what is bullion grade

[craig12]

just wondered what is classed as bullion grade , as ive received a sovereign from atkinsons which i believe has a scratch 5-10 mm long on one side  is this acceptable ? or should i return it

[HighlandTiger]

Bullion grade is simply the value of the metal the coin is made from. They can be scratched to feck and still be bullion grade, as long as the coin weighs what it should.

[Danny-boy]

just wondered what is classed as bullion grade , as ive received a sovereign from atkinsons which i believe has a scratch 5-10 mm long on one side  is this acceptable ? or should i return it

I'm surprised, sovereigns from Atkinsons are usually very good - I have bought around 25 from them.

Living close by helps, as they usually let me look over them first, but I have never turned down the initial offering.

[BaldyBob]

bullion is bullion....but  did the stock photo show the scratch? (presuming it was pre-owned?) If not, I would ask them for a swop.

[HelpingHands]

Who would pay for the £7 postage though to return it?

 

 

 

 

 

 

[watchesandwhisky]

IMO bullion grade means if you buy it you cant complain about condition.

[arshimo2012]

 

 

IMO bullion grade means if you buy it you cant complain about condition.

Totally Agree

[Murph]

As long as it's not underweight.

[BaldyBob]

I will continue to play Devils advocate.

Agree it is sold as bullion grade.

However, as an example,  Arshi's scratched sovs are well described as such. You always know what you are getting.

Rightly or wrongly, Craig thought he was getting a better product from Akko's. I suppose the questions are;

1) are Akko's interested in keeping a cutomer sweet?

2) does Craig think the money spent to return the old sov will be worth it for a replacement, which will doubtless have some minor imperfection.

[Danny-boy]

IMO bullion grade means if you buy it you cant complain about condition.

Completely agree.

Bullion means the bullion weight of the metal only.

[HawkHybrid]

one of the first things hgm asked me when

buying bullion from them was: is it to keep

or to melt?

depending on the sovereign's age/use different

levels of imperfections are seen as normal and

reasonable.

atkinsons have always offered me returns if

I'm not satisfied.(this may or may not be

economically realistic in practice)

 

 

HH

 

[sovereignsteve]

There are two types of people who buy "bullion" sovereigns: collectors who would obviously like a nice example, or investors who are buying for the weight of metal.

The latter obviously wouldn't care about the condition and I'm sure that Ats would generally sell most "bullion" coins to them.

They would almost certainly prefer to keep a satisfied customer and would accept a return, even though the chances are they haven't misrepresented the coin.

[sovereignsteve]

one of the first things hgm asked me when

buying bullion from them was: is it to keep

or to melt?

HH

 

Interesting. I wonder how many people actually buy gold coins to melt!

[metallica73]

HGM state their bullion grade is a coin ensured that it is not worn beyond normal wear and tear (their words)

I've received 1 sov and 2 half sovs totally blind from HGM and received 3 x 1901's

The sov had a little edge ding and probably an old cleaning, the first 1/2 sov had a fair bit of wear and the 2nd was quite nice. None of them were anything other than normal wear, I know your issue was with Atkinsons, but the debate is whether a 1cm scratch is normal wear and tear.

I wouldn't complain at anything I get from HGM as they don't sell bullion at extra premium for dates or condition like Atkinsons - the only issue I would have buying bullion grade from Atkinsons is that you are bound to get their worst coins as they list their best seperately.

 

 

[sovereignsteve]

HGM state their bullion grade is a coin ensured that it is not worn beyond normal wear and tear (their words)

That's their definition. In theory, if they are selling a sovereign as an entity, it should be within the defined legal limit of weight for a sovereign. I have had coins from them that have been slightly underweight and would certainly be classed by them as "normal wear". If they are selling a well worn and underweight coin as "bullion" it should strictly be sold at it's actual weight of gold.

I've received 1 sov and 2 half sovs totally blind from HGM and received 3 x 1901's

The sov had a little edge ding and probably an old cleaning, the first 1/2 sov had a fair bit of wear and the 2nd was quite nice. None of them were anything other than normal wear, I know your issue was with Atkinsons, but the debate is whether a 1cm scratch is normal wear and tear.

Only relevant for a HGM coin. Ats don't use the same definition; a coin that has a deep gouge is still OK if it sold purely as gold bullion, the appearance is irrelevant.

I wouldn't complain at anything I get from HGM as they don't sell bullion at extra premium for dates or condition like Atkinsons - the only issue I would have buying bullion grade from Atkinsons is that you are bound to get their worst coins as they list their best seperately.

HGM sell Vicky shields (full and halves) at a premium and still within their bullion definition.

 

 

[metallica73]

HGM sell Vicky shields (full and halves) at a premium and still within their bullion definition.

That's interesting to hear, do they have a seperate listing for Vicky shields on their site or is it a case of phoning and asking? I've never ever seen them do it.

 

[Stu]

 

That's interesting to hear, do they have a seperate listing for Vicky shields on their site or is it a case of phoning and asking? I've never ever seen them do it.

 

They will list them as they become available at a 15% premium I believe. Good luck chasing them though as they are snapped up literally in seconds. 

[sovereignsteve]

They will list them as they become available at a 15% premium I believe. Good luck chasing them though as they are snapped up literally in seconds. 

Usually by Kman but he seems to have disappeared!

[Pipers]

Bullion grade is weight, though you are buying a coin so it should be a minimum weight and condition. I have never bought a poor quality coin from Atkinsons.  My opinion on the matter is as follows:-

Would you be able to take the coin to any bullion dealer and get full bullion value for the sovereign?

If the answer is yes then its bullion grade.  

If the dealer wanted to offer you less because of its condition or weight then its it does not meet a sovereign bullion grade.