Is it possible to buy at spot?

[silvernewbie]

Just wondering if anyone managed to buy Gold at spot price, i dont see many priced as such on here, but ideally looking for below bullion Condition Sovs for spot price for long term investment? 

i was thinking dealers maybe but unsure where to find them or if they would bother selling to small buyers like me? 
 

thanks

[Shep]

Quite a few people on here bought the Central Bank of Ireland 1/4oz 2016 Irish proclamation of independence coins last year for around spot or just under. That was only because the coins had gone under the radar and sat at issue price for 4 years.

It does happen but its usually due to pricing errors more than anything else from what I’ve seen. Or sometimes a few pieces on here are sold at spot by individuals. Even dealers that sell below bullion standard sovereigns still charge a small % over spot.

In short all you can do is keep your eyes peeled, but as an individual i wouldn’t get your hopes up for finding a regular and reliable source of at spot gold.

[BackyardBullion]

I have purchased spot price gold, indeed below spot price gold on the forum a number of times, the most recent early in January 2021

The items that are listed at these prices do not stick around.

[AndrewSL76]

People who were asking this very same question last year and the year before and the year before. You’re investing in something for the future and whilst you want something as close to spot as possible, in my mind you have two choices. 1. Hold out for the £320 sovereign that won’t appear and that £320 will be £320.10 in a year’s time in your bank; or 2. Buy the £335 sovereign now and see what it is worth in a year’s time.

[Paul]

Ive sold at gold at spot to numerous folk here on the forum cos i'm a good egg !!! 

But it is rare i need cash in a hurry these days 

[Stuntman]

I think someone on here (probably several people) exploited a pricing anomaly on the Royal Mint website last year, when they had a sale on their gifting ranges which meant that you could buy a pair of half-sovereign cufflinks, mounted in sterling silver, for much less than the spot price of a sovereign.  Top work, I wish I had thought of that too 🙂

[CollectForFun]

Well, considering that spot price of gold can easily go + or - tens of % over your long-term investment horizon, is it really so important if you save 2-3% on acquisition now? I would say such difference will become negligible over the long term so I wouldn't be too much worried about buying at spot.

Especially if you consider that even if you buy something at spot today, such price can become well over spot just a few days later... So maybe a deal at +3% today will be better than at spot tomorrow, and vice versa, a deal at spot today will be worse than at +3% tomorrow.

So, I would rather buy and enjoy nicer gold pieces which can additionally appreciate over time, than aiming at some poor condition coins.

[Stuntman]

^^^ Exactly.  I tend to set a target buying price and then acquire the coin if it's available for that price or less, and I have the money.

[Paul]

With experience rather than just looking for gold for spot

• Look for boxed proofs that could grade to a PF70
• Research and checking if a new release has a potential to have an upside in price
• Buying under priced graded coins on fleabay to move to a specialist coin auction 
• buying in bulk or high £££ gets you negotiating power
• buying from none web savvy coin dealers whilst knowing the values they attain at auction/fleabay/graded
• Buying coins from USA/Europe that are not regularly seen here in UK and resale for profit. not good now after brexit 

I'll shut up now

Giving all my secrets away here  !

 

[Abyss]

I only buy/sell 1 oz Gold coins so my advice related to this weight.

Before the pandemic started and screwed up everything many bullion dealers in Europe selling 1 oz Gold for 3% above spot and numerous occasions some UK dealers offering these prices as well. At the time on the forum numerous generic 1 oz Gold coins selling for spot price.

What you have to look at is the best buy back price dealers offering in the past it was several percentages below spot but right now it is at spot price

https://atkinsonsbullion.com/sell-to-us/gold-coins/sell-uk-britannia-1oz-gold-coin

The best price a dealer in the UK selling 1 oz Gold coin 4.47% above spot but you can get 2.5% above spot from the same dealer if you are willing to buy 250 coins. This information should tell you something that a UK dealer is still making a profit (smaller profit but offset by volume) even selling at 2.5% above spot.

Contact various dealers that you are willing to buy a full tube 10 oz Gold and ask for 3% above spot price (I have been buying 3.5%) if they want your business they will make a sale.

https://www.europeanmint.com/2021-1oz-uk-gold-britannia-coin/

https://auragentum.de/gold-goldmuenzen-1-unze-britannia/

https://atkinsonsbullion.com/gold/gold-coins/1oz-gold-coins/2021-uk-britannia-1oz-gold-coin

https://www.chards.co.uk/gold-britannia-1-ounce-coin/britannia-bullion-coin-pre-owned/2759

 

Cannot commit to a full tube then the alternative is to wait for Chards to have pre-owned coins back in stock can be purchased for 3% above spot.

https://www.chards.co.uk/gold-britannia-1-ounce-coin/britannia-bullion-coin-pre-owned/2759

The other alternative wait for majority of the world to the vaccinated everyone/industry to return to normal conditions and supply/demand of physical Gold to return back to status quo. By this time you are also hoping central bank money printing has not lead to an increase in inflation and we have avoided another melt up in global stock markets both would send the price of Gold to new highs.

[Darr3nG]

1 hour ago, BackyardBullion said:

I have purchased spot price gold, indeed below spot price gold on the forum a number of times, the most recent early in January 2021

The items that are listed at these prices do not stick around.

Just checked my spreadsheet and I've been able to pick up quite a few full and half sovs, and 2 x 1oz Krugs for spot or less, over the last year, right here on the forum. Have to agree with BYB, you have to be quick!

All of my purchases from H&B have been under spot (at the time of purchase).

[silvernewbie]

2 hours ago, CollectForFun said:

Well, considering that spot price of gold can easily go + or - tens of % over your long-term investment horizon, is it really so important if you save 2-3% on acquisition now? I would say such difference will become negligible over the long term so I wouldn't be too much worried about buying at spot.

Especially if you consider that even if you buy something at spot today, such price can become well over spot just a few days later... So maybe a deal at +3% today will be better than at spot tomorrow, and vice versa, a deal at spot today will be worse than at +3% tomorrow.

So, I would rather buy and enjoy nicer gold pieces which can additionally appreciate over time, than aiming at some poor condition coins.

Thanks good point a few % in the long run wont matter, just like a bargain!  Will keep an eye out here and the dealers 

[silvernewbie]

1 hour ago, Abyss said:

I only buy/sell 1 oz Gold coins so my advice related to this weight.

Before the pandemic started and screwed up everything many bullion dealers in Europe selling 1 oz Gold for 3% above spot and numerous occasions some UK dealers offering these prices as well. At the time on the forum numerous generic 1 oz Gold coins selling for spot price.

What you have to look at is the best buy back price dealers offering in the past it was several percentages below spot but right now it is at spot price

https://atkinsonsbullion.com/sell-to-us/gold-coins/sell-uk-britannia-1oz-gold-coin

The best price a dealer in the UK selling 1 oz Gold coin 4.47% above spot but you can get 2.5% above spot from the same dealer if you are willing to buy 250 coins. This information should tell you something that a UK dealer is still making a profit (smaller profit but offset by volume) even selling at 2.5% above spot.

Contact various dealers that you are willing to buy a full tube 10 oz Gold and ask for 3% above spot price (I have been buying 3.5%) if they want your business they will make a sale.

https://www.europeanmint.com/2021-1oz-uk-gold-britannia-coin/

https://auragentum.de/gold-goldmuenzen-1-unze-britannia/

https://atkinsonsbullion.com/gold/gold-coins/1oz-gold-coins/2021-uk-britannia-1oz-gold-coin

https://www.chards.co.uk/gold-britannia-1-ounce-coin/britannia-bullion-coin-pre-owned/2759

 

Cannot commit to a full tube then the alternative is to wait for Chards to have pre-owned coins back in stock can be purchased for 3% above spot.

https://www.chards.co.uk/gold-britannia-1-ounce-coin/britannia-bullion-coin-pre-owned/2759

The other alternative wait for majority of the world to the vaccinated everyone/industry to return to normal conditions and supply/demand of physical Gold to return back to status quo. By this time you are also hoping central bank money printing has not lead to an increase in inflation and we have avoided another melt up in global stock markets both would send the price of Gold to new highs.

Thanks some useful information!  I used to buy from HGM around 1/2% pre-2020 but now their prices are too high.  Im only looking for sovs or 1 1oz so cant benefit from bulk purchases.  I did Just notice chards have 1oz for 2.7% which i will consider in the coming weeks

https://www.chards.co.uk/1-ounce-gold-coin/1oz-gold-bullion-coin/one-ounce-best-value/486

[dicker]

I don’t sell, but if I did for bullion, it would be for spot.

I don’t want to be hanging around, haggling etc.  Just want to sell to good folk who trust me and buy repeatedly.  
 

As a buyer, I have occasionally got spot here but not that often - you have to be quick!

Best

Dicker

[HawkHybrid]

I don't get what people are trying to achieve. in the longer term bigger picture the few %

difference will probably end up as a rounding error. getting gold for spot is a non profitable

trade for the seller(it's really only for items when people want out). I'm thinking those who

are looking to buy at spot prices might have lost the plot(how does this work as part of a

strategy?).

 

HH

[sovereignsteve]

Getting anything for a few % less is always useful but some people get too obsessed with the whole idea. They seem happy to waste too much of their precious time searching things out for a few pounds or even pence less. Life's too short.

[Paul]

Just now, sovereignsteve said:

They seem happy to waste too much of their precious time searching things out for a few pounds or even pence less. Life's too short.

Here Here !

"time" is the one thing everyone is equal at whether a Jeremy Kyle viewer or CEO of billion dollar company 

If you equate your hourly rate of pay of say £20 an hour

Scouting round to find bargain or the cheapest of the cheap if it takes your two hours to find it, but your bargain gold has really cost you £40 in lost 'time'

It is FREE time you have lost, time you'll never get back 

I have extended family members who happily drive half an hour to another town or queue up to save a few quid on something in a sale.

ie people who dont value their time to highly

[Spark268]

i was lucky enough to be able to buy a few gold coins a few years back on eBay at spot (but slightly above to due to postage).

 

 

[Coolsmp]

It seems too be much harder to get anything at spot these days, even on the forum prices are matching some dealers.

[Bars]

2 hours ago, Coolsmp said:

It seems too be much harder to get anything at spot these days, even on the forum prices are maching some dealers.

Sometimes more!

[Spark268]

Perhaps the definition of spot needs to change :0)

well from a personal perspective, i am happy to sell at close to spot when I want/need to sell.

Having already done this, the remaining items are scarce/of sentimental value and difficult to part with.