Hatton Garden price increases

[TheGoldSovereign]

So, they've put up their prices on Half sovs and Half shields by 25%. Half shields now over 140 in "bullion condition"

SG86 waves to HGM

 

[oliversw5]

Watch this space, I am negotiations to be able to consistently supply sovs a spot plus 3 in bullion condition.

I can also probably do a small discount for quantity.

[mr-dead]

Has to be a bullish sign for gold as they obviously feel they can sell at an increased price.

[TheGoldSovereign]

1 hour ago, mr-dead said:

Has to be a bullish sign for gold as they obviously feel they can sell at an increased price.

Maybe they can, there is always a sucker.

Their reason is for them to be inline with their competitors, but they fail to realise that their competitors who are selling at these prices list specific dates and even have photos. When you start selling at "bullion" to customers at 25% over spot, I don't see that as reasonable when its a blind sale.

I bought the first at this price (didn't realise the price change before hitting buy button), I bet it's an 1892 like 95% of their half shields, and it'll be my last purchase from HGM. 

[sovereignsteve]

 

5 hours ago, sg86 said:

So, they've put up their prices on Half sovs and Half shields by 25%

but "normal" halves are only 6%

[austack]

Oh well, Atkinsons is my go-to now.

[Paul]

I have not purchased from them since they started chopping and changing things around.  very messy to look at now. 

I can get gold locally to me for 4-6% over spot in cash without delivery 

what i liked and why i liked it was flat rate small margin prices, and why i sang their praises here and elsewhere

clickerty click, job done paid, in and out in 2 mins. NOT NOW 

I doubt i will be back any time soon if they keep their pricing the way it is. i dont want to calculator every product to see to see which is best value  

 

[Pipers]

There are lots of coin dealers and bullion dealers in the UK.

 

[WealdenWoodsman]

I feel they have certainly shot themselves in the foot doing this.

Would be interesting to see if they revert to their old pricing structure in a few weeks/months as they start to see their sales drop. After all, people will just go elsewhere...

[Kman]

I wonder if they will sell the half shields at £140

If they do then they were right

If they don't then they can always lower it again; I guess they just have to hope they don't scare off customers in the meantime..

[Cornishfarmer]

im not sure if im looking in right place but full shields are now £281 which is £20 odd more than last week and now yound heads at £259 which is £10 more

i know they can charge what ever price they like and reduce if they loose business but i think that the time of HGM bargains are behind us.           i used to look multiple

times a day what they had in stock but now i just dont bother

[sovereignsteve]

They are continually thrashing around trying to extract more profit from a low margin business. Maybe the volume isn't there nowadays to keep the business profitable?

[oliversw5]

3 hours ago, sovereignsteve said:

They are continually thrashing around trying to extract more profit from a low margin business. Maybe the volume isn't there nowadays to keep the business profitable?

I was having a chat with another dealer about this, my gut says they are struggling. 

[Roy]

I don't think they are struggling, they are focussing more on the scrap/bullion side rather than coins. Their business is precious metals.

Selling coins is a pain in the ass really.

[oliversw5]

11 minutes ago, Roy said:

I don't think they are struggling, they are focussing more on the scrap/bullion side rather than coins. Their business is precious metals.

Selling coins is a pain in the ass really.

Im not so sure. 

They have the simplest of systems in place for selling, its so streamlined it shouldn't be a pain whatsoever. 

I think the problem is they get caught short on spot too often and it squeezes the cashflow. They have a relatively big team, minimum of 6 people that they have overheads for and they probably pay rent to boot on prime property. If the issue was a pain to sell coins they wouldnt have teamed up with Bairds (my opinion but the logical conclusion) in a buy and supply deal. I think the problem is liquidity and they are fighting for the margins in the lean times. 

Just my opinion, I could be way off the mark...but the issue is they are making themselves too pricey (their problem is my gain)

[sovereignsteve]

2 hours ago, Roy said:

I don't think they are struggling, they are focussing more on the scrap/bullion side rather than coins. Their business is precious metals.

Selling coins is a pain in the ass really.

I'm not so sure. The margin on scrap metal will be smaller than coins; sale of metal will always be less than spot. They give substantially less than spot for coins and sell for substantially more. Surely must be more profit in that? In good times, an quick, easy flow-through of coins must be like shelling peas.

[Jay2]

6 hours ago, oliversw5 said:

If the issue was a pain to sell coins they wouldnt have teamed up with Bairds

Is that why I suddenly see dozens of varied coins with seemingly infinite stock?

Before there were just a handful and you felt 'lucky' to get certain ones past checkout if you were browsing to add more for a while.

For some reason none of this new stock makes it into their Investor page, where you can see the list of +% ( http://www.hattongardenmetals.com/Investor/ scroll down)

[Jay2]

I have a few notifications set up for certain coins coming in. Is there any way to buy them as they come in, short of setting up a live bot or being fast and lucky?

I once tried to offer them the full current price for an out-of-stock gold ounce as a deposit up front, and then to top it up later regardless of how spot had risen between now and then, but they wouldn't accept. That kind of surprised me. 

[TheGoldSovereign]

On 09/03/2018 at 08:52, Kman said:

I wonder if they will sell the half shields at £140

If they do then they were right

If they don't then they can always lower it again; I guess they just have to hope they don't scare off customers in the meantime..

Yes I don't disagree that as a business decision it isn't smart, they will sell them. I just personally feel paying 150-160 on ebay is a better way to spend as you get to see what you're buying.

95% of their half shield stock are 1892, and these don't go for 140 resale very often.

[Elements]

On 09/03/2018 at 08:52, Kman said:

I wonder if they will sell the half shields at £140

If they do then they were right

If they don't then they can always lower it again; I guess they just have to hope they don't scare off customers in the meantime..

There was a half in yesterday and a full today. Both sold quick!!

Not sure I’d buy an unseen full at £280 

[Elements]

On 10/03/2018 at 16:55, sg86 said:

Yes I don't disagree that as a business decision it isn't smart, they will sell them. I just personally feel paying 150-160 on ebay is a better way to spend as you get to see what you're buying.

95% of their half shield stock are 1892, and these don't go for 140 resale very often.

This an ex Hatton you think?!

https://www.ebay.co.uk/itm/1892-Shield-back-jubilee-Victoria-Half-Sovereign/232694839320?hash=item362db17818:g:WUEAAOSwfQxapZBo

[Elements]

They (full shields) still seem to be flying off the shelf as soon as they become available at hattons. Currently £278

[Murph]

The half yesterday was a 1890 and there were two fulls today.  I went to the page when they came in but because this is really the bottom of the see what you're getting price range I just couldn't buy blind.  They disappeared within a minute or so anyway. 

I have to admit to buying a half from them at £140 delivered but only because I had credit with them from a previous order.  If they listed them as young heads I would probably be willing to take a chance on buying at those prices but not when the chances are it would be a jubilee.

[ilovesilverireallydo]

5 hours ago, Elements said:

They (full shields) still seem to be flying off the shelf as soon as they become available at hattons. Currently £278

Yet I struggle to sell them on the forum at £275 ?