Bitcoin Forum
December 03, 2016, 04:57:20 AM *
News: Latest stable version of Bitcoin Core: 0.13.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: [1]
  Print  
Author Topic: How would you recommend exchanging gold for BTC?  (Read 595 times)
tyler72
Newbie
*
Offline Offline

Activity: 25


View Profile
June 14, 2012, 03:41:37 PM
 #1

I've got a 5g Credit Suisse gold bullion bar that I'd like to exchange for BTC.  They retail for about ~$350-400.  Problem is I've got no rep on this board or any other place and also I've never handled a transaction this big.  I'm wondering how you'd all recommend I go about trying to do the exchange.

Here are the options I've thought about so far:

  • Selling for cash at pawn shop, then purchasing BTC through MtGox.  I'm willing to pay the fees (relieves me of having to worry about escrow etc.), but I'm wary of lowball offers by the pawn shop.  Anyone had experience selling gold before at a pawnbroker?  If they are expecting 40%-60% of market value then I'd pass.
  • Selling it on btc-otc.  Problem is that I have no rep + I'm worried about getting stolen coins (maybe doesn't really matter since its irreversible?) + I'm not sure how much precaution I'd need to take w/regards to escrow etc.
  • In person.  Problem is I'm not in a major city.
  • Posting on "Goods".  Problem is I have no rep

Anyone have any ideas?  How would you go about doing this?
1480741040
Hero Member
*
Offline Offline

Posts: 1480741040

View Profile Personal Message (Offline)

Ignore
1480741040
Reply with quote  #2

1480741040
Report to moderator
1480741040
Hero Member
*
Offline Offline

Posts: 1480741040

View Profile Personal Message (Offline)

Ignore
1480741040
Reply with quote  #2

1480741040
Report to moderator
The money raised from these ads will be used to pay for improved forum software and other useful stuff.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
SaintFlow
Sr. Member
****
Offline Offline

Activity: 415


for the love of water


View Profile
June 14, 2012, 04:48:56 PM
 #2

Welcome.

Small time gold investor wanting to "cash out"?

Ask the people of http://coinabul.com/ if they also buy gold. It is there buisness to sell it for bitcoin. Perhaps they can held.
I guess there you send your gold first because they have the reputation to pay you. Otherwise document your sending here.

Alternatively you can wait for someone here to offer you a "deal". However then you should also place an offer in the marketplace section
of this forum.

Otherwise you have to find the places in the internet where you can trade for your currency and then buy coins.


account resurrected
the lurking ends
EnergyVampire
Full Member
***
Offline Offline

Activity: 210



View Profile
June 14, 2012, 06:31:24 PM
 #3

http://coinabul.com/index.php/coinabul-buys-your-gold-silver-and-platinum-for-bitcoin-sell-your-precious-metal-back-to-coinabul-for-bitcoin.html

tyler72
Newbie
*
Offline Offline

Activity: 25


View Profile
June 15, 2012, 01:09:58 AM
 #4

Just spoke with the staff at coinabul.  Thanks for your recommendation
Pages: [1]
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!