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Looking to buy some gold


1moreoz

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Hi all new member looking for some advice. I have in the past bought some 1oz gold coins, I like the size and feel of the 1oz coins and just kind of stopped buying them after gold went over £1000 a oz. I was waiting for it to go back down and it never did.

Now I am looking to get back into gold. Looking to buy £20,000 worth and wondering what would be the best dealer to go to ? I had used atkinsons and chards before are they still my best bet ? Also should I email and ask for a better rate ? In the past I would just pick up a single coin at a time but wondering if I buy more should I look to get a better deal.

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Those are 2 reputable dealers yes. I've used both before but tend to go to Atkinson's more often.

Usually dealers show their quantity discounts on the websites. I don't expect you'd get a better rate by emailing them but I guess you could try.

You could also consider a cost averaging approach and buy over a period of months say 2 Oz at a time rather than all in one go to gain exposure to more price points should the price fall in the coming months.

It depends what you're buying and how many as to who is cheapest ... one dealer might be cheaper for a single coin the other might be cheaper for multiple. 👌🏽

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To these dealers £20k isn't such a big order so unlikely to see much discount.
You will need to choose between boring ( but generally cheaper ) Krugerrands vs more exotic coins that might get you a few quid benefit selling privately, but most dealers don't care too much about the origin of the coin just its weight and purity, so 24ct tends to gain a little over 22ct. You might be subjected to the money laundering third degree placing an order over £10k with some dealers though.
As others have said it might be smart to stage your purchases over several months to see if gold dips a bit.
I too keep waiting for gold to return to £1,000 per ounce but will this ever happen - I fear it will not but maybe £1300 - that would be nice if buying less so if selling.

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For my point of view, the 2022 sovereign given it is a variant/unique design would be my coin of choice if committing that kind of cash 

Atkinsons £367.11 / Chards £366.13 (@ 4.95% premium)

£20,000 / £366.13 = 54 sovereigns

I dont see any reason why these wont follow the same way as previous variant years 2002/2005/2012 and they will always attract a little extra premium when selling privately, if it is an extra +£10 per coin (conservative guess for easy maths) you can get when selling, there is +£540 added "bang for your buck"  you are getting for the same gold.  2022 will be the only year these are in plentiful supply, at a sub +5% buyers premium

Also given we have to appreciate the age of QEII, when she has past away in the years to come, there may be more demand/appeal for these unique Platinum Jubilee issue coins, longest reigning monarch, general market appreciation of really liking Noad's coin design etc 

Edited by Paul
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not to rub salt in the wounds but a few days ago there were over £27,000 worth of varying date sovs that you coud have picked up for under spot with the multiple discounts offered...

It does not matter how slowly you go so long as you do not stop.

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3 hours ago, 1moreoz said:

Hi all new member looking for some advice. I have in the past bought some 1oz gold coins, I like the size and feel of the 1oz coins and just kind of stopped buying them after gold went over £1000 a oz. I was waiting for it to go back down and it never did.

Now I am looking to get back into gold. Looking to buy £20,000 worth and wondering what would be the best dealer to go to ? I had used atkinsons and chards before are they still my best bet ? Also should I email and ask for a better rate ? In the past I would just pick up a single coin at a time but wondering if I buy more should I look to get a better deal.

You could go to, or back to, the one which gives the best advice, for example https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

Or you could try the dealer with the best prices:

Price Comparison Against Other UK Bullion Dealers - Updated at 04-Jun-2022 06:02

Qty Chards (Excl Delivery) Chards (Inc Delivery) B* G* A AB BB RM SP UKB
1 £1,538.31 £1,545.31 £1,585.00 £1,603.00 £1,546.14 £1,561.00 OOS £1,627.63 £1,557.00 £1,596.45
5 £1,537.56 £1,539.76 £1,582.00 £1,594.00 £1,540.54 £1,555.80 OOS £1,619.71 £1,553.88 £1,592.46
20 £1,535.34 £1,536.64 £1,576.00 £1,587.00 £1,537.34 £1,553.60 OOS £1,613.54 £1,549.21 £1,587.67
50 £1,534.60 £1,535.84 £1,573.00 £1,584.00 £1,537.04 £1,551.40 OOS £1,610.83 £1,546.10 £1,585.28
100 £1,530.90 £1,532.19 £1,571.00 £1,582.00 £1,533.53 £1,548.40 OOS £1,607.47 £1,542.98 £1,582.88
200 £1,528.67 £1,529.82 £1,571.00 £1,582.00 £1,533.53 £1,548.40 OOS £1,607.47 £1,542.98 £1,582.88

 

Or you could go for the dealer who has been around the longest: 

Or possibly pick a dealer who is good at spotting fakes:

Because there are many well-know dealers who don't seem to know or care how to spot fakes.

You could look for a dealer who makes things like premiums transparent, and even includes dealer comparisons in many major bullion products.

You could stick with one of the dealers you have used before. (I wouldn't recommend the other one) 😎

Better rates on quantities are already available to all.

 

Chards

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3 hours ago, Gordy said:

not to rub salt in the wounds but a few days ago there were over £27,000 worth of varying date sovs that you coud have picked up for under spot with the multiple discounts offered...

Please share !!!!

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1 hour ago, Goldfever20 said:

And what's your take on one of these please. Would this be a good coin to invest in? 

20220605_131908.jpg

Personally from direct experience, I would stay clear of marked up proofs.
I know it is tempting ( as I once was ) but I now know much better !!

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27 minutes ago, Pete said:

Personally from direct experience, I would stay clear of marked up proofs.
I know it is tempting ( as I once was ) but I now know much better !!

@Pete would you say the same applies to proof sovereigns?

Thanks for sharing your experience. 

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1 minute ago, Goldfever20 said:

@Pete would you say the same applies to proof sovereigns?

Thanks for sharing your experience. 

You need the right person, at the right time, at the right price to make sell proof sovereigns.

Sadly,that buyer may not be there when you want to raise cash quick.

Proofs, you may need to wait a day a week a month for the right person.

Proofs CAN be profitable,but common bullion will ALWAYS have a buying market, if the price is right 

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1 minute ago, SovereignBishop said:

Just did a quick search.

tavex: 55 2022 sovs £19,979 +£5 delivery 

Chards: 55 2022 sovs £20,137 +£19 delivery

so despite what is mentioned above as ‘the dealer with the best prices’ it pays to shop around.

 

Been a few members on here that have had some issues with Tavex though.  while my own experience with them have been positive cannot ignore that they sold marked coins, scratched coins and even a coin that was not as advertised to forum members and did not respond when tagged.  For that size of purchase I would be inclined to be influenced by more than just price.

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17 minutes ago, 1moreoz said:

Thank you everyone for the helpful advice. I will drop a few places a email tomorrow just to see what stock they have in 1oz coins and maybe hopefully snag a better deal.

I looked out my coins today, haven’t looked at them in a very long time but something about that 100gram bar I just love holding it 😂 

 

F2C92167-7D71-4CD2-A441-CAF3F6BE323A.jpeg.75adc4924af8a09b0a54a8d287cf17be.jpeg

Incredible!! What's the coin on the top left please? It looks a lil bigger than the other coins

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11 minutes ago, Orpster said:

Been a few members on here that have had some issues with Tavex though.  while my own experience with them have been positive cannot ignore that they sold marked coins, scratched coins and even a coin that was not as advertised to forum members and did not respond when tagged.  For that size of purchase I would be inclined to be influenced by more than just price.

Thats fair enough. If you can get any dealer to ensure that all the coins will be in perfect condition then please let me know which ones!

I have had good experiences myself.

I agree though I have seen some examples of poor customer service highlighted on this forum.

2 minutes ago, AuricGoldfinger said:

Who or what is Tavex, never heard of them. 

They are on the forum’s compare page. A European dealer who have just branched in to the uk.

 

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2 minutes ago, SovereignBishop said:

Thats fair enough. If you can get any dealer to ensure that all the coins will be in perfect condition then please let me know which ones!

I have had good experiences myself.

I agree though I have seen some examples of poor customer service highlighted on this forum.

They are on the forum’s compare page. A European dealer who have just branched in to the uk.

 

Also just to add, I think all those examples were in the same listing and were from a ‘best value’ bullion purchase. 

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31 minutes ago, SovereignBishop said:

Thats fair enough. If you can get any dealer to ensure that all the coins will be in perfect condition then please let me know which ones!

I have had good experiences myself.

 

Atkinsons and Britannia both offer a guarantee of at least good or better grade on best value Sovs, I have bought from both multiple times without issue over a number of years, even had the odd gem as well.

I don’t use Chards as I buy on my credit card (for the cash back of course ;)) but suspect they offer the same.

I would still buy from Tavex, was just disappointed they did not respond when tagged.  The examples were not from a best value listing they were from a Gillick listing and a 2022 BU listing.

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5 minutes ago, Orpster said:

Atkinsons and Britannia both offer a guarantee of at least good or better grade on best value Sovs, I have bought from both multiple times without issue over a number of years, even had the odd gem as well.

I don’t use Chards as I buy on my credit card (for the cash back of course ;)) but suspect they offer the same.

I would still buy from Tavex, was just disappointed they did not respond when tagged.  The examples were not from a best value listing they were from a Gillick listing and a 2022 BU listing.

In that case I stand corrected!

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19 minutes ago, Orpster said:

Atkinsons and Britannia both offer a guarantee of at least good or better grade on best value Sovs, I have bought from both multiple times without issue over a number of years, even had the odd gem as well.

I don’t use Chards as I buy on my credit card (for the cash back of course ;)) but suspect they offer the same.

I would still buy from Tavex, was just disappointed they did not respond when tagged.  The examples were not from a best value listing they were from a Gillick listing and a 2022 BU listing.

Have you got a link to this, I’m interested to see now and have yet to buy from tavex.

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