Advice from the master yoda’s out there on first gold purchase

[kurama]

Thanks @HerefordBullyun

[Arganto]

Gold price in grams for the day in question (Bullion By Post's charts are very useful) then add about 5%.

That will give you a ballpark for basic bullion. Useful for a statistician but the important price is what it is when you're looking to buy or sell. Many people have tried predictions based on charts but there are just too many factors affecting the real world price of physical gold.

Edited February 19, 2021 by Liam84

[morezone]

@MadCityMatt Moved your question into a recent and more suitable thread.

[MadCityMatt]

1 hour ago, morezone said:

@MadCityMatt Moved your question into a recent and more suitable thread.

Right on. Thanks!

 

[silvernewbie]

3 hours ago, kurama said:

When gold was at its peak recently what sort of price were the average  sovs being sold for?

I’m trying to find some historical price charts for sovs but can’t find any.

Cheers

Bullion were around 340-350 a few months back

[Abyss]

My avatar is baby Yoda but I hope my advice still counts.....

As Pete already stated with generic 1 oz raw bullion coin purchased in the UK it is about the type of coin and the premium over spot and delivery cost. Don't be fooled into thinking that 1 oz Gold 999 coin are all the same

https://atkinsonsbullion.com/sell-to-us/gold-coins?sort=Please Select&quantity=24&page=1&view=grid&filter_weight=weight_1ozgold

You will notice Austrian Philharmonic and UK Britannia Post 2012 1oz Gold coin difference in £30 dealer willing to pay depending what type of coin you are selling.

Don't stick with UK dealers look bullion dealers in Germany / European mint / Coininvest (sometimes do special offers).

In the current climate looking at 3.5 - 4.0% over spot from a dealer premiums will reduce if you buy a full tube. Holding your first 1 oz Gold coin has a special feeling. Be careful don't want to end up being called a Gold bug....

Edited February 20, 2021 by Abyss

[kurama]

2 hours ago, Abyss said:

My avatar is baby Yoda but I hope my advice still counts.....

As Pete already stated with generic 1 oz raw bullion coin purchased in the UK it is about the type of coin and the premium over spot and delivery cost. Don't be fooled into thinking that 1 oz Gold 999 coin are all the same

https://atkinsonsbullion.com/sell-to-us/gold-coins?sort=Please Select&quantity=24&page=1&view=grid&filter_weight=weight_1ozgold

You will notice Austrian Philharmonic and UK Britannia Post 2012 1oz Gold coin difference in £30 dealer willing to pay depending what type of coin you are selling.

Don't stick with UK dealers look bullion dealers in Germany / European mint / Coininvest (sometimes do special offers).

In the current climate looking at 3.5 - 4.0% over spot from a dealer premiums will reduce if you buy a full tube. Holding your first 1 oz Gold coin has a special feeling. Be careful don't want to end up being called a Gold bug....

Haha thanks for the advice @Abyss and I think massive fitting your avatar if baby yoda!! 👌🏽😁

I think in honesty I am leaning towards my first gold coin purchase to be a 1oz coin rather than a sovs. When @Pete talked about his first gold purchase being the 50g gold bar and how chuffed he was - I think that’s the feeling I’m after 👍🏼 The sovs and their advantages of margins and liquidity can come afterwards I think 😊 

[Foster88]

On 19/02/2021 at 21:53, kurama said:

When gold was at its peak recently what sort of price were the average  sovs being sold for?

I’m trying to find some historical price charts for sovs but can’t find any.

Cheers

When gold was at its peak around August/September 2020 ish sovereigns were selling on the trade section here for around £350 mark for bullion. There hasn't been many for sale since the gold price dropped recently.

If I remember rightly the bullion sovereigns on eBay were going for around £380-£400 ish. But generally they're always inflated prices on eBay and people pay it!!

I mostly have Sovereigns and part of that is the history and the variety for me. But Britannias are also good, the 1/10 oz, 1/4 oz, 1/2 oz and 1 oz so there's a few sizes to choose from but obviously you'll pay a higher premium on the smaller Britannias.

Welcome to the club and buy what you like but most importantly, like what you buy.

[Swampy]

39 minutes ago, Foster88 said:

Britannias are also good

I’ve always been drawn to Sovs because of the history aspect... but the 1/4 Oz Brits are lovely.  

You could always go for a quintuple sovereign... 

[Coolsmp]

53 minutes ago, Foster88 said:

When gold was at its peak around August/September 2020 ish sovereigns were selling on the trade section here for around £350 mark for bullion. There hasn't been many for sale since the gold price dropped recently.

And there's some still up for sale here with higher prices than most dealers. 

Dealers have been forced to lower their prices, private sellers have not and want top dollar

[20JMK20]

On 19/02/2021 at 09:25, kurama said:

Thanks for the advice everyone, you can't beat being given advice form people who have researched the nooks and crannies over a long period of time.

I am involved to make a profit, but certainly not the only reason. The metal itself, from the sexyness of some of the coins to poured piece of art - its all just fun to be owning such pieces really.

I've never considered Sovs, and after reading @dicker comment - I realise there's some good history to be aware of.

Interesting no-one has mentioned 1/4oz gold coins - is this premium just too high on these? I've got so say the 'Gold Standard' and the 'Lunar Rat' look simply awesome!

I happen to have the 1/4 oz Gold Proof Rat. It is a stunning coin, and I really want to hold onto it, but will be listing it on here soon as an auction. If interested let me know and I'll let you know I have listed it  

[sjhdesmond]

On 18/02/2021 at 21:55, kurama said:

Hi all,

Looking for some friendly advice from the wise please... 

Never put your willy in a light socket.

 

 

Oh, you meant advice about buying gold? Yeah, buy whatever you like, just beware of high premiums (premia?) Because it will always be worth its weight in gold.

[HerefordBullyun]

Its healthy to masterbate regular except when you are on a packed no9 bus, mighty be a tad awkward!

1 hour ago, sjhdesmond said:

Never put your willy in a light socket.

 

 

Oh, you meant advice about buying gold? Yeah, buy whatever you like, just beware of high premiums (premia?) Because it will always be worth its weight in gold.

 

[NewCoins]

Looking to purchase my first modern gold bullion (I don't have any gold apart from a young head sov), so this thread has been very useful.

I was tempted to get a 1oz QB completer but this thread has probably steered me away from that.

I don't mind getting sovs, so will probably go down that route. 

Thanks everyone for the comments, perfectly timed for me.

[GoldDiggerDave]

Buy as many 2022 bullion sovereigns as you can......even if this means liquidating your current stash.   The spread at a dealer is only £17 for a basic sov and a new 2022 bullion.  These 2022 are likely to carry  a £30-£50 premium in the future regardless of live prices.  

Guys on here will buy sovs for bullion price so you really can't go wrong.

 

Edited February 18, 2022 by GoldDiggerDave

[NewCoins]

Thanks @GoldDiggerDave.

The forum wisdom is brilliant.

[bearandhog]

Really interesting to read this thread.

I noticed that the 1/10 oz Britannia seems to sell quite easily. Is that something people would agree with or have I misinterpreted that?

[Petra]

8 minutes ago, bearandhog said:

Really interesting to read this thread.

I noticed that the 1/10 oz Britannia seems to sell quite easily. Is that something people would agree with or have I misinterpreted that?

Let’s be honest, we buy what we can afford (or not!), so it is nice to be able to get a 1/10th, or a a half sovereign to bulk out the stack or even the occasional 1/4 sov.

[Stuntman]

2022 is a really good year to be buying new bullion sovereigns - special reverse and all that.  You really cannot go wrong buying these.

But a 1oz gold coin or bar is considerably more spectacular to hold, in my opinion.  So if I could afford it, I would buy a 2022 bullion sovereign and then one or more 1 oz bullion gold coins, such as (assuming you are in the UK) a current year Britannia, QB completer, Tudor Beast Lion and possibly the Myths & Legends coins if you like them.

I have a couple of the 1 oz RM gold bars and they are impressive things, to my eyes.  Much nicer than I thought they would be.

But if you just bought 2022 bullion sovereigns this year, that would be a very good strategy.

[Stuntman]

I do like the 1/4 oz coins, especially the Gold Standard - but I see these more as collectable than stackable.  I think the spread between buying and selling is higher than it is for bullion sovereigns and 1 oz bullion coins.  It certainly is if you were trying to sell to a dealer.  I might be wrong when it comes to a private sale.