How to completely miss a plan B opportunity

[TestMangler]

A few months ago, just for a bit of time passing entertainment, me and a mate started to mess around with gold refining.

My mate is a bit of a gold prospector and pans & dredges around Scotland and has had some decent finds over the years, most of which get bought by the natural history museum.

Anyways, we managed to get the refining process down and working well and refined some scrap, which we then got assayed and authenticated. We then bought some scrap and did the refining and assaying another couple of times.

My mate then came to me with this 'great idea' to make ONE GRAIN 'gold bars' as he called them and sell them. To put you in the picture, one grain is roughly tin foil thickness, and about 6mm x 3mm. Didn't see the market really as a) they are tiny and b)weight/cost figures meant he was tring to sell them at roughly double spot price.

So, we discuss it a few times but I tell him to go for it and, in a Duncan Bannatyne styleee, I declare myself 'out'.

He's since sold 571 at £8 a pop in the last 30 days, just on EBay.

Did I make the correct choice ??

[MarillionFan]

A few months ago, just for a bit of time passing entertainment, me and a mate started to mess around with gold refining.

My mate is a bit of a gold prospector and pans & dredges around Scotland and has had some decent finds over the years, most of which get bought by the natural history museum.

Anyways, we managed to get the refining process down and working well and refined some scrap, which we then got assayed and authenticated. We then bought some scrap and did the refining and assaying another couple of times.

My mate then came to me with this 'great idea' to make ONE GRAIN 'gold bars' as he called them and sell them. To put you in the picture, one grain is roughly tin foil thickness, and about 6mm x 3mm. Didn't see the market really as a) they are tiny and b)weight/cost figures meant he was tring to sell them at roughly double spot price.

So, we discuss it a few times but I tell him to go for it and, in a Duncan Bannatyne styleee, I declare myself 'out'.

He's since sold 571 at £8 a pop in the last 30 days, just on EBay.

Did I make the correct choice ??

Yes.

http://completed.shop.ebay.co.uk/i.h...=p3286.c0.m283

Because in fact only 30 bars ebay adverts for one grain gold have completed in the last month(some for than one grain) and the average price if £4.

So someone is telling porkie pies. Either your mate, or yourself. You've never owned a Tornado have you?

[TestMangler]

Yes.

http://completed.shop.ebay.co.uk/i.h...=p3286.c0.m283

Because in fact only 30 bars ebay adverts for one grain gold have completed in the last month(some for than one grain) and the average price if £4.

So someone is telling porkie pies. Either your mate, or yourself. You've never owned a Tornado have you?

A Tornado.....well, actually, did I never tell you about that ?

I've seen the paypal payments in his account. Also, none of the sales in that completed items list are his.

I don't know his ebay id, but I'll find out and see what his titles are. I know that this:

MINIBAR** .999 PURE GOLD 1 GRAIN, 0.0648 gram! (TINY) on eBay (end time 12-Mar-11 20:22:18 GMT)

is one of his pieces, but that's not his ID.

[MarillionFan]

A Tornado.....well, actually, did I never tell you about that ?

I've seen the paypal payments in his account. Also, none of the sales in that completed items list are his.

I don't know his ebay id, but I'll find out and see what his titles are. I know that this:

MINIBAR** .999 PURE GOLD 1 GRAIN, 0.0648 gram! (TINY) on eBay (end time 12-Mar-11 20:22:18 GMT)

is one of his pieces, but that's not his ID.

To check someone out on Ebay, use Goofbay.com. You can type in someones ID and calculate their entire business for the last 90 days. Sales, shipping, non sales, fees. Fantastic tool. Then you can decide whether you cocked up.

[TestMangler]

To check someone out on Ebay, use Goofbay.com. You can type in someones ID and calculate their entire business for the last 90 days. Sales, shipping, non sales, fees. Fantastic tool. Then you can decide whether you cocked up.

Goofbay is generally (in my experience) completely inaccurate. I've checked my own stats on it several times and it's always been bollocks.

[TimberWolf]

It would be cool to go gold panning and find some particles of gold to 'treasure'. Scotland is too far to go though. I hear the chances of finding enough in the UK to cover transport expenses is less than winning the lottery.

[PRC1964]

It would be cool to go gold panning and find some particles of gold to 'treasure'. Scotland is too far to go though. I hear the chances of finding enough in the UK to cover transport expenses is less than winning the lottery.

Sod the travel expenses/profit margins, if you could pretty much guarantee that you would find some gold, I'd book a weekend there for the family. The kids would love that kind of thing.

[TimberWolf]

Sod the travel expenses/profit margins, if you could pretty much guarantee that you would find some gold, I'd book a weekend there for the family. The kids would love that kind of thing.

Can I come?

[TestMangler]

It would be cool to go gold panning and find some particles of gold to 'treasure'. Scotland is too far to go though. I hear the chances of finding enough in the UK to cover transport expenses is less than winning the lottery.

I'm not really into it, but have tried it a couple of times with my mate. I found **** all, he found some.

The common places, like leadhills and some other places on the north coast of Jockland, which are historically 'known' for gold are probably all panned out.

I know he found a big load last year in Perthshire, which the Scottish NHM bought. I think we were talking a good few grand. He went back to the same place again and got nowt though :-) It all looks too much like hard graft for my liking :-)

[MarillionFan]

Goofbay is generally (in my experience) completely inaccurate. I've checked my own stats on it several times and it's always been bollocks.

I've always found it to be spot on. It's not a difficult premise. It's use Ebay's web services which I'm signed up as a developer for as well.