bullion coins Bullion quality standards

[campbellgs]

20 minutes ago, PansPurse said:

Frankly, bullion means thatt you're trading it mostly for its precious metal value, with perhaps a mark-up of a few percent. Beyond that you're then into numismatic territory, in which case condition is absolutely an important factor. That's not to say a scratched numismatic coin can't command a premium, just that it's a much more complicated game then.

Thanks for the input. 

[Sovereign]

no need for hard feelings people  

@campbellgs was just asking also nothing wrong with making an offer on a coin 

we all like to get one as cheap as possible lol 

 

[richatthecroft]

14 minutes ago, Tn21 said:

Happy days sending you pm now

Coin Sold 

[campbellgs]

1 minute ago, Sovereign said:

no need for hard feelings people  

@campbellgs was just asking also nothing wrong with making an offer on a coin 

we all like to get one as cheap as possible lol 

 

Thanks, much appreciated.

I certainly have no hard feelings towards anyone here. We all have our opinions.

I wish @richatthecroft all the best with future dealings. 

Getting some decent feedback about acceptable standards which was my intention. 

Clearly I need to work on my negotiating skills and shouldn't offer spot for bullion coins. It's a learning curve.

[Tn21]

12 minutes ago, Sovereign said:

no need for hard feelings people  

@campbellgs was just asking also nothing wrong with making an offer on a coin 

we all like to get one as cheap as possible lol 

 

True, I have low balled offers all the time on eBay. On here though most of the time prices are fair and offer good value so the low ball offers I don't bother with or wouldn't dare 🤣,

 

6 minutes ago, campbellgs said:

Thanks, much appreciated.

I certainly have no hard feelings towards anyone here. We all have our opinions.

I wish @richatthecroft all the best with future dealings. 

Getting some decent feedback about acceptable standards which was my intention. 

Clearly I need to work on my negotiating skills and shouldn't offer spot for bullion coins. It's a learning curve.

Took it on the chin, well done 

[richatthecroft]

3 minutes ago, Sovereign said:

no need for hard feelings people  

@campbellgs was just asking also nothing wrong with making an offer on a coin 

we all like to get one as cheap as possible lol 

 

True, true & very true.

But he was offered, following a very soft negotiation, this coin for £308.40 before the Special Delivery Postage.

The initial asking price he referred to was superfluous- but it was referred to in his initial post. 

2 minutes ago, campbellgs said:

Thanks, much appreciated.

I certainly have no hard feelings towards anyone here. We all have our opinions.

I wish @richatthecroft all the best with future dealings. 

Getting some decent feedback about acceptable standards which was my intention. 

Clearly I need to work on my negotiating skills and shouldn't offer spot for bullion coins. It's a learning curve.

I don’t think you need to work on your negotiation skills at all- my son didn’t put up much resistance with the price he asked for it- just contextualise your post above.  It wouldn’t have taken a brain surgeon to work out that it was me you were referring to, as I responded publicly to your wanted post, that’s the only reason I responded here. 

You could set up an email alert on the Bullion by Post website for when it comes back in stock there- I think they sold quite a few of these and there is still visibility of the coin there, albeit out of stock. 

 

 

[Roy]

There's only one loser here and one winner, @Tn21

[Tn21]

6 minutes ago, Roy said:

There's only one loser here and one winner, @Tn21

Very excited about the coin. Just got to rebalance the bank account now. But glad to be able to have purchased this coin. 

 

We're are all winners here on TSF🤣

[Abyss]

 I bought my trading standard coins from @kneehow2018 and would consider them as acceptable bullion grade if I was to sell them in the future.

I received the below Gold coins in the past (not acceptable even as bullion) returned to the dealer for exchange. Paying 10% plus above spot either paying for its numismatic or the premium appreciation for that coin. Buying Gold with premium appreciation you still cannot demand perfect coins and light scratches are acceptable IMHO.

 

[goldmember44]

4 hours ago, campbellgs said:

The coin is quite scarce. 

What are your thoughts on condition though? Acceptable to have a scratch and pit marks on it?

I think that's not a good enough reason. Unless it's something like a very scarce George IV Bare Head or Vic Shieldback, modern bullion coins with scratches etc should not be expected to retain much of a premium, imo... 

EDIT: Having read the rest of the thread, I see what it was about. To be honest that gold standard coin doesn't look unacceptable to me as bullion, it's still a nice coin I'd say, good buy  There are scratches and then there are scratches.. a huge deep scratch is obviously much more damaging than fine scratches. 

[ilovesilverireallydo]

10 minutes ago, goldmember44 said:

I think that's not a good enough reason. Unless it's something like a very scarce George IV Bare Head or Vic Shieldback, modern bullion coins with scratches etc should not be expected to retain much of a premium, imo... 

For coins that are low numbers and on collectors want lists that thinking goes out of the door. Lions would sell £310 at today’s price in the same condition as the gold standard. 

Its down to demand rather than scarcity. 

[campbellgs]

50 minutes ago, goldmember44 said:

 

EDIT: Having read the rest of the thread, I see what it was about. To be honest that gold standard coin doesn't look unacceptable to me as bullion, it's still a nice coin I'd say, good buy  There are scratches and then there are scratches.. a huge deep scratch is obviously much more damaging than fine scratches. 

Cheers for the input mate

[campbellgs]

1 hour ago, richatthecroft said:

True, true & very true.

But he was offered, following a very soft negotiation, this coin for £308.40 before the Special Delivery Postage.

The initial asking price he referred to was superfluous- but it was referred to in his initial post. 

I don’t think you need to work on your negotiation skills at all- my son didn’t put up much resistance with the price he asked for it- just contextualise your post above.  It wouldn’t have taken a brain surgeon to work out that it was me you were referring to, as I responded publicly to your wanted post, that’s the only reason I responded here. 

You could set up an email alert on the Bullion by Post website for when it comes back in stock there- I think they sold quite a few of these and there is still visibility of the coin there, albeit out of stock. 

 

 

@richatthecroft The negotiating in my mind was over with the initial response to me enquiring about the marks, which I felt was quite snide. The offer of £315 was very fair, but I was out by that point. Definitely don't think I made it obvious that I was talking about yourself, I didn't even say it was on this forum. 

As I said, no hard feelings. All the best.

Thank you to everyone that put forward constructive feedback and educated me on acceptable standards.

 @Roy An offer was extended, you didn't reply or accept...no harm done. Tomorrow the sun will still rise, who knows what the tide will bring. We all move on to the next one. 👍🏻✌🏻🏴󠁧󠁢󠁳󠁣󠁴󠁿🇬🇧

 

[silenceissilver]

No question @richatthecroft s coin is acceptable as bullion. I don't know the market of this coin and what it sells for and how often it's available but @campbellgs I have to say, your offer for the lion is very daring unless you are very new to the PM market or unless it's the first offer in a Monty Python style negotiation strategy: "100" - "Are you n.ts - 200" "105". "195"....

When I see a coin in the forum that I'm interested in, and I have bought a few here recently, all Sovereigns, I usually google it to find out what it sells for elsewhere.

No reason to get upset about each other though, you learn by mistakes.

[campbellgs]

@silenceissilver thanks for the input.

Only got into this market last October, still learning. Nah never mad, I always try to be respectful and if I'm wrong I'll hold my hands up. I'm happy with my decision not to buy the coin. 

 

 

 

[Cornishfarmer]

Personally bullion coins should be a few % over spot, doesn’t really matter about condition as long as the weight is right. I’d call this coin semi numismatic higher % over spot and should be in near mint condition.        For the price paid for this coin I wouldn’t expect it in bullion condition.     

[campbellgs]

6 hours ago, Cornishfarmer said:

Personally bullion coins should be a few % over spot, doesn’t really matter about condition as long as the weight is right. I’d call this coin semi numismatic higher % over spot and should be in near mint condition.        For the price paid for this coin I wouldn’t expect it in bullion condition.     

Agreed.