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Advice for a novice?


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 As a newbie to this forum and coin collecting (I have introduced myself on the newcomers forum) I could do with a bit of advice, a bit of background, importantly, I am new at this and decided to invest a lump sum into gold, this has been refined (pun intended) into coins and mainly sovereigns, one or two gold Brittanias, I have been offered a set made up from individual coins, these are:

1 x 1994 1oz proof pf70 ultra cameo, 1 x 1994 1/2 oz proof pf69 ultra cameo, 1 x 1994 1/4 oz proof pf69 ultra cameo and 1 x 1994 1/10 oz proof pf67 ultra cameo

They are from a reputable dealer, my search finds very little availability and what is offered is at a higher price, nitty gritty, offered to me for sub £7000, I would really appreciate your thoughts and comments.

Thanks.

I try to buy gold with my head and silver with my heart, sometimes..........I just get it wrong!

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27 minutes ago, danieldorkins said:

 As a newbie to this forum and coin collecting (I have introduced myself on the newcomers forum) I could do with a bit of advice, a bit of background, importantly, I am new at this and decided to invest a lump sum into gold, this has been refined (pun intended) into coins and mainly sovereigns, one or two gold Brittanias, I have been offered a set made up from individual coins, these are:

1 x 1994 1oz proof pf70 ultra cameo, 1 x 1994 1/2 oz proof pf69 ultra cameo, 1 x 1994 1/4 oz proof pf69 ultra cameo and 1 x 1994 1/10 oz proof pf67 ultra cameo

They are from a reputable dealer, my search finds very little availability and what is offered is at a higher price, nitty gritty, offered to me for sub £7000, I would really appreciate your thoughts and comments.

Thanks.

Run... run as fast as you can ( in the opposite direction)

Not an expert on proofs but let's try and play devil's advocate 

1/10 pf67😬 £250 is being generous 

1/4 pf69.. not bad but £500 is being generous 

1/2oz pf69 not bad but £1000 is being generous in my humble opinion 

1oz pf70 now we're taking lol... £2500 is dreaming but I'm trying to be generous 

£4250 total, so Where's the rest going?????

I like to buy the pre-dip dip

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Just now, Orpster said:

Very generous I agree, I have a 1/2oz PF70 Britannia and I would happily part with that for £1k, and that one is the 2010 design which in my opinion is one of the best design years.  

Yeah I was just trying to bulk out the price as best as I could, when I first read the total I was shocked 😲 

I like to buy the pre-dip dip

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9 minutes ago, Dakaras said:

This of course is just my opinion but if looking just to drop 7k into gold I wouldn't go proofs or graded proofs. If I had 7k to spend today I would go.

3 X 1oz bullion coins at say £1550 each then put the other £1350 into sovereigns.

Gives you some that can be liquidated quickly should funds demand as well as some low premium larger coins to hold for the long term.

All that assuming it's pure investment. Ignore this if looking to collect, but collectable coins can take longer to get your cash out and are a much bigger premium.

Just my opinion of course 

 

Oh oh can I play - I would order 20 x 2022 sovereigns from Tavex  

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I would get..

1 x 1oz buffalo 

1 x 1oz Britannia 

1 x 1oz American eagle 

5 x 2022 bullion sovereigns 

Then spend the approximate £625 on a decent safe/scales/calipers/magnet and some whisky 😂

I like to buy the pre-dip dip

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5 hours ago, danieldorkins said:

 As a newbie to this forum and coin collecting (I have introduced myself on the newcomers forum) I could do with a bit of advice, a bit of background, importantly, I am new at this and decided to invest a lump sum into gold, this has been refined (pun intended) into coins and mainly sovereigns, one or two gold Brittanias, I have been offered a set made up from individual coins, these are:

a, 1 x 1994 1/2 oz proof pf69 ultra cameo, 1 x 1994 1/4 oz proof pf69 ultra cameo and 1 x 1994 1/10 oz proof pf67 ultra cameo

They are from a reputable dealer, my search finds very little availability and what is offered is at a higher price, nitty gritty, offered to me for sub £7000, I would really appreciate your thoughts and comments.

Thanks.

If you buy that set, you will be investing in 1.85 troy ounces of gold.

Current spot gold = £1453.48 
x 1.85 = £2688.94 intrinsic, and buying about £4,300 worth of plastic slab.

If you want to invest in gold, then invest in gold!

I always advise people to state who they are thinking of or have bought from. That way others can better advise you more easily.

😎

Chards

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Leave the proofs - it is worth looking at the bother @Paul had selling his proofs…unless you really know what you are doing.

Buy coins that are highly liquid - basically Sovs or Brits at sane pct’s over spot.  If you want to swap for proofs later you won’t have any problem doing this.

 

 

Not my circus, not my monkeys

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3 minutes ago, dicker said:

Leave the proofs - it is worth looking at the bother @Paul had selling his proofs…unless you really know what you are doing.

Buy coins that are highly liquid - basically Sovs or Brits at sane pct’s over spot.  If you want to swap for proofs later you won’t have any problem doing this.

Thanks for the mention, it was @Pete who wrote up his proofs experience when selling via a none auction route 

 

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Just now, dicker said:

Oops apologies!

I've still yet to experience, people not wanting my extra shiny, extra expensive proof. I'm sure it'll be part of the precious metals learning curve ! 

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1 minute ago, GoldDiggerDave said:

Load up on as many 2022 bullion sovereigns as you can comfortably afford to buy.  
 

How many of us wished we’d loaded up on  a few tubes of 2012 sovereigns back then.

X5 2022 sovs were this month's purchase for me now I'm royal mint debt free again 

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