Ukbullionfan

Will I have to purchase a Nando’s for @Mtaybar ??? Who knows but stay tuned to find out soon!!!! 😑

I wonder if it will hit $2000 before close of play tonight ? 
 

If it does I owe the first person to quote this post a Nando’s !!! 😂

Looks like gold is stabilising around 1440. Give or take 5 either way. 

1 hour ago, LawrenceChard said:

Yes there is. In fact there is a reason for everything we do, and all our policies. We believe these are good valid reasons.

We are also highly transparent about our business, and many of the reasons we make particular decisions.

We have a blog page here:

https://www.chards.co.uk/blog/free-postage/26

Which explains a lot about so-called "free-postage".

"Free postage" is propaganda, and an illusion, which unfortunately fools many gullible people into thinking that they are getting something for nothing, when in fact they are often paying more for it. If I remember correctly, I have also posted an article on TFS about it. 

However, as you asked, let me give you a little history:

Once upon a time, two cousins opened a coin shop in Dale Street, Blackpool. Amoongst other things, they (we) bought and sold gold sovereigns. Our shop was "bricks and mortar". Most of our sales were to local people, from perhaps a 20 mile radius, but people also travelled from further afield like Manchester and London to buy from us.

Most of our trade in those days was in person, over the counter, but we also offered mail order, including for gold sovereigns, almost the only gold bullion coin available or worth buying in those days. Krugerrands were not invented until 1967.

One of our old adverts in Exchange and Mart read:

Gold sovereigns £4 each, £37.10 per 10, £365 per 100, £3500 per thousand. In those days, we traded as R&L Coins, at number 10 Dale Street, Blackpool. Perversely, these prices included postage although we did not claim postage was free, partly because the advert would have cost us more.

The main reason I have related this is because we were "Bricks and Mortar", before the term was even coined It was well before the internet and "clicks". In 1998, a little late, we set up one of the first coin dealers websites 24carat.co.uk, which still exists and works, although it has started to creak slightly. We were now "Clicks and Bricks", although the term had not been invented.

Apart from a few old adverts similar the above, we used to charge postage separately on mail order transactions. With our website, our mail order business grew, but we have never abandoned our showroom base. It was the simplest and fairest method, and at least 99% of people were happy with it.

We offer free collection, which many of our competitors don't, because they don't have a showroom or shop, and don't want the extra inconvenience of people turning up on the premises, taking up staff time. Shops and stores cost money to run. Why waste money on providing this facility, when you can run a "cut-price", no frills services, where people have to buy online, pay online, and you don't need to employ knowledgeable staff to deal with customer enquiries. 

I say "cut-price", but most of our competitors charge more than we do, so I should have called it "cut-cost". 

At this point I should ask you a question:

Do you or have you ever worked out a pricing system for any business? How are you at arithmetic, maths, logic, algorithms, formulae, spreadsheets, databases, and I.T. systems?

If you can truthfully answer "yes" or "good" to the above, then you will understand that developing an automated pricing system requires a lot of knowledge, skill, and care. But I suspect you don't because otherwise you would not have asked the question.

If not, then how would you go about designing a system which would calculate prices, including quantity discounts for, for working out your retail prices for every quantity from 1 to a few thousand? Two answer spring to my mind. The first is "with great difficulty", and the second is "you wouldn't". We find it simpler, easier, quicker, and better to operate a system whereby we price the actual goods, then calculate shipping costs separately, rather working out prices including shipping. We are are quite simple people!

It is almost beyond doubt that our "free postage" competitors set their prices by looking at their cost price, adding their margin, adding postage packing and insurance, to arrive at their retail price. Then they lie to you and all their customers by telling you that their postage is free, which it is not, but you believe it because we want to believe it. In our business, we do not treat customers as suckers, prefering to treat them all as intelligent, sensible people, unless or until we discover otherwise.

Another bit of historic information:

When we set up our first website, we wanted a simple postage charge system, so we decided on (within the UK):

£2 postage at customers own risk, or £5 fully insured.

This was easy for us to implement, and easy for customers to understand

Eventually, it started to cause a problem. When someone phoned us and wanted to invest a large amount, for example £100,000 on gold coins, they were understandably unsure and concerned when we asked only £5 to post and fully insure the delivery. Sometimes, I or a staff member had to spend valuable time and energy assuring customers that our paltry charge did indeed cover full insurance. In fact, the cost to us was around 0.11% at the time, so on a £100K sale, we were subsidising the shipping cost by about £100 equivalent to about £1 per thousand, because it was easier to calculate. We possibly even lost some sales because we were not charging enough! Eventually, we learnt our lesson, and changed our shipping costs to £5 per order (later £6), plus £1 per £1000 insurance. Most of our customers were happier about this than they had been before. We have tweaked these charges to fine tune them a few times since.

If you feel you should only buy from people who offer free postage, then if you want a brand new 2022 bullion sovereign, you should buy one from Harrington & Byrne. The run a loss-leader strategy to get your name on their mailing list. Don't do it by phone, otherwise you will lose about 20 minutes of your life trying to avoid their unethical and possibly illegal "bait and switch" tactic. They then follow up by offering you lots of rip-off price items, and exclusive new issue coin offers, which most dealers don't offer so there is not much competition. If you like any of their other stuff, and can wait a few years, you should be able to buy it on the secondary market at much lower premiums, possibly half price. Their loss-leader offers are limited to one per household per year, so if you wanted to buy a second coin from them, you might be able to, but only at their higher "usual" price, and the two coins will cost you more than buying from Chard, even after postage.

You will also find that many of the bullion pages of our Chards website include a UK dealer price comparison, and this includes Chards prices with and without postage, to make comparison quick, simple, effortless for our customers, and transparent. For example:

On our 2022 Gold Sovereign Bullion Coin page

https://www.chards.co.uk/2022-gold-sovereign-uncirculated-coin/15066 

Price Comparison Against Other UK Bullion Dealers - Updated at 01-Mar-2022 06:34

Qty	Chards (Excl Delivery)	Chards (Inc Delivery)	B*	G*	A	BB	UKB
5	£353.46	£354.86	£358.80	£358.70	OOS	£360.05	£361.25
10	£352.46	£353.26	£358.00	£358.00	OOS	£359.55	£360.52
25	£351.12	£351.56	£357.30	£356.90	OOS	£359.05	£359.98
50	£350.62	£350.96	£356.60	£355.90	OOS	£358.55	£359.43
100	£349.78	£350.07	£355.90	£355.00	OOS	£358.25	£358.71
250	£349.62	£349.96	£355.60	£354.60	OOS	£357.85	£358.35
500	£349.28	£349.57	£355.20	£354.30	OOS	£357.55	£357.98
1000	£349.11	£349.37	£354.70	£353.60	OOS	£357.55	£357.44

As far as I am aware, we are the only UK dealer to feature this price comparison. Our competitors don't want you to be able to compare easily, for obvious reasons.

I could say a lot more, but I have other stuff to do.

😎

P.S. I just realised I could have answered your question much more quickly and easily by saying:

"Yes"

😎😎

 

 

 

That was a cute reply fella. Anyway if you didn’t charge for P&P it wouldn’t really affect your wealth would it ? You would become even more of cult hero. Let’s say you did whipe out the P&P you would still make money in the premiums.

3 hours ago, LawrenceChard said:

No, most UK banks don't even deal in bullion coins. The Royal Mint does but it is uncompetitive, closed at weekends, and even closes when things get busy.

Privately owned coin and bullion dealers make a competitive market in gold and other precious metal coins, and bullion bars.

@ChardsCoinandBullionDealer in Blackpool, which I founded, is one of the most competitive, and is also the longest continuous operated coin and bullion dealer in the UK.

You may sometimes be able to buy or sell small quantities at smaller spreads here on TSF, or at some of the smaller UK dealers, but for quantities over 1 single piece, we try to be the most competitive. We are also better resourced and more professional. Our bullion coins are guaranteed genuine. Our website and backend systems are highly secure. I cannot speak for our competitors on these last two points.

In case you were not aware, our website is here:

https://www.chards.co.uk/

I tried to gently hint at it earlier, as I try not to actively self-promote.

 

Any reason why you have decided to charge postage and packaging ? Bullionbypost don’t and you are cheaper than most but when you add the cost of P&P you are either level with most or just a tad over. Any plans to scrap the P&P charge in the future ?

5 minutes ago, Jvw said:

Just buy what you like and can afford. In the long run it doesn't make any difference. Gold will always rise. Buying the dip won't work. 

If there is a sup then it will work. Do you mean. “Don’t rely on their being a dip”

I’m really not sure what to do. I wanted to have a strict approach this year on not paying over £335 for the new 2022 sovereigns. I’m in a situation where I can buy now but seeing then at nearly £360 each is putting me off. I could wait it out and hope it comes back down but then I’m concerned of the price going even higher and maybe we not see the price go much lower than £1350 ever again. Oh guys what to do? What to do ? 😩

Starting to lower now back at 1453

1 hour ago, SovereignBishop said:

So folks are we going to see £380 sovs soon and will anyone here actually be buying at a high price ? 
 

 

Last year I bought ten 2021 sovereigns at these prices.

2021 Gold Sovereigns £341

2021 Gold Sovereigns £324.90

2021 Gold Sovereigns £324.90

2021 Gold Sovereigns £324.90

2021 Gold Sovereigns £325.30

2021 Gold Sovereigns £330.60

2021 Gold Sovereigns £329.50

2021 Gold Sovereigns £331.90

2021 Gold Sovereigns £331.90

2021 Gold Sovereigns £326

Sub Total £3290.90 (£329.09 average)

<sorry it was a copy and paste from my notes>

So far this year I have only purchased two 2022 ones. One for £333 and £337. Small average of £335. I wanted to buy ten in total this year averaging at £335 a piece. I doubt that will happen now.

Will it hit £1450 by Friday night 🙈

Hey guys I just wanted to know why sites like bullion by post have such high premiums in silver especially when there’s VAT added to the total price too.

For instance the price of silver is around £17 per ounce at the moment. Most of the 1oz coins are around £24/£25 pound each then when you add on the VAT it’s hitting nearly £30 pound an ounce.

Why such high premiums ? It seems silver is an awful investment as it could take decades to even break even. Being in the Uk seems that physical silver would be an awful investment. Am I missing something ?

Laughed out loud to many of these posts while in public places on my own. Some of the looks I were getting was worth it lol.

£1366 today!!!

1 hour ago, scotwasp said:

For now I operate on the basis that it doesn’t matter too much what happens to spot as long as I don’t intend to sell, but this forum hasn’t half made me realise how much the PM markets seem to be manipulated. I do believe that you can’t maintain this indefinitely, eventually the market will burn those who are managing to control it, .

it might take a long time but will happen. In the mean time I try to make lots of smaller purchases throughout the year to try and flatten my risk as I just can’t read the movements yet!  
Maybe getting this wildly wrong but for now ? 

Great post and spot on (pardon the pun lol)

Maybe a silly topic so if not allowed I understand if mods remove.

So I see lots of tubes for say ten coins etc but when you put these coins in the tubes do they fit with capsules too ? So I  got ten 1/4 ounce gold brits all have a capsule will they all fit in there with capsule ? I don’t like the idea of them touching each other jangling around and maybe cause slight marks.

thanks for any reply in advance 

3 hours ago, MJCOIN said:

4th Jan for the bullion version I believe.

Where did you see this ?

Price is dropping !

Has there been an exact release date of the normal 2022 one being released yet? apparently it’s already been out some places have told me . I’m not sure if they were chatting fraff though.

With lockdown looming I think it’s time for everyone to buy the dip lol. When this “plan b” or even “plan c” kicks in I can see the gold going up to £1500-£1600 but not until January when I predict a lockdown will happen if their is to be another one.

Boris Johnson gets COVID, the economic situation in the Uk busts after another lockdown sees gold goes up to £2000. 🤣

Hey guys in new to the forum. When you are purchasing “proofs” that’s are basically double what they are worth is it for collecting reasons ? Also when you get then graded is that the same thing too ? Also what’s good to get graded and not to get graded ? Only proofs to be graded ? Thanks 

Hey I haven’t been active for a day or two due life lol. Wow though, I’m grateful for the responses and I think I will get my way in by mingling with you great people and build up my report with people before I delve in to offering trades etc . I would like to come across trustworthy. 
 

My goal is to trade up from my small prices into bigger pieces though. 
 

I have a question that i will ask in one of the subs when I have time to write out what I want to ask lol 

thanks again.

Hello there guys I’m new to this forum . I use Reddit under the same username. I’m looking to buy and trade on here and gain some knowledge too. The premiums on silver really are bad you must agree ? Lol .

I am mainly in here in the hope to trade up my gold bullion to higher values. Do people just have to trust users in here to send the items once paid ? Anyway looking forward to interaction with many of you members.
 

Is their a release date yet for the standard 2022 sov?