Would you buy a proof "commemorative" sovereign issued to the same specifications of a sovereign, if you could get it for the same price, or £5-£10 more than a RM sovereign? If yes/no, why?

[Solachesis]

There are some commemorative coins which are struck with unique designs, to the size and weight of actual sovereigns. These are typically proof, and considerably overpriced. 

However, sometimes I see them being sold at pawn shops or jewelers at the same price, if only a touch more expensive than an actual bullion royal mint sovereign. 

So the question is, you're getting a proof coin, with the same amount of gold, but it's not the sovereign we all know.

Does it interest you? Or would you pass?

[Bigmarc]

Pass, it would be harder to sell. 

[Solachesis]

2 minutes ago, Bigmarc said:

Pass, it would be harder to sell. 

Very valid concern. Some of them are quite beautiful and to me, it would be a coin I wouldn't plan on selling, but holding on to for its aesthetics, but yeah I imagine if I HAD to sell, unless the gold price is significantly higher, I may not get any return on it at all

[BullionBuyerUK]

I wouldn't buy it, and have passed up on these coins quite a few times. The problem is, a sovereign or half sovereign is recognised the world over, and it's known to be produced by the royal mint. These commemorative coins if they don't have any paperwork with them could be produced by anyone. Not only that, how many people actually know anything about these coins? There probably isn't anything about them in any coin books either. So it will be a much harder sell going forward, and you would probably have to sell it (like this person probably has done) to a pawn shop for less then scrap value

[Solachesis]

1 minute ago, BullionBuyerUK said:

I wouldn't buy it, and have passed up on these coins quite a few times. The problem is, a sovereign or half sovereign is recognised the world over, and it's known to be produced by the royal mint. These commemorative coins if they don't have any paperwork with them could be produced by anyone. Not only that, how many people actually know anything about these coins? There probably isn't anything about them in any coin books either. So it will be a much harder sell going forward, and you would probably have to sell it (like this person probably has done) to a pawn shop for less then scrap value

Very true, I hadn't considered the price said seller would have got flogging it to the pawn shop. 

I'll give up on the idea, thanks! I'm somewhat new to collecting gold, so I guess I'm still quite easily enamored by the beauty of some designs. 

[BullionBuyerUK]

1 minute ago, Solachesis said:

Very true, I hadn't considered the price said seller would have got flogging it to the pawn shop. 

I'll give up on the idea, thanks! I'm somewhat new to collecting gold, so I guess I'm still quite easily enamored by the beauty of some designs.

If you like the coin/rounds/medals for their design, then have a look at some silver versions, these can sometimes hold their value or increase if limited mintage. Plus it's a lot less of an investment 

[Solachesis]

2 minutes ago, BullionBuyerUK said:

If you like the coin/rounds/medals for their design, then have a look at some silver versions, these can sometimes hold their value or increase if limited mintage. Plus it's a lot less of an investment 

This has been my approach to silver so far actually, instead of buying a gold maple, I bought a silver one and saved on the gold premium and got a sovereign.

Oh how I'd love a collection of world gold, but silver will have to do hehe 

[BullionBuyerUK]

Just now, Solachesis said:

This has been my approach to silver so far actually, instead of buying a gold maple, I bought a silver one and saved on the gold premium and got a sovereign.

Oh how I'd love a collection of world gold, but silver will have to do hehe 

Lots of us start off that way, then build your way up.

[LawrenceChard]

19 minutes ago, Solachesis said:

Would you buy a proof "commemorative" sovereign issued to the same specifications of a sovereign, if you could get it for the same price, or £5-£10 more than a RM sovereign? If yes/no, why?

There are some commemorative coins which are struck with unique designs, to the size and weight of actual sovereigns. These are typically proof, and considerably overpriced. 

However, sometimes I see them being sold at pawn shops or jewelers at the same price, if only a touch more expensive than an actual bullion royal mint sovereign. 

So the question is, you're getting a proof coin, with the same amount of gold, but it's not the sovereign we all know.

Does it interest you? Or would you pass?

You seem to be leading the "filibuster" contest:

I suspect that if you are looking at pawn shops and "jewelers", you are probably seeing damaged, polished, and possibly fake soverigns.

More importanly though, when you say "same price, or £5-£10 more than a RM sovereign", are you comparing with prices at the same pawn shops / jewellers or with real bulllion dealers or TSF prices?

The best way to compare is look at the percentage premiums over intrinsic. A very few of the best bullion dealers show these in their gold bullion prices, but most of the uncompetitive places don't, mainly because they don't want you to know.

😎

[Solachesis]

11 minutes ago, LawrenceChard said:

More importanly though, when you say "same price, or £5-£10 more than a RM sovereign", are you comparing with prices at the same pawn shops / jewellers or with real bulllion dealers or TSF prices

Comparing them to prices on the big bullion dealers, such as a "best value sovereign" as well as specific years. Said jeweler is selling a 2002 half sovereign for cheaper than BBP/ yourselves, but the fact it could be polished means I probably wouldn't want to save a few quid this way - something I felt a proof coin might not have done to it, because that would be a stupid thing to do haha

 

14 minutes ago, LawrenceChard said:

but most of the uncompetitive places don't, mainly because they don't want you to know.

😎

I love this feature on Chards, because I suck at maths and calculating them all manually is a pain! 😁

[dicker]

In my opinion they are the dog s**t of the bullion / proof world.

 

[LawrenceChard]

18 minutes ago, BullionBuyerUK said:

I wouldn't buy it, and have passed up on these coins quite a few times. The problem is, a sovereign or half sovereign is recognised the world over, and it's known to be produced by the royal mint. These commemorative coins if they don't have any paperwork with them could be produced by anyone. Not only that, how many people actually know anything about these coins? There probably isn't anything about them in any coin books either. So it will be a much harder sell going forward, and you would probably have to sell it (like this person probably has done) to a pawn shop for less then scrap value

Yes, the idiot gullible person who originally paid 100% premium from one of the numerous Coin Marketing Companies, probably got ripped off a seond time when he sold it on his High Street for about 2/3 of intrinsic.

Am I being cynical? Yes, perhaps, because I see examples of it day after day after day.

It really is frustrating when I / we try to offer good value and good advice, yet see daily examples of people who have bought without engaging their brain first.

😎

[LawrenceChard]

6 minutes ago, Solachesis said:

Comparing them to prices on the big bullion dealers, such as a "best value sovereign" as well as specific years. Said jeweler is selling a 2002 half sovereign for cheaper than BBP/ yourselves, but the fact it could be polished means I probably wouldn't want to save a few quid this way - something I felt a proof coin might not have done to it, because that would be a stupid thing to do haha

I love this feature on Chards, because I suck at maths and calculating them all manually is a pain! 😁

Thanks. It's great to hear that feedback!

My maths is good, but it still saves time and energy, when trying to compare.

😎

[LawrenceChard]

8 minutes ago, dicker said:

In my opinion they are the dog s**t of the bullion / proof world.

 

Are you referring to the coins themselves or the "Coin Marketing Companies" who push them out to the suckers gullible buyers?

😎

[Solachesis]

4 minutes ago, LawrenceChard said:

Thanks. It's great to hear that feedback!

My maths is good, but it still saves time and energy, when trying to compare.

😎

Thanks for your very detailed points you made. I'm rather new and so far 2 of my 3 purchase were sensible (I think) (half sov and 2022 sov) both from reputable dealers. 

My first gold was a high premium coin from Hattons because I was a gullible idiot, but I'm trying to become more knowledgeable, hence being here 😎

[LawrenceChard]

5 minutes ago, Solachesis said:

Thanks for your very detailed points you made. I'm rather new and so far 2 of my 3 purchase were sensible (I think) (half sov and 2022 sov) both from reputable dealers. 

My first gold was a high premium coin from Hattons because I was a gullible idiot, but I'm trying to become more knowledgeable, hence being here 😎

Thanks for your very detailed points you made. I'm rather new and so far 2 of my 3 purchase were sensible (I think) (half sov and 2022 sov) both from reputable dealers. 

Do you mean dealer (singular)? I can only think of one! 😎

"My first gold was a high premium coin from Hattons because I was a gullible idiot"

It sounds like I may have inadvertently insulted you, in which case I probably owe you an apology:

"but I'm trying to become more knowledgeable, hence being here"

Good move!

You might also want to read this:

https://www.chards.co.uk/blog/advice-guide-for-uk-bullion-investors/1041

😎

[dicker]

12 minutes ago, LawrenceChard said:

Are you referring to the coins themselves or the "Coin Marketing Companies" who push them out to the suckers gullible buyers?

😎

100% the coin marketing companies, but also a great deal of the coins.

Foul marketing, preying on people and a lot of direct marketing that for me pushes the boundaries.  
 

 

[Solachesis]

13 minutes ago, LawrenceChard said:

It sounds like I may have inadvertently insulted you, in which case I probably owe you an apology:

It's all good! You have to laugh at these things. On a totally unrelated matter, I'm going go back to quietly lurking to avoid embarrassing myself any further!

 

15 minutes ago, LawrenceChard said:

Do you mean dealer (singular)? I can only think of one! 😎

Yeah, a company called Bards, operating on eBay, they have a whopping 16 feedback! 

And thank you for the linked resource. I do check your website the most! (There's actually a few items I want, but alas they are stocklist only, and I haven't mustered up the courage to call about them yet)

[LawrenceChard]

13 minutes ago, dicker said:

100% the coin marketing companies, but also a great deal of the coins.

Foul marketing, preying on people and a lot of direct marketing that for me pushes the boundaries.  
 

I fully agree about the CMCs, but actually some of the coins are OK, and even quite nice, but better bought later at near bullion prices rather than new at rip-off prices.

😎

[GoldDiggerDave]

Who, where, what?   This title reads like one of @James32 sales. 

[GoldDiggerDave]

A proof sovereign not issued by the a royal mint at the same price of a RM proof sovereign? 
 

a proof sovereign not issued by the RM but only£5-10 more than the bullion price 

yes/no why?…………WTF 

[GoldDiggerDave]

 

[Solachesis]

1 minute ago, GoldDiggerDave said:

A proof sovereign not issued by the a royal mint at the same price of a RM proof sovereign? 
 

a proof sovereign not issued by the RM but only£5-10 more than the bullion price 

yes/no why?…………WTF 

I never said a royal mint proof sovereign man, I said a proof commemorative coin to the specifications of a sovereign, being the same price as an actual bullion sovereign - not a proof.

But as people have pointed out, better to just get an actual sovereign from the RM

[LawrenceChard]

5 minutes ago, Solachesis said:

It's all good! You have to laugh at these things. On a totally unrelated matter, I'm going go back to quietly lurking to avoid embarrassing myself any further!

 

Yeah, a company called Bards, operating on eBay, they have a whopping 16 feedback! 

And thank you for the linked resource. I do check your website the most! (There's actually a few items I want, but alas they are stocklist only, and I haven't mustered up the courage to call about them yet)

You are better to ask questions at a slight risk, because it's a good way to learn.

Have you got a link to Bards ebay shop?

It sounds as though they are trying to trade on the name Bairds.

You don't need to courage to phone our Customer Service Team, but they / we have been exceptionally busy recently, and our "stocklist" items are mainly stuff we have not had time to fully describe, grade, etc.

Our best value stuff is usually priced and easily buyable.

😎

[James32]

5 minutes ago, LawrenceChard said:

Have you got a link to Bards ebay shop?

It sounds as though they are trying to trade on the name Bairds.

Or its Barry trading on the Chards name? Iffany and Carter was a bust!