Why are dealers more expensive than Royal Mint?

[JS2021]

Hi all first time here posting so forgive the naivety but I'm seeing the deals here and they don't see particularly very good (I'm new at this) is this a sign of the times or are deals always close to online dealer prices? 

I started looking into Silver fairly recently, and remembered i had a load of coins given to me when an old relative passed away. He bought all of his from the Royal Mint. I dug them out last night as ive been looking at 

a lot of silver videos lately, and he has quite the collection. He had the invoices with them all. Interesting to see the price rise of gold from 2002 to 2009 where he purchased the same 4 or 5 sovereign sets every year. 

Quite the hike from.. 2005 to 2007 i think . Any way, all that waffle is a long winded preamble to say that ive been looking (quick google search) at sites that sell gold and silver, and they pretty much seem the same or in 

most cases more expensive than the Royal mint. Other than the fact that you might want specific coins or bars from mints around the world, why would some not just go to the Royal mint?  

[ChrisSilver]

@JS2021 the deals topic is for members sharing deals they find, not for questions to invite discussion. I have therefore moved your post to it’s own topic as you are inviting discussion, members can now discuss your questions without taking the deals topic off topic.

I have also put what I felt was a relevant title after reading your post, but please feel free to edit your title should you wish.

Note that margins on precious metals are very tight, so it’s not possible for dealers to give high % discount offers and deals that you may be used to seeing in other markets. Still, TSF have negotiated some very good discounts for Platinum Premium members.

The best deals may also be; buying on the forum itself, but I’ll let other members add info about that  

[JS2021]

@ChrisSilverAppreciate that, first post and got it wrong!  And appreciate your input @Witcher  

Sounds like what I'm seeing is correct. I just thought i was missing something. I am not sure that purchasing from the Royal mint is particularly less discreet than buyingf from any where else. Of course if you

save up cash and pay a private dealer and then later, sell to a private buyer for cash, then you are less likely to be found out for not paying Capital gains tax and possibly VAT if those taxes would have applied, but,

in reality, No one knows how long you are holding or when you are selling. Ive paid VAT which i wasn't happy about, but such is life. 

Thanks again, look forward to learning. 

John

[Pete]

I think you are mistaken.

Please spend some time checking this forum especially the section discussing dealers etc.

Then compare prices from say Atkinsons, Chards and the Royal Mint.
For example pick a silver coin that is priced on all 3 sites say the latest 2 oz Queens Beast Greyhound.
Remember to select qty 1 and not the “from” price, add 20% VAT if not included and add shipping if not included to arrive at the price you will pay to have this coin in your hand.

In my experience the RM tends to be the most expensive 99% of the time.

[JS2021]

Hi

I done exactly that for a few which is what raised the question. I did think that when i clicked on the coins  the price advertised as you mention is from, and 0ne coin was more expensive. Still., i found the comparrisons on Chards 

to be more expensive. I even found this with some VAT exempt coins, not all.  So, Im very new to this, I thought i was missing something thats all. I understand now that the margins across the board are small and it doesn't look like 

there will ever be amazing deals, so to speak, not like you might get with other items for sale.  Which is good, when it comes to sell. 

 

Being new, Im happy buying from RM for my first Kilo bar and roll of coins, but now im on here, I will look at private sellers. I imagine people new to this can sometimes go straight to ebay and end up with dodgy assets. I intend to hold

for my son (he is 3) so, in for the long run. 

[theylivewesleep27]

When ever i buy Royal mint products i always get them cheaper from dealers. Usually Atkinsons.

[JS2021]

1 hour ago, theylivewesleep27 said:

When ever i buy Royal mint products i always get them cheaper from dealers. Usually Atkinsons.

good to know

[Pete]

21 hours ago, JS2021 said:

Being new, Im happy buying from RM for my first Kilo bar and roll of coins, but now im on here, I will look at private sellers. I imagine people new to this can sometimes go straight to ebay and end up with dodgy assets. I intend to hold

Unless you are looking to purchase the latest coins 2020 and 2021 you might wish to place a wanted post in the trade section.
I have full tubes of many silver bullion coins, all purchased sealed and uncirculated - Britannias, Maples, Canadian Wildlife, American Eagles, etc
I am sure the unit price will beat any dealers.
Do your research and price comparisons and advertise on this forum ( no cost to do so ) your wish list or feel free to PM me.
I think it is always better for a new buyer to set their budget and price rather than ask how much from a prospective seller.
Another suggestion is to compare the price of a kilo coin to a kilo bar.
Personally the coin wins every time in appeal but some people like bars - minted and designed over boring poured blocks / bricks for me anyhow.