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Sparrow's Achievements

  1. In my opinion, no coin is a waste of money if you find it beautiful and interesting and want to add it to your stack/collection. Will it go up in value over time? Maybe, maybe not. But if it brings you enjoyment then it's a great purchase regardless.
  2. I'm predicting a thin deal with the UK probably gradually establishing a closer relationship with the EU over time. (Can't beat geography.) So I guess that would fall under your option 2. I don't see another referendum getting through parliament, and there would be little point as the UK has already left the EU. And as for hard Brexit, I am assuming that you are referring to no deal because what the UK is facing is already a pretty hard version? If so, yeah, the only way that would ever happen is by accident. (Which is a little worrying when you consider the UK government's track record for incompetence) 😬
  3. That seems rather questionable advice when viewed through the lens of British politics. There is no way that the Prime Minister's deal will be anything like remaining in the single market and customs union. Despite the current UK government's suspicious reluctance to publish their own updated impact assessments of this allegedly amazing Brexit deal, the assessments from 2018 of a deal similar to what has been agreed point to falling wages and declining growth. I believe it is something like a 6-7 percent hit compared to staying in the EU. Wages will probably take a similar hit, and public sector borrowing is likely to increase. So unless the government are planning on performing a spectacular U-turn unlike any seen before in the chaotic mess that is British politics, soft Brexit is never going to happen.
  4. Sparrow

    Queens beasts

    I disagree. I don't see Biden's victory influencing the gold price that much, at least compared to Trump's. The Trump presidency was much more friendly to "riskier" assets such as gold than I forsee the new administration being, despite the likely liberalisation of trade policy under Biden. If anything the availability of a covid-19 vaccine will be a more significant influence, against the backdrop of low interest rates and further rounds of money-printing of course. (Which I would have expected to happen regardless of who won the election.)
  5. Sparrow

    New to Gold

    Also if you're new to gold this is worth knowing; tiny quantities like 1g are cheap, but they tend to not be a very good deal. At the time of writing the spot price for 1g of gold is about £48.50, so buying for £56 is a price increase of roughly 15.5%. If I pop over to Hatton Garden Metals' website, for example, they are listing their "best value" gold sovereigns at £370.97. If you discount the non-precious metal content of a sovereign and just focus on the 7.32g of gold in one of those coins, £370.97 ÷ 7.32 gives you a price of £50.68 per gram of pure gold, a mere ~5% increase on the spot price at the time of writing.
  6. I definitely prefer smaller coins. The largest one I own is a double sovereign, and while the weight of a larger coin in your hand is undoubtedly satisfying, I have no intention of buying anything bigger than that that for the forseeable future. Three reasons really, - firstly I like to have variety in my collection/stack and by acquiring more, smaller coins I achieve greater variety than if I saved up for a 1oz coin, secondly to my mind it's more satisfying to have a pile of ten small coins than a smaller pile of say, three big ones. And finally, from a practical standpoint, being UK based the gold sovereign is my preferred gold coin so that naturally lends to my focusing on the smaller coins than the big 1-oz coins.
  7. The French rooster is a beautiful coin, restrike or not. Got my hands on a 1901 rooster last year, no regrets.
  8. Yep. I think they bought something like 100 tonnes or more last year alone. As growth continues to slow and trade & geopolitical tensions increase, it's hardly surprising that a number of nations (such as China) will want to shield themselves from the risk of sanctions, trade wars, etc by converting their dollars into gold. (Even without a global pandemic.)
  9. The gold price is going to decrease by 40%? With substantial risks to global growth and growing geopolitical uncertainty thanks in no small part to covid-19? In this era of low interest rates that has driven central banks to buy record levels of gold in 2018, 2019, and to in all probability break that record again this year? Doubtful. And that's putting it mildly.
  10. Definitely. Long term the price pressure is still in favour of being on the upside. On the one hand if there's a second wave and countries have to shut down their economies again then that will make price rises more likely (not to mention the question of unemployment), and on the other hand if there is rapid economic recovery - with all the money that the central banks are pumping out how could that not be inflationary?
  11. A little bit here, a little bit there 👌
  12. I like your thinking, but...money. 😛
  13. A sharp dip in the gold price today, lost ~£40/oz at the time of writing. This will be due to either to the dollar strengthening on better than expected US jobs data, or because I bought gold yesterday. 😅
  14. Here is a graph depicting central bank purchases of gold over the last two years. Suffice to say, I am not convinced by Wonger's arguments.
  15. I have received one coin this week which I had ordered from abroad on the 24th of April but I am still waiting on a coin that I ordered from a UK based company on that same date. Lol. Like @Clockpuncher said, it is very much pot luck apparently.
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