Bitcoin Forum

I've read something about possibly buying gold with Bitcoins, is this true?

Has anyone else done this & is it getting common?  What exchanges offer this kind of service?

Any more info on this subject would be greatly appreciated.

Check out the Coinabul link in my signature :)

I've purchased from them many times and have been blown away each time.  Highly recommended.  I always look to buy from them first simply because I trust that I will receive my shipment.  Checkout is a breeze.  I also highly recommend creating an account so you can track your order status.

Hi JohnnyScience,

Both myself, MyBitcoinMint.com, and Coinabul.com sell gold and silver bullion in exchange for Bitcoins. Admittedly, Coinabul is the current market leader and sells gold and silver bullion/coins/bars/etc. We sell silver and gold coins that physically resemble the Bitcoin image. Our prices at the moment are within ~2.5% of each other (our prices are currently price pegged to USD, Coinabul has priced at a floating spot rate).

Wow great info, I will look into both websites.

So these are smaller companies that have just emerged within this market?  Are you the sole owner/employee etc?  Just wondering how big these bitcoin to gold exchanges are.

Do you offer "normal" gold bullion not in the shape of a bitcoin?

Is the ordering/checkout/shipment process for both websites very secure & anonymous?

Once the order is placed with bitcoins how long before it's shipped & how is the bullion actually shipped?  (is it shipped insured?)

I am the sole owner/operator for MyBitcoinMint, and at the moment we do not offer typical bullion products (Coinabul does, and is definitely respected in the community).

Our site only accepts Mt Gox BTC codes at the moment, we're making changes to accept all BTC payments. However, if you're interested in something, send me a PM and we can do a simple BTC transfer. We can keep it as anonymous as you'd like, as long as you let me know where I need to ship it :) And yes, we do insure our shipping, and wouldn't take longer than 1-2 business days.

I'll let Coinabul and his customers talk on his behalf :)

If you are based in Europe, then have a look at both http://bitcoincommodities.com/ (http://bitcoincommodities.com/) and http://www.btcgold.org/ (http://www.btcgold.org/). Both ship from within Germany. I used both and have good experiences with them.

um, if you are getting physical goods shipped to you....it is a bit hard to be anonymous :)
especially insured consignments that require a signature on delivery :)

Don't forget Shire Silver (http://shiresilver.com). We make cards that fit in your wallet that contain silver and gold. They are smaller units than typical bullion, and are designed to be used as an alternative currency. The smallest gold denomination we have, which is the smallest physical gold trade unit on the planet, is only about $4 or less than half a bitcoin.

Thank for thus links.

Ill try these out and let you know how I get on!

we are accepting also bitcoins now

http://goldexpert.com/

Coinabul has a nice selection.

I have ordered twice from coinabul.....first time the order was quick and easy. I've been waiting almost 3 weeks for my 2nd order though.... I Just emailed for an update. They usually respond quickly.

TraderSteve (http://goldstarbullion.com/) sometimes has a better price  because he uses a different price algorithm, but he just sells random 1oz rounds.

We've had some delays this month. Orders are moving quickly again now :)

WoW,I didn't know that you can buy gold with bitcoins  :o
I will have this in mind though.Thanks.

You are much too kind! I also enjoy your new website, I don't remember it being like that before.

Anyways, Coinabul has been around for a year now. We'll have been open to the public for a year in 9 days! (Woo!)

We have not had a single customer lose their order or anything else sketchy. We've had a couple run-ins with Customs, but we've always gotten the orders to the right place. We believe in fair prices and good customer support. We're going to be here for much longer than a year, I can tell you that :)

We're also the only business currently trusted enough by Mt.Gox to be verified by their merchant program. We're publicly known, a legal company, and all that good stuff to keep us honest.

Let me know if you have any questions about our site or any of the products! Some of the coins have quite an interesting history!

Cheers,
-Jon

I have bought off a couple of these sites with no problems.  The prices are quite a bit higher than spot price but thats what you get when you buy physical gold.

Also Casascius coins (https://www.casascius.com/) for 10 BTC silver 1 oz rounds (2 types) & 1,000 BTC 1 oz fine gold rounds :P

Highly recommended! If you wish to combine PMs with BTC together in a single physical item.

I am willing to sell my gold rounds empty without the 1000 BTC.  They are, naturally, 1000 BTC cheaper that way.  The back is blank with a recess for the private key, the same as if you bought the round and peeled and redeemed the key.

so what weight og gold is that?  and how much?

1oz .999 fine gold, $200 over spot. Includes a capsule, custom acrylic Bitcoin ring, and a presentation box.

This is a custom-made Casascius Coin denominated as 1000 BITCOINS.

I recently received an order from Bitcoincommodities.  Exactly as ordered.  Less than 1 week shipping (international).  All round, good service.

I am still azwaiting an order from BTCgold.org.  Its been 2 weeks and their customer service is ignoring me now.  They were recommended on here so I thought I would give them a go. Ill report back if the mercahdise ever shows up!

:(

Not looking good.  I have now been ignored for 3 days.  My original enquiry told me my order was in process and to check on the site, despite there being nothing there.  I have emailed numerous times and have been ignored each time.  It looks as though Ive been ripped off.

I should have know better as the site has a mix of stuff and doesnt really look like a pro gold selling site.  Oh well, you live and learn.  If anything turns up I will report back and apologise for not being patient!

I ordered a 1/10th oz Canadian Maple Leaf Gold Coin from Coinabul, September 14th and it still isn't here yet. What's worse is I e-mailed Jon yesterday about it and have heard nothing back. I'm assuming the 'fake gold tungsten' ordeal has set them back in getting products to their customers, but benefit of the doubt only lasts so long.

I also tried to get info from coinabul, bitcoincommodities and btcgold.
None of them answered my question.
I personally believe they just keep the BTC, because they are anon and can't be refunded.
I would really like to switch to real hard investments, but it's not easy to get money from BTC here in Germany...

Alternatives, please?

I ordered from bitcoincommodoties and my order arrived within a week (international order).  I will deal with them again.

If I were in your shoes, I'd still have no problem giving Coinabul the benefit of the doubt.

I've placed 5 or 6 orders with them.  All have arrived.  The longest shipment took a shade over a month.  In the last month Coinabul had some problems with their shipping computers if I'm not mistaken.  I'd bet money you get your coin.

What did you order from them?

We're a legally registered company. I attend every Bitcoin meetup I can. I've met Tony, Charlie, Roger - We. Are. Not. Anonymous.

Please send me a PM with what info you require and I'll respond.

We have had hundreds of customers. Everyone has received their products. We've had several orders from Germany as well.

anybody bought the 20gram or 1oz bar from coinabul ? im interested to buy it. i need some reviews about the quality of this, is this legit? it says orders above 1000usd are shipped 2 days express, is this true as well. if it is, im buying.

tnx

I did not mean to offend you, and also i did not mean "you" are anon, please accept my apologies.
BTC itself is anon and can not be tracked to any individual.
Also, you are the first to respond.
Did you have problems on the website lately?

Small Gold Bar! (only 1g top prove transaction)  I am looking to do more business in the future but this is putting me off!

Check my post on the other thread. Also, try our facebook page, I half recall someone showing off some pictures of 20gram bars.

Oh, I'm not offended, I just *have* to make it clear when it comes up that we're a legally recognized company. It's one of those things about doing business with Bitcoin :)

Bitcoin was never designed to be anonymous. The anonymity that Bitcoin possesses is merely a side effect required for the system to work.

Problems on the site? How so?

Cheers,
-Jon

I don't know if you've ordered with us yet, but if you do choose to try us out, send me a PM before-hand and I'll give you a coupon for what that other site is putting you through! I do hope it works out though. We've had enough scams in Bitcoin.

Thats very kind.  Thank you.  Ill see how things pan out over the next week or so, then cut my losses.  I will definately take a look at your site.  Thanks.

Posting to say that I have now received my item- along with a nice free gift for the delay.

Thanks for resolving the issue.  I will use you again in future, but response to e-mails would have prevented the situation.

I can vouch that Coinabul is a legit service. It took over a month for my order to arrive, and that is my only complaint. I would use their service again.

We're fixing all the issues causing delays. Which means we're steadily getting faster. A couple months from now the processing times will be very small!

If people are local to chicagoland I would be willing to trade scrap gold chains and rings for bitcoins. I came here to research bitcoins as store customers have been asking about purchasing them from us. I have been around some online markets that use to take liberty reserve,pecunix,paypal,cashinthemail and trades just not the bitcoins yet. We acid test and electronically test all our gold but also have swiss PAMP bars. we do not sell any gold rounds yet as they are being held for now.

I hope this is not considered spam here.

What's the best way to buy gold with btc in europe? Does anyone have any experience with this?

you can exchange it for anything like you change usd

I know, but has anyone in europe actually bought gold with bitcoins? If so, from where?

If I could kindly direct your attention to my site bitcoincommodities (http://bitcoincommodities.com) ?

We are close to releasing the "pubic beta" of our completely revamped store system, but the "old" system is still good.
we ship via FedEx to all of Europe.

If you have any questions, PM me.

Bitcoins are rising faster than Gold, I wouldn't recommend it.

I've bought from http://bitcoincommodities.com/ in the past and I was happy with their service (you can search the forum for the posts I've done about them in the past)
They are based in Berlin and ship insured with Fed Ex

Here's a review of four gold and silver funds available on three popular exchanges.

https://bitcointalk.org/index.php?topic=137459.msg1484557#msg1484557

There are also a variety of online coin shops. I hear coinabul.com is very good. You can also check the goods forum here and the auction forum, people are always selling gold and silver here.

Good luck!

excellent, this is exactly what I was looking for. Will probably send you a few questions later today.

Excellent, thanks.

I was always taught diversifying is a good practice. When bitcoins appreciate so much that they consist of a major share in your portfolio, it's time to sell some. Since I don't have ANY gold so far, this looks like a good chance to get some AND contribute to the bitcoin economy.

Well there's a difference if you want to help out the community, or you're just out to make money. If you must, I'd buy gold VIA LR, you can actually store grams of gold on your account, at least I think.

Spending bitcoins is what helps the community, trading it for usd, not so much. I'm not in this to make money, but having so much invested into bitcoin at this stage would be pretty stupid. I might as well buy those bitcoins back if/when the situation is appropriate.

What's the difference? How is buying and selling dollars fundamentally different from buying and selling anything else? Moreover, if nobody traded bitcoins for dollars, where would new users (which is what the community really needs) obtain them in the first place?

Any idea if they ship outside of Europe?

we basically ship to just about anywhere fedex will go.
pm me if you have any more questions.

I'm new to all this precious metal thing, but do they have the same momentum as Bitcoins have? Are the precious metals not starting to become old fashioned?

Bitcoin is high risk, high volatility.

Precious metals move slower. Bitcoin and PM are both good hedges against inflation.

And there's new forms of bullion available now, which helps make it more attractive and useful. It is good to diversify.

I agree, I totally love the shire silver cards (although they're totally useless over here) :-D

Ordered some gold from 2weiX. Will report back how it goes :)

Anyone know of a bullion seller who accepts bitcoins AND has some kind of escrow facility?

My experience so far with buying bullion with bitcoins is that once the seller has your bitcoin they have no obligation towards you and you have no recourse at all.

I sold a few ounces of gold recently and the buyer used Tangible Cryptography for the escrow. No legitimate seller would object to going through escrow since the buyer usually pays for it.

That's always the case with Bitcoin, be it an ounce of $foo on SilkRoad or a moneyclip from Finland.

However, if you're ordering from someone who is/has a "real" company, registered within the confines of (say, European) mercantile law, you're really no worse off than when ordering and paying in advance with Euros or Dollars.

That being said, I can understand your need for escrow. I myself have never used it, I have *always* demanded my customer send the BTC first and there hasn't been a single one who hasn't received his goods in full and on time.

When you're not doing "meet-me-at-the-7/11-at-10-past-9pm" deals, you shouldn't *need* escrow. That (for one instance) is what #bitcoin-otc is for (this (http://bitcoin-otc.com/viewratingdetail.php?nick=bitcoinsinberlin) is me).

Good enough answer for me. Can you source gold sovereigns?

I sure can.
Let me finish the transition to our new server / new shop and I will include them in the portfolio!

While I agree with you in theory, it has turned out quite differently for me in practice. While this company is apparently incorporated in the US, I am left with little recourse as a non US citizen.

Normally I'd have some recourse through the payment channel, be it Paypal or CC chargeback. With these options removed, I'm left with little recourse.

I had taken for granted the security that credit cards provide for international purchases.

I am incorporated in Germany, and I'm awesomely legit, FWIW.

Bought several grams of gold from 2weiX (bitcoincommodities), everything went very smooth. Also excellent customer service :) Will definitely buy from them again.