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The Royal Mint have started selling pre owned gold bullion coins


Foster88

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It looks like The Royal Mint have started selling pre owned bullion gold coins.

I wonder how competitive their prices will prove to be.

Currently £373.94 per individual sovereign.

https://www.royalmint.com/invest/bullion/uk-coin-ranges/pre-owned-bullion-coins/?utm_campaign=2022-08-prm-pre-owned&utm_medium=email&_hsmi=222630997&_hsenc=p2ANqtz-_-uN6q13WEPwTJugsHNOv8OVpGh6KLCb7Gl64pyhmIQ92u76a2Ds_TODqZPrhpFQi9Pe38uOPW-x4D-sfGQSPWS4eRBg&utm_content=222631069&utm_source=hs_email

Edited by Foster88
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4 minutes ago, Petra said:

That’s actually not a bad price, Bullion By Post is cheaper for 2022, however, £10 plus for other dates

I thought that too. But then Bullion By Post have always had inflated premiums on most of their coins.

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There's your answer @dicker - old sovereigns came in sealed yellow-top tubes! 😅

 

Screen Shot 2022-08-12 at 12.24.56 pm.png

The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary. - H.L. Mencken

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4 hours ago, Foster88 said:

I bet you hate surprises then. 😆

i do, i nearly walked out of my surprise 40th years ago.... 😂 so i just had a few extra rums!!!

It does not matter how slowly you go so long as you do not stop.

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14 hours ago, Foster88 said:

It looks like The Royal Mint have started selling pre owned bullion gold coins.

How is this new? Didn't the Royal Mint already do that for years? Looking at some of the quality of the newly minted coins they sell and ship.......... 

;)

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I guess for 99% of bullion sovereigns bought and sold the date doesn't really matter.
There are a few key dates of course as exceptions and if I was buying I would be focussing on the oldest Victorian, shields etc that are in decent condition.
Before the forum was created there were not that many dealers and I used primarily BullionbyPost and Hatton Garden Metals.
Both were extremely competitive and worked on premiums over spot of 3% and sometimes less.
They had minimum inventory and did not filter dates or charge higher prices for shields etc.

All changed today, gold fever - many sellers, but the bullion dealers we know have turned into coin shops charging whatever they can so the good old days of bargains are long gone.

Personally I find the current price of gold too high, but I though this when gold broke through the £1200 barrier and now regret selling.
I cannot figure out why silver remains relatively cheap especially with global double digit rising inflation and all the sh!t in the system affecting security, soaring government debt, living standards etc.

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2 hours ago, Jvw said:

How is this new? Didn't the Royal Mint already do that for years? Looking at some of the quality of the newly minted coins they sell and ship.......... 

;)

They have not been selling individual best value for a while (6-12 months), only by the tube which I found curious

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1 hour ago, Pete said:

I guess for 99% of bullion sovereigns bought and sold the date doesn't really matter.
There are a few key dates of course as exceptions and if I was buying I would be focussing on the oldest Victorian, shields etc that are in decent condition.
Before the forum was created there were not that many dealers and I used primarily BullionbyPost and Hatton Garden Metals.
Both were extremely competitive and worked on premiums over spot of 3% and sometimes less.
They had minimum inventory and did not filter dates or charge higher prices for shields etc.

All changed today, gold fever - many sellers, but the bullion dealers we know have turned into coin shops charging whatever they can so the good old days of bargains are long gone.

Personally I find the current price of gold too high, but I though this when gold broke through the £1200 barrier and now regret selling.
I cannot figure out why silver remains relatively cheap especially with global double digit rising inflation and all the sh!t in the system affecting security, soaring government debt, living standards etc.

Interesting post.

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On 12/08/2022 at 17:45, Foster88 said:

The pre-owned bullion started a few months ago, I mentioned it here back in May: 

 

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