LawrenceChard

It's from TDC, FFS! What % premium over spot did you pay?

You could ask what people think about Rosland Capital, but this misght give you a clue as to what I think of them: https://www.goldcopyright.co.uk/copyright-abuse/rosland-capital-using-copied-images/

Could be even better without! 🙂

Hi-ho!

Why sell at 4% discount when you can get spot?

That's quite a generous bid. It's only £10 each less than @ChardsCoinandBullionDealer, although they do need to be genuine, and better than scrap or ex-jewellery. 🙂

You never heard of @ChardsCoinandBullionDealer? Currently paying spot (£317).

Sell on here without doubt. For a small quantity, possibly. For a larger quantity, probably not. Go to a dealer, you are unlikely to be offered more than a couple of percent below spot. Unlikely more than £300. Sure, if you go to a local coin shop, a jeweller, or a pawnbroker, that's possibly optimistic. Go to a good bullion dealer, and you should be able to sell any quantity and at a much better price. @ChardsCoinandBullionDealer, we would be delighted to take 1,000 off your hands at spot, subject only to them being genuine, and of acceptable bullion grade or better. They don't even need to be George V. Prices here https://www.chards.co.uk/gold-price/live-gold-price as I speak, with spot £1,346.70; intrinsic sovereign = £317.01 each, immediate payment by bank transfer, possibly cash! £317 is a lot higher than £300! 🙂 Put it on ebay and to get £330, you will have to sell for about £380 to cover the fees of about 15% final sale. Sounds about right. Alternatively, put it in an auction with 10% sellers fees and cross your fingers, while waiting several weeks. ... and who is going to bid 10% over spot for them? I suppose I should disclose an interest!

They omit to mention that the 1915 is a restrike. There are also other issues with the listing.

I do often make critical comments about some of the CMCs, in full awareness of defamation laws. I think some people dismiss this as "slagging-off" competitors, but I always retain any evidence to support my views. I do wonder that else I could do to bring about greater awareness of the problem.

I'm glad people are stacking their coins with care! I too would always prefer people to take resonable care of their coins. Sure, an RM tube is probably the most efficient gold/sq.in but they rub! 400 ounce good delivery bars, or even kilo bars are more space efficient than coins in RM tubes, but not really as enjoyable unless you have enough of them. When I see @LawrenceChard shuffling sovereigns in his hand, I cringe!! I'm sorry if me shuffling sovereigns makes you cringe. I tend to only do it with circulated coins, and even then I try to minimise the relative movement between them. There is a trade-off between processing efficiency and handling damage. Sure, they're only bullion and they're not 999 but it seems so wrong....I mean, they're £300 plus. Yes, I keep forgetting they've gone up from £4 You wouldn't chuck your Snap-On tools in a toolbox, no, you'd put them back on the socket rail they came from! What's a socket rail? 🙂 On a serious note: I cringe at some of the treatment people give coins: We quite often get proof sovereigns and proof sets, where the owners have had them all out of the capsules, got fingerprints and scratches on the coins, discarded the RM certificates, and chain-smoked so the boxes reek of smoke, and we have to "quarantine" them until the smell goes. I remember collecting a large quantity (1000+) of sovereigns from an exclusive London address. The owners had bought them from us some years before, and paid extra for some new minty ones. When we arrived to collect them, we discovered they had let their kids use them as toys, so there were no longer any minty ones. Another time, a chap bought a lot of modern proof gold from us over a few years, then some years later decided to sell them. He had taken the capsules out of the boxes so they could fit in his safe, but then let his grand-daughter sell many of them on ebay. the boxes he still had stank of tobacco smoke. On a slight tangent, another thing which we find frustrating is when people bring us quite large "collections" of modern issues they have bought from one or more of the coin marketing companies. Often these are old people, usually not internet-savvy, and they have "invested" for their children, grand-children, etc, but never done any research until too late. It is quite common to hear that people have spent 6 figure amounts of money. One recent example must have cost about £600,000! We ended up paying him about 60% of that, but only because gold prices had gone up since he bought them. If he had bought bullion sovereigns, Britannias, or similar from us, he could have been getting over £1 million for them. As it happens, there were many interesting coins, mainly because they were "new to us", but many of them are not highly sought after, and it requires considerable marketing effort to find good new homes for them. I suspect many dealers would have just bought them for scrap.

To understand things, it makes sense to analyse it into different parts. First, not all coin/bar dealer businesses are the same. Some are mainly distributors, and handle almost exclusively new goods. If their customers are happy to buy on the understanding they will have to wait because there are transport and production delays, then these distributors can continue doing business. On the other hand if they have some customers who are not prepared to wait, but must have something now, then it makes sense to increase the price / premium for those items they do have in stock. Wouldn't you as a stacker do the same thing? Is this ripping buyers off? Then there are more traditional dealers who actually "make a market", principally on previously owned secondary market goods. If buyers are queuing ups, but there anr not many sellers, again the normal strategy is to move buying and selling premiums up slightly. I know this is in the "silver" section, but let me give you an example using (gold) Krugerrands. Assume that in normal time, we buy and 99% and sell at 101%. In a period of high demand, we could sell out in a few hours, and not be able to buy many in, so we move our spreads to buying 100%, selling 102%. If this balances supply and demand, then we can continue trading smoothly. Then there are small local coin shops. They probably do a mixture of the above, but just on a smaller scale. If they relay on replenishing stock from a bigger distributor or market maker, then they probably just add their normal margin to whatever they get quoted, meanwhile probably making slightly higher offers on itesm coming in over the counter. I have already touched on this, but then there are also private individuals, stackers, and investors. If they can get higher prices / premiums than normal, they might be tempted to sell some of their holdings, and either buy from a big dealer for future delivery, switch into a different metal, or wait until peak demand subsides. From the above, it can be seen that there is not much difference between dealers and private individuals when it comes to decisions on pricing, buying or selling. Going back in time to the global credit banking crisis of 2007/8/9, I remember seeing a Krugerrand sell on ebay for an astonishing 27% premium. What a crazy buyer, and what a lucky, or opportunistic seller. Lastly, I believe that some, if not all mints, increase their premiums during high demand times, most big distributors certainly do, and shipping oosts increase.

Was that before or after you received the coin? 🙂

What from Rochdale, I thought they were cowboys! I guess you meant Monarch Precious Metals: https://www.monarchpreciousmetals.com/silver/silver-bars/more-specialty-silver-bars/1-oz-silver-relic-bar-old-world-style-egyptian-anubis-detail 1 oz .999 Fine Silver Relic Bar - Old World Egyptian God Anubis Jackal Thanks again.

How about ?

I thought he said "Bugger me, how did I end up in here?"

Thanks for the info. How are you fixed for translating the hieroglyphics? (or is that how you knew?)

Magic mushrooms, as in the story? This is rather ambiguous, and open to interpretation "so hopefully mine will get bigger". Let us know if it works, but please, no photos! 🙂

Yes, that is very nice!

Ancient Egyptian inspired silver bar. This arrived in at @ChardsCoinandBullionDealer recently in an assorted lot of various silver coins and bars. For now, I have diverted it to my desk. I have no idea who made it, as there are no easily identifiable makers' marks or hallmarks, unless they are in hieroglyphics. It probably is fairly recent. This side does have an english inscription "1 TROY OUNCE - 999 FINE SILVER" ...and the "Obverse": Anyone out there any good at translating Egyptian hieroglyphics? Thanks to @StackSellRepeat I now know it is from Monarch Precious Metals: https://www.monarchpreciousmetals.com/silver/silver-bars/more-specialty-silver-bars/1-oz-silver-relic-bar-old-world-style-egyptian-anubis-detail 1 oz .999 Fine Silver Relic Bar - Old World Egyptian God Anubis Jackal

I can't really help with an opinion about the negativity. I don't spend much time reading lots of the blogs, or watching videos, about silver prices, demand, squeezes, and when I do, I don't believe most of it. I have said in the past that I don't get involved with the hype, and this also applies to stories trying to talk precious metals down. Most of this stuff seems to originat with lobbyists or their followers. Having said that, when everybody thinks that something is going to go up, it usually does, but largely because they are all buying it, and prophesy is self-fulfilling. It is often just a short term thing though, and after a few day or weeks, demand and prices usually regress to where they were, or close to.

We just received our first delivery, but it is only a small qty, already sold weeks ago. Our next inward delivery is looking more like late June, but we have spent most of the last year waiting for stuff. Quality looks good for bullon. I just checked, and we bought (and paid for) this batch last month.

I checked to see whether it was a proof or bullion version they were offering. They describe it as "Very Fine". This also adds to its rarity. I have never seen a 2013 sovereign in VF condition before.

Although less so in the flesh!

Perhaps not, but you are much better informed! 🙂 (Oscar Wilde, I think).