Spot price

[chrisdobb]

Forgive my ignorance but I am looking for a bit of clarification.

I have been collecting, Sovereigns and Brittanias for some short time but, as yet, have not sold any, nor do I plan to.

My question is; is it reasonable to expect to get spot when I, or more likely, my family come to sell any or all of them.

Disregarding other selling options it is highly likely my family will try to sell back to the dealers from which these coins were bought.

For clarity all coins are recorded and are with original invoices etc. most are bullion but there are a acouple of proofs and SOTD, I am not refering to these items, only bullion.

If not spot how much below would be expected.

Thanks all.

[vicamy]

If selling back to dealers, typically it is 2-3% below spot. 

[LawrenceChard]

1 hour ago, chrisdobb said:

Forgive my ignorance but I am looking for a bit of clarification.

I have been collecting, Sovereigns and Brittanias for some short time but, as yet, have not sold any, nor do I plan to.

My question is; is it reasonable to expect to get spot when I, or more likely, my family come to sell any or all of them.

Disregarding other selling options it is highly likely my family will try to sell back to the dealers from which these coins were bought.

For clarity all coins are recorded and are with original invoices etc. most are bullion but there are a acouple of proofs and SOTD, I am not refering to these items, only bullion.

If not spot how much below would be expected.

Thanks all.

 

1 hour ago, vicamy said:

If selling back to dealers, typically it is 2-3% below spot. 

It sounds like @ChardsCoinandBullionDealer are paying too much!

😎

[chrisdobb]

1 hour ago, LawrenceChard said:

 

It sounds like @ChardsCoinandBullionDealer are paying too much!

😎

Really!!

[modofantasma]

3 hours ago, chrisdobb said:

My question is; is it reasonable to expect to get spot when I, or more likely, my family come to sell any or all of them.

You can often visit dealers websites and look at a section usually something along the lines of 'sell' or 'sell to us' some quote a price that they will buy at that moment. Assuming your coins are what you say and not battered or dinged up. 

For common coins like a sovereign or the usual sizes of Brits this is quite straightforward. If you've got a 3/8ths of a lb gold proof Homer Simpson enamelled Ltd edition whatever it would probably require phoning them but you could always call a few and ask for a quote. 

You might need to consider postage costs too but I think Hgm send out an envelope for you did I read? 

[LawrenceChard]

2 hours ago, chrisdobb said:

Really!!

Yes, we typically pay spot for the most popular bullion coins, only dipping this to 99%, 98.55, or less if there is a sudden or large imbalance of sales to us.

Earlier this year we were paying 100.5% to 101% for gold sovereigns.

I don't understand why investors would sell quantities at 97%, which I hear is the normal buying price at a number of "competitors".

We do differentiate between Britannias and Krugerrands, and other one ounce gold coins.

To be perfectly fair, even 97% is quite good compared with what many jewellers and pawnbrokers offer, and much more than most sellers would get using auction houses.

😎

[chrisdobb]

Thanks Lawrence, I will mark you as top of my list.

regards and thanks to all

Chris