Is it easy to sell gold coins that are purchased from Flipkart

It’s not easier to find buyers of gold coins as most jewelers would either refuse or ask for a huge discount. Buy them only if you know some jeweler or plan on buying some jewelry.

I got few caratlane gold coins from Amazon last year and this year used them to get some jewellery done. Had absolutely no issue at all, the local jeweller accepted them without any fuss.

By the way, caratlane ones come with proper certification too. Seem totally authentic.

@raghupro wrote:

I got few caratlane gold coins from Amazon last year and this year used them to get some jewellery done. Had absolutely no issue at all, the local jeweller accepted them without any fuss.

By the way, caratlane ones come with proper certification too. Seem totally authentic.

Last year was a “golden” year for purchase of gold coins on amazon. Snapdeal woohoo (20-25% discount) to amazon and buy gold with CB sites (on gold coins there used to be good cashback before they changed the policy).

Yes caratlane gold coins are trustworthy and have sold without any hassles of purity check rejections

@ranjithsai01 wrote:

@raghupro wrote:

I got few caratlane gold coins from Amazon last year and this year used them to get some jewellery done. Had absolutely no issue at all, the local jeweller accepted them without any fuss.

By the way, caratlane ones come with proper certification too. Seem totally authentic.

Last year was a “golden” year for purchase of gold coins on amazon. Snapdeal woohoo (20-25% discount) to amazon and buy gold with CB sites (on gold coins there used to be good cashback before they changed the policy).

Yes caratlane gold coins are trustworthy and have sold without any hassles of purity check rejections

Yeah, after gift card discounts and cash back on gift card and gold coins I actually got them at almost 5% to 8% less than market price even though they are priced much higher than market price for 24k gold

after discount its almost 2800/GM……now a days there are shops like “we buy gold” and have heard that they pay decent amount for your gold

@mdeal001 wrote:

after discount its almost 2800/GM……now a days there are shops like “we buy gold” and have heard that they pay decent amount for your gold

Buy it and share your experience. If it was so easy wouldn’t everyone be making some good money from it? Don’t go by what you “hear”, go to the jeweler and ask for the real deal. By the way that decent amount can be as low as 2500

You can easily get 2900/gm as price in.mumbai have tried this and sold about 1.5 lakh of gold last time and have bought roughly of same amount this time as well had earned about 10℅ profit last time as the price was very much lower then the market price

How much banks or those Muthoot clan give against gold?

@thrifty_indian wrote:

How much banks or those Muthoot clan give against gold?

Shouldn’t be more than 2300. Previously Muthoot used to give almost 90% of the day’s quote I guess, but that was 2-3 years back. RBI capped them at 75% to prevent the gold loan bubble.

@raghupro wrote: I got few caratlane gold coins from Amazon last year and this year used them to get some jewellery done. Had absolutely no issue at all, the local jeweller accepted them without any fuss.

By the way, caratlane ones come with proper certification too. Seem totally authentic.

why’d anyone have a fuss making jewellery out of raw material from your own end !

unless you meant that they did not charge ant/much ‘khot’ (hair-cut margin for ‘assumed’ impurity)

also giving coins in-lieu of stuff is easy for them too.
just like checking a rabbit or @Kutta’s brain for verifying rabies infection
melting the metal and then checking its purity is the safest way for one to authenticate and appraise value.

yes, having KDM type jewellery or hallmarked stuff helps too.

funny thing i noticed ages back, was that Brit or other coins (with stamping of some big international mint) fetched slightly higher value in local markets.

@Spock wrote:

@raghupro wrote: I got few caratlane gold coins from Amazon last year and this year used them to get some jewellery done. Had absolutely no issue at all, the local jeweller accepted them without any fuss.

By the way, caratlane ones come with proper certification too. Seem totally authentic.

why’d anyone have a fuss making jewellery out of raw material from your own end !

unless you meant that they did not charge ant/much ‘khot’ (hair-cut margin for ‘assumed’ impurity)

also giving coins in-lieu of stuff is easy for them too.
just like checking a rabbit or @Kutta’s brain for verifying rabies infection
melting the metal and then checking its purity is the safest way for one to authenticate and appraise value.

yes, having KDM type jewellery or hallmarked stuff helps too.

funny thing i noticed ages back, was that Brit or other coins (with stamping of some big international mint) fetched slightly higher value in local markets.

I am not well versed with things related to gold/jewellery. I was under an impression that these jewellers charge a bit as wastage when we shell out gold coins to them or may be not accept gold coins purchased online claiming impure gold. Sadly I am not even sure how exactly to get the purity test done for gold without risking much.

@raghupro wrote: not even sure how exactly to get the purity test done for gold without risking much.

although the 99.99 to 100% sure-shot way is only melting it in the furnace, rolling it in a ball then some spirit or chemical to check colour of the liquid change

now those electron guns or similar scanners are mostly reliable.

my memories of the kaanas (stone used in old fashioned way) is from when i was 10-12 years old so not much

but at TBZ main (Bombay) I did see the melting thing inside their facility 10 years back.. to remove खोट (if any) they sprinkle this chemical in table salt like quantity and minor (nano grams) impurities surface

what remains is liquid bliss.

@mdeal001 wrote: Hi All,

Is it easy to sell gold coins that are purchased from Flipkart using SBI card discount. anywhere in the universe

yes and no
it is subjective. most old school ‘sarafa’ people have the habit of charging ‘khot’ (read relevant part of my comments above)

the hair-cut margin or khot is usually not charged on http://www.google.com/search?q=kdm+jew...ry KDM stuff which is assumed to be ‘kundan’ (purest gold)

everything depends on the personality of the buyers and sellers. if the buying jeweller is a scoundrel and needs to take you for a ride, they will try everything.

there are people who buy things off ebay too and made money selling it locally. but it requires some skill or may be guts or
precision risk taking.
@Sir Ishandon is/was one such guy who had first hand exposure to such loopy trading. but he isn’t active much off late
@@kaliyaadaku@@

@mdeal001 wrote: Can someone also let me know the todays gold price at which shops will purchase

big brand/chains would have a very different rate than ‘sarafa’ (main market rate)

which might differ from bank quotes (banks are not permitted to buy any gold).

if you are assuming that buying discounted gold to arbitrage it elsewhere, is a wise thing to do or would yield good long term results
then lemme give my uninvited views: it is not the greatest of ideas

or the best use of time and money (in my opinion).

Purity of metal is denoted in ‘N’ atleast for copper and Silver so I assume it’s the same for Gold too. The purest is 7N i.e., 99.99999% pure. Although there doesn’t exist any device known to man yet that can measure beyond 5N but purer than 5N is automatically considered 7N. The process to purify the metals to that level is patented and as I only know, copper being made to 7N purity at only 3 factories in the whole world and the price is obviously many times over the usual 99-99.9% purity we get for commercial use. So imagine impurities even the hallmarked Gold contains considering their price.

@ranjithsai01 wrote:

It’s not easier to find buyers of gold coins as most jewelers would either refuse or ask for a huge discount. Buy them only if you know some jeweler or plan on buying some jewelry.

Well I don’t know about what place you talking about but in Mumbai any jeweller will buy pure gold at today’s price minus any making charges.
Ps- I worked at a jeweller place 2 months

@mjdominates wrote:

@ranjithsai01 wrote:

It’s not easier to find buyers of gold coins as most jewelers would either refuse or ask for a huge discount. Buy them only if you know some jeweler or plan on buying some jewelry.

Well I don’t know about what place you talking about but in Mumbai any jeweller will buy pure gold at today’s price minus any making charges.
Ps- I worked at a jeweller place 2 months

Here in Bangalore jeweler’s try to out smart you. If you don’t know what you are selling they will take you for a big ride.

@ranjithsai01 wrote:

@mjdominates wrote:

@ranjithsai01 wrote:

It’s not easier to find buyers of gold coins as most jewelers would either refuse or ask for a huge discount. Buy them only if you know some jeweler or plan on buying some jewelry.

Well I don’t know about what place you talking about but in Mumbai any jeweller will buy pure gold at today’s price minus any making charges.
Ps- I worked at a jeweller place 2 months

Here in Bangalore jeweler’s try to out smart you. If you don’t know what you are selling they will take you for a big ride.

Hi, you can sell it to Goldmax they buy gold /silver coins with daily gold buying prices flashed in their website . 24k, 22k purity of any brand with ease.
cheers.

Sold for 3200 recently at local jeweler, we by gold also gave a similar rate however charges were 3% on top of it…
If u visit any shop and dont get a atleat 3150 for 24k per gram, simply walk out, you will be called back in…

I never thought to sell gold like this through online stores, by the way thanks for sharing your experience.