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Chorlton
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Everything posted by Chorlton
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Do they have reserve / starting prices that are a little high to encourage interest ?
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Purchasing proof gold coins. Is it really worth it?
Chorlton replied to Ukbullionfan's topic in Gold
The key for proofs is condition. Once handled outside the capsule they can devalue rapidly. Also the too graded proofs for any particular coin are where the value lies, being slabbed helps confirm and preserve condition. This is not for everyone as it is good to actually handle a coin and see it up close. -
Worth checking on here for past prices to get a better idea. BBP tend to ask for high prices in comparison. A quick example is on the forum a 2017 sovereign sold recently for £370 but BBP are selling them for closer to £430 a 16% higher price.
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Advice for a new stacker with '0'ozt gold (Sov vs 1oz)
Chorlton replied to FourNinesFine's topic in Gold
Worth working out the cost and ease of selling. A few gold sovereigns are very easy to sell as well as being VAT and CG exempt on purchase. Potentially there could be quite a lot of effort and expense selling numerous 1oz silver coins to the same value. If the silver 1oz coins are bought new with VAT included it can reduce the potential profit even if silver has risen at the Spot price. -
I did the same as the amount of milk spots, hazing and rapid tarnishing on newer Royal Mint silver proofs is too much of a risk. Older silver coins including proofs are fine as they have generally settled down and unlikely to change further beyond gradual toning.
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Agreed the quality control seems lacking and generally do not buy direct due to higher price and quality. For newer proofs I tend to buy graded to avoid issues and anything else from here and other places with a good reputation.
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Some questions are best not asked !
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I bought something off them once and it took a while to discourage my “Personal Account Manager” 🤠
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The bourgeoisie of the Silver forum 😇
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Unfortunately you have to be sure whichever type of coin you are buying. Buying from a respected seller with a good reputation helps as does verified grading of coins. After that it is your ability to tell the difference between real and fake which takes time to learn and gain experience.
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How did I do? Noob buys three coins in Tokyo flea market.
Chorlton replied to theinkinjapan's topic in Silver
The above is good advice until you gain real example coins and some experience the risk and cost of mistakes can be high. -
It’s a personal choice, my new proof coins are mainly graded but not all. This is to confirm they are genuine, the quality of them and keep my sticky paws off them. My much older coins while kept in capsules to protect them are handled as normal. I prefer PF70 and ms70 coins but also anything that is interesting.
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It depends on the buyer, personally I like to have original boxes and COA’s for slabbed coins but would not normally pass up on a PF70 simply due to there being no COA. Like you mentioned it depends what you are trying sell and how.
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It is not uncommon for Japanese buyers to use a forwarding agent in the UK to provide a UK address. Due to this I now only ship to the UK for EBay and block out every other country stating UK buyer only. Since then I have not come across this again. Your experience sounds different to this.
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The 8,000,000 KG gold sovereign coin, what is the issue limit ? Also does it fit in an NGC grading slab ?
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The reason for buying a proof coin is the quality of production. Any concerns over this send it back for replacement or refund.
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Same as above both are awful for it including the silver proofs.
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It’s mainly just personal preference. I like to have the boxes and certs for my graded coins. It can make them easier to sell as well. They do take up a bit of space though.
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Grading is useful to protect coins and also provide people without the knowledge and experience confidence in what they have as there are a very wide variety of types and ages for coins. It also keeps my grubby mitts off proof coins which are in excellent condition. I also have ungraded coins which tend to be older of types I have some knowledge of.
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If trying to preserve condition then yes. Otherwise no.
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Also worth looking at older coins as they will have stabilised and are unlikely to change beyond the normal gradual toning. Newer silver coins , especially proofs are a risk when it comes to value beyond bullion later on.
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Also buying a graded coin means it is as described, of the quality described and especially in my case keeps my grubby mits off coins other than bullion.
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One thing to watch with grading is it sets a price range for the coin. PF70 doesn't suffer from this as it is the top grade and the price goes up with no ceiling. A PF69 or lower will normally not go above a certain price relative to the price of a PF70.
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AVC - what's your thoughts and experience?
Chorlton replied to Tn21's topic in Personal Finance / Other Investments
I would also check with your employer, larger employers tend to let you choose how to balance your pension funds especially reducing risk as you approach your retirement age. -
Quick question on grading, when sending coins off to be graded is it possible to have coins only slabbed and graded if they meet specific grades such as PF69 or PF70 ? Otherwise they will be returned as is. I appreciate having to pay costs in either case and would only send coins that stand a good chance.
