Selling gold coins - business in Farringdon area?

[JamesMaher]

Hi all, new to this forum so please excuse any faux pas.

Many years ago (10 or so) I inherited a number of gold coins from my father, I sold a few via a business located somewhere near Farringdon (London, UK, hoping I am on a UK forums?!). It was highly recommended and indeed a pleasure to deal with. I want to sell a few more now, but can't for the life of me remember the name or exact location (somewhere near Saffron Hill/Clerkenwell Road if I recall)?

Does anyone know who this might be (and if they're still around), or failing that recommendations for a good business to deal with (don't really want to sell by post!)

Thanks

 

James

[ChrisSilver]

4 hours ago, JamesMaher said:

hoping I am on a UK forums

TSF is a worldwide precious metals forums with members from all over the world. There are a lot of UK members though  

Many dealers will offer a buying service, you can check the dealers listed in the Dealer Directory

I think Hatton Garden Metals (@HGM) may be near to the area you mentioned? 

You may also wish to list your items for sale on the forum, in order to try to achieve a higher price. Please however make sure you have read the applicable Quickstart guide to trading as it contains useful and important information. 

UK QuickStart Guide
EU QuickStart Guide
USA & Canada QuickStart Guide

 

[vicamy]

Within that area most jewellery shops and dealers are located on a street called Hatton Garden, and streets adjacent to it. Most shops over there buy in precious metals, but names like Hatton Garden Metals, Baird & Co., Presman etc more known to people. If it is near to Saffron Hill, it is likely to be Hatton Garden Metals. It is on the St Cross Street, between Saffron Hill and Hatton Garden. 

Most dealers or jewellery shops over there only offer below spot price when they buy in, so you will get better deal here if listed on the forum. If you don’t like selling through post, there are a few members based in London. Collect in person is a choice if you would consider. 

[GBStacking]

Hatton Garden Metals is probably closest to Farringdon Street, ATS is only a short walk away next to the Savoy hotel as well. I haven't personally dealt with Hatton Garden Metals, but ATS has a little chat option on their website which is manned by actual people, they have always been a pleasure to deal with when i have spoken with them (both in the store and online), so if you wanted to get an estimate of what they might buy your coins for, you can always ask them on there and save yourself a walk to get an initial quote.

As others have mentioned, there are lots of other options in that part of London, but when selling to businesses, unless it's got a decent level of numismatic value in the coin, you'll probably be offered spot at best for them. 

[JamesMaher]

Thanks all, that's helpful. I don't any of the coins have any particular numismatic value so I am happy with spot price, but will put them on here first to double check!

[LawrenceChard]

16 hours ago, JamesMaher said:

Hi all, new to this forum so please excuse any faux pas.

Many years ago (10 or so) I inherited a number of gold coins from my father, I sold a few via a business located somewhere near Farringdon (London, UK, hoping I am on a UK forums?!). It was highly recommended and indeed a pleasure to deal with. I want to sell a few more now, but can't for the life of me remember the name or exact location (somewhere near Saffron Hill/Clerkenwell Road if I recall)?

Does anyone know who this might be (and if they're still around), or failing that recommendations for a good business to deal with (don't really want to sell by post!)
Thanks

James

Selling gold by post got a bad reputation because of "Cash for Gold", and a large number of imitators, about 10 years ago. The UK version of it was copied from similar scam schemes in the USA.

Many of these used "personalities" in expensive, prime time TV adverts. Typically you could phone up and they would send you a pre-paid special delivery envelope. Mainly their offers were at rip-off prices, around 5% to 10% of the actual intrinsic value. I suspect some sellers were reluctant to spend money to have their goods returned. Some of the companies offered same day payment, but to get this, you had to sign and agree that you could not have your goods returned, effectively you could not reject the offer.

Most of the well known coin and bullion dealers around do not do any of the above, and do offer trustworthy reliable mail order buying services.

You can expect to get better prices for gold sovereigns from specialists (there is a well known one in Blackpool). I see from TSF posts that Hatton Garden dealers only pay about 97% or intrinsic for sovereigns, which is not a good price, unless the coins are ex-jewellery, scratched, damaged, or fake, in which case it's a great price. 

Many TSF members would pay above spot for sovereigns, and @ChardsCoinandBullionDealer currently pay 100% for acceptable bullion grade sovereigns.

🙂

[dikefalos]

43 minutes ago, LawrenceChard said:

Selling gold by post got a bad reputation because of "Cash for Gold", and a large number of imitators, about 10 years ago. The UK version of it was copied from similar scam schemes in the USA.

Many of these used "personalities" in expensive, prime time TV adverts. Typically you could phone up and they would send you a pre-paid special delivery envelope. Mainly their offers were at rip-off prices, around 5% to 10% of the actual intrinsic value. I suspect some sellers were reluctant to spend money to have their goods returned. Some of the companies offered same day payment, but to get this, you had to sign and agree that you could not have your goods returned, effectively you could not reject the offer.

Most of the well known coin and bullion dealers around do not do any of the above, and do offer trustworthy reliable mail order buying services.

You can expect to get better prices for gold sovereigns from specialists (there is a well known one in Blackpool). I see from TSF posts that Hatton Garden dealers only pay about 97% or intrinsic for sovereigns, which is not a good price, unless the coins are ex-jewellery, scratched, damaged, or fake, in which case it's a great price. 

Many TSF members would pay above spot for sovereigns, and @ChardsCoinandBullionDealer currently pay 100% for acceptable bullion grade sovereigns.

🙂

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I guess, you can get it below spot from him🤣🤣