Huge price increase

[gkoogk]

Hi guys

  I was just browsing through Chards website and was astonished that a coin set i have has recently risen 300% (2017 6-Coin Gold Proof Britannia Set)...I know there is only 250 sets but has there been a fire and destroyed the other 249 or is it a misprint

[LawrenceChard]

1 hour ago, gkoogk said:

Hi guys

  I was just browsing through Chards website and was astonished that a coin set i have has recently risen 300% (2017 6-Coin Gold Proof Britannia Set)...I know there is only 250 sets but has there been a fire and destroyed the other 249 or is it a misprint

Juliana (Chard) will have been instrumental in the price revision.

She very carefully monitors a mix of auction results, dealer sales, and more, before revising. Even at that price, please note there are none in stock.

I suspect there are some dealers who show artificially low prices on some products when they are Out Of Stock, probably to make themselves look reasonably competitive, as spoilers for other dealers sales, or so they can point to their "asking" price when making a low offer!

I will tag @ChardsCoinandBullionDealer in, so the Team are aware.

😎

Edited July 1, 2022 by LawrenceChard

[Clockpuncher]

Its certainly an aspirational price!

Raw 2014 sets (ie the key year for Brits) trade for far less - eg £6500 +24% BP = £8060 at Sov Rarities auction 4.

2017 is not an in demand year so you'd expect it to trade more in line with other low demand 24k years (e.g. everything other than 14 and, to a smaller extent, 16). Auction results in the region of £3500-4500 would be my expectation for a set like and, and I wouldn't be surprised to see potentially lower in current market.

[LawrenceChard]

2 hours ago, gkoogk said:

Hi guys

  I was just browsing through Chards website and was astonished that a coin set i have has recently risen 300% (2017 6-Coin Gold Proof Britannia Set)...I know there is only 250 sets but has there been a fire and destroyed the other 249 or is it a misprint

 

1 hour ago, LawrenceChard said:

Juliana (Chard) will have been instrumental in the price revision.

She very carefully monitors a mix of auction results, dealer sales, and more, before revising. Even at that price, please note there are none in stock.

I suspect there are some dealers who show artificially low prices on some products when they are Out Of Stock, probably to make themselves look reasonably competitive, as spoilers for other dealers sales, or so they can point to their "asking" price when making a low offer!

I will tag @ChardsCoinandBullionDealer in, so the Team are aware.

😎

 

51 minutes ago, Clockpuncher said:

Its certainly an aspirational price!

Raw 2014 sets (ie the key year for Brits) trade for far less - eg £6500 +24% BP = £8060 at Sov Rarities auction 4.

2017 is not an in demand year so you'd expect it to trade more in line with other low demand 24k years (e.g. everything other than 14 and, to a smaller extent, 16). Auction results in the region of £3500-4500 would be my expectation for a set like and, and I wouldn't be surprised to see potentially lower in current market.

As it happens, I know that @ChardsCoinandBullionDealer has just revised some of it bullion gold Britannia prices down a touch, although this was not mentioned on its recent mailshot.

For most of the past 2+ years, supply has not been able to keep up with demand, for most gold and silver bullion coins. Only in the last few months has this been easing slightly.

For Chards, this has been aided by the resumption of direct supplies from the Royal Mint. 

Because of Covid supply chain problems, coupled with other factors such as Brexit with its increase in paperwork for export and import, most bullion premiums have tended to increase over the two year period. Now there are signs that they are easing slightly. Although mints are still having problems sourcing enough blanks or bulllion in bar form, it has recently become easier to maintain stock levels because of faster replenishment. 

For two years, it would have been silly to reduce premiums on products of which you could not obtain sufficient supplies in gold time to meet demand. Recently Chards have tweaked downwards the premium on some of the most popular bullion coins, gold Britannias, sovereigns, and even double sovereigns. Expect more price action in the coming weeks and months.

Silver blanks and large bars are still in relatively short supply, but there are some signs that this may be easing slightly, although with recent increases in the Gold:Silver ratio, making silver relatively cheaper, I still expect monthly allocations to sell out before or shortly after they arrive in stock. 

You read it here first!

😎

[gkoogk]

I am very pleased if it is the right price...would seriously think of selling my set which i actually bought from chards and has been in the cabinet ever since lol

[sixgun]

11 hours ago, Clockpuncher said:

Its certainly an aspirational price!

It is only a matter of time even for this castigated Britannia design. The only problem is everything will be a lot more expensive in GBP by then.