Goldsilver.be

[scubajunky]

Hi all,

Has anyone used this outfit ? 

I was going to purchase from the European Mint today but when I called I was not inspired by the person I spoke to who actually contradicted herself twice.

I like the fact that Goldsilver.be has bullion (  bars ) also which is what I would like to buy.

Has anyone used them ? 

Anyone paid for Silver with them through Revolut ? I'm assuming that would save some extra euros, is it straightforward to do so ? 

There seems to be no information on the site about postage etc 

Any help much appreciated.

I'm thinking of getting a 1kg coin.

 

[Pete]

If you search this site you will find numerous references to GS.be

I buy from them regularly and have no hesitation in recommending them for great prices and very good service.
Perhaps it is because I am registered but the cost of shipping appears every time I add to my basket and the price drops as the order value increases.
For a 1kg bar or coin the shipping charge to the UK might be around €18 but check.

[scubajunky]

Also the price of the coin is Eu 481 for a 1kg coin.

Silver spot price is Eu 408 per kg at this moment.

Seems to be 17% difference. Is there always a mark up like that ? 

So Silver would have to rise 17% before i could make any profit ? 

Or am I being dumb  ?

[scubajunky]

Thanks Pete, how do they deliver ? 

 

Sorry, i found their info page now. Thanks.

[PansPurse]

They're pretty well known. I'll summarise what I've gathered:

V big, possibly biggest bullion dealer in Europe. Consequently tend to have v low if not lowest prices.

Experience seems very mixed. Some love them, some have had quite poor customer service.

One of the two bullion dealers @BackyardBullion uses for the group orders.

Re the markup. There's always some premium over spot and best bet is to shop around to find out what the best prices are. Yes a bullion dealer will typically buy off you for just under spot, but you can usually sell to other stackers/collectors for a better price

[scubajunky]

I see, thanks for that I just thought 17% over spot price sounded high.

Are there other dealers I should consider or just the European mint and these ? 

Also will it be impossible to sell Silver if it shoots up in price a lot ? like who will buy it ? 

[PansPurse]

I've had good experience with Eldoradocoins, although they're a small fish and their stock can be a bit limited (me and @StackerNoob cleared them out of 10 ouncers a few months back)

[StackerNoob]

17 minutes ago, PansPurse said:

I've had good experience with Eldoradocoins, although they're a small fish and their stock can be a bit limited (me and @StackerNoob cleared them out of 10 ouncers a few months back)

Totally agree with eldoradocoins.de as an option. They dont get enough press in my opinion. They are relatively cheap and postage is amazing, plus no bank transfer fees for us in the UK! For small to medium sized orders, they are my pick over goldsilver.be, europeanmint and coininvest.

Also, I have just noticed something else about eldorado coins. They supply orders of 10 or more coins of the same type in original mint tubes! Thats awesome! AND they have the cheapest 2018 1 oz libertads on the market right now, £15.31 per coin if you order 10 or more. So 10 1 oz silver libertads, original mint tube and delivery for less than £160. Thats amazing

[kimchi]

As @Pete says search this site for sellers (and coins) you might be interested in - I made that mistake myself recently using BNT who have wasted a couple of months of my time and potentially hundreds of pounds on very high premium gold coins (luckily I have a loupe and check them carefully).

I sometimes use Goldsilver but I've come to expect the worst quality coins, I certainly wouldn't order something at such a premium (that I would hope one day to get back) from them. I only use them for lowest priced pure bullion. I know others have had good coins and are fairly confident using them so maybe it's me.

If they are not the cheapest, you can speak to European Mint and mention @BackyardBullion and ask very nicely - they might be able to do a little something on price for you (only on certain coins) because of the goodwill he (BYB) has built up with them from the forum orders. If they can do anything there do thank them (and BYB).

I definitely wouldn't recommend El Dorado - only because I'm trying to keep them a secret between just a few of us lol Absolutely flawless dealing with them and top postage etc to the UK, super helpful, a relative newcomer to the scene and shaping up to be a great seller

[Pete]

8 minutes ago, kimchi said:

 I definitely wouldn't recommend El Dorado - only because I'm trying to keep them a secret between just a few of us lol Absolutely flawless dealing with them and top postage etc to the UK, super helpful, a relative newcomer to the scene and shaping up to be a great seller

I agree as I was really pleased at the service and efficiency from ElDorado.
Big attraction is the shipping cost on low value orders compared to the minimum €20 charged by others.
I also understand they have a UK bank for payments so no need to use Transferwise and others.
Having looked at their website however they do list a reasonable selection of coins that aren't priced so I guess not available.

[Pete]

56 minutes ago, scubajunky said:

Also will it be impossible to sell Silver if it shoots up in price a lot ? like who will buy it ? 

Some of us old-timers on the forum recall silver around £30 per ounce and if a Kookaburra or Britannia was listed on eBay at a Buy-it-Now of say £35 it would sell in minutes.
Silver was rising and all the PM experts were predicting even much higher prices and you would have no trouble selling, indeed there was a frenzy in buying.
Unfortunately many of us piled into this commodity hoping to sell in the future to fund an easy life and now look at the price.
Does that answer your concern ?

[BackyardBullion]

@scubajunky i have never had any issues with GS.be - they are a great company to buy from in my books. 

As to the EU mint, the owner is on holiday at the moment, call back on 25th August and he will sort you out, tell him I sent you and he might give you a discount on shipping if you ask nicely!

[Martlet]

I used Revolut last order, as Transferwise seem to block them again after saying they fixed that problem.  This may not be as convenient as direct GBP bank transfer that GS.be now offer, but its better exchange rate so a few % saved.  the €18 postage is about the same as anyone in Europe except Eldorado (how/why they do it cheaper?).  Cheap and wide range, only problem i've had was my own error which they sorted quickly. 

[Pirocco]

I don't get why that "markup" is criticized specifically for goldsilver.be, coins (or anything, also bars, with a legal tender currency nomination) cost that much above spot, and this dealer has by far the cheapest prices in the region NL/BE/GE. Just check for yourself: other dealers are TheSilverMountain, AmsterdamGold, Doijer & Kalff, Zilvergoudwinkel and a dozen more, smaller ones.

First I bought in NL, later on cheaper in Germany, but some tax change wiped that advantage, and then I discovered goldsilver.be along a larger local secondhand stuff site, and I started (upto present) buying there.

So far not any bad experience. Sometimes they ship from a German address, they have some building there close to an airport. It's all well packaged and fast delivered. I have good experiences with the other above listed dealers too, except the first, where packaging was several times awkward, where a 10 kilo coin was clearly taken out of its capsule, and capsule some scratches, dirt in it, and stock promises were not met. No big complaints, still it shows some lack of care.

But the main plus is that they are...cheapest.

I mostly bought bullion coins, phils, maples, lunars, lowest price tags, only a few specialties like colored lunars, but even then they were by far the cheapest. My last orders were last weeks, new zealand athenian owls and lunar 2018 2dog kilocoins.

So far never had any damage to the coins.

For which products did you experience damages kimchi?

[Blockhead]

7 hours ago, PansPurse said:

I've had good experience with Eldoradocoins, although they're a small fish and their stock can be a bit limited (me and @StackerNoob cleared them out of 10 ouncers a few months back)

Thanks. I've just placed a small order with them for some Chinese Pandas. If all goes well I'll probably get a few of their cheapest silver coins next month, or get myself on the next BYB group order. 

I'll share how I get on

[StackinJack]

They delivered me a package with a sticker which said: Handle with care, medical

They got it right, it was soothing my addiction.

[StackinJack]

4 hours ago, Pirocco said:

I don't get why that "markup" is criticized specifically for goldsilver.be, coins (or anything, also bars, with a legal tender currency nomination) cost that much above spot, and this dealer has by far the cheapest prices in the region NL/BE/GE. Just check for yourself: other dealers are TheSilverMountain, AmsterdamGold, Doijer & Kalff, Zilvergoudwinkel and a dozen more, smaller ones.

First I bought in NL, later on cheaper in Germany, but some tax change wiped that advantage, and then I discovered goldsilver.be along a larger local secondhand stuff site, and I started (upto present) buying there.

So far not any bad experience. Sometimes they ship from a German address, they have some building there close to an airport. It's all well packaged and fast delivered. I have good experiences with the other above listed dealers too, except the first, where packaging was several times awkward, where a 10 kilo coin was clearly taken out of its capsule, and capsule some scratches, dirt in it, and stock promises were not met. No big complaints, still it shows some lack of care.

But the main plus is that they are...cheapest.

I mostly bought bullion coins, phils, maples, lunars, lowest price tags, only a few specialties like colored lunars, but even then they were by far the cheapest. My last orders were last weeks, new zealand athenian owls and lunar 2018 2dog kilocoins.

So far never had any damage to the coins.

For which products did you experience damages kimchi?

I totally agree.
But unfortunately, I had some damaged goods with one of the NL dealers.
I'm not going to name & shame, but I hope to get some new ones delivered to me this week.
Check my post I submitted 30 minutes back 'what is acceptable?'

[Pirocco]

For the record, the "spot" price is the per-ounce price of a so-called "Good Delivery Silver Bar".

http://www.lbma.org.uk/assets/market/gdl/GD_Rules_15_Final 20160816.pdf

9. Specifications for a Good Delivery Silver Bar
The physical settlement of a loco London silver trade is a bar conforming to the following
specifications:
Weight:
minimum gross weight: 750 troy ounces (approximately 23 kilograms)
maximum gross weight: 1100 troy ounces (approximately 34 kilograms)
However, it is recommended that ideally refiners should aim to produce bars
within the following weight range;
minimum gross weight: 900 troy ounces (approximately 28 kilograms)
maximum gross weight: 1050 troy ounces (approximately 33 kilograms)
Bars produced prior to 1 st January 2008 having a weight in the former wider
range of 500 to 1250 troy ounces will continue to be acceptable for the time
being though it is expected that these will eventually be phased out when the
number of such bars in the London vaults has declined to nearly zero.
The gross weight of a bar should be expressed in troy ounces in multiples of
0.10, rounded down to the nearest 0.10 of a troy ounce.
Dimensions: the permitted dimensional ranges for a Good Delivery silver bar are as
follows:
Length (Top): 300 mm +/- 50 mm Undercut: 5o to 15o
Width (Top):
130mm +/- 20 mm Undercut: 5o to 15o
Height:
80 mm +/- 20 mm
Fineness: the minimum acceptable fineness is 999.0 parts per thousand silver.
Marks: Serial number (see additional comments in section 7 above)
Assay stamp of refiner
Fineness, expressed to either three or four significant figures
Year of manufacture (see additional comments in section 7 above)

A large lump silver bar, with rather a large tolerance in specifications.

That is alot cheaper to produce than a number of 1 oz coins.

A minting company can thus buy such Good Delivery Bars, pays "spot price" for it, then melt and process it until it's "transformed" into a number of coins. All that extra work, explains the spot + X% of coins versus spot itself.

[Pirocco]

On 22/08/2018 at 15:51, scubajunky said:

Also the price of the coin is Eu 481 for a 1kg coin.

Silver spot price is Eu 408 per kg at this moment.

Seems to be 17% difference. Is there always a mark up like that ? 

So Silver would have to rise 17% before i could make any profit ? 

Or am I being dumb  ?

 

1 month ago I purchased 6 such kilocoins at a price of Eu 502,88

Today one can buy them at Eu 478,79

I thus paid todays spot Eu 407,86 +23%

And years ago, spot $32, I paid todays spot + 96%, for way more oz.

To illustrate that dealer "mark ups" can easily be overclassed by spot price change.

Btw, the same kilocoin costs now at TheSilverMountain Eu 498,00

While goldsilver.be is now 478,79, being 4% lower than TSM.

 

[Abyss]

I have purchased twice from Goldsilver.be and not had any issues. Recently due to GBP/EUR exchange rate fluctuations I had underpaid GS.be (small amount under 1 Euro). and I sent them an email and the kindly replied did not need to worry about it.

Only word of caution with Goldsilver.be you/family member is home when delivery happens as they use Yodel courier in the UK.

 

[scubajunky]

Great Info, thanks everyone. I might take a serious look at Eldorado Coins

[scubajunky]

GoldSilver be seem to be 1Eu under the price for the cheapest coins on their and eldorado website.

[caloundracats]

Maybe, but factor in the postage costs. Then decide.

[scubajunky]

Is a 1kg coin a bit OTT for your first purchase  ?