Pete

Well spotted and good that the account was suspended.
So many false IDs and scams these days, some of which are getting more sophisticated that many people fall for them.
I have a string of free gifts ranging from new iPhones, flatscreen TVs etc waiting for delivery by UPS and other couriers if only I could correct an address which appears incorrect.
All started when I completed a Morrisons supermarket survey offering a £50 voucher as a valued customer - of course no voucher but dozens of unwanted spam emails every day.

Platinum arrived this morning with the 10 oz silver completer just released.


 
 
 

I really don't understand the platinum market in the UK.
Firstly there is very little around to buy and prices are grossly inflated in my opinion.
This tells me it is a seller's market so they list high prices hoping someone is sucked-in to buy.
I just checked the Royal Mint website.
A 1 oz bullion Britannia Pt coin is listed at £893 ( excluding VAT ) and spot at the time £812
That's a margin of 10%.
If you wanted to purchase this coin it would cost £1,071 with the VAT.
Now I obtained a quote to sell the same coin back to the Mint and they offered £654 only 80% of spot.
I find this impossible to believe so here is a screenshot.

Maybe there is a bug in their calculation but this does appear way too low.
Now to the VAT question.
How can differential VAT or margin VAT be used on some products including silver coins but not on secondhand platinum ?
I think it is down to the dealer or VAT registered seller to decide and it is a real pity that all secondhand silver and platinum is not sold on the margin scheme.
If it was then maybe the demand for new would be hit really hard so dealers aren't prepared to loose margin and who can blame them really.
Perhaps a business opportunity for an entrepreneur only dealing in secondhand that is VAT registered ??

PS - I am not selling so no offers please.
I am looking to accumulate but not at silly prices
 
 

Although:

A "One Pence" coin.
(By popular demand).
😎

Sorry we couldn't get them in quicker, but the RM retail side do have an obvious delivery advantage over us.
For a better comparison:
The Queen's Beasts 2022 1oz Platinum Bullion Coin
Bullion | 999.5 Fine Platinum
Price:From £873.81
Rated 0 out of 5
OUR PRICING* (ESTIMATED)
QUANTITY UNIT PRICE (EX VAT) 1 £891.85 2+ £888.88 5+ £885.83 10+ £873.81 In Stock
PRODUCT CODE: BQBC22PC
Which looks cheap, until you see:
Total £891.85
£891.85 per unit
(Ex. VAT, if applicable)
And the RM do not even show the VAT inclusive price, until you add it to basket, then View Basket:
Basket Total
£891.44
Investment VAT
£178.29
Delivery:
calculated at checkout
Estimated storage fee
£0.00
  Total
£1,069.73Inc VAT
Which gives a pretty poor User Experience on their site, in my opinion.
I suspect you knew when you bought it, that it would be available elsewhere for a lower price later, but that's a big price difference.
 
 
 

Thanks @Tn21
I am afraid you may end up facing reality when it comes to selling proof coins that you believe are worth much more than bullion.
I tried to sell a considerable amount of stunning, perfect gold sovereigns, boxed sets, Britannia's and boxed sets a couple of years ago.
Firstly on the forum - I ended up selling a significant percentage but at 1% over spot only.
I had regular buyers and they were not interested in certificates or boxes and I thought buying a boxed set would enhance their value but apparently not so.
The best prices from any dealers were 98% of spot whilst the same sets shown on their websites at twice this price, however they were not selling at these prices and one dealer offered me to buy his boxed sets at 3% over spot, regardless of the advertised prices.
In frustration one day I took a large carrier bag of unsold gold coin sets to Hatton Garden in London.
Their best price that day was 97.5% of spot.
Every coin was in FDC condition so I handed them over but kept the boxes thereby intentionally breaking up the sets.
I only wish I had kept the screw capsules as well as I felt I was being fleeced.
I still have a lot of empty boxes and certificates which I would rather sell at some stage rather than scrap.
Times change, prices change, opportunities arise and decline so I can only tell you what happened to me.
I think when gold is at a high, buyers are reluctant to pay much over spot.
If gold plummeted 15-25% from where it is today, then I believe buyers will pay more especially for nicer coins believing they are getting a bargain.
You might strike it lucky but I fell in love with my proof coins, was happy paying a hefty premium at the time of purchase etc. believing that a 20-30% premium over bullion would stick.
It didn't, so I stay well clear of buying premium proofs nowadays as lesson learned.

Some key dates and sought after coins and sets will retain a numismatic / collector premium but you need to research this thoroughly and not just look up well know sites to see what prices they list on their websites as an indicator of value. There will always be the exception to what I describe but that's down to luck and finding a buyer at the moment.

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

If the price per gram of fine gold is fixed by the seller and you can purchase say 20 x 1/10th ounces  or 2 x 1 ounces for the same price, assuming the coins are similar carat e.g. 22 ct or 24ct then  I would always go for the smaller fractional coins.
Two reasons - 1. you can always sell a few rather than the entirety and 2. generally in the open market people will pay a higher premium for smaller coins so you have a little more to gain when selling.

If the price per gram of fine gold is fixed by the seller and you can purchase say 20 x 1/10th ounces  or 2 x 1 ounces for the same price, assuming the coins are similar carat e.g. 22 ct or 24ct then  I would always go for the smaller fractional coins.
Two reasons - 1. you can always sell a few rather than the entirety and 2. generally in the open market people will pay a higher premium for smaller coins so you have a little more to gain when selling.

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

Absolutely perfect !!
That's what I am talking about - REAL Platinum on the S.F. and not some party pieces celebrating Her Majesty where everything is prefixed as 'Platinum'.
As for the Completer - already have one thanks.

Thanks @Tn21
I am afraid you may end up facing reality when it comes to selling proof coins that you believe are worth much more than bullion.
I tried to sell a considerable amount of stunning, perfect gold sovereigns, boxed sets, Britannia's and boxed sets a couple of years ago.
Firstly on the forum - I ended up selling a significant percentage but at 1% over spot only.
I had regular buyers and they were not interested in certificates or boxes and I thought buying a boxed set would enhance their value but apparently not so.
The best prices from any dealers were 98% of spot whilst the same sets shown on their websites at twice this price, however they were not selling at these prices and one dealer offered me to buy his boxed sets at 3% over spot, regardless of the advertised prices.
In frustration one day I took a large carrier bag of unsold gold coin sets to Hatton Garden in London.
Their best price that day was 97.5% of spot.
Every coin was in FDC condition so I handed them over but kept the boxes thereby intentionally breaking up the sets.
I only wish I had kept the screw capsules as well as I felt I was being fleeced.
I still have a lot of empty boxes and certificates which I would rather sell at some stage rather than scrap.
Times change, prices change, opportunities arise and decline so I can only tell you what happened to me.
I think when gold is at a high, buyers are reluctant to pay much over spot.
If gold plummeted 15-25% from where it is today, then I believe buyers will pay more especially for nicer coins believing they are getting a bargain.
You might strike it lucky but I fell in love with my proof coins, was happy paying a hefty premium at the time of purchase etc. believing that a 20-30% premium over bullion would stick.
It didn't, so I stay well clear of buying premium proofs nowadays as lesson learned.

Some key dates and sought after coins and sets will retain a numismatic / collector premium but you need to research this thoroughly and not just look up well know sites to see what prices they list on their websites as an indicator of value. There will always be the exception to what I describe but that's down to luck and finding a buyer at the moment.

Thanks @Tn21
I am afraid you may end up facing reality when it comes to selling proof coins that you believe are worth much more than bullion.
I tried to sell a considerable amount of stunning, perfect gold sovereigns, boxed sets, Britannia's and boxed sets a couple of years ago.
Firstly on the forum - I ended up selling a significant percentage but at 1% over spot only.
I had regular buyers and they were not interested in certificates or boxes and I thought buying a boxed set would enhance their value but apparently not so.
The best prices from any dealers were 98% of spot whilst the same sets shown on their websites at twice this price, however they were not selling at these prices and one dealer offered me to buy his boxed sets at 3% over spot, regardless of the advertised prices.
In frustration one day I took a large carrier bag of unsold gold coin sets to Hatton Garden in London.
Their best price that day was 97.5% of spot.
Every coin was in FDC condition so I handed them over but kept the boxes thereby intentionally breaking up the sets.
I only wish I had kept the screw capsules as well as I felt I was being fleeced.
I still have a lot of empty boxes and certificates which I would rather sell at some stage rather than scrap.
Times change, prices change, opportunities arise and decline so I can only tell you what happened to me.
I think when gold is at a high, buyers are reluctant to pay much over spot.
If gold plummeted 15-25% from where it is today, then I believe buyers will pay more especially for nicer coins believing they are getting a bargain.
You might strike it lucky but I fell in love with my proof coins, was happy paying a hefty premium at the time of purchase etc. believing that a 20-30% premium over bullion would stick.
It didn't, so I stay well clear of buying premium proofs nowadays as lesson learned.

Some key dates and sought after coins and sets will retain a numismatic / collector premium but you need to research this thoroughly and not just look up well know sites to see what prices they list on their websites as an indicator of value. There will always be the exception to what I describe but that's down to luck and finding a buyer at the moment.

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

Thanks @Tn21
I am afraid you may end up facing reality when it comes to selling proof coins that you believe are worth much more than bullion.
I tried to sell a considerable amount of stunning, perfect gold sovereigns, boxed sets, Britannia's and boxed sets a couple of years ago.
Firstly on the forum - I ended up selling a significant percentage but at 1% over spot only.
I had regular buyers and they were not interested in certificates or boxes and I thought buying a boxed set would enhance their value but apparently not so.
The best prices from any dealers were 98% of spot whilst the same sets shown on their websites at twice this price, however they were not selling at these prices and one dealer offered me to buy his boxed sets at 3% over spot, regardless of the advertised prices.
In frustration one day I took a large carrier bag of unsold gold coin sets to Hatton Garden in London.
Their best price that day was 97.5% of spot.
Every coin was in FDC condition so I handed them over but kept the boxes thereby intentionally breaking up the sets.
I only wish I had kept the screw capsules as well as I felt I was being fleeced.
I still have a lot of empty boxes and certificates which I would rather sell at some stage rather than scrap.
Times change, prices change, opportunities arise and decline so I can only tell you what happened to me.
I think when gold is at a high, buyers are reluctant to pay much over spot.
If gold plummeted 15-25% from where it is today, then I believe buyers will pay more especially for nicer coins believing they are getting a bargain.
You might strike it lucky but I fell in love with my proof coins, was happy paying a hefty premium at the time of purchase etc. believing that a 20-30% premium over bullion would stick.
It didn't, so I stay well clear of buying premium proofs nowadays as lesson learned.

Some key dates and sought after coins and sets will retain a numismatic / collector premium but you need to research this thoroughly and not just look up well know sites to see what prices they list on their websites as an indicator of value. There will always be the exception to what I describe but that's down to luck and finding a buyer at the moment.

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

I don't know if any other fellow stackers are having the same experience, but I am wearing thin with so many posts using the word "Platinum" in the title creating immediate interest only to find it is the friggin' jubilee. Got to start a campaign to restrict the use of 'Platinum' in a precious metals forum to the metal and not the anniversary.
😣
 

Platinum arrived this morning with the 10 oz silver completer just released.


 
 
 

Quick check just now on current prices in the EU -
2008 Mouse €150
2009 Ox €95
2010 Tiger €78
Rest steadily falling to around €70
With an exchange rate almost cancelling out UK VAT these prices could translate to £-sterling.
However private buyers don't allow for VAT so perhaps you might struggle to achieve these prices.
Probably get higher prices selling on eBay but will you earn the same after fees ?
 

Thanks @Tn21
I am afraid you may end up facing reality when it comes to selling proof coins that you believe are worth much more than bullion.
I tried to sell a considerable amount of stunning, perfect gold sovereigns, boxed sets, Britannia's and boxed sets a couple of years ago.
Firstly on the forum - I ended up selling a significant percentage but at 1% over spot only.
I had regular buyers and they were not interested in certificates or boxes and I thought buying a boxed set would enhance their value but apparently not so.
The best prices from any dealers were 98% of spot whilst the same sets shown on their websites at twice this price, however they were not selling at these prices and one dealer offered me to buy his boxed sets at 3% over spot, regardless of the advertised prices.
In frustration one day I took a large carrier bag of unsold gold coin sets to Hatton Garden in London.
Their best price that day was 97.5% of spot.
Every coin was in FDC condition so I handed them over but kept the boxes thereby intentionally breaking up the sets.
I only wish I had kept the screw capsules as well as I felt I was being fleeced.
I still have a lot of empty boxes and certificates which I would rather sell at some stage rather than scrap.
Times change, prices change, opportunities arise and decline so I can only tell you what happened to me.
I think when gold is at a high, buyers are reluctant to pay much over spot.
If gold plummeted 15-25% from where it is today, then I believe buyers will pay more especially for nicer coins believing they are getting a bargain.
You might strike it lucky but I fell in love with my proof coins, was happy paying a hefty premium at the time of purchase etc. believing that a 20-30% premium over bullion would stick.
It didn't, so I stay well clear of buying premium proofs nowadays as lesson learned.

Some key dates and sought after coins and sets will retain a numismatic / collector premium but you need to research this thoroughly and not just look up well know sites to see what prices they list on their websites as an indicator of value. There will always be the exception to what I describe but that's down to luck and finding a buyer at the moment.