Anyone sold large ish amount of gold?

[Cornishfarmer]

Some land coming up for sale near me:   Anyone sold a largeish amount of gold?  Some nice coins don’t really want so sell under spot anyone with experience with selling to the likes of chards, Atkinson’s or HGM and if they will pay over?  

[JunkBond]

@mr-dead sold his first stack to Atkinsons iirc.

[Xander]

8 minutes ago, Cornishfarmer said:

don’t really want so sell under spot

Is there some dealers pay over spot?

[Stacker2020]

5 minutes ago, Xander said:

Is there some dealers pay over spot?

If there are they won't be in business long!

[mr-dead]

sold about £50k worth to Atkinson's.  stress free as I was working a 10 minute walk away from their shop at the time.

made an appointment, strolled in then sat in a customer booth while they checked the gold with a scanner.  payment made by bank transfer and in my account the next day.

they don't pay above spot on bullion, not sure on collectibles

[NRSovereign]

Is there no questions as to how you acquired the gold in the first place once it’s in your bank ?

[Xander]

4 minutes ago, Stacker2020 said:

If there are they won't be in business lon

I thought they were discussing numismatic coins. 

[Stacker2020]

You're right. Reading closer there might be something more then just straight bullion. 

[Cornishfarmer]

2 minutes ago, Stacker2020 said:

You're right. Reading closer there might be something more then just straight bullion. 

Fair bit of bullion but some key pandas, all queens beasts, Somalia elephants back to 2012 etc

[Xander]

I would be tempted to sell the bullion, borrow the rest and keep my numismatic coins.

[Cornishfarmer]

1 minute ago, Xander said:

I would be tempted to sell the bullion, borrow the rest and keep my numismatic coins.

Worst thing is it’s an auction so won’t know until after if I have to sell or not

[Xander]

1 minute ago, Cornishfarmer said:

Worst thing is it’s an auction so won’t know until after if I have to sell or not

Oh, dear, your between a  rock and a hard place. I know the feeling.

[MancunianStacker]

Atkinsons can be trusted. Sent them lots in the past.

[5huggy]

I have sold over £6.5k to Chards and same type of transaction as mr dead  but not over spot BUT was over what I’d bought for so i went ahead

[sixgun]

Why not put gold up for sale here at spot? - see how it goes - if you get rid of some of it at a better price than you will offloading to a dealer wouldn't that be worth it? i guess if you don't get the land you would not want to sell the gold so really you want to offload quickly.

Depends how quickly the deal proceeded and how much the land is costing.

[Clens92]

I'm sure you'll have better luck parting it up and selling on here - if you want above 98% of spot.

[richatthecroft]

@Cornishfarmer, I would definitely recommend listing your coins here on the forum for sale in the first instance- its a great place to sell- and you’ll net more than from any dealer.  

The ones that don’t sell- ship them off. 

Any Libertads? Please don’t hesitate in giving me a shout. 

[sixgun]

The vultures are already circling....

[sovereignsteve]

4 hours ago, Cornishfarmer said:

Fair bit of bullion but some key pandas, all queens beasts, Somalia elephants back to 2012 etc

try chards, you will get a decent price for the bullion and may get a decent deal on the numis. check to see what they would be selling them for, it may give you some leverage.

I know someone who sold a large chunk to them 2 or 3 years ago and it went well.

[Melon]

9 hours ago, Stacker2020 said:

If there are they won't be in business long!

One assumes dealers have a defined margin in mind. I imagine so long as they can make that margin, paying over spot to acquire the coin should be feasible. It would make sense to do so. For bullion coins it would of course be a bad idea! 

[silvernewbie]

You will get spot here (or there abouts), i was in HGM yesterday and they pay 93% of spot for Gold, no premiums for anything just done on weight

[HelpingHands]

19 hours ago, Cornishfarmer said:

Worst thing is it’s an auction so won’t know until after if I have to sell or not

If it's an auction won't you only have to pay 10% on the day and then the balance in 28 days?

If so, Id just sell the easily replaceable bullion for the deposit then you can proceed on further sales if you are the winning bidder.

[Cornishfarmer]

2 hours ago, silvernewbie said:

You will get spot here (or there abouts), i was in HGM yesterday and they pay 93% of spot for Gold, no premiums for anything just done on weight

Wow they really have cut their price could get 99% a couple of years ago

[silvernewbie]

17 minutes ago, Cornishfarmer said:

Wow they really have cut their price could get 99% a couple of years ago

They are generally the most reputable and competitive in london so if they have cut their price im sure others have.  

[richatthecroft]

1 minute ago, Cornishfarmer said:

Wow they really have cut their price coins get 99% a couple of years ago

I have absolutely no evidence for this, what do I know- I'm only new to this game- but my guess is that the 93% buy in price is likely due to the current extreme volatility of the Gold price in the last week or two due to world events?  

Despite my guess- a 93% buy price is pretty lame and not going to attract much interest. 

You say a couple of years ago they offered 99%- a summary of Gold Price in 2017 shows modest changes:

 

And over the last year there's so much more volatility: