Selling gold

[LawrenceChard]

14 minutes ago, James32 said:

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

No apology needed😂😂

I don't keep prices / premiums in my mind for everything.

It requires effort to merely keep up to date on a shortlist of fewer than 10 "best-sellers".

Of course, if I didn't spend so much time having fun on TSF, then I might have more time to do some real work!

😎

[dicker]

3 minutes ago, LawrenceChard said:

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"

😎

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

😎

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

😎

I suspect this Chards are the most competitive at the moment (but worth testing the theory!)

Be v v careful about selling to any dealers that are not well capitalised and genuinely reputable. I see “too good to be true” internet only dealers pop up which are clearly fraudulent.

 

best

Dicker

[RDHC]

2 minutes ago, dicker said:

 

Be v v careful about selling to any dealers that are not well capitalised and genuinely reputable. I see “too good to be true” internet only dealers pop up which are clearly fraudulent.

 

best

Dicker

Good point, I suspect, and rather worrying. 

[BackyardBullion]

@James32 thanks for the tag.

I would be more than happy to act as an intermediary for any sale here on the forum. My fee would be £25 per 1 oz coin. 

The issue you might have is that finding buyers for 31 oz of gold on this forum at a premium would be hard. 

The Queen's Beasts are harder to shift at higher premiums here - but you might end up with more than with dealers. If a dealer is offering you £1500 for a QB lion or griffin try listing it here for £1550 to £1600 - that might get a buyer and you would end up with more. 

The issue is that it will take time to get it all sold and even then no guarantee that you wont have to go to a dealer anyway for unsold stuff. 

Ultimately its how much work you want to put in. 

 

[LawrenceChard]

24 minutes ago, dicker said:

@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.

That's reassuring to know that I am going for spot, but I thought I was worth a premium of some kind!

😎

[James32]

10 minutes ago, LawrenceChard said:

I don't keep prices / premiums in my mind for everything.

It requires effort to merely keep up to date on a shortlist of fewer than 10 "best-sellers".

Of course, if I didn't spend so much time having fun on TSF, then I might have more time to do some real work!

😎

They call me rain man...🙋‍♂️

[LawrenceChard]

9 minutes ago, dicker said:

I suspect this Chards are the most competitive at the moment (but worth testing the theory!)

Be v v careful about selling to any dealers that are not well capitalised and genuinely reputable. I see “too good to be true” internet only dealers pop up which are clearly fraudulent.

best

Dicker

 

6 minutes ago, RDHC said:

Good point, I suspect, and rather worrying. 

I only mentioned Harvey Ross of Leeds to someone in a different TSF topic about a half hour ago:

Before he "did a runner", he used to get quite good mentions in the national and financial press!

😎

[dicker]

13 minutes ago, LawrenceChard said:

 

I only mentioned Harvey Ross of Leeds to someone in a different TSF topic about a half hour ago:

Before he "did a runner", he used to get quite good mentions in the national and financial press!

😎

Classic “Exit Scam” - now much easier and more frequent in the Crypto world.  

[LawrenceChard]

13 minutes ago, dicker said:

Classic “Exit Scam” - now much easier and more frequent in the Crypto world.  

Aren't  “Exit Scam” and "Crypto" synonyms?

😎

[dicker]

7 minutes ago, LawrenceChard said:

Aren't  “Exit Scam” and "Crypto" synonyms?

😎

Stating that tends to upset a lot of people! 

[LawrenceChard]

11 minutes ago, dicker said:

Stating that tends to upset a lot of people! 

The truth often hurts.

Before posting, I did a quick Google search, and found:

“The truth only hurts when you want to believe a lie.”
― Jennifer McVey

The truth, as they say, hurts. But they also say it sets you free.”
― Vironika Tugaleva, The Art of Talking to Yourself

“I’m too outspoken for most people, they think you’re rude if you tell the truth. ‘Punk’ was the only time I fitted in. Just one tiny sliver of time where it was acceptable to say what you thought.”
― Viv Albertine, Clothes, Clothes, Clothes. Music, Music, Music. Boys, Boys, Boys

“What hurts could most likely be the truth.”
― DON SANTO

“Keep it real, even if they don't want to hear the truth!”
― Stoney Rose

“The truth hurts. And much more than love, kindness, or any of these warm feelings you’re so fond of, truth is beauty, and the thing that will set you free.”
― A.D. Aliwat

“It happens all the time. People lie to themselves or their therapists because they’re ashamed or they don’t want to deal with the reality of their circumstances. Sometimes people are manipulative and twist the narrative to get something from the therapist: attention, empathy, love. Or the most likely reason: Sometimes the truth really hurts.”
― Jacqueline Simon Gunn, Let Love Rule

The Truth Sometimes Hurts
We scientists need help to communicate in a post-truth world

By Kate Marvel on August 8, 2018

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Edited August 7, 2022 by LawrenceChard

[dicker]

My wife says I am a “social hand grenade” at dinner parties….I try and behave myself on the forum!

[LawrenceChard]

1 minute ago, dicker said:

My wife says I am a “social hand grenade” at dinner parties….I try and behave myself on the forum!

Your dinner parties sound like good fun!

😎

[Spanishsilver]

5 hours ago, 1moreoz said:

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

I’m interested in the lion of England the griffin of Edward and one of the Yale of Beaufort plus the cast 100g bar once you come up with a price 

[1moreoz]

27 minutes ago, Spanishsilver said:

I’m interested in the lion of England the griffin of Edward and one of the Yale of Beaufort plus the cast 100g bar once you come up with a price 

I’ll wait and see what the dealers offer tomorrow and if I think there low on the queens beast I’ll maybe sell privately. 

[1moreoz]

What postage service do people use when selling coins privately and how much would it cost to send a 1 oz gold coin insured ?

[Petra]

1 minute ago, 1moreoz said:

What postage service do people use when selling coins privately and how much would it cost to send a 1 oz gold coin insured ?

Special delivery, £6-£7

[James32]

1 minute ago, 1moreoz said:

What postage service do people use when selling coins privately and how much would it cost to send a 1 oz gold coin insured ?

Special delivery only and make sure to include item value. 

1oz gold fully insured at say £1550 is £9.85

[James32]

Just now, Petra said:

Special delivery, £6-£7

Actually that's only special delivery insured to £500, a fair few make that mistake on here and don't fully insure a 1oz gold coin. 

Would that £2 savings be worth it if package went missing and you tried to make a claim?

[modofantasma]

8 minutes ago, Petra said:

Special delivery, £6-£7

Only up to £500. 

[modofantasma]

8 minutes ago, James32 said:

Special delivery only and make sure to include item value. 

1oz gold fully insured at say £1550 is £9.85

What James said.

The insurance brackets are upto £500, upto £1000 or upto £2500 

https://send.royalmail.com/send/youritem?country=GBR&format&weight=&weightUnit=G

 

There's a calculator here.

[Xander]

9 minutes ago, James32 said:

Actually that's only special delivery insured to £500, a fair few make that mistake on here and don't fully insure a 1oz gold coin. 

Would that £2 savings be worth it if package went missing and you tried to make a claim?

Add a Tenner on to the coin and say..." Free postage. "

[LawrenceChard]

1 hour ago, James32 said:

Special delivery only and make sure to include item value. 

1oz gold fully insured at say £1550 is £9.85

 

1 hour ago, modofantasma said:

What James said.

The insurance brackets are upto £500, upto £1000 or upto £2500 

https://send.royalmail.com/send/youritem?country=GBR&format&weight=&weightUnit=G

There's a calculator here.

Which means that you can almost insure 2 x one ounce coins for the maximum limit.

We used to be able to send 40+ Krugers in one max SD (Registered) package.

[1moreoz]

I had a pretty decent offer this morning from one of the dealers but they are paying the same price for all the coins so no extra for the queens beast or oriental borders. Waiting on the other two places getting back to me.

[pricha]

I've only sold scrap gold to dealers before. Do dealers only offer a flat rate for let's say sovereigns? . I mean obviously some sovereigns are worth much more than others ? Of course there's a lot to take into consideration such as condition, mintage etc.  I suppose its up to the seller to investigate and know  what they have like this gentleman.