Did I over pay???

[Ukbullionfan]

2 minutes ago, LawrenceChard said:

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 harldy be from a real bullion dealer. It's such a rip-off price!

😎

Sup LC ? Thanks for the comment. Star struck right now 🫣. Anyway yeh it was a jeweller. I’m selling 2019,2020 and 2021 proof sovs to him for a total of £1400 this week and was going to sell the coins I’ve just mentioned to him too. I’m not sure if the proofs I’m selling to him are low but I doubt they will sell for much more on here.

[James32]

3 minutes ago, LawrenceChard said:

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 harldy be from a real bullion dealer. It's such a rip-off price!

😎

I will wet myself if the OP says "Chards" 

[LawrenceChard]

1 minute ago, James32 said:

I will wet myself if the OP says "Chards" 

So would I...

Excuse me, I'll be back in a couple of shakes!

😎

[Orpster]

1 minute ago, Ukbullionfan said:

I’m selling 2019,2020 and 2021 proof sovs to him for a total of £1400 this week

That's not a bad price at all from a dealer.

My local jeweller offers £20 under spot price on sovereigns and £20 over when selling, though can be less if you buy a few.  Cash only and under the counter.  Never sell to him obviously but have bought a few

[Ukbullionfan]

3 minutes ago, Orpster said:

That's not a bad price at all from a dealer.

My local jeweller offers £20 under spot price on sovereigns and £20 over when selling, though can be less if you buy a few.  Cash only and under the counter.  Never sell to him obviously but have bought a few

As in Proofs ?

[Zeuk]

Afraid i dont know much about proofs but surely you'd get more on here for those?

[Orpster]

2 minutes ago, Ukbullionfan said:

As in Proofs ?

No on bullion for the £20 under/over

[Zeuk]

Unless you're already committed to the sale, personally i'd do an auction for one of them on here first - there's enough buyers that you'll get a much better idea of true market price.

[Orpster]

7 minutes ago, Zeuk said:

Afraid i dont know much about proofs but surely you'd get more on here for those?

I would not pay more than £450 on a proof in a private sale, probably would not even pay that, on any of those years, there may be those that will I guess but I doubt it - as an example a 2019 proof can be picked up for £495 from a well known Blackpool dealer (other dealers are available)

Edited October 5, 2022 by Orpster

[Zeuk]

Just now, Orpster said:

I would not pay more than £450 on a proof in a private sale, probably would not even pay that, on any of those years, there may be those that will I guess but I doubt it - as an example a 2019 proof can be picked up for £495 from a well known Blackpool dealer (other dealers are available)

Fair - I am ignorant when it comes to proofs and their premium

[James32]

6 minutes ago, Ukbullionfan said:

As in Proofs ?

 

 

3 minutes ago, Orpster said:

No on bullion for the £20 under/over

What do you reckon on the proofs £466 each?

Seems OK to me considering ease of sale vrs 1000 questions on here regarding condition etc. Even graded 70s in generic years, would probably struggle fetching £550?

[DrDave]

1 minute ago, Orpster said:

a well known Blackpool dealer (other dealers are available)

Other dealers?? Are you sure? I thought there was only one..............

[Orpster]

5 minutes ago, Zeuk said:

Fair - I am ignorant when it comes to proofs and their premium

Only thing that would make me hesitate to sell at that price is the 2020.

Mintage figures are not known for 2020 yet but given it was lockdown I wonder what the numbers will be.  Proofs are normally done late the previous year though so they may have been unaffected.  Might be worth stacking a couple of 2020 bullions though. 

Edited October 5, 2022 by Orpster
I am tipsy and keep spelling stuff wrong

[Zeuk]

1 minute ago, Orpster said:

Only thing that would make me hesitate to sell at that price is the 2020.

Mintage figures are not known for 2020 yet but given it was lockdown I wonder what the numbers will be.  Proofs are normally done late the previous year though so they may have been affected.  Might be worth stacking a couple of 2020 bullions though. 

That's interesting in terms of scarcity/value - the value may or may not be in there until information becomes available

[artalien]

I have a 2019 that I haven't messed up (see incident with mr happy). I'd likely magic it to a door for 460.

Edited October 5, 2022 by artalien

[Orpster]

Just now, Zeuk said:

That's interesting in terms of scarcity/value - the value may or may not be in there until information becomes available

Royal mint are bl00dy slow at releasing the mintages as well, but there were a few months in 2020 where no one was working so it must have impacted production

[Zeuk]

2 minutes ago, Orpster said:

Royal mint are bl00dy slow at releasing the mintages as well, but there were a few months in 2020 where no one was working so it must have impacted production

Must be closely guarded information ... apart from a select few that coincidently have lovely holiday homes 

[Ukbullionfan]

I think I will take the dealers offer for all three at £1400 but when it was mentioned above there wasn’t a mintags figure for 2020 that’s making me think.

[Orpster]

1 minute ago, Zeuk said:

Must be closely guarded information ... apart from a select few that coincidently have lovely holiday homes 

They are up to 2018 on proofs and commemorative coins  https://www.royalmint.com/discover/uk-coins/mintage-figures/2018-dated-uk-commemorative-coin-sales/

[Zeuk]

2 minutes ago, Orpster said:

They are up to 2018 on proofs and commemorative coins  https://www.royalmint.com/discover/uk-coins/mintage-figures/2018-dated-uk-commemorative-coin-sales/

Very interesting thanks, not something ive read up on before.

[Orpster]

14 minutes ago, Ukbullionfan said:

I think I will take the dealers offer for all three at £1400 but when it was mentioned above there wasn’t a mintags figure for 2020 that’s making me think.

Checking recently sold prices so you have something to work with now I have given advise, these are all on eBay for raw versions - all subject to up to 12.8% in fee's:

2019 £430-£490

2020 £440-£610

2021 £395-£500

As you can see the 2020 has a range with a higher top end, and two recent sales were £600 & £610 but generally lower.  One of the 2020 sales is also clearly a bullion coin, the posting even has a picture of the original invoice that states bullion on it.  I stick by my comment that £1400 is a good and fair offer:

Also as a caveat, beware relying too much on eBay to work out prices.  It is not unknown for people to price gauge by bidding on each others coins then cancelling the sale after completion to raise the average and top prices of coins.

Edited October 5, 2022 by Orpster

[Ukbullionfan]

1 minute ago, Orpster said:

Checking recently sold prices so you have something to work with now I have given advise, these are all on eBay for raw versions - all subject to up to 12.8% in fee's:

2019 £430-£490

2020 £440-£610

2021 £395-£500

As you can see the 2020 has a range with a higher top end, and two recent sales were £600 & £610 but generally lower.  One of the 2020 sales is also clearly a bullion coin, the posting even has a picture of the original invoice that states bullion on it.  I stick by my comment that £1400 is a good and fair offer:

Also as a caveat, beware relying too much on eBay to gauge prices.  It is not unknown for people to price gauge by bidding on each others coins then cancelling the sale after completion to raise the average and top prices of coins.

I really appreciate this comment dude and the dudillegence <——- along with taking photos by spelling skills are not something I would be putting on any CV tbh. Lol. Thanks again dude great in-depth analysis will have to start calling you the Gary Neville of Bullion.

[Zeuk]

Very nice work @Orpster 

[Silverlocks]

12 hours ago, Ukbullionfan said:

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.

As one or two folks have suggested, you could try selling them here, or on ebay if you're feeling game.  From what I've seen here, the going rate for sovs that aren't particularly rare is about spot+£15 or so, which should net you more than the £330 offer you had.  Auctions on ebay seem to get you more than that, but then you're into the cesspit and run the risk of folks trying to scam you, which is a whole can of worms in itself.

 

[RoughDog]

21 hours ago, Ukbullionfan said:

Wow I’m awful at taking photos lol.

You need a macro lens and some diffused light or soft light.

Not enough light means slow shutter speeds (aka long exposure) and a tripod.