Selling gold

[1moreoz]

I am basically forced to sell my gold. The plan was to buy more but I’ve decided to buy a bigger house and now need to free up funds. So have a couple of questions. Ideally don’t want to sell my gold privately just because going down the dealer route is fast and easy. I seen atkinsons basically pay £1500 for the queens beast is this quite a bad price ? I am sure they were selling for closer to £2000 a while ago. I wouldn’t mind selling the queens beast privately and just the rest to a dealer ?

Also I plan to drop atkinsons, chards and hatton garden a email for price tomorrow. Is there any other recommended dealers I should email ?

[RDHC]

2 minutes ago, 1moreoz said:

I am basically forced to sell my gold. The plan was to buy more but I’ve decided to buy a bigger house and now need to free up funds. So have a couple of questions. Ideally don’t want to sell my gold privately just because going down the dealer route is fast and easy. I seen atkinsons basically pay £1500 for the queens beast is this quite a bad price ? I am sure they were selling for closer to £2000 a while ago. I wouldn’t mind selling the queens beast privately and just the rest to a dealer ?

Also I plan to drop atkinsons, chards and hatton garden a email for price tomorrow. Is there any other recommended dealers I should email ?

Why not sell on this forum? You will probably get better prices. I think you can rely on people's reputations as shown in their feed back, though you may need to establish your own credentials. I have bought a few times with great success but I haven't yet sold sold anything, so I would be in your position as regards reputation as a seller.

[Petra]

Better price on here, probably all sell within a day. Buyer pays postage. One maybe two trips to post office. Why would you lose money just to save a little presumed ‘hassle’?

[1moreoz]

I have slightly over 31oz could anyone make a rough guess what I would get on the forum vs a dealer ? 
 

[Petra]

All you need to do is see what others are selling on here and the prices. Only you know what you have for sale. 31oz of proof coins is very different to ordinary sovereigns etc.

[Rat]

4 minutes ago, 1moreoz said:

I have slightly over 31oz could anyone make a rough guess what I would get on the forum vs a dealer ? 
 

It depends on the coins but If you price them at just above spot (plus postage) you will be able to sell them easily and get more than a dealer would offer you. 

[1moreoz]

This is what I have, I tried to look for others that sold but this forum has a pay wall ? 

[Gordy]

whats a pay wall? 

[Gordy]

Fo peace of mind i would look to see what the dealers are offering you, look to see their selling prices for the same stuff and sell them on here for somewhere in between at the level you're happy with.

As long as they are cheaper than the dealer prices you might get rid of them quick, but it all depends on your happy price and what you are prepared to let them go for, dont rush into selling them to dealers...

[James32]

21 minutes ago, 1moreoz said:

This is what I have, I tried to look for others that sold but this forum has a pay wall ? 

Here's my opinion. 

Reach out to @BackyardBullion on here by private message. 

He will charge a fee and act as a intermediary, he will test the coins ( safely) and give buyers reassurance they are getting the geniune article. 

He will give you reassurance that you will get paid ( he won't post anything until you personally tell him that money has been received. 

You are likely ( even after deduction of his relatively small fee)you are going to end up with approx £1k upwards more money.

Can you walk away from such an amount? Or is time more important? If the latter then go dealer route, but pick the closest reputable dealer beside you,and this is a driving job ( you take everything in person) so it can be completed quickly. 

 

[pricha]

It would all depend on how quickly you need the money.  Hatton Gardens are extremely quick and hassle free.  Selling them privately on the forum will get you more money but be prepared for people wanting to haggle . 

25 minutes ago, 1moreoz said:

This is what I have, I tried to look for others that sold but this forum has a pay wall ? 

 

[1moreoz]

5 minutes ago, James32 said:

Here's my opinion. 

Reach out to @BackyardBullion on here by private message. 

He will charge a fee and act as a intermediary, he will test the coins ( safely) and give buyers reassurance they are getting the geniune article. 

He will give you reassurance that you will get paid ( he won't post anything until you personally tell him that money has been received. 

You are likely ( even after deduction of his relatively small fee)you are going to end up with approx £1k upwards more money.

Can you walk away from such an amount? Or is time more important? If the latter then go dealer route, but pick the closest reputable dealer beside you,and this is a driving job ( you take everything in person) so it can be completed quickly. 

 

No I would definitely say saving £1000 is not worth the hassle just thought the queens beast would of been worth more. I can’t see the sold section what does a queens beast normally go for privately ?

[James32]

48 minutes ago, 1moreoz said:

I have slightly over 31oz could anyone make a rough guess what I would get on the forum vs a dealer ? 
 

Dealer...31 x £1470 = £45,570

Forum 31 × £1550 average considering queen's beasts and generic bars/brits = £48,050

Only a guess and could potentially realise more on here.

[James32]

4 minutes ago, 1moreoz said:

No I would definitely say saving £1000 is not worth the hassle just thought the queens beast would of been worth more. I can’t see the sold section what does a queens beast normally go for privately ?

Probably a £1650 average across all coins 

[daca]

I would sell the bar and britannias to a dealer.

QB and oriental borders on the forum for recouping the premium.

 

Good luck with the sale.

Edited August 7, 2022 by daca

[1moreoz]

3 minutes ago, James32 said:

Dealer...31 x £1470 = £45,570

Forum 31 × £1550 average considering queen's beasts and generic bars/brits = £48,050

Only a guess and could potentially realise more on here.

I would be happy with £45k what would be a bad offer from a deader ? I didn’t know they payed spot when buying back.

[James32]

Just now, 1moreoz said:

I would be happy with £45k what would be a bad offer from a deader ? I didn’t know they payed spot when buying back.

I'm going to tag in @LawrenceChard

And I'm only guessing, but considering you have queens Beasts in the bundle I'd expect £45k minimum, hopefully a dealer really wants your collection and might even go a percent above spot.

[1moreoz]

1 minute ago, James32 said:

I'm going to tag in @LawrenceChard

And I'm only guessing, but considering you have queens Beasts in the bundle I'd expect £45k minimum, hopefully a dealer really wants your collection and might even go a percent above spot.

That’s good someone from chards on the forum, I’ve just emailed chards atkinsons and hatton garden metals 

[Piperscoins]

Myself,  I would try to sell on the forum.   Look on the buy sell section you will see lots of adds where the seller has postage at buyers choice eg they pay for full insurance or they take the chance of losing the coin.  Also put a date when items will be sent out that way you will be in control when you go to the Post Office. 

Ask @Paul he has sold big amounts quickly before.  

[LawrenceChard]

31 minutes ago, Gordy said:

whats a pay wall? 

Send me some money, and I'll tell you!

😎

[dicker]

Here we s what so would do.

(1) Pay for premium membership here - cheap at half the price!

(2) Price up each coin and create a single listing

(3) The forum pays more than dealers but it is price sensitive.  

(4) Because you have no feedback use an intermediary or be prepared to send a coin ahead of payment (only to trusted members with great feedback)

(5) Don’t, (really don’t) be tempted to use eBay to sell your coins. It might be ok but it’s expensive and it’s a den of thieves.  

(6) Be prepared to flex prices down if your initial estimates mean your coins don’t sell quickly.

(7) Post a good pic of each coin

Best Of luck

Dicker

[LawrenceChard]

17 minutes ago, James32 said:

Dealer...31 x £1470 = £45,570

Forum 31 × £1550 average considering queen's beasts and generic bars/brits = £48,050

Only a guess and could potentially realise more on here.

£48,500 / £45,570 = about 5.5% premium, which I think is optimistic considering that new gold bullion coins are readily available from dealers at 3% to 4% premium, and secondary market ones for less.

😎

[James32]

2 minutes ago, LawrenceChard said:

£48,500 / £45,570 = about 5.5% premium, which I think is optimistic considering that new gold bullion coins are readily available from dealers at 3% to 4% premium, and secondary market ones for less.

😎

When you factor in 11 x 1oz queens beasts and oriental britannias? 

No apology needed😂😂

Edited August 7, 2022 by James32

[dicker]

1 minute ago, LawrenceChard said:

£48,500 / £45,570 = about 5.5% premium, which I think is optimistic considering that new gold bullion coins are readily available from dealers at 3% to 4% premium, and secondary market ones for less.

😎

@LawrenceChard Is spot on here. 
 

I would be going for 1.5pct over spot on the readily available coins. Somewhat more on the (ever so slightly) harder to obtain coins like the QB lion.

Basically aim for a premium that sits midway between the dealer sell price and spot.

[LawrenceChard]

1 hour ago, 1moreoz said:

I am basically forced to sell my gold. The plan was to buy more but I’ve decided to buy a bigger house and now need to free up funds. So have a couple of questions. Ideally don’t want to sell my gold privately just because going down the dealer route is fast and easy. I seen atkinsons basically pay £1500 for the queens beast is this quite a bad price ? I am sure they were selling for closer to £2000 a while ago. I wouldn’t mind selling the queens beast privately and just the rest to a dealer ?

Also I plan to drop atkinsons, chards and hatton garden a email for price tomorrow. Is there any other recommended dealers I should email ?

What you need to know or ask, is what percentage discount or premium you are being offered.

I have previously heard that A and HGM mentioned about generally pay about 97% to 98% of spot.

I don't know @ChardsCoinandBullionDealer current buying prices, although there is usually some reliable information on the Chards website. My guess is 100% spot on most of the popular "ounce" gold bullion coins or sovereigns. Probably a touch less on bars, possibly more on some items in current high demand / low supply.

Blackpool is also a lot near to you than Birmingham or London.

Great fish and chips available nearby"

😎

28 minutes ago, pricha said:

It would all depend on how quickly you need the money.  Hatton Gardens are extremely quick and hassle free.  Selling them privately on the forum will get you more money but be prepared for people wanting to haggle . 

 

I'd be extremely quick and hassle free if I was only paying 97%!

😎

17 minutes ago, James32 said:

I'm going to tag in @LawrenceChard

And I'm only guessing, but considering you have queens Beasts in the bundle I'd expect £45k minimum, hopefully a dealer really wants your collection and might even go a percent above spot.

Thanks @James32, although I thought you would be hoovering them up!

😎