Jeffers46

I think there are a few "levels" to this, and I think everyone sells coins to one level or another.
1) collectors using backdooŕs to give themselves a chance.
2) collectors who might sell more often than others, perhaps quite quickly 
3) scalpers who are in it purely to sell immediately 
4) potentially scalpers who do it at scale.
The more time goes on, the more ambivolent I am to what peoples motives are. With the exception of perhaps number 4, if indeed anyone is doing it at scale.
The only conclusion I have came to, is do what it is you need to in order to get what you need. Ultimately for me, that means if there is a backdoor find it!
 

I do think part of the image of the coin is taken from the RM website.
They were posted earlier in this thread somewhere.
For me, I can't wait to have them both, should I be lucky enough to do so. I think they will be amazing together. Each to their own of course.

I'm telling everyone to wait to march to see true price discovery when set is complete....but now find out its Feb,the day after the sotd sov??
Is RM trying to sabotage their own future 🤔 

The RM should have offered a 2-coin box with the second coin for those who signed up for the continuity option.

Encouraging results yesterday at heritage stateside 

Anyone who recently flipped their GC coin(s), might want to look away. 

Truly awesome result for those that were lucky enough to get one and hold. Lord knows what these are going to go for when the second coin is released!

If that is the case and you are a collector, it doesn’t matter. Why? You are holding the coin so eventually the flippers will be out of the way and the true value will be realised by the free market.
I’m a bit Fed-up of reading snarky, snidey comments. Life is too short! 

Agree with you James.

Don’t we all buy any coin with the hope of it rising in value, be it straight away or over time? Whether you sell it now, in 10 years time or decide to hand it to your children, the assumption we all make is that it will be more valuable at that point. So what difference does it ultimately make?
 
I don’t get the animosity on here towards people that sell their coin immediately. Who cares? Once you own it you are free to do with it as you please. Likewise if you don’t own it you are free to pay asking price or leave it. It’s down to you as an individual, freedom coinsters, freedom. We are blessed to have just to have this opportunity.
 
After all, we can’t take our coins with us when we pop our clogs. 
 

These conversations happen after every release date....."It's sold out now".... "Dam ques and mintage numbers, i would have got one if it weren't for you meddling millennial kids!"
 
"Who's seen any one sell one to gauge secondary prices?". Followed by the.... "Dam flippers, trying to make profit. But what did it sell for?"
 
"So who's grading?"......"Yuck, who would put it in a plastic tomb"......"Ooh, baby, I like it raw. Yeah baby, I like it raw. Shimmy shimmy ya, shimmy yam, shimmy yay" 🤣

Collectors (like me) will buy the coins because they like them.  Flippers couldn't care less whether they like them or not.  They are interested simply in selling them for as big of a profit as possible.  I have never sold a coin.  The coins I buy are because I like them for my collection.  That's also why I buy only one of each coin.
I am on a couple discussion boards in the U.S., and flipping here is a big business.  People buy hundreds of coins to sell them.  Flippers have stooges buying for them when there is a household limit from the U.S. Mint.  Many also use bots which really tie up the Mint's website when a hot coin goes on sale.  It's going from a beautiful hobby to big business.

I really like this release today but just couldn’t stretch to it. May try for a silver on the secondary in a week or 2 

I really like this release today but just couldn’t stretch to it. May try for a silver on the secondary in a week or 2 

Got some on the way, thank you!

They were on Jody Clark the engravers desk at the RM 😂 
Ebay  😂😂

Going to have a look at the mintage figures before i buy 

Thank you all for your most helpful comments.
 
I’ve had a good year in crypto and got a letter from HMRC after withdrawing to FIAT from coinbase. I’m really close to having to pay some CGT. It is an absolute nightmare trying to work out everything in the crypto world so I’m using an app that calculates it for you and produces a tax report. You are only taxed on the profit above that threshold, not the first £12,300. 
 
I sold my silver 2oz QB’s ten-coin set earlier in the year and my one ounce gold proof completer. Plus some £20 First World War silver coins. (Much to the annoyance of some on here it would seem 😂). All of my buyers were very happy. 
Do I have to let HMRC know and mention they are CGT free as stated on the RM’s and other websites? Or just exclude them altogether? 
Personal income tax is an entirely separate issue 👍🏼

Genuinely don't see it staying at £400ish come march when set is complete. 
Feel for people that bought high though due to the hype.
If I bought in at £800, personally I'd buy another now at £400 to cost average down to £600 ,then feel a little safer.
 

Boats are very unstable craft and the HMRC know and understand the amount of gold a small vessel can hold 🤣

The following is not formal tax advice. This is just my own understanding of the rules. Please seek professional advice if any of what I say does not make sense.
If the total profits from your capital gains is less than your annual allowance then you don't have to even report it or record it on your tax return.
Personal allowances are £12,300 per person.
If you are married assets can just be gifted to a spouse thereby making a married couples allowance £24,600
Remember, this is PROFIT allowance.
Any UK coin by the royal mint is CGT exempt so you don't even include it in the calculations.
Example.
You sell a gothic crown and make £10,000 profit, this does not count at all.
You sell a 100 oz gold bar and make £10,000 profit, this counts but if this is all of your gains in one year it doesn't need to even be reported.
Let's say you sell a second 100 oz gold bar for another £10,000 profit.
Your total profit is £20,000 
You will need to declare this on your tax return.
You will pay tax on the £7,700 that is over the threshold (rate depends on your income tax status).
If you were married, that second bar could be your partners allowance. So neither of you need to declare as each of you have only made £10,000 profit.
 

Good Morning you knowledgeable lot,
I was wondering if anyone can help me- I have sold a gold proof coin for a profit, do I have to declare it on a Capital Gains tax submission for a private sale between 2 private citizens?
Best wishes,
Jeffers

Slightly tangential to the whole flipping topic… but imagine having a et of all four 2 Oz gold coins. 😭
That’s not me crying - just my eyes watering.

I think thats fair enough, but I imagine the vast majority of us, regardless of out respective nett worth collect within a range of affordability. I think for most of us a £5k gold coin is either unaffordable or a serious investment. If that coin never really changed much in value those who could afford it would likely be happy to hold and enjoy. But if that coin becomes worth 20k that collector needs to seriously ask themselves is it worth 20k to me, would I buy it for 20k, could I afford to buy it for 20k, do I want a 20k coin in my collection, etc. If the answer is no to any of those questions then I think its time to sell to someone who will answer yes to one or more and everyone moves on, the seller happy they had one for a while and isnnow able to buy stuff that suita their affordability and the buyer enjoying their valuable collection. 
Dont get me wrong, there a handfull that have just come in to the market as they see rhe margins, but i have no issue with them as to be successful they need to do a lot of research first. I also genuinely don’t think they refelct the majority of what alot of people here and elsewhere are grouping as ‘flippers’

I think this is why the prices depreciate so rapidly. The success of these coins have caught the attention of more than just coin enthusiasts. Personally, I don't blame anyone. We all want a free market.
Most members of this forum would acquire multiples of these coins given the chance. Some were lucky enough to have secured two coins while others missed out entirely. I consider myself lucky to have got one but disappointed it wasn't the two coin continuation. I have no problem with anyone that has done better than me in acquiring their coins. They are in a position I'd like to be in.
I must say I do wonder how some people seem to have a very high success rate in acquiring their coins through the Queue-it system. They seem to be at the front of the queue every time. Is that really by chance. It's not a criticism and I wouldn't expect them to share their secrets with an online forum, so I don't blame them. But It is a tad irritating when you're 4000 in the queue and wondering if there's a trick to get to the front.
Then there's the mint marquee. The cat's out the bag with that one. I wonder how RM will cope with a huge increase in members. I predict it won't be quite so exclusive in the near future. except for the upper levels possibly
 
This and the fact that RM have been fulfilling the orders in batches can potentially keep the price down as more coins have yet to reach the market.
But it's still early doors.  What will these coins be worth in a few years? We're only 3 coins in to what could be the best series RM have ever produced
 
It's definitely a factor but I wouldn't say it is ALL hype. It's a fantastic series. RM have the opportunity to keep it that way if they don't ruin it by raising the mintage figures and various denominations. 
How long will the hype last? What is the value of each coin once it subsides? Who can tell? Maybe they are currently overvalued. Maybe as the series unfolds and people need to backdate their collection, the current prices might look cheap... 🤷‍♂️ 

I’d be interested to know if my latest exploits deem me a flipper or not:
i bought the silver 2022 annual sets as I wanted the JC crown. I don't want the rest, not my thing and they are expensive. So I've stripped it out the set. I had offered the remainder here at what was equivalent to less than cost. No one wanted them, fair enough, so I've shot the lot on ebay to move on. If those coins sell and I effectively get the crown I wanted for cheap, next to nothing or even make more than the whole set cost does that make me a flipper? but if they sell for nothing and the crown costs me a 80% of the set price does that make me a collector? some would say how can I be a collector splitting a set up, but thats exactly what the daddy of flippers does, the RM and i’ve collected the crown(s).

Fair enough, I was a little confused by your reaction but I can see why the constant bemoaning of flipping is tiresome. To an extent I agree we are probably all flippers in the long term with something so I'm certainly not against making a profit, it's just dissapointing to see people here denied a chance to own something that would have meaning to them while seeing items on ebay within minutes of the sale ending.
 I may have been a tad snarky at the end though which was possibly uncalled for and did get me a telling off which was fair enough