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papabearxxx
Reputation Activity
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papabearxxx got a reaction from Hunter87 in A couple Qs regarding grade C sovereigns & best bang for buck coins for someone looking to buy gold in the UK.
Hi there guys.
I am new to buying metals, so please be kind if what Im asking is irritatingly noobish.
Im based in the UK, and want to turn some of my bank digits in to physical wealth in the form of gold with the intention to hold, not to regularly buy and sell. At the moment, I plan to start off with buying 5 full sovereigns from a reputable Uk website..... But the thing is, they have 3 options. "Mint", "Secondary", and "Grade C".
Minty = £309.27 - Gold weight 0.235 Troy oz
Secondary = £308.38 - Gold weight 0.235 Troy oz
Grade C = £297.49 - Gold weight 0.2328 Troy oz
Intrinsic value £294.54
Im not bothered at all from scratches and dents as I quite like it when coins have these, it gives character and makes you wonder about their pasts. Furthermore I won't view my gold purchases as an investment for money making purposes, but purely just for wealth protection.
So.......
1. Am I best off going with the grade Cs - If I were to change them back to fiat in years to come, will they really undercut me big time because its dented etc? - They will afterall have at least more than 0.23 oz of gold inside them. (Note: I did say I do not care about profiting, but at the same time I would like value for money)
2. Would sovereigns even be the best way for me to go - Being not fussed about CGT, are there non-British coins out there with better premiums and bang for buck that I can buy and sell as close as possible to spot as possible?
Any responses will be kindly appreciated!
Best regards,
O.
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papabearxxx reacted to SilverDrum in A couple Qs regarding grade C sovereigns & best bang for buck coins for someone looking to buy gold in the UK.
Yes the low grade C will carry a lesser premium on resale, but also the "Minty" option may not retain all the dealers premium when sold privately. Even the mint coins will get spot on resale to dealers. The happy middle ground is the Secondary, or finding good deals on minty fresh coins as the are available.
Truth is that they are all good purchase's, as long as the spot goes up 😅
Also noted that the quoted price's are for "Order-able" products, for which you could have an indefinite wait for delivery. If looking to hold your gold any time soon i would purchase else where!
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papabearxxx reacted to Paul in A couple Qs regarding grade C sovereigns & best bang for buck coins for someone looking to buy gold in the UK.
@papabearxxx i see you are in London - to ensure immediate in hand delivery, you can look at buying in person
you got Hatton Garden Metals & Baird & Co, in Hatton Garden
ATS Bullion at the Savoy Hotel
and Sharps Pixley close to The Ritz on St James St
All dealer with great rep
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papabearxxx got a reaction from Coolsmp in A couple Qs regarding grade C sovereigns & best bang for buck coins for someone looking to buy gold in the UK.
Hi there guys.
I am new to buying metals, so please be kind if what Im asking is irritatingly noobish.
Im based in the UK, and want to turn some of my bank digits in to physical wealth in the form of gold with the intention to hold, not to regularly buy and sell. At the moment, I plan to start off with buying 5 full sovereigns from a reputable Uk website..... But the thing is, they have 3 options. "Mint", "Secondary", and "Grade C".
Minty = £309.27 - Gold weight 0.235 Troy oz
Secondary = £308.38 - Gold weight 0.235 Troy oz
Grade C = £297.49 - Gold weight 0.2328 Troy oz
Intrinsic value £294.54
Im not bothered at all from scratches and dents as I quite like it when coins have these, it gives character and makes you wonder about their pasts. Furthermore I won't view my gold purchases as an investment for money making purposes, but purely just for wealth protection.
So.......
1. Am I best off going with the grade Cs - If I were to change them back to fiat in years to come, will they really undercut me big time because its dented etc? - They will afterall have at least more than 0.23 oz of gold inside them. (Note: I did say I do not care about profiting, but at the same time I would like value for money)
2. Would sovereigns even be the best way for me to go - Being not fussed about CGT, are there non-British coins out there with better premiums and bang for buck that I can buy and sell as close as possible to spot as possible?
Any responses will be kindly appreciated!
Best regards,
O.
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papabearxxx reacted to Paul in A couple Qs regarding grade C sovereigns & best bang for buck coins for someone looking to buy gold in the UK.
given the unique terms you have like "MINTY" "GRADE C" it singles them out as a certain UK dealer you are considering buying from
whatever you are buying, read your fine print before committing, or you may find youll have to wait weeks or months to get them in your hand
Not a great business practice, selling stuff you don't have, but some buyers seems to like it to save a couple of quid on the purchase price
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papabearxxx reacted to TringSilver in A couple Qs regarding grade C sovereigns & best bang for buck coins for someone looking to buy gold in the UK.
My 2p would be that grade C "should" always get you spot or what the dealers are paying on any given day in line with the spot price. IE 97% or whatever their offer may be (they have to make a cut remember)
Mint coins should get the above but you may be able to realise more on private sales, it's up to you if you want to take the extra £40-50 hit now on that potential upside.
Just remember that some of these options could be on order with indefinite lead times as the dealer waits to get them in the door. So just be mindful of how patient you are.
I generally buy mint coins that can be delivered the next day or so.