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My 1st Gold Coin - Help & Advice please


MESSIAH

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Hi all,

New to this brilliant forum.

I want to start my journey into collecting gold coins. 

I have seen one i really like the look of my aim is to collect 2x 1oz Gold bullion coins a year.

Obviously price is important.

 

The coin i am looking at currently is: 

https://www.coininvest.com/en/gold-coins/the-royal-arms/1-oz-the-royal-arms-gold-coin-2019/

 

Do you think this is a good choice,?

Am i starting too late?

Are there any other gold coins you can suggest which may be better priced or worth considering.

 

Any help and advice would be really appreciated.

many thanks,

Messiah.

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Hello and welcome to the wonderful world of stacking, collection and numismatics...while not a bad choice on the 1 oz Royal Arms, I would recommend the 1 oz Britannia’s. They look to be closer to spot and if starting out, it would be advisable to start by building out your base. But also consider buying what you like.

Purchase as close to spot...with the Britannia’s, they are pretty liquid. Somewhat analogous, I built a base of Krugerrands to start out with and haven’t regretted that decision.

Any considerations on looking at gold fractionals? Gold Sovereigns would be a choice with 1/4 oz Britannia’s as a close second in my opinion.

Look forward to additional thoughts and recommendations from other great members of TSF!

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thanks for your reply @CadmiumGreen i think i found a good price at coininvest.

https://www.coininvest.com/en/gold-coins/the-royal-arms/1-oz-the-royal-arms-gold-coin-2019/

are they a good place to buy from?

i think i will look to buy Britannia's and Sovereigns i just wanted my first purchase to be something a little special that i can treasure.

fractionals is cool with me too 1/4 works for me. I would love a QB Lion if it was going for a decent price.

what are good sovereigns to buy right now?

Yes i'm looking forward to additional thoughts and recommendations. 

Thanks very much for replying guys.

 

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@MESSIAH, I am in the US and don’t normally purchase bullion from UK dealers, but I think Coin Invest is reputable. @HelpingHands, does have a great reco with Atkinsons Bullion. @Frost does a great job highlighting dealers and any possible deals. There is also a dealer directory on TSF...https://thesilverforum.com/dealerdirectory/...part of the fun is doing the research and price comparisons. A great way to learn as well.

You can also look at The Silver Forum for sale and trade section which will always have done great deals for members. 

All sovereigns are great to buy!😁 

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Cheers guys.

Now the real question is whether to buy right now or wait and see if price falls. I'd hate to buy at near £1300 only to see price fall to £1100 mark it was last month. 

That £200 could buy me a Sov!

 

What would you do? Hmmm.

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Having followed a lot of @vand‘s analysis, not that I understand most of it☺️, we are probably at a new norm for a while.  We broke $1500 and have been sustaining those levels for over a week. But it is best not to time purchases on the micro shifts in the gold pricing. I am by no means a market expert...just do like I do and keep buying gold (but only if you can afford it)!

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53 minutes ago, MESSIAH said:

Cheers guys.

Now the real question is whether to buy right now or wait and see if price falls. I'd hate to buy at near £1300 only to see price fall to £1100 mark it was last month. 

That £200 could buy me a Sov!

 

What would you do? Hmmm.

If owning a piece is so important, buy a piece now or in a near term when prices correct. With that piece as your baseline price, you would probably anchor your baseline with the spot price fluctuating up and down. 

Owning nothing, you find yourself wanting a lower price to entry but may or may not get to that level. If spot goes higher in near term, and you look back thinking you should have gotten in today’s level because compared it is cheaper than the higher spot price. 

Good on you if spot manage to get to the level you wish for, everything seems to go according to you wishes, good wind is in your favor.

Many have gone before you on this journey and manage to find what they want after getting their hands dirty. Hope you find yours soon 🍀

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Shameless plug!

However given it would be your first purchase I totally understand wanting it to be a special purchase something to hold and treasure going forward as the start of your journey.

The Royal Arms is a beautiful coin in my opinion and is something I am looking to get my hands on too with the sale of my 2017 Britannia, you cant go wrong buying that as your first for sure.

 

There are also two other coins I really love and will be getting at some point too.

https://www.royalmintbullion.com/Products/Britannia/Gold/BB18CBGC

https://www.royalmintbullion.com/Products/Britannia/Gold/BB19CBGC

Both of those are on my wish list and I would say make a great first purchase.

 

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There are people here which remember times when other people said that paying 280 pounds per 1oz of gold is insane and will never buy it for this price and will wait for correction to buy in, probably they are still waiting for that correction to happened 😉

 

Set your thinking to gold as a base point, now pound is cheap (loosing purchase power) but will get stronger? will stay low? who knows.

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https://www.europeanmint.com/2019-1oz-uk-gold-royal-arms-coin/

2019 1 oz £100 GBP UK 9999 Gold Royal Arms Coin €1,408.70 from European Mint

Add Transferwise fee

image.png.7c1869ca150de3c6459b2e46d674f534.png

and then buy part of the group order the save on shipping cost

Buying 1 oz Gold coins from the European Mint send them an email saying spotted the coin cheaper elsewhere and their cheapest 1 oz Gold coin on their website is €1,401.20 could they price match and want to buy as part of BYB Group order. If they price matched with group order savings in postage this probably the cheapest way buy this coin from dealer located in the UK.

As for timing the market to buy Gold at the right time very hard to do.

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5 hours ago, CadmiumGreen said:

Having followed a lot of @vand‘s analysis, not that I understand most of it☺️, we are probably at a new norm for a while.  We broke $1500 and have been sustaining those levels for over a week. But it is best not to time purchases on the micro shifts in the gold pricing. I am by no means a market expert...just do like I do and keep buying gold (but only if you can afford it)!

I have no clairvoyance, and I do not claim to know with any confidence what will happen over the short term. I have ideas of what the price might do over the next weeks and months, but my guess is just as likely to be right or wrong as anyone else's.

I would not in the least bit be surprised if gold retraces back to $1300 over the next few months if current jitters subside, but equally I it would not surprise me if we saw $1700 if just a few things continue to escalate.

I have been around for long enough to know that markets can surprise both to the upside and downside. Your best bet is to ignore the short term volatility and look at the big picture.

 

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6 hours ago, CadmiumGreen said:

 ...just do like I do and keep buying gold (but only if you can afford it)!

Good advice.

Use disposable income only, not next month's mortgage payment on the promise of extra hours/overtime 😀

We all had to start somewhere. For me, it was 2015 around £750 an oz, maybe less, and I remember looking at the charts scolding myself for not buying gold 15 years previously. In hindsight, however, it was a good time to start, sure the gold price has risen and it has fallen but it has progressively increased by £500 an oz in 4 or 5 years. BUT It could quite easily have gone the other way.

I could have started at the peak in 2011 and watched my holdings fall by £400 an oz over the next 4 years. 😪

But! And this is the secret to gold,  if I'd bought at the peak in 2011 and held, I'd still be in the black today. 

Long winded post, I have too much free time 😃

I'll suggest that you forego the ouncer, for now, and get yourself a sovereign. Not a half sovereign, you may be disappointed, but a full 7.32g of loveliness. You can't go wrong, buy a random bullion coin, a birthdate coin, a marriage year coin, a special reverse coin...your choice, but make a sovereign your first gold coin purchase. You'll understand.

 

 

Technically, alcohol is a solution..

'It [socialism] poses a growing threat, however unintentional, to the freedom of this country, for there is no freedom where the State totally controls the economy. Personal freedom and economic freedom are indivisible. You can’t have one without the other. You can’t lose one without losing the other.'

"There is no such thing as public money, there is only taxpayers' money"

Let not England forget her precedence of teaching nations how to live.

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5 hours ago, Roy said:

Good advice.

Use disposable income only, not next month's mortgage payment on the promise of extra hours/overtime 😀

We all had to start somewhere. For me, it was 2015 around £750 an oz, maybe less, and I remember looking at the charts scolding myself for not buying gold 15 years previously. In hindsight, however, it was a good time to start, sure the gold price has risen and it has fallen but it has progressively increased by £500 an oz in 4 or 5 years. BUT It could quite easily have gone the other way.

I could have started at the peak in 2011 and watched my holdings fall by £400 an oz over the next 4 years. 😪

But! And this is the secret to gold,  if I'd bought at the peak in 2011 and held, I'd still be in the black today. 

Long winded post, I have too much free time 😃

I'll suggest that you forego the ouncer, for now, and get yourself a sovereign. Not a half sovereign, you may be disappointed, but a full 7.32g of loveliness. You can't go wrong, buy a random bullion coin, a birthdate coin, a marriage year coin, a special reverse coin...your choice, but make a sovereign your first gold coin purchase. You'll understand.

 

 

That sounds like excellent. Advice 👍

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On 17/08/2019 at 17:34, MESSIAH said:

What a fantastic response. Thanks very much everyone. 

Really appreciate all replys and advice given. 

I'll post a photo of the first coin I buy here. :)

 

 

I don't know if you already made your purchase but I wanted to give you my recommendations. I am a silver stacker but in January I decided to get some gold. So I had the same question as you which coin to buy. I went with the Britannia and the American Eagle. The Britannia because I just LOVE the silver Britannia's and the American Eagle because I love the silver eagles. The American Gold Eagle was a little bit disappointing for me once I got it. But the gold Britannia just blew my mind. Its in my opinion the best looking gold coin (buillon wise) out there. If I could go back in time I would rather have picked two Britannias than the Eagle. When investing such a amount of money its (for me) very important that I like what I buy. With Britannias you can never go wrong. 

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On 17/08/2019 at 01:23, MESSIAH said:

Hi all,

New to this brilliant forum.

I want to start my journey into collecting gold coins. 

I have seen one i really like the look of my aim is to collect 2x 1oz Gold bullion coins a year.

Obviously price is important.

 

The coin i am looking at currently is: 

https://www.coininvest.com/en/gold-coins/the-royal-arms/1-oz-the-royal-arms-gold-coin-2019/

 

Do you think this is a good choice,?

Am i starting too late?

Are there any other gold coins you can suggest which may be better priced or worth considering.

 

Any help and advice would be really appreciated.

many thanks,

Messiah.

Hi, 

If you are not in a hurry to buy Gold coins take your time do lot's of research.

When I started I rushed in a tad, I bought 4 1oz Gold Brits, not ling after I sold them and bought Sovereigns and in my opinion a far more interesting coin, much more flexible when liquidating.

Well, that's my Tuppence worth.😎 

All the best.

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You've had some excellent advice already here, OP.

The Royal Arms coin is a stunner in-hand, if that was your first thought then it will indeed be a special purchase.  You can't go far wrong with Britannias or Sovereigns either.  Yes, the gold price has gone up about 30% since early May and I am holding off purchasing for now, but once the next Queen's Beast coin range gets released I will probably re-evaluate and just set myself a target buying price for the next coins I'd like to add to my collection.

Enjoy the journey.  The best bit of course is when you actually get the coins in-hand, they're beautiful objects.

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On 17/08/2019 at 01:47, MESSIAH said:

thanks for your reply @CadmiumGreen i think i found a good price at coininvest.

https://www.coininvest.com/en/gold-coins/the-royal-arms/1-oz-the-royal-arms-gold-coin-2019/

are they a good place to buy from?

You can compare prices for most popular coins and some bars on https://goldcompare.net — that contains a list of reputable dealers as well.

Disclosure: I'm the person who made it.

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Guys, Good news i made my first purchase! Actually i should say purchases! 

I did say i wanted my first purchases to be something special.

  • 1x 2019 UK Britannia Oriental Border 1oz Gold Coin
  • 1x 2019 UK Coat of Arms 1oz Gold Coin
  • 3x 2019 UK Full Sovereign Gold Coins

Will now be collecting a 1oz each year hopefully and try to buy a Sov as and when i can.

Thanks for all the help and advice from everyone, time to make sensible special purchases going forward :)

Will post pics once arrived. 👊

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