Any experience in selling to the Britannia Coin Company, Royal Wootton Bassett, UK

[ChrisUKproofs]

Greetings Team

I hope this isn't a controversial topic. Due to Covid, work has decreased dramatically and bills still need paying.

The appeal to me, of a company like Britannia, is that I can take several gold proofs and sets to them, they'll examine them and offer cash or bank transfer within an hour.

Much easier than trying to take detailed photos (with dust specs on capsules etc) and describing in detail each coin on an auction site, then posting and waiting to learn if the buyer is happy. Certainly better than risking Ebay, where an idiot buyer can open a capsule, handle the coin, put it back then demand his money back.

The drawback of selling to a dealer of course, is that I won't be offered as much as if I sold each item privately.

I've not used Britannia before. I rang them for a quote on a 2018 five-coin Sovereign set today. They'd pay £2,834.00. They'll pay up to £8,000 in cash on any one deal. Anything above would be via bank transfer to prevent money-laundering. I've always preferred dealing in cash when possible. 

Not sure I'm yet eligible to offer an item for sale on here yet?

All views, as always, very gratefully received. Has anyone dealt with Britannia or a similar company?

Wishing you all, far too late, a very Happy New Year of collecting.

 

[Bixley]

The BCC have a stand at the Midland Coin Fair every month. I have bought several coins from them and found them to be pukka. I have not sold anything to them but I did enquire if they would take a bullion Britannia if I needed the cash and they were agreeable. If you can get the price you want I don’t see any problem dealing with them. By the way, I have no connection with the company other than as a customer.

[James32]

I can find one for sale now at a dealer for £4495 which obviously includes a nice mark up.

so let's play devil's advocate and assume dealer makes £1k profit, that still leaves £661 on the table??

Might be worthwhile to you for handiness but personally I'd reach out to the big sovereign guys on here and seek advice first.

A few names that come to mind that are always dealing with sovereigns are @GoldDiggerDave @AndrewSL76 @matt1r @BackyardBullion

@Colnago sorry if I left any big sovereign collectors out 🙂

Edited January 12, 2022 by James32

[AndrewSL76]

Thanks @James32. I would probably suggest @1stsovereign who I have huge respect and time for as well as @TheGoldSovereign who has more knowledge than you could hope for.

Other than that, selling on here is good and you can build a reputation. Trust goes both ways, remember! The buyers have to be open and honest too!!

[BackyardBullion]

I would be more than happy to help facilitate a sale of these - have done so many times for new members. 

Dealers will get whatever price they can for a quick sale, they take the risk of holding the stock for a long time. 

The offer you got does not seem a great price compared with taking the time yourself to find the right buyer. 

Time is money, they are basically charging you for their time to find a buyer. 

[AndrewSL76]

Yep, @BackyardBullion can help build a reputation. He sold a load of 1oz gold coins for someone last year. You will get more than the dealers offer and his fees are very reasonable. Brings good business to the forum too and gives buyers confidence.

[kimchi]

I think you'd be absolutely bonkers to sell for that if they are good condition

[James32]

Just now, kimchi said:

I think you'd be absolutely bonkers to sell for that if they are good condition

Had a feeling  ( although have no experience with sovereigns until this year) there was more on the table.

[kimchi]

3 minutes ago, James32 said:

Had a feeling  ( although have no experience with sovereigns until this year) there was more on the table.

Sapphire Coronation privy. Add up the amount of gold, and they've offered a flat rate over the phone without even seeing them (of course they have)!

It's not an untypical offer from a dealer so no criticism there but...blimey!

I bet poor OP's inbox is overflowing!

 

[GoldDiggerDave]

Dose sound a little on the  cheap side for a 5 coin sovereign set @ £2,834.00

[richatthecroft]

They are offering +3.25% over spot

Do yourself a favour and at least try and sell them privately- quickest way would be to split the set- and try for at the very least +10% on the individual coins.

Big difference cash wise and at +10% they would still be a bargain at around £345 per Sovereign and you’ll easily get bigger premiums for the half/ Quarter and you could sell the presentation case separately on eBay- must be worth £50 minimum.

Jeez- there were only 748 of these 5 coin sets issued.

 

 

 

 

Edited January 12, 2022 by richatthecroft

[richatthecroft]

1 hour ago, ChrisUKproofs said:

Not sure I'm yet eligible to offer an item for sale on here yet?

 

That’s easily remedied:

 

[James32]

9 minutes ago, richatthecroft said:

They are offering +3.25% over spot

Do yourself a favour and at least try and sell them privately- quickest way would be to split the set- and try for at least +10% on the individual coins.

Big difference cash wise and at +10% they would still be a bargain at around £345 per Sovereign and you’ll easily get bigger premiums for the half/ Quarter and you could sell the presentation case separately on eBay- must be worth £50 minimum.

Jeez- there were only 748 of these 5 coin sets issued.

 

 

 

 

I kept trying to tag you too sir above but kept getting random names lol

[kimchi]

In mint condition this should sell as a set for £3500 easy.

[Gordy]

I'd have no issues with buying off a dealer but i'd never sell to one as they never give you what its worth, id look for a sale on here first before you accept that price