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2017 red dragon 2oz queens beast coins


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6 minutes ago, Pete said:

This isn't a mistype is it ?
You have over 3 thousand ounces in a single beast ???
Is this correct ?
 

no it’s not a mistype haha, i put my inheritance into silver back in 2017 and they didn’t have enough britannia’s for my order so bullion by post sent these as part of it instead. 

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The fact that you own not far short of 1% of the entire mintage of this particular coin does mean you will have to spread out the sales to avoid overwhelming the market. That said, the fact that Bullion By Post sent you these instead of Britannias was a stroke of luck as these have far more resale value per oz than the plain vanilla Britannia.

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On 13/10/2020 at 15:59, rubatosis said:

no it’s not a mistype haha, i put my inheritance into silver back in 2017 and they didn’t have enough britannia’s for my order so bullion by post sent these as part of it instead. 

Simple question even though Silver cheaper back in 2017 why on earth would you buy such large amount of Silver from UK dealer and pay VAT on it? If you wanted to put this amount of money into metal would the wiser option not have been Gold and back in 2017 you could purchased monster box of 1 oz Gold Britannia’s from Chards/Atkinson for 3% over spot and easily sell back to these dealers the same monster box Gold for spot right now. Saved VAT and easier to take delivery, store, move and exit the position.....

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I recently sold earlier this year 600 oz QB 2 oz Silver coins and 600 oz QB 10 oz coins via eBay / Silver Forum / Facebook groups these were first six releases of the QB coins. I work relentlessly for several months replying back messages on multiple platforms, visiting the post office every day. I had first six coins in equal quantity made the sale easier but still awful lot work and that was only 1200 QB oz not 3,000 oz you have. Your best bet talk to Ampex Bullion in the USA and see what price and how many they would purchase from you after a single easier exit plan but never realise the premium appreciation coin gained if you sell to the dealer.....

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13 minutes ago, Abyss said:

Simple question even though Silver cheaper back in 2017 why on earth would you buy such large amount of Silver from UK dealer and pay VAT on it? If you wanted to put this amount of money into metal would the wiser option not have been Gold and back in 2017 you could purchased monster box of 1 oz Gold Britannia’s from Chards/Atkinson for 3% over spot and easily sell back to these dealers the same monster box Gold for spot right now. Saved VAT and easier to take delivery, store, move and exit the position.....

Silver has more potential to gain value maybe?

 

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1 minute ago, xmerchant said:

Silver has more potential to gain value maybe?

Not have to pay 20% VAT on it. Physical Silver purchased from dealers within Europe ship UK with little or no VAT then yes has potential gain more value.

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7 hours ago, xmerchant said:

Is there a way to buy such a large amount of silver vat free within the UK?

https://youtu.be/T06kcpweM28

Latest group order buy VAT silver is open. Yes buy hundred kilos of Silver vat free from Europe and import into UK without VAT but after Brexit maybe different scenario.

@rubatosis back original question why did buy 3000 oz Silver from UK dealer bullion by post and have it shipped (VAT added). There are bullion dealer even in the UK you can buy silver VAT free by not taking delivery and the dealer store in their secure storage vault. When want sell Silver done directly with the dealer simple exit plan.

https://www.chards.co.uk/info/storage

 

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Just to agree with @Abyss here - no-one here would have advised you to buy silver in the way that you did @rubatosis. It's too late to change it now but if you got that advice from a financial professional you need to look elsewhere in future. If it was just a personal decision based on reading too many excited articles from people saying that silver was going to go up 10x in value any day now... the lesson is to seek advice from other people before throwing your money into something.

Silver has plenty of fans here, including some who think it will go up massively, but even if that were true there are still good and bad ways to invest in it. If you read an article telling you that pork belly futures are going through the roof and now is the time to invest that doesn't mean it's a good idea to rush out to the supermarket and buy 1,620 packets of pork scratchings.

Edited by FoolzGold
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15 hours ago, FoolzGold said:

Just to agree with @Abyss here - no-one here would have advised you to buy silver in the way that you did @rubatosis. It's too late to change it now but if you got that advice from a financial professional you need to look elsewhere in future. If it was just a personal decision based on reading too many excited articles from people saying that silver was going to go up 10x in value any day now... the lesson is to seek advice from other people before throwing your money into something.

Silver has plenty of fans here, including some who think it will go up massively, but even if that were true there are still good and bad ways to invest in it. If you read an article telling you that pork belly futures are going through the roof and now is the time to invest that doesn't mean it's a good idea to rush out to the supermarket and buy 1,620 packets of pork scratchings.

hi, i was uneducated on the whole vat issue when i brought these and wasn’t planning on selling so soon lol. big mistake i know but i’ve brought from the european mint since.

 

On 14/10/2020 at 23:13, Abyss said:

I recently sold earlier this year 600 oz QB 2 oz Silver coins and 600 oz QB 10 oz coins via eBay / Silver Forum / Facebook groups these were first six releases of the QB coins. I work relentlessly for several months replying back messages on multiple platforms, visiting the post office every day. I had first six coins in equal quantity made the sale easier but still awful lot work and that was only 1200 QB oz not 3,000 oz you have. Your best bet talk to Ampex Bullion in the USA and see what price and how many they would purchase from you after a single easier exit plan but never realise the premium appreciation coin gained if you sell to the dealer.....

i’ll definitely check that out thank you, i honestly only came here to check everything out hence i haven’t put the whole lot up for sale here but i guess people aren’t too happy to just give kind advice like you :)

 

On 14/10/2020 at 15:13, FoolzGold said:

The fact that you own not far short of 1% of the entire mintage of this particular coin does mean you will have to spread out the sales to avoid overwhelming the market. That said, the fact that Bullion By Post sent you these instead of Britannias was a stroke of luck as these have far more resale value per oz than the plain vanilla Britannia.

yes i definitely will do so, i didn’t know i had that much of the mintage haha that’s crazy! 

it definitely was very lucky, i’d be in a much worse off if that hadn’t happened

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33 minutes ago, rubatosis said:

yes i definitely will do so, i didn’t know i had that much of the mintage haha that’s crazy! 

it definitely was very lucky, i’d be in a much worse off if that hadn’t happened

So how are you going to offload these without crashing the premium?

will take an age to drip so many coins out on to the market even if you use a number of sales channels.

 

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It may be worth talking to a dealer as they might be the only ones who could handle such a volume. Knowing that the dealers currently charge a fat premium for this particular coin you should be in a position to negotiate at least some fraction of that for yourself. You certainly shouldn't be selling at spot when they can turn around and resell at spot+90%.

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You’re not in a bad position - silver must be up a fair bit on where you bought!

I think @FoolzGold is spot on and you should have a chat with a couple of dealers about starting to move some of these on in a fairly chunky trade.

The series is drawing to a close and there is still a premium on some of the coins so you probably want to be thinking about selling at least some of these whilst there is still a bit of hype and extra saleability.

Maybe drip some out in the forum and on eBay as well but you definitely want to be making a start!

 

 

 

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On 16/10/2020 at 17:56, Clockpuncher said:

You’re not in a bad position - silver must be up a fair bit on where you bought!

I think @FoolzGold is spot on and you should have a chat with a couple of dealers about starting to move some of these on in a fairly chunky trade.

The series is drawing to a close and there is still a premium on some of the coins so you probably want to be thinking about selling at least some of these whilst there is still a bit of hype and extra saleability.

Maybe drip some out in the forum and on eBay as well but you definitely want to be making a start!

 

 

 

I'd avoid eBay, they charge you like 13% fees 10% eBay 3% PayPal, I've sold items on eBay there before.

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3 hours ago, Clockpuncher said:

Just sell when you have the £1 max final value fee offer - it runs every 2-4 weeks usually. Otherwise EBay is expensive!

True but that only applies if you can sell the item in a certain time oeriod, I'm not sure how long that period lasts but it might work for high demand items

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