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Pre owned silver coins


Tonplus

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Have noticed at one online bullion dealer that the second hand coins are more expensive than the new coins of the same weight and type. If anything I thought they would be cheaper due to the VAT already being paid on the original amount. 

 

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1 hour ago, Tonplus said:

Have noticed at one online bullion dealer that the second hand coins are more expensive than the new coins of the same weight and type. If anything I thought they would be cheaper due to the VAT already being paid on the original amount. 

 

Maybe it is something special in the UK, but in most countries pre-owned coins are indeed cheaper than the uncirculated ones what is normal.

Here you often get a discount from around 5-7% if you buy a tube of pre-owned coins in perfect condition. Only catch is that you have to buy them with a full tube but the discount is big.

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1 hour ago, Centauri167 said:

Maybe it is something special in the UK, but in most countries pre-owned coins are indeed cheaper than the uncirculated ones what is normal.

Here you often get a discount from around 5-7% if you buy a tube of pre-owned coins in perfect condition. Only catch is that you have to buy them with a full tube but the discount is big.

No, I think they one or two sometimes just adjust prices when they want to push something with a higher % profit margin is more likely; currently 2022 Brits for example. 

A society grows great when old men plant trees whose shade they know they will never sit in.

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Same type and weight however isn't the same date i.e. year of mintage.
Many popular coins have different mintage figures and some, of the same type, could cost a lot more as scarce and more for collectors rather than stackers..
For example you can buy a fairly recent silver Mexican Libertad for say £30, but the 1998 version might cost 5 times this.
Boring silver Maples tend to be amongst the cheapest bullion but find a 1997 for less than £50 these days and I will join the queue to purchase.

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2 hours ago, Pete said:

Same type and weight however isn't the same date i.e. year of mintage.
Many popular coins have different mintage figures and some, of the same type, could cost a lot more as scarce and more for collectors rather than stackers..
For example you can buy a fairly recent silver Mexican Libertad for say £30, but the 1998 version might cost 5 times this.
Boring silver Maples tend to be amongst the cheapest bullion but find a 1997 for less than £50 these days and I will join the queue to purchase.

Exactly what i was gonna say. Lots of variables.

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Numismatic interest in a UK bullion coin. There are a couple of brits I may pay over the standard amount for (but not the price of a 2020 brit for example).

The US dealers are far more consumer driven with lower overheads. Less people are into buying silver in the UK per thousand head because of the vat. so the bigger bullion dealers have to make their money where they can.

Edited by frugalman
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  • 2 weeks later...
On 23/11/2021 at 15:00, Centauri167 said:

Maybe it is something special in the UK, but in most countries pre-owned coins are indeed cheaper than the uncirculated ones what is normal.

Here you often get a discount from around 5-7% if you buy a tube of pre-owned coins in perfect condition. Only catch is that you have to buy them with a full tube but the discount is big.

Hi Centauri167,

I'm in the market for tubes of 2022 1oz Silver Britannia's in perfect condition. To acquire them, I'm expecting to go to one of the main dealers but, if there's a trusted TSF member I can buy them from - then I'd certainly consider the option That said, there's a twofold catch-22 for a new member and novice stacker like me  . . .

1. I could sign up for premium membership only to find there isn't anyone in this particular market place. And I imagine that's the case, as the spot silver price is circa the year lows and so, presumably, any seller would be making a loss. (Ergo - there won't be m/any sellers.)

2. I've opted for the Britannia solely for its security features but, even so, presumably fakes are out there which might find their way into a privately purchased tube. Whilst this is also possible via an established dealer, I think it's less likely as once word gets out that they've passed on a fake coin (albeit unwittingly) - their reputation will be toast.

Tricky one - for me at least!

 

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@timsk - there is one active listing in the Buy & Sell right now for 2022 brits, which is visible to all members [https://www.thesilverforum.com/topic/54613-2022-1oz-silver-britannia-coins-for-sale-£2550each]

The 2021 brit has the same security features and these often come up for sale at great prices, which is where premium membership really comes in to play - early access to the sales listing.

It's also easy to see a member's feedback on the forum, and it's treated pretty much the same as how you've described established dealers, nobody wants to get bad rep - there are also intermediary services, which may also include validation.

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