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Mcgrimes

Member
  • Posts

    375
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  • Trading Feedback

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  • Country

    United Kingdom

Reputation Activity

  1. Like
    Mcgrimes got a reaction from PhilOdgny in Store of value?   
    Completely agree, apart from the fact it looks petty as well!
     
  2. Like
    Mcgrimes got a reaction from AaaGee in Store of value?   
    Haha, but you’re a nice zealot - we all have our passions!
    By very definition, a reputable currency is a store of value (to remove opinion from the equation).
     The efficiency on each store of value clearly varies over differing time frames; and it’s too easy to cherry pick to make a point. 
    Worth noting that the downside with gold is loss of investment growth (beating inflation), and it’s a relatively illiquid asset with storage costs and high buy/sell spreads.
     Pick your assets for your investment timeframe - given the rising interest rates, I’d rather avoid a 6% mortgage than hold gold that yield nothing
  3. Like
    Mcgrimes got a reaction from TommyTwoShots in Store of value?   
    A store of value is literally just that - something of value that is stored. 
    Your house is a store of value, your bonds are a store of value, your blue chip stocks are a store of value, your pound notes are a store of value…. They’re assets.
    There are some zealots that will argue that only PMs are true stores of value, because they want and need to you believe the same.
    The relative value of each asset will vary. The benchmark is performance against inflation, but everything experiences volatility based on supply and demand.
    Currency is a great store of value in the short term, but is eroded by inflation if left under your bed. 
  4. Like
    Mcgrimes got a reaction from Tortoise in Store of value?   
    A store of value is literally just that - something of value that is stored. 
    Your house is a store of value, your bonds are a store of value, your blue chip stocks are a store of value, your pound notes are a store of value…. They’re assets.
    There are some zealots that will argue that only PMs are true stores of value, because they want and need to you believe the same.
    The relative value of each asset will vary. The benchmark is performance against inflation, but everything experiences volatility based on supply and demand.
    Currency is a great store of value in the short term, but is eroded by inflation if left under your bed. 
  5. Like
    Mcgrimes got a reaction from Anteater in Store of value?   
    A store of value is literally just that - something of value that is stored. 
    Your house is a store of value, your bonds are a store of value, your blue chip stocks are a store of value, your pound notes are a store of value…. They’re assets.
    There are some zealots that will argue that only PMs are true stores of value, because they want and need to you believe the same.
    The relative value of each asset will vary. The benchmark is performance against inflation, but everything experiences volatility based on supply and demand.
    Currency is a great store of value in the short term, but is eroded by inflation if left under your bed. 
  6. Like
    Mcgrimes got a reaction from dicker in Stolen gold   
    Those bars look like novelty items. I wouldn’t be airing the fact that I store bullion at home home if I did get burgled.
     Can’t help but have my suspicions
  7. Haha
    Mcgrimes reacted to honestinjun in Gold, Silver, Stocks, Cash or Equities?   
    My time is too valuable to waste with someone who thinks currency is money.
    Goodnight.
  8. Like
    Mcgrimes got a reaction from MonkeysUncle in Gold, Silver, Stocks, Cash or Equities?   
    How can a metal with very limited industrial use that can be mined from the ground be used as a store of value?
    Money is a store of value, because you can use it to procure products at a later stage. I’d argue currency was created with store of value being one of its prime purposes.
    Money can be printed (inflated), but so can gold by way of increasing supply. Granted, money is easier to inflate on a larger and more readily available scale.
    But scarcity doesn’t necessitate value.
  9. Like
    Mcgrimes got a reaction from Griffo in Discolouration on Gold Bars?   
    Gents
    Just to update, the brown spot was instantly removed with a flick of the flame from my butane jewellers torch. I’ve posted a picture of the same bar originally done so, but with said spot removed
    Thanks for the advice

  10. Like
    Mcgrimes got a reaction from Griffo in Discolouration on Gold Bars?   
    I was concerned of fakes or manufacturing errors! I’m going to heat one up as recommended and see what the results are
  11. Like
    Mcgrimes got a reaction from Griffo in Discolouration on Gold Bars?   
    I disagree with a lot of what you said. I didn’t elaborate on the delivery being to the wrong address, which I was displeased with. I didn’t expect them to be carded, I was happy for them to be loose. But the quality of the carding is poor. But surplus to requirements why I kept them.
    I didn’t expect them to be ‘perfect’, but they’re not as good quality as the other Baird products I have purchased, I’ve never had this staining on any other product before. That’s the main concern here.
    I don’t recall the premium, but I was happy with the price I paid. But the premium was higher than on the 2.5g, 5g, half ounce bars, which all display better quality 
    I bought 1g bars because I wanted to. That’s the only reason. 
    Low quality referring to the quality of the card, which isn’t as good as the other Baird products. The detail on the bars and subsequent  discolouration is, to me, of low quality.
     
    appreciate the notes on the red spots. I’ve got a jewellers torch which will get it up to temperature, I’ll let you know how I get on!
    Otherwise, been happy with previous purchases of 1g gold bars. As I say, I’ve never seen red spots before and my first thought was ‘fake’ - not that I’d suggest there were any nefarious motives. I’ll remove reference to the supplier as to not cause concern, generally
  12. Like
    Mcgrimes got a reaction from Griffo in Discolouration on Gold Bars?   
    Did some Googling and happy if this is just copper, I might follow the advice to heating to red hot, more out of interest than anything. 
    Id say it’s sloppy packaging, but given its low price I do consider bullion and did so at the time.
    The cards are low quality compared to others. I didn’t expect them carded
  13. Sad
    Mcgrimes got a reaction from Griffo in Discolouration on Gold Bars?   
    About 2.5 years ago, I bought a not insignificant number of golds bars from a supplier. I wasn’t happy with the delivery, generally, as the certicards were low quality (easy to open, marked, stressed around corners turning white). In all cases, I kept them as they were reasonably priced compared to other dealers, and it was the height of covid.
    Ive still got most of these bars of gold, and today I got my collection out for inspection/inventory and noticed some discolouration on the bars. I don’t recall this being present about a year ago.
    The first picture shows a carded bar, where the bar was inserted upside down, with a small discolouration mark near the 1g. The second pictures shows a different bar with a slight discolouration on the reverse. I have a few bars like this, all 1g bars, with discolouration and generally low quality. 

    Ever see this before?
    If these weren’t straight from such reputable supplier, I’d never of accepted in the first place.


  14. Thanks
    Mcgrimes reacted to Stuntman in Discolouration on Gold Bars?   
    Nice work 😊
  15. Like
    Mcgrimes got a reaction from Tortoise in Spot price tanked   
    Having some dollar holdings really changes the perspective on the GBP price movement of gold doesnt it!
  16. Thanks
    Mcgrimes reacted to GoldDiggerDave in Discolouration on Gold Bars?   
    In interesting read thanks, so many call it "copper spots" but it should be impossible for it to be copper in 999 or even 9999 gold, especially if the 001% or 0001% is made up of numerous elements, I doubt if copper is actually detectable in some cases. 
  17. Thanks
    Mcgrimes reacted to Mobius in Discolouration on Gold Bars?   
    According to this research, it's silver (in the form of silver sulfide) - not copper, either from the atmosphere at the mint, or the creation of the blanks.
    http://projects.itn.pt/Corregidor/18.pdf
  18. Haha
    Mcgrimes reacted to Ukbullionfan in Discolouration on Gold Bars?   
    Omg that’s so bad I would be scared and worried , get your phone asap and ring 9…… erm 101.
  19. Like
    Mcgrimes reacted to SilverPlatinum in Discolouration on Gold Bars?   
    I personally do not recommend cleaning the bars (or any coin).
    We know those are copper spots because the purity is not 100%.
    If you do not like them anymore then you can sell them and buy different gold coins/bars.
     
  20. Like
    Mcgrimes reacted to GoldDiggerDave in Discolouration on Gold Bars?   
    I see it all the time in fine gold just strange  when you think about it as it should be 999/1000 gold  the 1 part could be made up of lots of different metals potentially, I've seen horrific copper spot on proof gold brits the are 999 gold.  Are the copper spots actually copper? 
  21. Like
    Mcgrimes reacted to dicker in Discolouration on Gold Bars?   
    I have 999 US Coins that have copper spots.
    Perth mint bars / coins - none
    Particularly my observation is that I have no cast bars that have copper spots. 
  22. Like
    Mcgrimes reacted to GoldDiggerDave in Discolouration on Gold Bars?   
    You would think 999 or 9999 gold would no have any copper present or in such tiny amounts it would not be a factor. 
    I've seen 9999 gold "copper spot"  is it really copper or a similar or the same reaction as milking in silver thats caused by certain chemicals?  
    Understandable in 22ct gold/copper alloy but in fine/pure gold.    
  23. Like
    Mcgrimes reacted to dicker in Discolouration on Gold Bars?   
    Yes I have seen this before on coins (copper marks).
    I have bought coins from Baird before with no issues.
    Whilst I think it’s poor to present a “bar” upside down, it’s just bullion.
     
     
     
  24. Like
    Mcgrimes reacted to LawrenceChard in Discolouration on Gold Bars?   
    This sounds more like a problem with expectation.
    You paid a lot of money for them, so you expect them to be "perfect". If you were not happy with the certicard packaging, then it would have made sense to query this with Bairds ar the time. Some trade-off is understandable because you bought some of the cheapest 1 gram bars around, you say; although these is no guarantee that paying a higher premium would have got you better packaging.
    You did not mention what percentage premium you paid. Do you know?
    I also wonder why you bought many 1 gram bars when you would have got a lower premium on a smaller quantity of bigger bars.
    I make the asumption that you bought them as an investment. It might be worth you reading this:
    https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041
    Buying packaged bars also means you would have paid a higher premium than "naked" bars. If you wanted them as gift items, this might be worthwhile.
    I don;t understand what you mean by "generally low quality."
    There is no reason to doubt the quality / fineness of the gold. It is difficult to tell from your photos, but if they are marked 9999, then they will be 99.99% fine gold.
    The discolouration is the well -known, perhaps infamous "red spot", and yes this can even affect 99999 or 99.999% fine gold.
    Here is more reading:
    https://www.chards.co.uk/blog/red-spots-gold-coins/775
    But that page was originally written with 900 or 916 gold in mind.
    There are also many other websites, and YouTube videos discussing it, including at least 2 TSF topics:
    and
    Any of which may help.
    It is easy to remove red spot on fine gold (99.9+%), just heat it to red heat, then let it cool. This works almost every time, although I have experienced very stubborn red spots on at least one occasion. Of course, it is better to remove them from the cards to do this.
    If none of the above helps, then remember nothing is ever perfect, including life.
    And... whatever we are going through is probably much better than most Ukranians are going through.
    Bairds are a competitor of ours, but I have no reason to doubt them, which is more than I could say about some of our competitors.
    😎
  25. Like
    Mcgrimes reacted to LawrenceChard in Discolouration on Gold Bars?   
    There is no need to remove the reference to the supplier. It is good useful information for current and future readers.
    No reasonable dealer would be offended at being mentioned, and your questions were even-handed, and a sensible approach to help you get more information, opinions, and answers. You never know, if they ever look at TSF, they might be inclined to post a response.
    😎
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