sureley this is a good idea / poss not

[craig12]

would it not be a good idea for members to get together to buy bullion? ok its fraught with problems I know but lets take a scenario for me :

lets say there were 5 members in the south Yorkshire area wanted to buy a sovereign or whatever,

the 1 price is well over  spot

the 1-3 isn't too bad

but if you buy 5 then the spots more bareable , could it not be feasible to collect 5 payments from members in the same area , buy at the 5 discounted rate  then share the coins out  1 each 

just a thought I know it needs a lot of work but maybe a meet up in a local pub to iron out the formalities

buy 1  get the price for 5

simples

[Danny-boy]

We have already been doing this, latest with the 1/2oz sharks.

[craig12]

sorry wasn't aware this was something in place

[Danny-boy]

Not at all mate.

If you have an idea for a group buy and are willing to organise, post it up.

[doogs]

It's a good idea but I think forwarding on postage for the five parcels might outweigh the benefits.

[craig12]

id like to know if in the south Yorkshire area  there are any members wanting to purchase around £250 each not sure how it works on a pub meet up  but the internet seems so cold , nobody knows anyone,  im not sure how it could be orchestrated but if 1 member paid for them and got a receipt then members could pay him back after receipt of coins, poss on visa cards for added protection   not sure how it would work but if all parties are honest there would be great deals to be had

[craig12]

I think postage would have to be to one property   this relys on trust between friends and honesty

[craig12]

I think this is the only way

one person buys the 5 coins (if anything goes wrong he is happy and can afford to keep the 5 coins)

each member pays him for his coin in cash and he hands over the coin , if they don't show then he has extra coins for himself,

this idea I think only works if the main buyer isn't struggling to pay for bullion

[motorbikez]

Simple thing to do is make everyone pay a 10% deposit, parting with cash concentrates the mind then if anyone doesn't come up with the rest of cash for ANY reason, organiser keeps the deposit NO excuses.

[Danny-boy]

Best for people to pay upfront no?

Unless you are only after one or two coins, there is no significant saving to be made on a group buy unless special rates are negotiated.

[morezone]

If the coins have to be forwarded, then there isn't any benefit as the Special Delivery charge would eat the savings which has been gained during the group buy.

 

It only works if you are buying from abroad where there are higher delivery charges which can then be split between a few of you.

 

It works with the Sharks because it's £15 delivery from Germany.  The cost to forward the coin in the UK is less than £1 for 1.

[ChrisSilver]

There is another forum, south gipsyland bullion who organize group buys regularly. There link is in the link exchange box on the right column of the main page. They are in Australia though. But they will ship to UK, so there are possible deals there.

If collecting money for a group buy in cash and then paying into a UK bank account you will have to be very careful, too much cash being paid into your account will alert the tax man. And it probably counts as running a business as you are buying and selling, even if at the same price you purchased. And eventually your turnover would mean you would have to charge people VAT on all silver purchases.

For small local group buys it might be worth it, two or three people can get together and order 2 or 3oz of gold for example, or 2 or 3 tubes of some silver coins. And the money isn't such a large amount to get in cash. You just have to find the willing party who will organize it all.

It also may not necessarily be cost beneficial. For example where I live a travel card costs about £12 or something. The same price as the minimum delivery charge on silver to go. So is easier if just purchase a tube of something myself rather than participating in a local group buy of silver from silver to go.

So a group buy may be, or may not be worth it. It depends on different factors which should be taken into consideration.

[Pete]

There is no benefit on a group buy in gold as you will have to ship individually by Special Delivery wiping out the discount.

 

There are possiblities however in silver.

Sellers like Silver-to-Go and Aurinum for example set their shipping costs according to the value of the order.

Maxing an order to the shipping price break gives the best price per ounce.

If someone is placing a decent order but adds to this order and averages the cost of shipping it might work.

 

Another possiblity is to buy in the USA from Apmex who set a minimum order value of $1500

Sharing an order enables people to buy who otherwise would be deterred by this high min. order value.

 

Taking into account payment issues, risk and local delivery etc. not many people would be willing to take on this task in my opinion unless it was made worthwhile.