3,000 hours at McDonalds in one week.
    You cannot force McDonalds to pay you £1,000+ per hour.
    You cannot ask Wall Street to give you a +4000% return.
    There are only so many hours in a day, and years in a life.
    And herein lies the lie behind uni: Young people are told to go to uni so they can increase their PER HOUR rate from £10 to, say, £25 or even£30 may be considered a good hourly wage.
    Or if they go into more technical fields (STEM stuff) they get away from hourly to annual pay. Now instead of making £50/hour, they make £50,000/year.
    The problem STILL remains.
    TIME CANNOT BE SCALED.
    You cannot work x1000 hours in day.
    You cannot live to be x500 years old.
    You cannot ask Wall Street to give you a +4000% return in one year.
    You cannot ask your employer to give you a raise from £50K/year, to £500K.
    Your hands are tied because the equation you’ve given yourself SUCKS.
    Instead of trying to scale time (more debt to earn a better education to earn a better paying job under an annual salary regime) start scaling units— units separate from your time.
    This means you become a creator of relative "value".
    Value ££ is the result of people pleasing or problem solving.
    Creators produce products, services, books, information, inventions, it doesn’t matter so as long as:
    A) Your creation can eventually become separate from your time.
    You can scale your creation to a level that can change your life.
    The other metric is relative value.
    Sure your blog full of fitness tips my be valuable— but it isn’t relatively valuable because the web is filled with ‘em.
    Whatever you create, it must be relatively valuable in the global pool of options.
    This doesn’t mean you have to be the next Steve Jobs — it just means to skew value on one or two attributes; faster shipping, improved operation, better logistics, better service, better UI, better this, better that.
    Entrepreneurship is about improving, more so than inventing the next hot thing.
    So let’s assume you invent a cool new widget that appeals to women who are mothers.
    Your equation now becomes:
    Wealth = Widget Profit X Widgets Sold.
    This is where things change.
    Now you can SCALE a part of your equation. There are billions of mothers on the planet. Additionally, you control your widget operations and can fiddle with pricing, sourcing, and other operations integral to your widget.
    So if you sell 100,000 widgets at £5 profit each, you just earned £500,000.
    If a IG influencer raves about your product in IG and you get a rush of traffic for 1 week, selling +4,000 units, you make £20K+ in week.
    Your ceiling for wealth can be influenced by your execution, marketing, and decision-making. You cannot do this under a “time trade” regime.
    This is how you create wealth beyond the BS preached in the mainstream (get a job, save your money, invest with Wall Street for 50 years blah blah)
    Of course I’m not suggesting this is easy.
    The key is to change the equation, change the probability, and change your potential outcomes. Nothing is easy, but neither is getting up at 6AM, fighting traffic for 50 years, and retiring with a gold watch on 50% of your income.
    And when you move to a “unit” metric, your markets expand beyond your local city — so what not appeal locally, might appeal globally. 
    Here’s my SIMPLIFIED equation for wealth currently. (Actually it’s much larger but I think you get the picture.) The sum is its many parts and always in development.
    (bup)(bs1)(bc1) + (bup)(bs1)(bc2) + (bup)(bs1)(bc3) + (bup)(bs1)(bc1) +(bup)(bs1)(bc4) + (bup)(bs1)(bc5) + (bup)(bs1)(bc6) + (bup)(bs1)(bc7) +(bup)(bs1)(bc8) + (bup)(bs1)(bc9) + (bup)(bs1)(bc10) + (bup)(bs1)(bc11) +(roy1)(bs1) + (roy2)(bs1) + (roy3)(bs1) + (roy5)(bs1) + (roy6)(bs1) + (roy7)(bs1) + (roy8)(bs1) + (roy9)(bs1) + (roy10)(bs1) + (roy11)(bs1) + (roy12)(bs1) + (roy2)(bs2) + (roy2)(bs2) + (roy2)(bs2) + (bup)(bs2)(bc1) + (bup)(bs2)(bc3) + (bup)(bs4)(bc2) + (bup)(bs5)(bc2) + (bup)(bs2)(bc6) + (bup)(bs2)(bc2) + (bup)(bs2)(bc2) + (bup)(bs2)(bc10) + (bup)(bs2)(bc2) + (wt)(webconv)(ad1) + (wt)(webconv)(ad2) + (wt)(webconv)(ad3) + (webtraffic)(insconv)(insfee) + (inv1)(roi1) + (inv2)(roi2) + (inv3)(roi3)+(inv4)(roi4) +(inv4)(roi5) + (inv5)(roi4) + (inv5)(roi5) + (inv5)(roi5) + (inv6)(roi6) + (res)(avg-app) + val(biz1)(pe) + val(biz2)(pe) + val(biz3)(pe) + altcoins(value) + altcoins(value) + altcoins(value) + altcoins(value) + btc(value) + eth(value) + …
    Most of those variables listed above I can CONTROL and SCALE.
    1) Create relative value.
    2) Don't chase Money ££,  money/cash is a direct result of being a "People pleaser", a solver peoples pain points and problems.  Money is everywhere and people will gladly throw money in your direction for pleasing them and solving their pain points whoever big or small.
    3) Recognize your equation.
    4) Work the equation.
    5) Act — Assess — Adjust
    6) Repeat +
    That my friend is how you create monetary wealth QUICKLY