Dealers Buying or Buy-Back Prices for Gold Bullion Coins

[LawrenceChard]

I have seen numerous discussions on TSF which have mentioned buying or buyback prices of the RM and of various dealers.

I just looked for a TSF Topic / Thread about buying prices, and failed to find one which was specific, which is why I had to create one.

I have just seen an interesting internal message which reads:

"A new customer says he is very happy to have finally found us and wishes he found us sooner as he has sold a lot of gold Brits at 97% to BBP and Gold.co.uk, they will only fix the prices for him at 2 points throughout the day, their prices are terrible and the compliance became stupid. He also said he did not come across us online when searching on google."

Part of my reply was:

"The reason he did not find us on Google, is that BBP, gold.co.uk, the RM, and others, pay Google to promote them."

I posted this under "Gold", but similar considerations also apply to silver, platinum, and probably collectable coins.

I also make a distinction between "buying prices" and "buyback prices". Some companies only buy back coins and bullion they sold, and in some cases only if it is in their own storage, whereas @ChardsCoinandBullionDealer prides itself on being a REAL dealer. We have always bought and sold coins (and bullion), not merely "bought-back". 

I am aware that many TSF members would probably pay slightly more than us for some bullion coins, but often this is limited by funds, and many members would only buy in limited quantities.

Of course, we only buy in limited quantities, but it is a long time since we hit any of these limits.

We receive similar feedback regularly about our selling prices being better than people have previously paid, and wishing they had found us sooner, but not often about buying prices.

While it is frustrating to know that we and the individuals have both lost out to competitors (and search engines), it is gratifying to know that we end up as their go-to choice in the long term.

I / we have always taken a long term approach to our business.

Yes, we could often have made more money more quickly by various means, but we have preferred to stick to the ethical and moral high ground, remain competitive, while making sufficient profit to still be around in the future.

These principles also apply to matters like counterfeit coins, sub-standard coins, overgrading, "free" postage, integrity, and more.

🙂

 

[chrisdobb]

Lawrence

For clarity would you be prepared to give ua your current buying price for good condition sovereigns.

 

[HelpingHands]

Well we have a bit of history on this subject.

 

[Gordy]

Might be relevant for you but not about buy back etc

A quick google search by typing in 'Chards Bullion' and hitting enter brings it up 4th down the list behind 3 ads for RM, BBP and gold-bank

so you aren't too hard to find

and this is different to what I normally type to find your site

1. I have Chards saved as a favourite so its easy to find.

2. If i can't be arsed to use the drop down on my open page I type 'Chards of Blackpool' but most people who don't really know you won't know to look for your site that way

So, it is quite easy to find without typing too much into the google search... 👍

[TeaTime]

Typing in 'Chards' on Bing brings up 3 other sites before an actual Chard address. That is really quite an eye-opener that the algorithm brings up sites with no relation to the search word. 

Typing in 'sell gold coins' and Chards doesn't appear at all ( i gave up after 4 pages).

Capitalism at it's finest 🙄

[LawrenceChard]

3 hours ago, chrisdobb said:

Lawrence

For clarity would you be prepared to give ua your current buying price for good condition sovereigns.

 

I think we reduced it from 100.5% or 101% for large quantities, to 100% about 10 days ago, for bullion sovereigns.

[chrisdobb]

Many thanks Lawrence

[Foster88]

3 hours ago, TeaTime said:

Typing in 'Chards' on Bing brings up 3 other sites before an actual Chard address. That is really quite an eye-opener that the algorithm brings up sites with no relation to the search word. 

Typing in 'sell gold coins' and Chards doesn't appear at all ( i gave up after 4 pages).

Capitalism at it's finest 🙄

 

2 hours ago, LawrenceChard said:

I think we reduced it from 100.5% or 101% for large quantities, to 100% about 10 days ago, for bullion sovereigns.

When I type ‘sell gold’ into Google I can see Chards on page 1 near the bottom but still on page 1.

I think this all depends on where you are in the country and where your IP address is and no I don’t live in Blackpool. 😂 It can also depend on if you have ‘local searches’ switched on and if you’ve visited a website before and how many times. As we all know, Google is always watching. 👀

Oh and @LawrenceChard I’m very disappointed that that isn’t your face as Lord Kitchener!! 😆 Good marketing though. That would grab my attention over ‘Cash for gold’, We buy any gold’ or ‘Goldilocks and the three bullion bears’ but then again I have a big interest in WW1 so that might be why.

 

[shaunm]

7 hours ago, chrisdobb said:

Lawrence

For clarity would you be prepared to give ua your current buying price for good condition sovereigns.

 

One of their customer service reps emailed it to me earlier today as I was trying to workout spread margins for sovereigns so they are open with it and will provide it if you ask them and their buy back rates.