Did I over pay???

[Ukbullionfan]

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

[artalien]

I'm a newb mate but £380 for a sov is ok by me. Don't sell for £330. Unless it's to me 😁

Edited October 5, 2022 by artalien
capitalism

[DrDave]

39 minutes ago, Ukbullionfan said:

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

I'm sure there's members on here that pay about £7.40 for a sovereign, but mine recently have been between £360 and £410, so yours are about right i'd say

[Scootermuppet]

IMHO possibly a little over what you may have picked them up from the forum for, but as DrDave says, within acceptable limits…

Selling on here would get you more back than from a dealer I’d be willing to bet too 🤔

[Zeuk]

To some extent buying and selling direct to a dealer is never going to make you feel that good.  I think buying has benefits but selling you're going to get a price that is reasonable for them to be able to make a profit, you'll always get the worse end of the trades.  

Ps i''d quite like a 2014 if you are looking to sell and ill pay more than 330 😇

[CollectForFun]

59 minutes ago, Ukbullionfan said:

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

Why even bother comparing your purchase price with an offer from a dealer? It's obvious that dealer will offer you just bare minimum. You will continue "losing" in this way with every purchase you make if you keep doing so..!

[Zeuk]

fwiw an auction on here will give you a fair market price - but unless you're skimming with scale its a loooong game

[Ukbullionfan]

I don’t think I will be selling them to him or at all.  I suppose I could sell them on here. What would be a good price to sel them at ? I may just keep them and do a date run in the end anyway lol.

[James32]

1 hour ago, Ukbullionfan said:

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

Great advice already offered. 

In todays market you probably overpaid by £5 and £15 respectively, so not bad for a dealer tbh.

In saying that current pure gold spot value of a sovereign is approximately £355 so the dealer who made the offer whilst low, needs to factor in his upside. Basically only sell to a dealer when you are either in enough profit for ease of sale/safety reasons. Or when the bailiffs are removing the light fittings from your house.

Sell on here and you can expect £370 give or take for generic years 

[Ukbullionfan]

5 minutes ago, James32 said:

Great advice already offered. 

In todays market you probably overpaid by £5 and £15 respectively, so not bad for a dealer tbh.

In saying that current pure gold spot value of a sovereign is approximately £355 so the dealer who made the offer whilst low, needs to factor in his upside. Basically only sell to a dealer when you are either in enough profit for ease of sale/safety reasons. Or when the bailiffs are removing the light fittings from your house.

Sell on here and you can expect £370 give or take for generic years 

Thanks for the advice James. Is your hoover working by any chance ? Lol.

[James32]

Just now, Ukbullionfan said:

Thanks for the advice James. Is your hoover working by any chance ? Lol.

Not really going for generic years personally, but I'd imagine they will literally sell in minutes if you list.

[Zeuk]

If you do decide you want to sell (and assuming its before i spew all my spare money on more fondle sticks) i'd buy the 2014 for £370, mintys are going from dealer at 375 so it seems a fair price.

[James32]

1 minute ago, Zeuk said:

If you do decide you want to sell (and assuming its before i spew all my spare money on more fondle sticks) i'd buy the 2014 for £370, mintys are going from dealer at 375 so it seems a fair price.

Very fair 

[Ukbullionfan]

2 minutes ago, Zeuk said:

If you do decide you want to sell (and assuming its before i spew all my spare money on more fondle sticks) i'd buy the 2014 for £370, mintys are going from dealer at 375 so it seems a fair price.

Sent a PM

[Orpster]

1 hour ago, Ukbullionfan said:

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

You have not done badly for dealer prices, especially for BBP.

That's a good run to do as well, 2009-2015 Fourth Bust Second Reverse, as it is only 6 sovereign.  A couple of the years can be a pain to find but if you buy best value minty's from Chards they are usually QEII's and you can sell any duplicates.  If you do carry on with your run I have a spare 2011 I think, sure I can sort you a good price.  Were I selling those years I would be looking to price at £370-£375, it is on par with the lowest dealer price but the buyer gets to see the coins and know the year before buying.

[Ukbullionfan]

1 minute ago, Orpster said:

You have not done badly for dealer prices, especially for BBP.

That's a good run to do as well, 2009-2015 Fourth Bust Second Reverse, as it is only 6 sovereign.  A couple of the years can be a pain to find but if you buy best value minty's from Chards they are usually QEII's and you can sell any duplicates.  If you do carry on with your run I have a spare 2011 I think, sure I can sort you a good price.  Were I selling those years I would be looking to price at £370-£375, it is on par with the lowest dealer price but the buyer gets to see the coins and know the year before buying.

Damn you OP lol I’m flip flopping in my mind now. You have came up with some great points there. Grrrrr at my brain.

[Orpster]

1 minute ago, Ukbullionfan said:

Damn you OP lol I’m flip flopping in my mind now. You have came up with some great points there. Grrrrr at my brain.

My rule, never sell at a loss.  It is fine to wipe your face but never sell at a loss unless you really need the cash.  Two ways out, hold till spot rises (beware of dips when the recession kicks in but they are likely to be short lived) or complete the run, buy a nice little six sovereign box and stick 10% on the going price and stick it on eBay.

[Orpster]

Just now, Orpster said:

My rule, never sell at a loss.  It is fine to wipe your face but never sell at a loss unless you really need the cash.  Two ways out, hold till spot rises (beware of dips when the recession kicks in but they are likely to be short lived) or complete the run, buy a nice little six sovereign box and stick 10% on the going price and stick it on eBay.

You can also cost average, pick the rest up at £370 and the £400 does not matter, though you are looking around £405 for the 2012 right about now, if not a touch more.  

[artalien]

Keeeep them 😃

[Ukbullionfan]

Bop bop baby please, don’t let me go…… 

[DrDave]

Part of the fun is the challenge of completing a set or date run. I've chosen Victoria's starting with Young heads are there are LOTS of them if you include die sets and mints.

Keep them anf get a date run

[Ukbullionfan]

Wow I’m awful at taking photos lol.

[LawrenceChard]

On 05/10/2022 at 21:04, Ukbullionfan said:

Just a quick one guys. I was going to to a date run of sovs but I’m not too sure now l. Anyway I purchase these from BBP yes I know they are usually over the top I just wanted to know if i over paid ? I’ve been offered £330 each for them from a dealer which makes me lose  around £120. I’m not sure if I will sell them but I just wanted to know if I over paid.

2013 Elizabeth II Fourth Head just over  £380 

2014 Elizabeth II Fourth Head just over  £400

A bid price of £330 each is astoundingly low with the intrinsic gold content of a sovereign at about  £358. That's about an 8% discount.

Was it from a jeweller of pawnbroker? It could hardly be from a real bullion dealer. It's such a rip-off price!

😎

Edited October 7, 2022 by LawrenceChard

[Ukbullionfan]

Disclaimer to Chris Silver and over moderating legends. I’m not doing this thread as a loop hole for a sales thread. 😬😬😬

[LawrenceChard]

1 hour ago, DrDave said:

I'm sure there's members on here that pay about £7.40 for a sovereign

£7.40? There's already a queue bigger than the one for the Royal Mint on Monday!

😎