2022 Platinum Jubilee SOTD Sovereign

[SilverJacks]

Just about to go out but thought I'd post this first. Just got an email from Chard's stating my coin is with their warehouse team and a link provided option to choose my dispatch date next week. Nice service.

Not once did I wonder where my coin was and what was the hold up 🤥

All jokes aside, Chard's are top draw. 

[blackadder]

1 hour ago, LawrenceChard said:

Carriers lodging incorrect VAT status on import documents is very common. My guess is it happens about 50% if the time, and it seems like all carriers are guilty of it.

My guess is like alot of other things they do it's done on purpose So they can scam money from people that don't know any better.

[CoinBug]

46 minutes ago, GoldDiggerDave said:

@CoinBug if you are going to cancel your order please can you let me know as I would like your allocation for another SOTD sov. 

I've calmed down a bit now I've been given some more information. 

[LawrenceChard]

3 hours ago, MJCOIN said:

These matters are outside your control.....

I know, as do you, but if any have problems, and we send them out without checking, we will get complaints, and if any need returning to the RM for replacement, there will be quintuple shipping costs, more delay, and probably more complaints.

C'est la vie!

😎

[LawrenceChard]

3 hours ago, blackadder said:

My guess is like alot of other things they do it's done on purpose So they can scam money from people that don't know any better.

I am not quite as cynical.

In my opinion, it is because most of them (carriers) are incompetent.

It would also cost them more money to employ people who could and would do the job right 99% of them time.

When it comes to HMRC, and other Customs, then I would broadly agree with you.

 

[LawrenceChard]

Someone asked me about 

2022 Tudor Beasts Lion of England 2 oz Silver Bullion Coin

A long awaited delivery of these arrived today:

https://www.chards.co.uk/2022-2oz-silver-tudor-beasts-lion-of-england-bullion-coin/16180

Price Comparison Against Other UK Bullion Dealers - Updated at 18-Mar-2022 07:08

Qty	Chards (Excl Delivery)	Chards (Inc Delivery)	B*	G*	BB	SP	GER
5	£61.42	£62.62	£68.52	£67.32	£66.58	£65.05	£66.60
10	£60.52	£61.12	£67.56	£66.72	£65.98	£64.55	£63.96
25	£59.02	£59.46	£66.00	£66.36	£65.08	£64.04	£60.24

🙂

 

[James32]

9 minutes ago, LawrenceChard said:

Someone asked me about 

2022 Tudor Beasts Lion of England 2 oz Silver Bullion Coin

A long awaited delivery of these arrived today:

https://www.chards.co.uk/2022-2oz-silver-tudor-beasts-lion-of-england-bullion-coin/16180

Price Comparison Against Other UK Bullion Dealers - Updated at 18-Mar-2022 07:08

Qty	Chards (Excl Delivery)	Chards (Inc Delivery)	B*	G*	BB	SP	GER
5	£61.42	£62.62	£68.52	£67.32	£66.58	£65.05	£66.60
10	£60.52	£61.12	£67.56	£66.72	£65.98	£64.55	£63.96
25	£59.02	£59.46	£66.00	£66.36	£65.08	£64.04	£60.24

🙂

 

How many in a tube?🥳

[LawrenceChard]

1 minute ago, James32 said:

How many in a tube?🥳

Buy enough, and I'm sure we could make a tube big enough to fit them!

😎

[LawrenceChard]

11 hours ago, CoinBug said:

I thought Chards had been in this business since 1964. Surely by now you would have thought that they would have built up some kind of relationship with The Royal Mint direct. Why on earth would a British company which has been trading for nearly 60 years need to buy British gold from overseas.

You thought correctly.

I / we have been in the numismatic business since before 1964.

The Royal Mint didn't start producing and marketing collector coins until 1970, just ahead of decimalisation, so there would have been nobody at the mint to build a relationship with.

Even then, they decided that they would market direct, so there was still no way to start a relationship with them. This may have been partially because there was no established market in the UK for new issue coins.

In the run up to decimalisation, and before the RM started, we were active in sourcing mint bags of new coins, and making up our own annual coin sets. If you come across any minty UK coin sets from about 1965 to 1967, there is a good chance (about 50%) they were ones we assembled and sold.

I don't remember which year the RM started offering to supply UK dealers direct, but guess it might have been in the 1980s.

We didn't set up our first web site until 1998, so until then, there was probably no way we could have generated sufficient sales volume to make it worthwhile us taking direct new issue coins and sets from the RM. At that time, we were the only coin dealer in the UK to have a website, and also one of the first in the world.

In 1999, I decided it was time we joined in, influenced by the expected popularity of Princess Diana, and her memorial crown. From memory, I think we bought 500 of the BU specimen pack crowns direct from the Mint. These were £9.95 from the RM, but I think we discounted them to £8.95 https://24carat.co.uk/frame.php?url=princessdianacrown.php. 

Just before 1st January 2000, when investment gold became exempt from VAT in the UK and EU, we launched two new websites https://goldsovereigns.co.uk/ and https://taxfreegold.co.uk/, which helped to expand the UK market for gold bullion. These three heritage websites still exist, but we no longer actively maintain or update them.

In 2000, when the RM restarted production of bullion sovereigns, we contracted with them for a direct supply. We were expected to buy a minimum of 5,000 of their bullion sovereigns in a 6 week period in order to qualify for their optimum pricing. We failed to achieve this, and had to pay a surcharge on the ones we had taken. As we made little or no profit on the deal, we stopped, and did not try again for some years, 2005 I think.

We also found that it was for many years cheaper, better, and easier, to buy proof sovereigns, and most other collectable new issues from international distributors, than direct from the Mint. 

For most of the above time, we pitched our prices at a discount compared with the Royal Mint, and I strongly suspect they did not like this, although most of our customers did.

They also threatened legal action against us when I dared to point out that our Sovereign Mintmark Sets https://goldsovereigns.co.uk/mintmarksets.php were cheaper, and better than their sets. It is difficult to maintain a good trading relationship with a company who threatens without justification, to sue you for defamation. 

Despite the above, we did buy bullion sovereigns from them, from 2005 I think, although during the Financial / Credit / Banking / Sub-Prime crises of 2008/9, it was very difficult to get supplies because big American, and possibly German distributors hoovered up most of their production.

I also can't remember when we stopped dealing with them, but think it may have been January 2015. They gave us no notice and no reason. It is difficult to maintain a successful trading relationship with a state owned monopoly supplier who treats its customers in such a manner.

Your last sentence (question?) "Why on earth would a British company which has been trading for nearly 60 years need to buy British gold from overseas." was quite a good one. I would be delighted if you would ask the Royal Mint, and extremely surprised if you received an answer.

😎

 

Edited March 18, 2022 by LawrenceChard
typos

[Bruce06]

3 hours ago, LawrenceChard said:

You thought correctly.

I / we have been in the numismatic business since before 1964.

The Royal Mint didn't start producing and marketing collector coins until 1970, just ahead of decimalisation, so there would have been nobody at the mint to build a relationship with.

Even then, they decided that they would market direct, so there was still no way to start a relationship with them. This may have been partially because there was no established market in the UK for new issue coins.

In the run up to decimalisation, and before the RM started, we were active in sourcing mint bags of new coins, and making up our own annual coin sets. If you come across any minty UK coin sets from about 1965 to 1967, there is a good chance (about 50%) they were ones we assembled and sold.

I don't remember which year the RM started offering to supply UK dealers direct, but guess it might have been in the 1980s.

We didn't set up our first web site until 1998, so until then, there was probably no way we could have generated sufficient sales volume to make it worthwhile us taking direct new issue coins and sets from the RM. At that time, we were the only coin dealer in the UK to have a website, and also one of the first in the world.

In 1999, I decided it was time we joined in, influenced by the expected popularity of Princess Diana, and her memorial crown. From memory, I think we bought 500 of the BU specimen pack crowns direct from the Mint. These were £9.95 from the RM, but I think we discounted them to £8.95 https://24carat.co.uk/frame.php?url=princessdianacrown.php. 

Just before 1st January 2000, when investment gold became exempt from VAT in the UK and EU, we launched two new websites https://goldsovereigns.co.uk/ and https://taxfreegold.co.uk/, which helped to expand the UK market for gold bullion. These three heritage websites still exist, but we no longer actively maintain or update them.

In 2000, when the RM restarted production of bullion sovereigns, we contracted with them for a direct supply. We were expected to buy a minimum of 5,000 of their bullion sovereigns in a 6 week period in order to qualify for their optimum pricing. We failed to achieve this, and had to pay a surcharge on the ones we had taken. As we made little or no profit on the deal, we stopped, and did not try again for some years, 2005 I think.

We also found that it was for many years cheaper, better, and easier, to buy proof sovereigns, and most other collectable new issues from international distributors, than direct from the Mint. 

For most of the above time, we pitched our prices at a discount compared with the Royal Mint, and I strongly suspect they did not like this, although most of our customers did.

They also threatened legal action against us when I dared to point out that our Sovereign Mintmark Sets https://goldsovereigns.co.uk/mintmarksets.php were cheaper, and better than their sets. It is difficult to maintain a good trading relationship with a company who threatens without justification, to sue you for defamation. 

Despite the above, we did buy bullion sovereigns from them, from 2005 I think, although during the Financial / Credit / Banking / Sub-Prime crises of 2008/9, it was very difficult to get supplies because big American, and possibly German distributors hoovered up most of their production.

I also can't remember when we stopped dealing with them, but think it may have been January 2015. They gave us no notice and no reason. It is difficult to maintain a successful trading relationship with a state owned monopoly supplier who treats its customers in such a manner.

Your last sentence (question?) "Why on earth would a British company which has been trading for nearly 60 years need to buy British gold from overseas." was quite a good one. I would be delighted if you would ask the Royal Mint, and extremely surprised if you received an answer.

😎

 

Thanks Lawrence for insights of how the industry is operating.

[LawrenceChard]

On 18/03/2022 at 15:51, SilverJacks said:

Just about to go out but thought I'd post this first. Just got an email from Chard's stating my coin is with their warehouse team and a link provided option to choose my dispatch date next week. Nice service.

Not once did I wonder where my coin was and what was the hold up 🤥

All jokes aside, Chard's are top draw. 

What's wrong with my jokes?

I get requests!

 😎

[dikefalos]

12 minutes ago, LawrenceChard said:

What's wrong with my jokes?

I get requests!

 😎

Stop bullying us legasthenics, i'm sensible

🤣

 

[terakris]

That will do nicely...

[MancunianStacker]

I’m thinking of selling mine 🤔 Any interest and I’ll do a sales post 

Edited March 21, 2022 by MancunianStacker

[Paul]

2 hours ago, terakris said:

That will do nicely...

first one ive seen graded - congrats ! 

[MJCOIN]

1 hour ago, MancunianStacker said:

I’m thinking of selling mine 🤔 Any interest and I’ll do a sales post 

How much, out of interest?

[MancunianStacker]

1 hour ago, MJCOIN said:

How much, out of interest?

Just sold something else this evening so I’m keeping for now. Seems like they are up for sale on eBay for less than I paid a dealer so 🤷‍♂️ 

[CadmiumGreen]

Finally received mine after order mix-up with The Royal Mint…

[coinory]

Great news came in yesterday! graded MS 70 Matte, Cant wait for my baby to come back home  

[FlorinCollector]

56 minutes ago, coinory said:

Great news came in yesterday! graded MS 70 Matte, Cant wait for my baby to come back home  

Same here! Congrats!

[Foster88]

As of 7/4/2022 UK date. (7th April 2022).

There has only been 19 sold on eBay. I appreciate this is just one selling and buying platform but I think it says something for the SOTD 6th Feb 2022 sovereign.

Hold.

[coinory]

3 hours ago, FlorinCollector said:

Same here! Congrats!

Congrats  

[Paul]

Spotted on bookface

Sand world Weymouth 2022 

it's got a better chance of grading as a 70 than buying from mint direct I think

[Timberwolf]

Hello All, 

I ordered my SOTD sovereign from Chards on January 26th. I'm very excited to receive it, though getting a bit dissapointed with the wait. I had many ETA emails from chards, the latest being April 18th, though last night had another update, see attached image.

Note, I'm not complaining at Chards, In fact I think their proactive updates every few weeks to me are great, as I've never had to chase them. I also trust them fully, this is not the issue.

I just don't understand why Royal Mint haven't sent Chards their allocation of SOTD coins by now? Being a small run of 1200 coins especially.

 

 

 

[Mtaybar]

1 hour ago, Timberwolf said:

Hello All, 

I ordered my SOTD sovereign from Chards on January 26th. I'm very excited to receive it, though getting a bit dissapointed with the wait. I had many ETA emails from chards, the latest being April 18th, though last night had another update, see attached image.

Note, I'm not complaining at Chards, In fact I think their proactive updates every few weeks to me are great, as I've never had to chase them. I also trust them fully, this is not the issue.

I just don't understand why Royal Mint haven't sent Chards their allocation of SOTD coins by now? Being a small run of 1200 coins especially.

 

 

 

I think they source from all over the place and dont get stock directly from the mint. I've heard them mention here before that they sometimes have to wait for stock to arrive from abroad. @ChardsCoinandBullionDealerand @LawrenceChard could probably put me right if I'm wrong.