Are gold £2 coins a good choice to stack?

[Mtaybar]

Hi all.

Im mtaybar and I've just joined the forum. I've heard that this is a good place to come and learn a few things about stacking, investing and collecting all things gold so here I am. I've bought 3 gold proof £2 coins and I'm wondering if I made the right start. One is boxed and has a c.o.a and two are coin only in the original capsule. Any advice would help me out enormously and be most appreciated. I look forward to what you guys think. 

[ChrisSilver]

Hello and welcome to The Silver Forum  

[Mtaybar]

Thanks @ChrisSilver.

I'm happy to be here and take onboard what you guys have to say. 👍

[CollectorNo1]

Hi and welcome...I've never bought a £2 Gold coin...just not my thing but I would imagine there are quite a few collectors of these. A diversity of choice and design...Any kind of Gold coin gets my attention and you really can't go wrong when buying Gold...What made you start with them instead of let's say a 1/2 oz bullion coin of similar weight in grams? 

Regards

[Mtaybar]

Hey @CollectorNo1

For some funny reason I just like £2 coins. I never spend them, I just save them up and then change them up whenever I feel it's time. Recently gold has been a bit of a hot topic and when I saw there were gold versions of the £2 I was instantly interested. I wouldn't say I'm going to be a real collector as such but something draws me to them. I find them more interesting to look at then a standard double sovereign. 

[pricha]

9 minutes ago, Mtaybar said:

Hey @CollectorNo1

For some funny reason I just like £2 coins. I never spend them, I just save them up and then change them up whenever I feel it's time. Recently gold has been a bit of a hot topic and when I saw there were gold versions of the £2 I was instantly interested. I wouldn't say I'm going to be a real collector as such but something draws me to them. I find them more interesting to look at then a standard double sovereign. 

If it's your thing then go for it. I don't think there is a huge secondary market for them . 50p seem far more popular.  The trouble may come if you need to sell them on.  Sovereigns are by far the better bet in that situation. 

[CollectorNo1]

25 minutes ago, Mtaybar said:

Hey @CollectorNo1

For some funny reason I just like £2 coins. I never spend them, I just save them up and then change them up whenever I feel it's time. Recently gold has been a bit of a hot topic and when I saw there were gold versions of the £2 I was instantly interested. I wouldn't say I'm going to be a real collector as such but something draws me to them. I find them more interesting to look at then a standard double sovereign. 

I always say....(Buy what you like) 👍👍

[Mtaybar]

I saw the dip in gold price at the beginning of the week pretty much as it happened. I had a quick look at what was available and I picked up the last 2 for less than the price of a standard 2021 double sovereign at now prices. They were as close to spot as any price I saw anything else for. 

[Mtaybar]

2 minutes ago, CollectorNo1 said:

I always say....(Buy what you like) 👍👍

That's what I've heard a lot of👍

[CollectorNo1]

I agree with @pricha liquidity wise could take a little longer to sell on. I have a diverse collection but mainly Sovreigns as that's my interest and easy to sell on...when and if the time comes.

Good time to buy PM's but wouldn't surprise me if the spot prices go lower..

[Mtaybar]

I guess what I have are considered semi-numi without the box so I was hinging my bets they might hold some of that value as well as the intrinsic value. Probably not much if any but for what I paid I think I hit a score. Time will tell. 

[CollectorNo1]

Sounds like from what your saying you got a good deal and that's what we all look for..

 

[Mtaybar]

1 hour ago, CollectorNo1 said:

I agree with @pricha liquidity wise could take a little longer to sell on. I have a diverse collection but mainly Sovreigns as that's my interest and easy to sell on...when and if the time comes.

Good time to buy PM's but wouldn't surprise me if the spot prices go lower..

What are "PM's" (sorry, in a rookie lol) and yeah... I think sovereigns are going to be my next target. I'd like a tube eventually. 

[CollectorNo1]

5 minutes ago, Mtaybar said:

What are "PM's" (sorry, in a rookie lol) and yeah... I think sovereigns are going to be my next target. I'd like a tube eventually. 

PM's are short for Precious metals...I.e Gold,Silver,Platinum etc....I doubt you will get someone selling tubes in Sovreigns..buy individually but do your research and never keep in a tube..always capsules or coin trays individually as you want to keep them in the best condition you can...Have a look at the Victorian era as they have a diversity of designs...Young Head,veiled and old..Go for Shield backs as they are more collected...Read up on special years,look for condition and avoid ebay..Too many fakes,buy from a reputable dealer and members on the forum and you won't go wrong...look at the George I,II,III and IV - Not cheap in AU Condition or better... or Edward VII - George V...or later Queen Elizabeth...or the new sovs  some key dates 1989,2002,2005,2017 with the Trident privy mark..to name but a few..but I can't stress enough to do your research or ask members on here for their experience and knowledge..

Regards

[Mtaybar]

1 hour ago, CollectorNo1 said:

PM's are short for Precious metals...I.e Gold,Silver,Platinum etc....I doubt you will get someone selling tubes in Sovreigns..buy individually but do your research and never keep in a tube..always capsules or coin trays individually as you want to keep them in the best condition you can...Have a look at the Victorian era as they have a diversity of designs...Young Head,veiled and old..Go for Shield backs as they are more collected...Read up on special years,look for condition and avoid ebay..Too many fakes,buy from a reputable dealer and members on the forum and you won't go wrong...look at the George I,II,III and IV - Not cheap in AU Condition or better... or Edward VII - George V...or later Queen Elizabeth...or the new sovs  some key dates 1989,2002,2005,2017 with the Trident privy mark..to name but a few..but I can't stress enough to do your research or ask members on here for their experience and knowledge..

Regards

Thanks for the tips and heads up. I'll bear it in mind when I'm browsing. It's a lot to look for. 

[CollectorNo1]

2 minutes ago, Mtaybar said:

Thanks for the tips and heads up. I'll bear it in mind when I'm browsing. It's a lot to look for. 

Can be a bit daunting at first..but research is the key...

Regards.

[trp]

Hello and welcome to the forum  

[Arganto]

If you managed up pick up gold £2 coins for a premium comparable to Sovereigns I'd say you've done quite well. It's Royal Mint gold, I understand what the other members have said about the potential difficulties when selling on but if you don't ask for big premiums when doing so I sure they'll shift. My advice is that if you're new to gold have a reasonable plan for how the stuff will be used and an idea of how you'll exit if you need/want to. Think about why you're buying and what your goals are.

Welcome.

[Mtaybar]

27 minutes ago, Liam84 said:

If you managed up pick up gold £2 coins for a premium comparable to Sovereigns I'd say you've done quite well. It's Royal Mint gold, I understand what the other members have said about the potential difficulties when selling on but if you don't ask for big premiums when doing so I sure they'll shift. My advice is that if you're new to gold have a reasonable plan for how the stuff will be used and an idea of how you'll exit if you need/want to. Think about why you're buying and what your goals are.

Welcome.

Hey @Liam84

I don't have any real plan at the moment for how I'm going to use it as it's not commonly used to pay for anything. I'm just sort of "hopping on the bandwagon" at the moment and with the sharp dip last week it soured me into taking the plunge. I'm taking a little bit of a gamble because as they say.... "You've got to speculate to accumulate" I paid £635 per coin only proof £2 and £760 for a boxed + coa proof £2. I think it was a decent buy from what I've seen but I'll take notice of what others have said about the liquidity of them and so long as I can get back what I paid in the future I'll be happy. Any more would be a nice bonus though right 😉

[CadmiumGreen]

Welcome aboard The Silver Forum!

[Arganto]

9 hours ago, Mtaybar said:

Hey @Liam84

I don't have any real plan at the moment for how I'm going to use it as it's not commonly used to pay for anything. I'm just sort of "hopping on the bandwagon" at the moment and with the sharp dip last week it soured me into taking the plunge. I'm taking a little bit of a gamble because as they say.... "You've got to speculate to accumulate" I paid £635 per coin only proof £2 and £760 for a boxed + coa proof £2. I think it was a decent buy from what I've seen but I'll take notice of what others have said about the liquidity of them and so long as I can get back what I paid in the future I'll be happy. Any more would be a nice bonus though right 😉

By use I didn't mean as a medium for purchasing things. Do you see it as a hedge against potential financial calamity? Is it a savings mechanism? Is for collecting and then bequeathing to a child? That sort of thing. It will help you to work out what kind of thing you want to accumulate, how to work out costing and what it would mean if you needed to 'cash out', amongst other considerations.

[Mtaybar]

1 hour ago, Liam84 said:

By use I didn't mean as a medium for purchasing things. Do you see it as a hedge against potential financial calamity? Is it a savings mechanism? Is for collecting and then bequeathing to a child? That sort of thing. It will help you to work out what kind of thing you want to accumulate, how to work out costing and what it would mean if you needed to 'cash out', amongst other considerations.

For now I see it as a savings mechanism. I see it as a little bit of a gamble that prices might rise in the mean time.  If it doesn't however and I don't need to cash out then it'll be left to my kids. And again in the meantime... if the worlds banking does collapse then I'll be somewhat prepared, hence sovereign's being my main target. There's a lot of versatility in gold and also what's recognisable worldwide. 

[CollectorNo1]

A savings mechanism is a good way to look at it. Most of us who stack Gold and Silver are in it for the long term. The markets are nervous atm not just PM's but stocks/commodities etc...We could see a further drop in Gold and Silver but Gold looks like it might have hit its resistance level although some analysts still think it could have a drop under $1700.

Personally I see Gold re-bounding and heading up but could be some time before it reaches that $2000 spot price that was predicted for the end of the year Q4....Buying PM's isnt a get rich quickly scheme...keep stacking,get quality and don't pay to much on premiums is my advice....but its just my opinion...

 

[GoldGodfrey]

Welcome to the Silver Forum!
The Silver forum is a great place for getting advice and I think everyone above has already given you great advice that I think all the things I would of said have already been said! The silver forum is a great place as the older and more experienced members are happy to help us new and inexperienced member out and it’s good to remember that it is a learning curve and it is best to try things out and see what works for you and in time we will figure it out.

[daca]

Welcome aboard!