Has anyone bought any gold from the site Coinabul?

[CCHarris]

Very interested in buying gold in 2014, thinking the stock market will have a correction sometime first quarter.  I have bitcoins that I have been trading with for the past few years, and thought it would be nice to buy some gold bullion while the price is still relatively low.

Has anyone used the site Coinabul or know of any other gold trading sites that accept BTC? 

Regards,

CH

[mindfulmojo]

Do NOT use coinabul... they are very scammy.  

These two are good...

http://www.amagimetals.com/

http://agoracommodities.com/

You can read their threads in this section of bitcointalk...

https://bitcointalk.org/index.php?board=5.0

Just scroll down or do a search...

I have used amagimetals many times, sometimes they can be slow shipping,

but they always deliver... 

[scoffer]

Looks too scam to even touch

[Reyhs]

Not so bad, nobody mine it !

[odolvlobo]

Search for Coinabul in these forums. Then decide.

[Holliday]

I agree with the other posters. I would avoid Coinabul.

However, I have heard good things about Amagi Metals.

You should, of course, decide for yourself. https://bitcointalk.org/index.php?topic=130831.0

[Surfactant]

I've bought from Amagi before.  No problems at all.

[CCHarris]

Thanks for the information guys! I appreciate the advise....

Regards,

CH

[Kneedle]

I just ordered from both amagimetals.com and coinabul.  I ordered gold from coinabul and the status was stuck at 'pending' for a week.  I've ordered from them before, and I know it takes a while, so I didn't have too much concern.  I contacted them on the 27th saying 'umm its stuck at pending...whats up?'  We then exchanged mails about the transaction (which I paid immediately) -  I get a mail back yesterday from coinabul saying ' yeah once we get confirmation of payment, hopefully in like a day or two, the clock will start on your order.  Then it will be 17 business days until you receive it.

A long story shortened - coinabul will deliver, but they take a month, sometimes more, from the time you order to the time you actually get your product.

I've not had a status change on the amagimetals order, but that was just placed yesterday.

Kneedle

[odolvlobo]

yeah once we get confirmation of payment, hopefully in like a day or two, the clock will start on your order.  Then it will be 17 business days until you receive it.

That is absurd. You paid with Bitcoin, right? Confirmation of a bitcoin payment doesn't take a week, it takes an hour at most. He is stalling.

 I believe that Coinabul works like this:

1. You place an order and pay him in Bitcoin.
2. He converts the bitcoins to dollars and orders your item from APMEX.
3. After his check has cleared, APMEX ships him your item.
3. He receives the item from APMEX and then ships it to you.

My guess is that you can get the gold more quickly and more cheaply from APMEX, though you wouldn't be using bitcoins.

[Sonny]

yeah once we get confirmation of payment, hopefully in like a day or two, the clock will start on your order.  Then it will be 17 business days until you receive it.

"hopefully in like a day or two" lol.
Either they don't even understand what bitcoin is, or odolvlobo's theory is very likely true.

[Lethn]

I haven't tried them myself but these guys are a company that adopted Bitcoins and they've been around a lot longer than Coinabul: http://autrading.co.uk/home.php

wouldn't mind getting a few gold bars from them or maybe some 1kg Silver bars? I can't decide

[Kneedle]

I found it amusing too, and yes I paid in bitcoin.

I am waiting for a refund now but since I told them to cancel my order I haven't heard anything back...In my experience, responding to a (M*THA F@&#IN) email takes these (G*D D@#M) coinabul guys a day or two.

Not what I would call great customer service.  I can afford to wait, but a lot of people can't, and for those folks...Danger Danger Will Robinson, Danger danger!

[Bittery]

I am looking into buying some gold with my BTC from these guys and stumbled over these comments that are pretty negative.
Any positive experiences with Coinabul around?

I imagine most of us looking to divest our BTC into bullion are of the same mind about the coming collapse of the US$ / US Bond maket /global stockmarket or all of them together.

I have been following the gold market closely over the last months and am coming to the conclusion that the physical gold sellers are getting squeezed by the currently manipulated paper gold price (futures) getting way out of sync with the physical gold market. The result is supply of real gold is running out fast while the price is being artificially kept down by shenanigans in the gold futures market. The US maintains that the 2 markets are pegged but some figures I have seen recently show an ever growing disconnect between the 2 (physical vs paper gold)
Growing demand for physical gold should push the prices up, but the naked short selling in the futures market keeps knocking the price down.
This phenomenon is explained here by Dr. Paul Craig Roberts being interviewed by Greg Hunter on youtube http://www.youtube.com/watch?v=p0rGaWcRiNo

Could this be the reason for hickups with Coinabul, and others.

As far as I can see Coinabul is the only online seller of physical Gold for BTC.
Are there any others doing this yet? 

[TheNewAnon135246]

Stay away from Coinabul! There are plenty of websites who accept bitcoins so you'll have no problems buying gold.

[MegaHustlr]

Many people are saying to stay away, I agree. Stay away from those types of sites.

[FrankSabbath]

I've waited many months to receive my medium-sized order now. I have mailed them a couple of times, nothing. Then suddenly i received a well-written and reassuring reply about a month after i first contacted customer support, then nothing again. I placed and paid for the order last summer. Since then it's been "processing". I've wished to have my order refunded and cancelled for quite a while now, im just afraid they will simply dissapear completely if i even suggest that option... I will NEVER do business with this company again, that is for sure. I would not recommend anyone else to do so either, naturally. Even if i eventually would get my order, this kind of delay is beyond ridiculous...

I very much regret that i went with my old research on the company and didn't just quickly consult google for recent developments before i placed my order. At this point i honestly doubt that i will see either my bars or the BTC i paid again. I'll let you know if i do.

[MonkeyDOH]

It sucks! I bought some silver on there before chrstmas and still havent gotten anything!

That's probably a scam ! people should not use these websites to buy Gold or Silver.