Queens Beasts - ADVICE PLS

[Jagp]

I have various queens beasts bought over the last few years in storage at a uk bullion dealer. The sale price quoted with my stored items is well below market rate for those coins. Would I be better off taking delivery of the coins and selling privately? Excuse my ignorance. 

Regards

JAGP

[Clockpuncher]

What are they offering you as a sale-back price for them?

What sort of volume are you hoping to shift?

Given gold, presumably no VAT to take delivery so there will just be a minor delivery cost to factor in?

The forum can help guess an achievable price (volume will be a big factor) and then its really just a matter of working out if Achievable private sales price - delivery cost - ancillary costs, time & hassle of private sales > price offered by the dealers

It's not possible to say much more without more detail from you 👍

[Tn21]

☝️

[Silverman2U]

Yer, though if silver they will charge you VAT on receiving goods. As I recently discovered! 😕

[Jagp]

1 QB falcon

1 QB griffin 

20 QB White lion

5 QB Lion

 

I’m not looking to sell, just wondering if it’s worth paying for storage when the day I choose to sell them I may be better off selling privately and will have to take delivery anyway.

They all show online at Baird as having a sell price of £1,436 whereas looking at how much the Lions, for example, seem to cost, I’m guessing I’d get more elsewhere.

[Abyss]

Forgot if these coins are 1 oz Gold Queens Beast coins that have premium appreciation beyond metal content. If you had standard 1 oz Gold Britannia with Baird it would still be worth it take delivery avoid storage costs and sell them privately and you can achieve spot on the forum or wanted sell them to Chards/Atkinson achieve just below spot both work out better than Baird buy back rate.

[Clockpuncher]

You would definitely get more selling privately - you are being offered just melt value there for some quite premium bullion (lion and griffin in particular).

is storage expensive?

do you really want 27 ounces of gold sat at home with all the other risks that brings?

maybe check out the price of a safety deposit box and weigh that up against what Bairds are charging and go from there?

One factor which might be worth considering is that if VAT was imposed on gold after 31 Dec, would you be liable if you took delivery of your coins? I genuinely don’t know the answer to this but if I was in your shoes, it might swing it in favour of whacking them in a safe deposit box rather than in Bairds allocated storage?

[Stuntman]

I would certainly take delivery of the 5 Lions and the Griffin if I was looking to maximise the sale price.  At worst (and certainly the least hassle) you could sell them to another bullion dealer, some of them currently pay over spot for those.

[Silverman2U]

On 18/10/2020 at 19:13, Clockpuncher said:

You would definitely get more selling privately - you are being offered just melt value there for some quite premium bullion (lion and griffin in particular).

is storage expensive?

do you really want 27 ounces of gold sat at home with all the other risks that brings?

maybe check out the price of a safety deposit box and weigh that up against what Bairds are charging and go from there?

One factor which might be worth considering is that if VAT was imposed on gold after 31 Dec, would you be liable if you took delivery of your coins? I genuinely don’t know the answer to this but if I was in your shoes, it might swing it in favour of whacking them in a safe deposit box rather than in Bairds allocated storage?

I had a friend advise me on a safety deposit box in Mayfair. £5m value, he’s charged £250 a year. The beauty of Bairds is their buy back. It’s fast and easy. I like a challenge, but if your in a rush you can dump it all quick at price x. You can’t on TSF. You have to factor supply and demand. 

[gkoogk]

i think that safety deposit boxes are not insured either..you have to get a valuation and private insurance

[Coolsmp]

Think Hatton Garden Heist 

[GoodAsGold]

On 19/10/2020 at 23:35, gkoogk said:

i think that safety deposit boxes are not insured either..you have to get a valuation and private insurance

Mine is. I got free insurance for holdings upto £10K for the first year of rental and now pay for the insurance offered by the company which is optional of course. 

[GoodAsGold]

On 21/10/2020 at 07:26, Coolsmp said:

Think Hatton Garden Heist 

... and choose somewhere else which is open every day and has CCTV which is being monitored elsewhere.

Admittedly nowhere is 100% secure in my opinion.

[Jagp]

Haven’t been on for a while. Thanks for advice chaps!