Newbie questions re organising gold coins

[GrayMan]

Hi,

I've just recieve my first 2 coins from the Royal Mint.

I have some newbie questions re organising and documenting them.

Inside the postal cardboard envelope, along with a paper invoice, there were 2 smaller cardboard boxes and inside each was a gold coin in a plastic case.

Do you keep the small cardboard box that the coin comes in? There is a sticker with some number on it along with a date. I'm not sure if this will be of any use when I come to selling?
And for the invoice, do you keep an electronic copy as well / how do you remember which invoice goes with which coin? Are these used when selling coins or aren't gold dealers bothered?

For bullion coins, does it matter if the coins are stored in an air tight case or not when it comes to retaining their price?

I'd also appreciate recommendations for plastic coin tubes that can be used to store 1 oz Britannia / gold soverign coins that are in Royal Mint plastic coin cases.
Do the Royal Mint or one of the bigger UK gold dealers sell these? 

Thank you 

[modofantasma]

5 hours ago, GrayMan said:

Are these used when selling coins or aren't gold dealers bothered?

I'll start you off.

If we're talking bullion...

Buyers don't care what you paid or where it came from if the coin is what it is meant to be. You'll get the market rate at that time. Whether you paid £1000 or £2000 for a 1 Oz Brit but want to sell today at £1500 it will sell.

5 hours ago, GrayMan said:

For bullion coins, does it matter if the coins are stored in an air tight case or not when it comes to retaining their price?

No but... On the 2nd hand market a buyer would likely choose the best condition coin if there were multiple available at the same price. Some might pay a bit more if the coin is in fancy packaging some might not. If you're handling them a lot or carrying them around everywhere it might cause some marks. My coins are sat in a vault so unless the vault starts moving they shouldn't be rattling about 

 

5 hours ago, GrayMan said:

Do the Royal Mint or one of the bigger UK gold dealers sell these

If you want your capsules in a tube measure the outer diameter of the capsule and then buy a tube with appropriate inner diameter eg I've some capsules for sovs that are about 30mm and they go nicely in tubes sold as 33mm. I found ones I liked on eBay.

[Paul]

Most of my gold is stored in these 

https://www.coingallery.co.uk/quadrum-capsules-36-c.asp

If you're dropping £1500 on a 1oz gold, adding 75p to make it look nice and protect  is a no brainer for me 

You can also gets these in different mm sizes so a sovereign can sit alongside a Krugerrand 

Here's mr-deads 

 

[chrisdobb]

My coins are all in airtite capsules, each capsule has a small sticker on it and this shows a number, this number is duplicated on the invoice that came with the coin, and this invoice is scanned and filed as a PDF.

This way I can keep a detailed excel sheet recording the ID number of each coin together with the spot price when I bought it, the price I paid and the current price, against spot, I just need to enter the spot price as it changes I can then see my +/- at a glance, works for me.

[LawrenceChard]

On 18/06/2022 at 01:01, GrayMan said:

Hi,

I've just recieve my first 2 coins from the Royal Mint.

I have some newbie questions re organising and documenting them.

Inside the postal cardboard envelope, along with a paper invoice, there were 2 smaller cardboard boxes and inside each was a gold coin in a plastic case.

Do you keep the small cardboard box that the coin comes in? There is a sticker with some number on it along with a date. I'm not sure if this will be of any use when I come to selling?
And for the invoice, do you keep an electronic copy as well / how do you remember which invoice goes with which coin? Are these used when selling coins or aren't gold dealers bothered?

For bullion coins, does it matter if the coins are stored in an air tight case or not when it comes to retaining their price?

I'd also appreciate recommendations for plastic coin tubes that can be used to store 1 oz Britannia / gold soverign coins that are in Royal Mint plastic coin cases.
Do the Royal Mint or one of the bigger UK gold dealers sell these? 

Thank you 

"I've just recieve my first 2 coins from the Royal Mint."

I'm surprised nobody has yet told you that you could have sourced them at a better price from someone on TSF, or a well-known Coin & Bullion dealer whose name begins with "C".

That would answer a newbie question which you have not even asked.

You didn't say what these first two coins were, which might be relevant and help people give more informed opinions.

If they were bullion coins, see above, but if they something more special like one or two ounce gold proof Una and the Lions, then...

... you probably know something, or someone, that we all want to know.

Actually, as long as you don't do what a recent @ChardsCoinandBullionDealer customer did with a gold proof fifty pence...

... took it out of the capsule, put fingerprints all over both sides, and also at least one scratch on each side; now wants to sell it!

😎 😒

Edited June 19, 2022 by LawrenceChard

[chrisdobb]

When I bought my first coins, from a well known northern UK dealer, I was extremely nervous regarding the whole business.

It seemed a lot of money to be buying something which was alien to me and how did i know I would be safe.

Now after much research and some time buying, not yet selling, I am very happy to buy online but I would only do this from well recognised dealers here in the UK.

This gives me the reassurance I need to know my coins are genuine, I have the spot price to work from and after that I leave it to the Gods.

Good luck with your collection.

[dicker]

14 minutes ago, LawrenceChard said:

 

Actually, as long as you don't do what a recent @ChardsCoinandBullionDealer customer did with a gold proof fifty pence...

... took it out of the capsule, put fingerprints all over both sides, and also at least one scratch on each side; now wants to sell it!

😎 😒

I suspect you probably get a fair few handled proofs coming through the shop door…. eBay is full of them.
 

 

[GoldDiggerDave]

@GrayMan did you just buy bullion or RM “historic” sovereigns? 
 

In terms of storage, plastic capsules are good for the better quality coins you have, you can store in tubes like you mentioned also a case is good. 

cheers 

[LawrenceChard]

45 minutes ago, dicker said:

I suspect you probably get a fair few handled proofs coming through the shop door…. eBay is full of them.
 

Too many, but then one a year would be too many.

In other cases, owners have never even opened the boxes.

I have thought before that perhaps we should add an idiot-slip with every proof coin. "We strongly advise you not to remove the coin from the capsule, as fingerprints, dust, scuffs, scratches, or edge knocks will reduce it's appeal, and future value", but would doing this insult the vast majority of our customers?

I will tag @ChardsCoinandBullionDealer in to this to save me posting the link.

😎

[James32]

4 hours ago, Paul said:

Most of my gold is stored in these 

https://www.coingallery.co.uk/quadrum-capsules-36-c.asp

If you're dropping £1500 on a 1oz gold, adding 75p to make it look nice and protect  is a no brainer for me 

You can also gets these in different mm sizes so a sovereign can sit alongside a Krugerrand 

Here's mr-deads 

 

Mum always said it's the quiet ones that are worth watching, today it has finally clicked 🤣🤣 stunning 😍 

[Paul]

3 minutes ago, James32 said:

Mum always said it's the quiet ones that are worth watching, today it has finally clicked 🤣🤣 stunning 😍 

Not mine James - its from Mr-Deads stack who doesnt seem to be around here so much now 

His Peli case of (x9) 1kg bars is the stuff of dreams 

[James32]

6 minutes ago, Paul said:

Not mine James - its from Mr-Deads stack who doesnt seem to be around here so much now 

His Peli case of (x9) 1kg bars is the stuff of dreams 

Ahh I see ( yours is still very impressive) 

That's mental and very impressive, can't say I've ever had the pleasure of speaking to @mr-dead probably on some remote island which he now owns😂

[Paul]

2 minutes ago, James32 said:

Ahh I see ( yours is still very impressive) 

That's mental and very impressive, can't say I've ever had the pleasure of speaking to @mr-dead probably on some remote island which he now owns😂

if i remember right he paid his house/mortgage off for his daughter with the sale of the 1kg gold bars  

[dicker]

1 hour ago, LawrenceChard said:

Too many, but then one a year would be too many.

In other cases, owners have never even opened the boxes.

I have thought before that perhaps we should add an idiot-slip with every proof coin. "We strongly advise you not to remove the coin from the capsule, as fingerprints, dust, scuffs, scratches, or edge knocks will reduce it's appeal, and future value", but would doing this insult the vast majority of our customers?

I will tag @ChardsCoinandBullionDealer in to this to save me posting the link.

😎

I think adding an “Idiot slip” or even putting it as a warning on the sales invoice would make sense.

I don’t think it would insult your customers who know what they are doing.  

[dicker]

28 minutes ago, James32 said:

Mum always said it's the quiet ones that are worth watching, today it has finally clicked 🤣🤣 stunning 😍 

There are a lot of people here who have serious collections / stacks and don’t publicise.

I had the pleasure of meeting a member with a really spectacular collection of high grade Victoria Sovereigns (not graded), collected over a long period. 

The member doesn’t post much about Sovereigns but was kind enough to reach out and offer a viewing to look at some errors that are not known in return for me bringing a laptop and my high def microscope and laptop so that he was more clearly able to view some of the errors.

[James32]

1 minute ago, dicker said:

There are a lot of people here who have serious collections / stacks and don’t publicise.

I had the pleasure of meeting a member with a really spectacular collection of high grade Victoria Sovereigns (not graded), collected over a long period. 

The member doesn’t post much about Sovereigns but was kind enough to reach out and offer a viewing to look at some errors that are not known in return for me bringing a laptop and my high def microscope and laptop so that he was more clearly able to view some of the errors.

Very true, it would be amazing although impossible to see a combined forum stack.

[GrayMan]

Thanks all for your replies and advice. They are regular bullion coins, not proof  (1 oz Britannia and 1 x soverign) 

[StackemHigh]

On 18/06/2022 at 14:01, James32 said:

Very true, it would be amazing although impossible to see a combined forum stack.

One of BYB group order you tube unboxings would be a great start.

[LawrenceChard]

On 18/06/2022 at 11:13, LawrenceChard said:

"I've just recieve my first 2 coins from the Royal Mint."

I'm surprised nobody has yet told you that you could have sourced them at a better price from someone on TSF, or a well-known Coin & Bullion dealer whose name begins with "C".

That would answer a newbie question which you have not even asked.

You didn't say what these first two coins were, which might be relevant and help people give more informed opinions.

If they were bullion coins, see above, but if they something more special like one or two ounce gold proof Una and the Lions, then...

... you probably know something, or someone, that we all want to know.

Actually, as long as you don't do what a recent @ChardsCoinandBullionDealer customer did with a gold proof fifty pence...

... took it out of the capsule, put fingerprints all over both sides, and also at least one scratch on each side; now wants to sell it!

😎 😒

As mentioned: