Queens Beast 1oz Gold Bullion Lion Overtakes the 1oz Gold Proof

[Midasfrog]

Today the queens beast 1oz gold bullion lion was for sale on the Royal mint Bullion site for £1,830.47 it overtook the release price for the 1oz gold proof by £35.47 the release price for the proof lion was £1795 when it came out.😨

[Zhorro]

9 minutes ago, Midasfrog said:

Today the queens beast 1oz gold bullion lion was for sale on the Royal mint Bullion site for £1,830.47 it overtook the release price for the 1oz gold proof by £35.47 the release price for the proof lion was £1795 when it came out.😨

I think this must be a secondary market price.  The gold bullion 1oz Yale and Falcon are £1,281 which is more reasonable given that the price of gold is currently £1,205.

[Midasfrog]

1 hour ago, Zhorro said:

I think this must be a secondary market price.  The gold bullion 1oz Yale and Falcon are £1,281 which is more reasonable given that the price of gold is currently £1,205.

The price was taken from the Royal Mint Bullion site just now , The queens beasts premiums increase depending how early in the series it was . They are still striking the 2016 1oz Lion Bullions and all the latter bullion gold coins in the series.

[Zhorro]

3 minutes ago, Midasfrog said:

The price was taken from the Royal Mint Bullion site just now , The queens beasts premiums increase depending how early in the series it was . They are still striking the 2016 1oz Lion Bullions and all the latter bullion gold coins in the series.

Yes, I was meaning that the price the Royal Mint are charging must be based on prices in the secondary market.

It is interesting that the Royal Mint justifies not publishing bullion sales figures on the basis that collectors may confuse the value of bullion coins with that of numismatic coins, and yet they appear to be using numismatic values for their bullion coins!

If they are still striking the 2016 Lion bullion coin, then this really brings into question the price they are charging for it.

[Midasfrog]

I remember reading something about a 3 year limit to striking the same dated coin . The 2016 Lion must be getting to that 3 year limit fairly soon so maybe they will stop striking it. I suppose there are still collectors buying at that high price . 

Yes the Royal Mint must look at the secondary market prices and help drive it even higher , selling to dealers at inflated premiums .

[KDave]

The coins have a 12 month production limit. That means when the next lion is release in September, production of the falcon will cease, when the next coin is released in March 2020 (horse probably, or greyhound), the production of the Yale will cease.

I had an email last year from the mint called 'the series so far' when the bull was released. The first three coins, Lion, Griffin and Dragon all had 'These coins have ceased production and are in limited supply'.

[Lr103]

1 hour ago, Zhorro said:

Yes, I was meaning that the price the Royal Mint are charging must be based on prices in the secondary market.

It is interesting that the Royal Mint justifies not publishing bullion sales figures on the basis that collectors may confuse the value of bullion coins with that of numismatic coins, and yet they appear to be using numismatic values for their bullion coins!

If they are still striking the 2016 Lion bullion coin, then this really brings into question the price they are charging for it.

Royal Mint bullion does offer a buyback service, and also a vaulting service, so that's probably why they have some older bullion for sale.

 

3 hours ago, Midasfrog said:

Today the queens beast 1oz gold bullion lion was for sale on the Royal mint Bullion site for £1,830.47 it overtook the release price for the 1oz gold proof by £35.47 the release price for the proof lion was £1795 when it came out.😨

Same over here, and on the sell side...I requested some prices recently from a dealer and they offered several hundred dollars less for a proof lion than for a bullion lion!  

[TopCat]

I own a Queens Beast Lion coin and yesterday requested a quote for Royal Mint to buy it back.

They offered a quote of 96% of the current 1oz gold price ... £1,153.87.

When I enquired regards the coin premium they informed ''We only buy back based on the metal content and this coin contains 1 ounce of gold.''

I'm left with a very expensive coin that apparently I've overpaid for by several hundred pounds 😕

Anyone know any reputable buyers?

[Midasfrog]

1 hour ago, TopCat said:

I own a Queens Beast Lion coin and yesterday requested a quote for Royal Mint to buy it back.

They offered a quote of 96% of the current 1oz gold price ... £1,153.87.

When I enquired regards the coin premium they informed ''We only buy back based on the metal content and this coin contains 1 ounce of gold.''

I'm left with a very expensive coin that apparently I've overpaid for by several hundred pounds 😕

Anyone know any reputable buyers?

most dealers will only give you below spot any that give over spot are no longer in business 🧐 How long ago did you pick the lion up ? selling on ebay might be your best option 

[richatthecroft]

Atkinsons are paying over Spot- you would still be foolish to sell one to them at this price. 

 

 

[richatthecroft]

2 hours ago, TopCat said:

Anyone know any reputable buyers?

Why not list it for sale here on the Forum? 

[Goldmick]

I sold mine this week for £1350 on here

[KDave]

I wonder if Atkinsons would offer a better price if you phoned them? Chards as well are probably interested if the condition is excellent. 

[Zhorro]

2 hours ago, TopCat said:

I own a Queens Beast Lion coin and yesterday requested a quote for Royal Mint to buy it back.

They offered a quote of 96% of the current 1oz gold price ... £1,153.87.

When I enquired regards the coin premium they informed ''We only buy back based on the metal content and this coin contains 1 ounce of gold.''

I'm left with a very expensive coin that apparently I've overpaid for by several hundred pounds 😕

Anyone know any reputable buyers?

Yet the Royal Mint are selling the coin for £1,850!  So, why are they charging such a premium (nearly £700!)?

https://www.royalmintbullion.com/Products/Queens-Beasts/Gold/QB16L1CP

[KDave]

They are chancing their arm that they will sell a few at that price and it must be working. Remember though that its 1 oz of gold, its a bullion coin, nothing special about it, its no different from a 1 oz Britannia in any way but the design stamped on only one side. £700 for a different design on your bullion is a bit much. 

[firestacker]

I'm still new to this so forgive me if I'm wrong but it seems to me that it's far better to try and sell directly to another investor rather than trying to sell to a middleman dealer that needs to make their cut and will try and take the mick by offering you below spot.

I would sell on this forum and/or ebay. So many great items get snapped up on here sometimes within a few minutes.

[Midasfrog]

1oz bullion lion now £1901.95 on the RM bullion site 🧐

[RoughDog]

10 minutes ago, Midasfrog said:

1oz bullion lion now £1901.95 on the RM bullion site 🧐

What sane person would pay that premium for a coin that they would probably put in storage.

[Abyss]

On 06/08/2019 at 19:38, TopCat said:

I own a Queens Beast Lion coin and yesterday requested a quote for Royal Mint to buy it back.

They offered a quote of 96% of the current 1oz gold price ... £1,153.87.

When I enquired regards the coin premium they informed ''We only buy back based on the metal content and this coin contains 1 ounce of gold.''

I'm left with a very expensive coin that apparently I've overpaid for by several hundred pounds 😕

Anyone know any reputable buyers?

Offered it on the forums because @TopCat don’t have seller feedback may have to go through intermediary service offered by @BackyardBullion.

Inquire with US / European and few UK dealers buy back prices and put sale add on forum / eBay higher price than highest buyback price. 

Gold has worldwide market and when selling don’t restrict yourself local dealers / local country want achieve best price.

[Cornishfarmer]

Anyone remember the name of the bloke on here that bought some queens beasts and other bullion coins........ then sold to dealer and complained that the price hadn’t gone up enough and that buying going wasn’t worth it....... bet he is as sick as a parrot now 😂😂😂😂😂

[RoughDog]

I seem to remember a thread about some panic selling because he thought the price was going to crash.  Is that the one?