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Freighting Gold

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Post  Oldfella Fri May 27, 2022 5:33 pm

Hi everyone,

I have the oportunity to sell a couple of my nuggets but the buyer wants me to organise freight and take responsibility of the freight. He said to use Registed Express post but after researching I found that AustPost won't insure or guarrantee that my parcel will get there. I have also heard of nuggets going missing especially when the address is identifiable as a gold buyer.

How do you guys that sell freight your gold?
I'm in the central west NSW.

Cheers.
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Post  Kon61gold Sat May 28, 2022 12:21 am

G'day Oldfella

A bit of a tricky question, being that your sending a parcel of something, to a designated gold buyers address. It all depends on how much gold content.
if your talking small amounts in the grams or multi-grams, the best way I would go about sending such, is by sending it through Australia Express Post, with signature upon arrival of designated address.
The reason I say pay that little extra for a signature from buyer upon delivery is that, if for whatever reason the buyer is not there to pick up or sign off for his parcel, the postie is obliged to leave your parcel at the nearest post office, notifying the named gold buyer that a parcel is awaiting for pickup at his local post office, to which will require him/her, to go pick up your parcel from the designated post office by signing off for it, as having been received/delivered.
Make sure that when you are sending off nuggets or gold in the multi-gram or multi-ounce size, you have the gold wrapped up tightly within a  small hard plastic container, stuffed with paper or bubble wrap, allowing for no movement of contents, then placing plastic container in a small box to suit, stuffed with same as before, so that your inner contents now can't move (if shaken) within your packed up box, before sending it off Australia Express Post (with signature)
If your talking several ounces in weight or more, the same packaging as above would apply, but you might be better off enquiring & or sending your parcel off through DHL express. But again, they can only guarantee you of parcel delivery, but they too do not insure gold bullion of any sort or form.
Most couriers don't for whatever their reasons, insure gold bullion/gold nuggets, coin, priceless paintings or jewellery, neither does Australia Post. You just have to trust in the delivery service you choose to send your parcel through & or the bloke who your sending your parcel to, that upon having received it, the contents within are as stated, less you can get insurance of such items & or delivered through some private company/courier which handles in such.
Some gold buyers offer their own courier service provider for the picking up & delivery of such parcels, something of which you should also enquire from gold buyers towards finding out.
Either way, when any priceless item is out of ones hands & being delivered by or through another, will almost always contain some form of risk.

Cheers Kon T25
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Post  Oldfella Sat May 28, 2022 10:44 am

Hi Kon,

Thankyou for your reply. It does make it difficult for us when we want to sell, I too have found that no freight company will insure the nuggets.
I was to send a bit over 12 Oz in the form of 2 nuggets to WA but considering the risks and some of the horror stories I have heard with the occasional Postal contractor reapropriating the consignment I think I will give the sale a miss. Too much money to gamble.

You don't know of any honest Nugget buyers in NSW? I have looked at a few Sydney and Newcastle buyers but they are all the same in that they just want to smelt the nugget down and give you way below spot.

Thanks,
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Post  Axtyr Sat May 28, 2022 1:36 pm

Oldfella you have one other option. Take a trip to W.A. yourself. Flights are reasonably cheap these days and if the price is good then it could be worth your while and way more secure.

Regards Axtyr.

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Post  Oldfella Sat May 28, 2022 2:48 pm

Hi Axtyr,

That thought had actually crossed my mind but not practical for me at this point in time.

Cheers,

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Post  adrian ss Sat May 28, 2022 5:26 pm

Well you don't have to call it a gold nugget on the package, mineral speci will do and don't address it to bob the gold buyer 24 glory hole st Golden Mile. Just a simple normal address is better. Signature on delivery is good and Tracking numbers are always provided......Yeah you might get a few grey hairs while waiting for delivery confirmation.....You could plaster "fragile" and "This Way Up n Don't "Drop" stickers" all over it Very Happy
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Post  granite2 Sun May 29, 2022 10:49 am

If you ring Peter Beck in Adelaide he will arrange for a courier to pick up you gold and insure it while in transit. That's what I used to do hopefully he still does it. Give them a ring and ask, can't hurt.
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Post  Oldfella Sun May 29, 2022 2:06 pm

Hi Granite2,

Thanks for that, I will try contacting Peter. Also tomorrow I will be seeing a Insurance Broker and see what they can come up with for coverage to the WA buyer.

Cheers.
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Post  geof_junk Mon May 30, 2022 8:49 pm

Keep us all up with of your progress. Thanks
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Post  Oldfella Mon May 30, 2022 10:37 pm

Progress wise, I sent an email to Peter Beck and havn't heard anything back yet.
I contacted several insurance companies and 2 local Insurance brokers - They want nothing to do with it... Too risky to cover.

So basically, I cancelled the WA sale as theres no way I'm risking that amount of money. I'm waiting to hear back from a potential buyer in Dubbo.

Cheers.
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Post  adrian ss Tue May 31, 2022 7:47 am

Axtyr wrote:Oldfella you have one other option. Take a trip to W.A. yourself. Flights are reasonably cheap these days and if the price is good then it could be worth your while and way more secure.

Regards Axtyr.

Not sure about cheap flight.
About 900 one way from Canberra to Perth at the moment. (Qantas).
I can fly Canberra to Manila for roughly the same price and twice the distance.
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Post  hawkear Tue May 31, 2022 8:48 am

[quote="adrian ss"]Well you don't have to call it a gold nugget on the package, mineral speci will do and don't address it to bob the gold buyer 24 glory hole st Golden Mile. Just a simple normal address is better. Signature on delivery is good and Tracking numbers are always provided......Yeah you might get a few grey hairs while waiting for delivery confirmation.....You could plaster "fragile" and "This Way Up n Don't "Drop" stickers" all over it  Very Happy [/quote

Yes agree with all that. Sold to Peter Beck quite a few times and once they arranged and paid for the courier to pick up from where I was living in a Caravan. They expressly asked me to mark the package as “metal parts”. From memory it was about 6 Oz in small nuggets.
I am not sure if they still do that.
Another time I just hopped on a bus to Adelaide, stayed in an inexpensive hotel and bussed back home. Treated it like a bit of a weekend break and enjoyed myself except the long bus trips, getting lost trying to find Becks by public transport - minor details though. I’ll go by train and take a map of Adelaide next time.
Seriously it can be quite worrying selling gold privately as did so recently. I made sure that I established reasonable assurance about the identity of the person I was selling to before giving out any details about me and where I lived. Had a few doubtful people contact me and one even abused and threatened me after I sold to someone else when he continued to put me off saying he was having difficulty raising the money - a modest $1k.
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Post  Oldfella Tue May 31, 2022 1:25 pm

Peter Beck's just replied to my email, they pay for the gold weight after refining has been carried out. This like any other refiner is fair for smaller gold but not for larger collectable nuggets that usually sell at a premium i.e Spot upwards.
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Post  hawkear Tue May 31, 2022 1:54 pm

Oldfella wrote:Peter Beck's just replied to my email, they pay for the gold weight after refining has been carried out. This like any other refiner is fair for smaller gold but not for larger collectable nuggets that usually sell at a premium i.e Spot upwards.
Yes that is what Becks do and that is fine if you have non descript gold or nuggets to sell. They are a trustworthy company in my experience.
In my last sale to Becks even though my return was diminished by the assay fees, melt loss and and purity loss my return was about 92% of gold price - well above the price offered by local buyers which was around 80% at the time. Of course the larger the consignment the better the return as assay fees are fixed costs. 
If you have premium nuggets and you feel you can do better, as you should with larger and nicely shaped nuggets, then the problem is that it is you who have to find the buyer and organise the transaction.
I also seem to recall that some American buyers would come to OZ every so often to buy premium nuggets. Maybe someone might know if that still happens and how premium nuggets could be advertised in America.
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Post  Minermike Thu Aug 18, 2022 5:28 pm

Good looking nuggets should be sold at auction . E-bay charges 12% on all sales . A courier might be the best way to send .
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Post  joe82 Fri Aug 19, 2022 6:25 am

i send gold from here in Charters Towers to Melbourne via Aus post no drama no questions just insure it track it and register it, in saying that i only send up to 3 Oz at a time because the max insurance is 5k so 1 or 2 oz is best???

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Post  Minermike Sat Aug 20, 2022 11:47 am

I think I read Peter Beck had passed away a few months ago but the company is still operating .
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Post  hiluxer Sat Aug 20, 2022 8:50 pm

joe82 wrote:i send gold from here in Charters Towers to Melbourne via Aus post no drama no questions just insure it track it and register it, in saying that i only send up to 3 Oz at a time because the max insurance is 5k so 1 or 2 oz is best???

You need to read the fine print, Joe. You're paying for insurance cover that you won't be able to claim on in the event of a loss. They do NOT insure bullion and they regard nuggets as bullion.

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Post  geof_junk Sat Aug 20, 2022 11:17 pm

Just a thought, how do they no what was in the parcel if it was lost?
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Post  joe82 Tue Aug 30, 2022 7:10 am

hiluxer wrote:
joe82 wrote:i send gold from here in Charters Towers to Melbourne via Aus post no drama no questions just insure it track it and register it, in saying that i only send up to 3 Oz at a time because the max insurance is 5k so 1 or 2 oz is best???

You need to read the fine print, Joe. You're paying for insurance cover that you won't be able to claim on in the event of a loss. They do NOT insure bullion and they regard nuggets as bullion.


what about specimen's for rock collections Shocked

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