Chorlton

Should ask them what price they buy for, £500 a bullion sovereign would come in handy 😁

To begin with as mentioned above start with a reputable dealer as then you know what you are buying is fine and also it gives you a known good coin(s) to compared with others from more risky sources if you choose to take any risks. One bad coin can wipe out many previous good deals value so be careful not to impulse buy. No one on here has ever had a poor impulse buy, honest 🤫

The honest answer is no one knows but the best advice is to seek out the best deals and buying smaller amounts generally means buying at a higher premium.

It is likely this will lead to a continual fall off in the use of EBay as it puts an even greater risk on the user having to have a bank account exposed as well.

Having had a quick look on the EBay community forums long standing sellers are mentioning their sales volumes are dropping quickly since the change.

Its a very difficult but easy situation to get into without doing a lot of research and understanding the market. When I first started I made a few mistakes but was in part lucky to avoid anything close to the scale on the youtube clip.

The premiums are eye watering in some cases for something with little value over bullion.

This is likely people seeing the price the coins go for at dealers, auctions and generally , not realising that only sellers with a long standing good reputation get the best prices.

 A Random Ebay seller who has low feedback and does not normally deal in coins is not going to get the best price. This does mean bargains can be available but you have to be sure you can assess accurately what you purchased and be prepared to send back anything that is inaccurate.

Having bought a gold proof at below bullion prices a while back I had a go at cleaning it and thankfully learnt it’s not a good idea on that one. The majority of the time most people like myself just make things worse and as Lawrence mentioned further up simply cleaning an older coin that has aged well can wipe out its value. I am now able to keep my proofs in the capsules or better still slabs to enjoy them and maintain their condition.

3 minutes ago, Foster88 said:

I'm not sure but I was surprised to see the 1865 Australian half Sovereign valued at £2,000.

Surely this is over estimated.

On a brief glance they seem to be dealer retail prices for the sovereigns that I am interested in.

1 hour ago, Coverte said:

I have not handed over my bank details because, unless I'm mistake, it's basically a direct debit;

meaning, yes - great, you get paid within 2 days, but on the downside, if a dispute starts with some scammer (and there's plenty), eBay always side with the buyer, so the money can be pulled even faster to some crooked buyer and you get your item (or something substituted) and you're stuffed.

I found the way to stop  a lapse in the £1 weekend offers, is to put up just one item 'as normal' - once they see selling activity, the offers start again.

The last part is good to hear, selling with a 13% fee is generally a poor idea. You are right about the direct access to a bank account part.

Mine arrived this morning when I was on a long call, the dogs went crazy

Just received the dispatch confirmation EMail so not long now 😀

New version now on order, includes more Sovereigns than before 😀

The main benefit of grading is it keeps my sticky mitts off quality coins in good condition  😀

More seriously it confirms what a coin is and its condition but even then fake graded coins exist so still need to take reasonable precautions buying on the secondary market if not grading yourself.  This does depend on who is doing the grading as Chorlton’s grading gives all coins a PR70.

Thanks all for the updates.

On 05/03/2021 at 10:51, SilverJacks said:

I believe buyers will still be able use PayPal as their payment method, and so will still have 45 day protection. 
I really don’t like the sound of this at all. I much preferred having PayPal as a holding account between eBay and my bank.

and the only advantage for us is a reduction in fees from 3.5% to 2.8?

ive been asked to join, I have until end of the month to accept. I think I’ll ask them to hold off and put me in later. Doubt they’ll agree but worth a try

also, they have previously said you won’t be allowed to sell bullion. Does this mean they will categorise some coins as bullion, since that’s exactly what some coins are? In which case, where would semi-numismatics go?

this all sounds disastrous for average Joe sellers and will only work out well for companies.

In theory coins such as sovereigns are currency so would be fine. A case of watch and see.

I have the older version but will likely buy this one as well.

The key to keep in mind for the gold price is gold can be rapidly substituted out when better investment opportunities arise and to look for drivers of it’s price both up & down, the temptation can be just to look for the upside.

I have the right vehicle for your trip aboard😇

£1,200 assuming the pound doesn't collapse post Brexit.

1 minute ago, HighlandTiger said:

I'll be happy to take a wager that in 10 years time, I'll be able to buy one for a similar price to what you originally paid, (assuming spot hasn't risen to £1000 an ozt)

I always refer back to my philatelic days, and I can remember numerous releases that hit astronomical figures for a few years, (traffic light gutter pairs for example - one pair per sheet of 240). That today can be bought almost at cost, all due to people moving on to the next big thing.  Well done for selling at the right time. Nice one

This is a good point and something to be careful of as in part the latest fashion drives prices and once no longer in vogue the price premium is gone. The added risk with some modern silver coins can be rather than gradual ageing you get rapid degradation. Still a great buy for anyone who got in early and sold recently.

This is why I tend to only buy older silver coins as the condition of them has likely stabilised and any handling/ storage issues are apparent. Some of the newer coins from the Royal Mint for example have consistent production issues not related to how you store / handle them e.g. significant toning in exactly the same place on the coin.

15 minutes ago, InvestInCoins888 said:

That’s simply not true.  Plenty of coins on site that are the cheapest available.

 

Its there customer service that really wins out, again and again!

 

I discovered today that the payment had failed on my order yesterday at £22.16. Any other dealer would have said sorry, you need to reorder at today’s spot (nearly £70 more!). They went that extra mile, checked yesterday’s order, could see it failed and honoured the price.

 

Thats people over profit.

 

Im not sure where you are shopping Ape, I wish you’d share.

I have had similar good experiences with Chards and their customer service is excellent. 

Has the bet been taken as it was easy money with gold going down below 400 ?

I thought all comers would have been accepted by now to have their gold / money taken from them 🤑

1 hour ago, Wonger said:

Lets hope you continue posting that chart for updates until $385 by the end of 2021 

Why not the end of 2030 🤠

Are we still supposed to be buying golden shorts at $400 a pair ?

My drawer is full and may need to move the socks somewhere else 🤔