Gold and Silver Price Drop

[BigMac]

Hi Everyone,

I'm still getting my head around stacking and still doing some research. I was wondering how long does it take for a price drop to be reflected in a shop like The Britannia Coin Company or Bullion by post?

Thanks to everyone who posts, this is a very useful forum

Mac

[GoldDiggerDave]

23 minutes ago, BigMac said:

Hi Everyone,

I'm still getting my head around stacking and still doing some research. I was wondering how long does it take for a price drop to be reflected in a shop like The Britannia Coin Company or Bullion by post?

Thanks to everyone who posts, this is a very useful forum

Mac

Instantly

[BigMac]

Is that just for gold? Its just I noticed the price of silver is down about £1 and buying 10 silver coins on the Britannia coin company is the same price it was the other day £296

https://britanniacoincompany.com/buy-coins/silver-coins/1-ounce-silver-britannia-post-2012-best-value-vat-free/

[Shep]

Much like everything else, dealers prices go up like rockets and come down like a feathers.

[BigMac]

Ahh that makes sense.

[HawkHybrid]

coins that are currently minted/easily replaceable should follow price drops more quickly.

previously minted or less common coins are likely to be slower to change to price drops.

 

HH

[MetalsMan]

1 hour ago, BigMac said:

Hi Everyone,

I'm still getting my head around stacking and still doing some research. I was wondering how long does it take for a price drop to be reflected in a shop like The Britannia Coin Company or Bullion by post?

Thanks to everyone who posts, this is a very useful forum

Mac

My personal go to are ATSBullion, Atkinsons and Chards (oh and Bairds, too). Although you can find cheaper deals on hear. Price drops take their time, like any business that needs to weather shocks in price. 

[Spark268]

gold: price moves more or less in real time 

silver: it tracks small moves in real time, but less so for drastic drops such as today 😕

[Foster88]

1 hour ago, Shep said:

Much like everything else, dealers prices go up like rockets and come down like a feathers.

This is a very good way to put it.

Do you remember in March 2020 when silver dropped below £10 an Oz. I think the cheapest 1oz silver coins I could find were around £25 each. 🤷🏻‍♂️

[LawrenceChard]

2 hours ago, BigMac said:

Hi Everyone,

I'm still getting my head around stacking and still doing some research. I was wondering how long does it take for a price drop to be reflected in a shop like The Britannia Coin Company or Bullion by post?

Thanks to everyone who posts, this is a very useful forum

Mac

Did you miss somebody out?

https://www.chards.co.uk/blog/newbies-investment-guide/1008
 

[LawrenceChard]

2 hours ago, GoldDiggerDave said:

Instantly

Correct, mainly, certainly as far as bullion goes, for the better dealers at least! 🙂

 

1 hour ago, Shep said:

Much like everything else, dealers prices go up like rockets and come down like a feathers.

For numismatic stuff, yes, but see above for bullion.

[Arganto]

I stopped judging silver by the spot price after it recovered from the big drop early last year. I think in cost average terms and avoid super premium stuff as a rule. Attainable bullion prices aren't really the same thing as the price of futures or industry trading. In my opinion.

Gold tends to track a bit more reliably to spot and the dealer's prices tend to reflect this pretty quickly. There has been a move upward in average premiums for gold though, so that needs to be factored in. 2-3% still happens but not as often.

[SidS]

Yeah but isn't silver heading to the moon? The moon must be underneath the earth at this present time...

[GoldDiggerDave]

BigMac.  There's no making sense of the perfect time to buy, if you knew that you'd be a very rich man.  A good place to start are secondary market bullion Sovereigns and have a game plan, a  sovereign a month or every few months.  If you are buying for the long term daily/weekly fluctuations don't really come into it (baring a massive gain or crash)  even large shifts level out over time.  

I see people buy into gold and once they have it in hand they expect too much too soon and are watching spot prices every second of the day.  Some have very low attention spans and sell gold off as fast as they buy it normally at a loss.

Don't over stretch only buy what you can afford to hold.   

[Arganto]

Prices move for loads of reasons, and timeframes for things are unknown. You swap out of fiat into metal based on your own analysis, beliefs and judgement. The fact that everything is valued against what could well prove to be a collapsing currency depending on what happens means that the spot "price" is only part of the story.

[Pete]

1 hour ago, Foster88 said:

Do you remember in March 2020 when silver dropped below £10 an Oz. I think the cheapest 1oz silver coins I could find were around £25 each. 🤷🏻‍♂️

£25 each ???
Where were you looking ?
I bought all my Queens Beasts White Horse for less than £15 / oz each ( delivered ) during the March 2020 dip. 😎

[Arganto]

1 minute ago, Pete said:

£25 each ???
Where were you looking ?
I bought all my Queens Beasts White Horse for less than £15 / oz each ( delivered ) during the March 2020 dip. 😎

This reflects the kind of pricing that was available from the continent at the time for sure.

[BigMac]

Thanks everyone thats good advice. I want to leave what I buy to my kids in 30 years, so I guess its not a big issue what prices do short term.

[sixgun]

i was looking at the price of monster boxes of Britannias on Atkinsons last night - i happened to write the price down. It was £11 115. Right now the price is £10,785. That is a fall of £330. That is a fall of 2.97%.
Looking at XAG/GBP on Tradingview it looks like price fell 3.3% between the time i looked and now. So the price on Atkinsons is not following spot exactly but it is quite resposive. Now if price were to absolutely crash like March 2020 i expect the selling price of coins will not follow spot.

[Tn21]

48 minutes ago, sixgun said:

i was looking at the price of monster boxes of Britannias on Atkinsons last night - i happened to write the price down. It was £11 115. Right now the price is £10,785. That is a fall of £330. That is a fall of 2.97%.
Looking at XAG/GBP on Tradingview it looks like price fell 3.3% between the time i looked and now. So the price on Atkinsons is not following spot exactly but it is quite resposive. Now if price were to absolutely crash like March 2020 i expect the selling price of coins will not follow spot.

Did they have stock yday, today there is nothing available

[sixgun]

4 minutes ago, Tn21 said:

Did they have stock yday, today there is nothing available

i presume that you looked just now. When i posted my comment the out of stock was not showing and certainly not showing last night.

i saw a comment by Dave Kranzler on twitter today where he said the drop in the silver price had resulted in dealers' phones ringing off the hook.

[Tn21]

Pretty much a given, with such a big drop in spot, for the past 2 days now. 

[SidS]

Buying the dip no doubt.

[TommyTwoShots]

17 hours ago, Foster88 said:

This is a very good way to put it.

Do you remember in March 2020 when silver dropped below £10 an Oz. I think the cheapest 1oz silver coins I could find were around £25 each. 🤷🏻‍♂️

Strange I was buying kg bars from bairds for 480

[Foster88]

16 hours ago, Pete said:

£25 each ???
Where were you looking ?
I bought all my Queens Beasts White Horse for less than £15 / oz each ( delivered ) during the March 2020 dip. 😎

I maybe should have said I was looking at the main U.K. bullion dealers.

I obviously wasn’t looking in the right places.