CollectForFun

On 01/10/2022 at 23:29, dicker said:

I posted a month or two ago about a coin I had seen go from one auction to another - great that someone else takes a similar interest.

I can’t definitively work out why some coins are bought and sold several times over a relatively short period of time in different auctions.

1. My first thought about coins going from auction to auction was money laundering but I don’t think this is the case

2. Specialist dealers do need stock so buy from auction - this is unequivocally true

3. Market nuances - some years specific coins are “hot” and sell at auction well.  

I have see a couple of Sovs go through auction a couple of times for a very similar price.  Anyone want to help me understand why?

There's one other possibility - at least one auction house I know has hidden reserves on lots. So if you browse the auction site it may seem that a coin has sold as it had a bid but in fact it has not sold. That's how it can reappear in the subsequent auction...

59 minutes ago, Ukbullionfan said:

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

Why even bother comparing your purchase price with an offer from a dealer? It's obvious that dealer will offer you just bare minimum. You will continue "losing" in this way with every purchase you make if you keep doing so..!

So you did not receive your 1 kg coin but received just something smaller worth 10% of your payment?

It seems the seller is responsive - are they aware your 1kg is still missing? Or do they think what they sent fully substituted your 1kg coin? Probably not as you write the value is much less.

There's so much you should discuss with them directly, I'm not sure what type of advice you expect to get from here other than talk to the seller and demand finalisation of your deal that will be satisfactory for you. I'm sure the matter will be resolved - let us know how it goes!

Quote

The ingot is 46mm X 24mm in size and weighs approximately 2 ounces.
These are commonly mistaken for pure silver when in fact they are silver-plated brass.

https://www.collectorsweekly.com/stories/115060-american-royal-mint--eagle-ingot

4 hours ago, Silvistone said:

Im doing ETFs/ ETCs and Im charged over 9 quid a transaction, so putting little amounts in every other week would be quite expencive

For this problem I would have one simple solution for you - just start using a cheaper broker...

On researching a few coins from the latest TCC auction I noticed a coin which appeared already twice in previous auctions this year and found it interesting enough to share this finding with you.

The coin in question is an 1844 Austrian ducat in an NGC slab. It was sold yesterday for £380+%, i.e. around £407 Link

This same coin was auctioned with TCC already in June when it sold for £440+%, i.e. around £472 Link

And further 3 months before that this coin appeared in an auction in Greece where it sold for €380+%, i.e. around €465 or £390 at historic FX rates Link

This coin is sufficiently numismatic so that its price shouldn't be so much affected by gold price changes over the time.

So what do you think - why is this coin on sale so often? Is the scratch so bad that noone wants it in their collection? Or maybe the buyer from the first TCC auction did not pay so it was put on sale again? Or is such a coin-flipping more common and only here it was easier to notice because the coin is so recognisable?

By the way, after taking into account TCC seller's fees, the sellers received £396 and £342, respectively, from the first and second TCC sale. So not really a profitable development for the coin owner(s)...

16 hours ago, GoldCore said:

Unsurprisingly, markets were unimpressed. According to Tradeweb data, the 30-year gilt rates had their largest one-day decline ever as they dropped 0.75 percentage points to 4.3% from an earlier 20-year peak above 5%.

Yields decrease when prices increase. Ten-year rates decreased from 4.59 percent to 4.1%.

Sorry but I'm not quite sure what you are trying to suggest by this - if yields decreased, especially so significantly as you wrote, that means prices increased, which implies that markets value the gilts more than before - so what do you mean by saying that markets were unimpressed?

7 hours ago, MarkBandits said:

Thanks I'll check out your website. I messaged Bulgarian customs and they just dodged the question so I sent another message and they have ignored me. Not sure about the rules being the same with Bulgaria and EU. They fully join the EU in 2024 but are apparently partially in and the Lev is tied in to the euro and always stays at the same rate. I'll find the customs office and go in personally so I get a direct answer. Thanks for your reply

Here you go, after short googling, info on the topic directly from the Bulgarian authorities website:

https://customs.bg/wps/portal/agency-en/home/info-citizens/Carrying of cash, precious metals, gems and items containing them or made of them

BTW, there's nothing like "partial" joining the EU. It's binary - either a country is a member, or not.

2 minutes ago, LawrenceChard said:

You will surely know that Bulgaria is not in the EU.

Whaaat?!? 😂

3 hours ago, Silvistone said:

QUESTION- what caused the gold to spike in price end of last week?

Foreign exchange markets reacting to the mini budget announcement = dramatic depreciation of GBP against USD -> higher gold price in GBP despite falling gold price in USD.

I'm sure reading is available on the topic on many sites e.g. over here https://www.theguardian.com/business/live/2022/sep/23/uk-consumer-confidence-economy-recession-mini-budget-tax-cuts-kwasi-kwarteng-business-live.

3 hours ago, Silvistone said:

I read from UK independent wealth (hosted by Nigel Farage and some others) that gold could reach $5000/ oz or even 10K oz

"could" is the real magic word, isn't it 🙂

As far as I know, investment gold is exempt from both VAT and import duties in the EU in general. So far so good. However, notification obligation will most likely apply if you exceed €10,000 threshold.

Have no idea how this works in Bulgaria but here for illustration is an explanation of the process in Germany:

https://www.zoll.de/EN/Private-individuals/Travel/Entering-Germany/Restrictions/Cash/Entering-Germany-from-non-EU-country/entering-germany-from-non-eu-country_node.html

Most likely similar rules will apply in Bulgaria as they would have most likely been harmonised within the EU.

I know that you want to rotate the image so that the position of the portrait looks most natural. But the result of this can often be seen on the slabbed coins - while the obverse looks straight in the slab, the reverse is badly rotated to one side. So I wonder if it really is necessary to try to determine the right rotation of the head, if we could simply look at the reverse, which usually has a horizontal or vertical line enabling us to determine the right position and then use the position of the obverse in accordance with the reverse? Or why think that anyone can determime the rotation better than the mint itself?

14 hours ago, sixgun said:

"To his owner's delight and utter disbelief, Ollie instinctively dug up a total of 15 gold sovereign pieces likely dating back to the nineteenth century"
Fake News - the gold coin i can clearly see the obverse side of is a newish Elizabeth head.

.

Don't want to spoil the fun but another visible coin had George's head on it and the coin which is right below the Elizabeth's one seems to be Victoria's portrait so perfectly plausible that some were 19th century...

The difference in the shape of the letters is really noticeable. That can't be due to worn out dies...

But when I quickly checked Eagle images on the internet it seems there indeed is a different design of the letters on the coins from different years. Besides the R with a straight leg, you can notice also U is completely different with the extra "leg".

It seems 2022 version has this new design, while 2008 - 2021 coins have the other one. 2007 coin and all (?) before seem to have the design which was adopted again in 2022. Interesting...

@daca may also be able to share some valuable experience in this area

17 hours ago, very452001 said:

Why Premiums so High now over Spot Market Price?

Just to better understand your perspective: What makes you think premiums are now "so high"? What do you compare them against? And what premium would you consider appropriate?

6 hours ago, LawrenceChard said:

Ugliest Coin of the Week -  Ex-King with Arms Chopped Off

2005 Cambodia Gold Proof 3,000 Riels

King Jayavarman VII 1162 - 1201

Kindgom of Cambodia

 

Reverse:

 

5 hours ago, DrDave said:

I guess that it was based on this statue, but it looks like the love child of Homer Simpson and Gemma Collins!

Just to add a little bit of context for those who prefer not to remain ignorant:

Material: Sandstone
Dimensions: H:137. 5 cm
Date: late XIIth - early XIIIth century
Provenance: Krol Romeas, Angkor Thom
(Siem Reap)
Collection: National Museum of Cambodia,
Phnom Penh

This statue is dated to the Bayon style. Portraiture art of this period is marked by smiling and mystical expression. The quality of the modelling of this work reveals an exceptional mastery of the art.

His facial expression is accentuated by semi-closed eyes, a light smile, nose with three lobes, large forehead, lips that are neither thin nor thick, and long ear lobes. All these traits represent the Khmer physiognomy. The king’s power as expressed by his facial expression evokes supreme knowledge, compassion and peacefulness.

https://www.cambodiamuseum.info/en_collection/stone_object/jayavaraman.html

The true gesture of Jayavarman VII statues was in the form of a sampeah – a Cambodian traditional way of showing respect. Source

Lol the sovereign 😂

To be precise, 84 (zolotniks) means 875/1000 silver fineness.

The town mark is hard to decipher but perhaps it may be Moscow - St. George on the horse?

No "kokoshnik" (face) mark would mean the item is from before 1896 marking reform.

And finally, "KF" is an intriguing maker's mark because it was used by none other than Karl Fabergé - most known for his famous Faberge eggs.

But, just keep in mind that his mark would probably be also the most copied one. I am no expert on his work and have no idea if this ring is genuine. The symbol of a double-headed eagle on a cross is used on many various items in Russia and maybe it even has some meaning to it (but this I'm just guessing).

1 minute ago, Alex944 said:

Thanks a lot for including a link of that auction! I still have a lot to learn I see. Surprised it didn’t sell at 40€ to be honest, though that may have just been little interest in that period. Perhaps 35-50€ is more realistic. 

Yeah, sorry for being a messenger of bad news. You can also check offers on ma-shops where there's a variety of conditions and prices https://www.ma-shops.com/shops/search.php?searchstr=Netherlands+2+1%2F2+gulden+1868&catid=-1&sortby=preis_exclship to get an idea, keeping in mind that ma-shops asking prices are typically above what's fair market value.

It's however still possible that on eBay this coin could be sold to an uninformed buyer for more - it's eBay, after all, where anything is possible 🙂

Is this the same coin? If so, it was on auction earlier this year with starting price EUR 40 and went unsold...

https://numis24.com/lots/view/61d5b91539e3832ab6278b3e

8 hours ago, Silverlocks said:

I feel like Twoflower everytime I go there.

Big like to you for this unexpected remark - put a big smile on my face!

3 hours ago, Silver2022 said:

To earn $12000 from stock markets, you will have to invest/spend $50,000. That is the main point

This is getting somewhat confusing. So buying shares is "spending", while buying silver is "investing"?

Sorry, I'm still missing your point. If the goal of this thread is to convince people to spend less and thus save some more money, that's ok I guess. But how this calculation of the yield from the stock markets fits in the discussion of whether gold and silver are good investment I have no idea.

1 hour ago, Silver2022 said:

Let's say you spend $2000 less per month, you will have $12000 in 6 months. To earn $12,000 from stock markets or investments you will have to invest $50,000. You can lose all your money. Gold & Silver are safest investments. So spending less is better than investing. 

So, spend less in order to have money to buy silver? Or what is your point?

On 17/08/2022 at 16:10, Happypanda88 said:

 

It is often reported that the mining industry mine about 8-parts of silver to 1-part of gold ore globally. In other words, for each metric ton of gold production, there are 8 metric tons of silver.  And yet the current price of gold to silver ratio is almost 90-1.  So yes, IMHO silver is probably the most undervalued asset in the world.  Others might disagree, but they are wrong ! 😎

Then what about for example platinum? Platinum's production is just a fraction of that of gold. And yet, it's cheaper.

Unfortunately, production ratios can not be conclusive for an asset's price...