Gold buying strategy

[goldking]

Hi folks.  I'm wanting to build up an additional £10k of gold stash but being a tight Yorkshireman with Chubb locks on all pockets  it must be done as cheaply as possible.  I've already got me 3 sovs under spot from HB to get me started and 2 krugs (also under spot) should be arriving at the weekend, so I'm off to a good start.  My plan was to pay for the premium membership and pick up any gold for sale on the seller forum but I've since discovered a few flaws with this plan, namely : 1. premium membership is per month and not per year as I first thought which makes it quite expensive when : 2. looking at the historical sale ads, gold coin offers are not that common and when they do come up they sell quickly, so no guarantee of securing the sale(s) which is likely to lead to additional months of premium being required at more expense.  There is also : 3. P&P costs on each individual order, typically £7 for RMSD.  Unless I happen to get lucky and secure a multi-buy of several coins in one order, realistically I'd be looking at a minimum of 9 separate orders in a best case scenario (9x krugs at spot) which would be £63 in P&P.

If I assume "good" case scenario whereby spot stays the same at 1187.81 and I manage to pick up 9 krugs at spot from forum members all within 1 month (unlikely imo) then it would be 9x 1187.81 = 10690.29 + 9x 7 RMSD = 63 + 6 premium membership = 10759.29.

Or, I could look at HGM who will sell me 9 krugs for 1196.26 + 7 RMSD = 10773.34, a difference of £14.05.  Chards with delivery are virtually the same, give or take a quid.

My inner Yorkshireman is telling me to hold out for spot from forum members though  but I think getting £10k of gold coins (krugs, sovs, brits, whatever) within 1 month and in no more than 9 transactions is unrealistic, and that's before considering the headaches and stress of sending sizeable amounts of cash to usernames on a screen and crossing my fingers that there are no hiccups.  An extra month of premium and an additional transaction/parcel would put the total cost virtually on par with a single transaction from HGM/Chards.

Any thoughts/anything I'm missing or should I stop being a tight-arse and get on the blower to HGM and Chards in the morning? 

[ilovesilverireallydo]

£10k?

i can sort you out in a single transaction provided my supplier has the stock. He charges 2% over for purchases that size. 
alternatively get on the blower with Malcolm Ellis. He charges £10 over spot for Krugs per ounce. 
 

OR put up a “want” post in the buy sell explaining what you are after. You might be surprised 

[goldking]

12 minutes ago, ilovesilverireallydo said:

£10k?

i can sort you out in a single transaction provided my supplier has the stock. He charges 2% over for purchases that size. 
alternatively get on the blower with Malcolm Ellis. He charges £10 over spot for Krugs per ounce. 
 

OR put up a “want” post in the buy sell explaining what you are after. You might be surprised 

Thanks.  HGM only charge 2% over a spot for a single coin so 2% for a £10k order seems steep to me.  Chards are 0.9% over spot for an order of that size, just by way of a comparison.  I've not worked out HGM but given the price is near enough identical then it'll be the same.

Already tried Malcolm Ellis.  His prices are not competitive at all.  His Krugs are currently £1215 as of yesterday (+ £10 delivery on top) and spot has only dropped £3 in between times so there's no way he's going to do them for £1197.

[ilovesilverireallydo]

2 minutes ago, goldking said:

Thanks.  HGM only charge 2% over a spot for a single coin so 2% for a £10k order seems steep to me.  Chards are 0.9% over spot for an order of that size, just by way of a comparison.  I've not worked out HGM but given the price is near enough identical then it'll be the same.

Already tried Malcolm Ellis.  His prices are not competitive at all.  His Krugs are currently £1215 as of yesterday (+ £10 delivery on top) and spot has only dropped £3 in between times so there's no way he's going to do them for £1197.

Last I bought from him, he wasnt charging as much. 0.9% from chards isnt a terrible deal to be honest. However there may be forum members who may sell for spot eg @goluckystayhappy was selling Krugs for spot and I think @silverroller had some good deals as did @Pete

[goldking]

I stand corrected about the 0.9% premium from Chards - looking at their site that's for 500+ !  For 9 it will actually be 1.15%.

[goldking]

Just now, ilovesilverireallydo said:

Last I bought from him, he wasnt charging as much. 0.9% from chards isnt a terrible deal to be honest. However there may be forum members who may sell for spot eg @goluckystayhappy was selling Krugs for spot and I think @silverroller had some good deals as did @Pete

Yeah Malcolm has increased his prices quite a lot.  He apologised for his website prices being way out of date and said he could no longer do them at those prices.  Pretty much everyone on Darren's gold comparison site is cheaper than him for the 'regular' stuff like sovs, krugs, brits now, even before delivery price is added on!

I've already cleaned out @goluckystayhappy  .

[Pipers]

@goldking   Go away

Only joking

[Peacemaker]

sometimes you just have to accept you can get lucky paying under spot a few times, it doesn't change the market price, or we would all be paying under spot right? then the market value wouldn't mean anything, dealers don't buy for too much under spot themselves so they cant sell under spot, you would need to find your own contacts, I doubt you will get any gold here under spot, people need to make money

[Norskgeld]

Bye 'eck tha's a reet Tyke alreet.

Tha's bothered 'baht payin' fur't' premium membership at same time as tha's on abaht spending 10k on coins?!!!

Get tha hand in tha pocket lad!! 🤣

[Norskgeld]

Try Martin Roberts at AMR Coins.

https://www.amrcoins.com/about-us/

He's based just north of Leeds.

I've bought bullion gold from him at London Coin Fair.

You could probably pick them up personally and save postage!!!

[goldking]

2 minutes ago, Norskgeld said:

Bye 'eck tha's a reet Tyke alreet.

Tha's bothered 'baht payin' fur't' premium membership at same time as tha's on abaht spending 10k on coins?!!!

Get tha hand in tha pocket lad!! 🤣

  I would, but my man maths tells me that on the balance of probabilities it will probably end up costing me more to acquire it all through the forum members over (n) months (?) than it would to make a 5 minute phone call and bacs transfer to an established dealer.  I might get lucky and it turn out to be more cost effective but it's not guaranteed and could end up cost me quite a bit more.  On the other hand, spot may go down quite a bit over the next couple of months and it pay off.  Swings and roundabouts.  But every penny counts!    Recently sold my 3 year old car and bought a 13 year old shed for £500 so the money is sat there in my account currently doing sweet FA.   Gold seems like a good place to put it given how the world is looking these days.

[goldking]

5 minutes ago, Norskgeld said:

Try Martin Roberts at AMR Coins.

https://www.amrcoins.com/about-us/

He's based just north of Leeds.

I've bought bullion gold from him at London Coin Fair.

You could probably pick them up personally and save postage!!!

Thanks.  I'll give him a buzz in the morning.

[Norskgeld]

2 minutes ago, goldking said:

Thanks.  I'll give him a buzz in the morning.

Bet you reverse the charges!!! 🤣

[goldking]

1 minute ago, Norskgeld said:

Bet you reverse the charges!!! 🤣

I'll certainly be looking for him to pay my fuel costs to drive up there if I'm collecting, or him to throw in the postage costs if sending.  It's the only way.   Do you have a referral discount code I could use, too?  

[Becca]

On the other hand, spot may go down quite a bit over the next couple of months

 

So why the rush ??

If it drops back to what it was 3 weeks ago you will be selling your chubbs to make up the difference  

 

 

B

 

[Norskgeld]

3 minutes ago, goldking said:

I'll certainly be looking for him to pay my fuel costs to drive up there if I'm collecting, or him to throw in the postage costs if sending.  It's the only way.   Do you have a referral discount code I could use, too?  

Afraid not...never come across that in the PM world yet.

[goldking]

I wasn't actually being serious. 

[1817Karl]

Listen, you're giving us Yorkshire-men a bad name...

[Abyss]

Chards 1.1% over spot for 10 x 1 oz secondary market gold coins with the ability drive to Blackpool see them in person and grab some Blackpool rock on the way back is one of the best deals on bullion gold.

[goldking]

2 minutes ago, Abyss said:

Chards 1.1% over spot for 10 x 1 oz secondary market gold coins with the ability drive to Blackpool see them in person and grab some Blackpool rock on the way back is one of the best deals on bullion gold.

That's what I'm thinking, but probably cheaper just to get it delivered for 9 quid as it'd cost me more than that in fuel. 

[goldking]

1 hour ago, Becca said:

On the other hand, spot may go down quite a bit over the next couple of months

 

So why the rush ??

If it drops back to what it was 3 weeks ago you will be selling your chubbs to make up the difference  

 

 

B

 

I would be not at all surprised to see the spot price taking a dive actually, especially in light of the recent "stage 1" US : China trade deal.  But I personally see this as a short-term 'papering over the cracks' move and while it may force the price down for a few weeks/months, I think it will bounce back stronger and climb higher, thus negating any short-term losses.  I see the dollar becoming weaker and there's an election coming up - both of which usually see spot rise looking back at history.  US is 23 trillion in debt (by official figures, probably a lot more) and the Fed is printing 100 billion a month just to stay afloat.  Eventually it's all going to come crashing down.

Looking back at historical movements over the past 5 years, January has seen price drops in 4 out of 5 of those years with the exception of 2016 which saw a £180 (!) increase in price from January to March.  The reality is that none of us know what the price is going to do from one hour to the next!  We could spend hours studying historical charts trying to predict the price but it's really a pointless exercise when we're in uncharted waters with record debt levels and there's so much fudging going on behind the scenes in a desperate attempt to keep all the plates spinning at any cost.  Personally I see a lot of dark clouds and stormy seas looming ahead - sometimes you've just got to take a punt and go with your gut instinct and hope it pays off.   

[Abyss]

8 hours ago, goldking said:

That's what I'm thinking, but probably cheaper just to get it delivered for 9 quid as it'd cost me more than that in fuel. 

Buying secondary market Gold from dealer advisable to inspect the quality of the coins and what coins buying rather than leave it to random fate. You could end up with coins have major scratches and dents then may only get melt value when it is time to sell.

[Oldun]

Good luck ! The wild child.

https://www.macrotrends.net/1333/historical-gold-prices-100-year-chart

[Oldun]

 

Dupe

[Oldun]

This 50 year gbp one I get, as the Empire started crumbling big time...but got hockey stick saved by ongoing issues with.....stuff....no need to go over it again, is there? It is well documented.