Leaving the EU - SOTD Sovereign

[xthomasx]

25 minutes ago, Kman said:

We on the forum are the typical buyers of sotd sovereigns and none of us seem to have opted for it for £800

Me too. It was the first time I choose not to buy a Sovereign since I started collecting. I missed a few due to my famously long decision-making, but this time it was deliberately.

[Kman]

One seems to have sold for £1250 so what do I know 😛 

https://www.ebay.co.uk/itm/2020-Brexit-Strike-On-The-Day-Gold-Proof-Sovereign-Pre-Order-SOLD-OUT-Limited-/274240513958?hash=item3fda0227a6%3Ag%3AjfwAAOSwQGteM4Fi&nma=true&si=pD2WNYs0wnvyUph7mDaC8h1e8Fs%3D&orig_cvip=true&nordt=true&rt=nc&_trksid=p2047675.l2557

[terakris]

I'm a little surprised they sold out in the early hours tbh... but that could be for 2 reasons. 1)  the buyers are collectors and want the coin... thats a good thing or 2) the buyers are flippers and want to try and make a quick profit on it. Now, im not going to say thats a bad thing, i've bought extras of coins before and flipped, some for profit and others not. What i would be worried about on this one is £800 is a lot to take a risk on for a sovereign. Even the £500 SOTD ones can sometimes be a close flip (Albert for instance compared to Vic).

This could turn out to be another Una and sky rocket... but i highly doubt that. I suspect there will be a few on eBay once they are in hands, undercutting each other until they are near the £800 mark. then i guess people will sit and wait hoping it will stay above £800 to at least break even.

If you bought for a collection and you got one, well done, its sold out and it saves disappointment, if you bought just to flip... well, you have bigger balls than me!

[Oldun]

This isn’t coin collecting. This is just opportunistic greed in full flow until the usual clowns have flipped themselves out of the market and prices settle into the mid, longterm range.....

[terakris]

1 minute ago, Oldun said:

This isn’t coin collecting. This is just greed.

On who's part? The Mint, The Flippers... or Both?

[Oldun]

Both but particularly flippers.  And I know about let the market decide etc etc, supply and demand, capitalism etc....just amazing there are a bunch out there collectively blowing over a million quid in a few hours on a very ordinary yet clearly NOT overpriced sovereign for primary buyers ! Hope they don’t regret it in the secondary market, although I wouldn’t mind if the flippers got their arses handed to them to put some of them off

 

[Sovereign]

Morning rush hour 

 

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Added 0 minutes later...

They should say gold 50p and sov sold out 

[Oldun]

They want new customer emails etc so no way they would be thoughtful like that.

[Kman]

Hypothetical scenario: the Brexit SOTD sov doesn't resell well in the coming weeks and they're being offloaded at a loss, what's the highest price you guys would pay for one?

[Sovereign]

you got me thinking and checking my bank account lol

too early for this @Kman 😝

[Oldun]

Genuinely not interested in this one....maybe £350-80 I might think about it......£400 if it was my birthday

The matte sovereign is clearly the RMs new workhorse ‘stick anything on it’ coin. Mindblowing to think this very  ordinary coin design is valued (at issue price) £300 higher  than the 2017 strike on the day sovereign, mintage 1817. In fact, you could have picked up a 2017 perfect 70 graded one this week for about the same price right here on The SF ! 

https://www.chards.co.uk/blog/2017-200-anniversary-strike-on-the-day-sovereign/112

[Shep]

Choo Choo the hype train strikes again.

This entire situation with the SOTD Sov is going to reaffirm to the Royal Mint that they can effectively pluck out of thin air any price point they want, regardless of the premuim over the gold content.

Sad and expensive times lie ahead for Sovereign collectors.

[Oldun]

Someone should make a chart showing sovereign premium %  over the last few decades....I bet it looks a bit vertical.

[kimchi]

Staggered again

6 hours ago, Kman said:

The line has to be drawn somewhere and I thought it would be £800/1500 mintage but apparently not

I thought at, say, 1000 the line would have been crossed at £600, obviously not

[TopHatsTales]

As it instantly sold out, it could be argued that the price should have been much higher.

It's real worth, hmmm, about £400

Seen the one on Ebay for just over £3k. Crazy. 

The thing with flipping it on Ebay....buyer lodges complaint, in standard Ebay buyer scam fashion, gets free sov, seller losses £800 

I'd want cash on collection only. It's just asking for trouble. 

[fehk2001]

Chards is selling the sovereign fir 780

[Silvergun]

Also saved £800 ,  not interested in this one  .

[goldmember44]

The SOTD is now available through Chards for £780:

https://www.chards.co.uk/brexit-sovereign-withdrawal-from-the-eu-bu/12164?

Not sure what their allocation size is, though.

[terakris]

Its worth what someone is willing to pay, i think thats where it all ends. any sov is the same, the 1989 is a high mintage but demands a premium... why, cos the design. same thing. compared to that this has a much lower mintage and is cheaper so could be seen as a bargain. Im not saying it is, but what makes one sovereign worth more than another, demand one would assume... same as the Una, started off at £4k now what, £25k i think they have sold for... exactly the same situation with this. I personally think most will be from flippers looking to make fast money and if they do well done to them. I wouldnt buy this as a flipper as i dont think im happy with the risk. 

[richatthecroft]

Gold 50p at Coinconnection:

 

 

[westminstrel]

Available on Chards at a “discount price” for slightly cheapskate suckers at £780 😁

[Oldun]

The Royal Mint must have great intel on who are first time buyers and what they are prepared to pay from all these recent issues.

[goldmember44]

Notably, Chards doesn't stock the gold 50p..

[danmc82]

10 minutes ago, richatthecroft said:

Gold 50p at Coinconnection:

 

 

Really winds me up. You'd think there was some law to stop companys doing this.

Physical shops arn't allowed to increase their prices during opening hours, so why can these get away with it?

[terakris]

3 minutes ago, danmc82 said:

Really winds me up. You'd think there was some law to stop companys doing this.

Physical shops arn't allowed to increase their prices during opening hours, so why can these get away with it?

the con connection do this all the time, kinda accepted to get in early if you think its going to spiral out of control