15 Kilos is 482 troy ounces. I don't think it is foolish because there are some serious consequences for stealing in Dubai but I would have kept it until at least there was a good size reward for finding the lost items (10% value at minimum). In the end all he got was a plaque award for his honestly OMG they could have at least given the poor man yearly salary as a cleaner. I recall several years ago I was self check out at ASDA and somebody in front of me done a cash withdrawal £50 forget to take their money. I put my groceries on the counter and ran after the man to hand him his cash. As soon as he realised his error he snatched the cash out of my hand and walk away without even a thank you. I felt gutted after handing him the cash that I simply did not keep it. Honesty the best policy but only with people who are genuinely appreciate you and are thankful for your honesty but you can never ascertain this beforehand IMHO.
With the recent surge in the gold price and like many of you I’m wondering when it will stop rising.
Ive started to buy antique gold rings, the plain bands which sadly many seem to be antique wedding rings, mostly 22ct gold and a few 18ct gold.
I know they’re not as nice to look at as a new sovereign or a new Krugerrand but with sovereigns slightly out of reach of my budget at the moment being £275+ each, I seem to be able to buy antique rings for around spot price.
If the gold price does continue to grow it could be a wise investment.
Gold is gold after all.
I have an idea of getting silver without spending too much money.
If 1 person wants 100g of silver, he will have to pay £70.
If 20 people want 100g of silver, they will have to pay £70 each.
But if 1 person has a friggin huge drill you can get it all for free
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,
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
Hello fellow SilverForum members.
What's in the box?
Just received a mystery package from the UK sent by fellow YouTuber "Gold Digger Dave". Dave and I have agreed we will send each other a mystery package each month with surprise coins.
Have just uploaded a new video to my YouTube channel showing the opening of the mystery box I received just yesterday.
Here is the link to my channel. I hope you take a look and enjoy. As always it would be great to hear what you think.
Thanks for reading.
I bought this pristine Mexican gold Libertad from Atkinsons. I was shocked to later discover the Banco de México has issued only 1,250 of these coins worldwide. The obverse features a sculptural relief design of the National Shield, encompassed by the legend "Estados Unidos Mexicanos" (United Mexican States). The reverse depicts two key symbols of the Mexican people: Winged Victory in the forefront and the Mexican volcanoes Popocatépetl and Iztaccíhuatl in the background.
So in order for me to feel like I have properly completed a tube of Krugerrands, I had to buy the 2017 PU edition too. But they are so overpriced its ridiculous. However, somehow I snagged this beaut for a very reasonable price! I'm pleased!
Mostly scare stories that I have seen. The AMA I think it is has a calculator of how much colloidal silver you can consume on average daily depending on weight, age etc without suffering any skin discoloration. It's conservative imo but if you average it out if you don't take it daily (don't see much point myself, or just have a little e.g. 5ml - a teaspoon, or just use it to disinfect your home, rinse veg etc) then when you get really sick you can safely take loads of the stuff. The only problem is cost to buy, that's why I make my own.
It's only hearsay but one idea is that the royals are 'blue bloods' because of their use of silver cutlery over many years, 'born with a silver spoon in their mouth' etc, giving them pronounced blue veins. I reckon that's partly blood type though as I have the same. But some also say that is why the plague did not get many of them in the 1600s.
Good point about the skin discolouration. A relative used to wear a copper wristband and that area turned pretty green over a number of years, but reversed quickly. There must be something about pure copper compared to silver and gold because folk simply don't get that with gold and silver jewellery etc as far as I've seen.