My 1st Gold Coin - Help & Advice please

[silenceissilver]

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

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.

Now that you have your first gold coins, I would go for buying Sovereigns (or potentially other smaller coins) instead of 2 x 1 one ounce per year. With your suggestion you need to save up 6 months for one coin. This way you can't price-average very well and you need more discipline not to spend it or a part of it before the end of the 6 months.

2 oz is ca 8.5 Sovereigns, so if in your case I would buy one full and one half Sovereign, alternately, each month. That's 6 full and half Sovereigns each, thus 9 full Sovereigns if you wish which is close to the 2 full ounces. And the premiums are only slightly higher. If it is true that we are at the beginning of a long term bull market, it will be cheaper nonetheless as you will buy at lower spot prices, in average. If we aren't, at least you price-average much better, as said.

[MESSIAH]

Thanks for this advice @silenceissilver i really appreciate this and i agree better to do something monthly. Cheers.

[MrStacker]

Awesome selection @MESSIAH congrats! Great choice to kick start your stacking! I'm hoping to grab myself a 2019 gold Britannia before the end of the year. It just looks so gorgeous in shiny yellow! 😃

[StackemHigh]

1/10th brits are a popular choice too.

 

[WAG333]

On 20/08/2019 at 14:42, silenceissilver said:

Now that you have your first gold coins, I would go for buying Sovereigns (or potentially other smaller coins) instead of 2 x 1 one ounce per year. With your suggestion you need to save up 6 months for one coin. This way you can't price-average very well and you need more discipline not to spend it or a part of it before the end of the 6 months.

2 oz is ca 8.5 Sovereigns, so if in your case I would buy one full and one half Sovereign, alternately, each month. That's 6 full and half Sovereigns each, thus 9 full Sovereigns if you wish which is close to the 2 full ounces. And the premiums are only slightly higher. If it is true that we are at the beginning of a long term bull market, it will be cheaper nonetheless as you will buy at lower spot prices, in average. If we aren't, at least you price-average much better, as said.

That's excellent advice, many thanks..

A few months ago , I bought my first coins, (the big) 2013 and smaller 2015 1oz Britannias, and got my three 224GBP Sovereigns off H&B.  More Sovereigns next I feel, ..but is it always best to just get "minted" coins rather than nice but used ones?  

Cheers..

 

[silenceissilver]

6 hours ago, WAG333 said:

That's excellent advice, many thanks..

A few months ago , I bought my first coins, (the big) 2013 and smaller 2015 1oz Britannias, and got my three 224GBP Sovereigns off H&B.  More Sovereigns next I feel, ..but is it always best to just get "minted" coins rather than nice but used ones?  

Cheers..

Personally I prefer to get a variety of bullion sovereigns, not sure if there is a better way.