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?