4-6 month wait for bullion sovereigns from Chards

[WDeranged]

I recently made a (not huge) order of b grade sovereigns from Chards.  I expected to wait maybe a month but I got an email saying 4-6 months.  Is this normal?

[CazLikesCoins]

7 minutes ago, WDeranged said:

I recently made a (not huge) order of b grade sovereigns from Chards.  I expected to wait maybe a month but I got an email saying 4-6 months.  Is this normal?

That's next day delivery compared to Royal Mint times.

[HonestMoneyGoldSilver]

25 minutes ago, WDeranged said:

I recently made a (not huge) order of b grade sovereigns from Chards.  I expected to wait maybe a month but I got an email saying 4-6 months.  Is this normal?

No it is not "normal" but we live in the new normal. In the new normal that's not unreasonable. SilverDragons (USA YouTuber, forum member) had an interview with the CEO of Scottsdale Mint a couple of days ago. According to the CEO of Scottsdale, coins and bullion are fully allocated until well into 2024. PMs are a global market so 4-6 months is at least still within 2023 so not that "bad". Kinda shows the robust strength of the physical market, right? As long as you're spot price is nailed down you can expect to be sitting on a healthy profit by the time your sovereigns arrive. 

 

[KleinerVogel]

I've never ordered out of stock sovereigns from Chards, but I do remember a heated thread a few months back on here where a rather disgruntled customer was complaining about the same thing. As far as I have gathered, if you purchase the cheaper sovereigns which are "orderable" then the wait can be "indefinite" and apparently this is made very clear by warning pop ups during the purchasing process which you have to acknowledge to proceed with the sale.

I have my own opinions about this, I personally wouldn't buy the "orderable" items, but i suppose it's a good option for the person who wants the most cheapest sovereign possible but is not too fussed about when they receive the coins.

 

[KleinerVogel]

4 minutes ago, HonestMoneyGoldSilver said:

No it is not "normal" but we live in the new normal. In the new normal that's not unreasonable. SilverDragons (USA YouTuber, forum member) had an interview with the CEO of Scottsdale Mint a couple of days ago. According to the CEO of Scottsdale, coins and bullion are fully allocated until well into 2024. PMs are a global market so 4-6 months is at least still within 2023 so not that "bad". Kinda shows the robust strength of the physical market, right? As long as you're spot price is nailed down you can expect to be sitting on a healthy profit by the time your sovereigns arrive. 

 

I don't think this is in the area which OP is talking about. He is specifically talking about a unique issue with Chards and the b grade gold sovereigns and the wait time when ordering them (since they are pretty much always out of stock)

[HonestMoneyGoldSilver]

1 minute ago, KleinerVogel said:

I don't think this is in the area which OP is talking about. He is specifically talking about a unique issue with Chards and the b grade gold sovereigns and the wait time when ordering them (since they are pretty much always out of stock)

OK maybe you're right. The bullion dealers are waiting much longer than usual to replenish stock of all kinds though

[SeverinDigsSovereigns]

If you have done your order I think the price would be fixed. So if price rises further you have nothing to lose unless they unilaterally cancel your order. I have bought quite some in-stock coins from Chards but not pre-order ones and am unfamiliar with the terms, but it's not like Apocalypse would come tomorrow, so you'll receive your coins eventually.

[Bigmarc]

I once listened to Andrew Tate's hustlers university on how to get rich quick. Within the first ten minutes of his lesson is to sell something that you haven't got and buy it once you have the capital and just write an email that the item has become so popular that there is now a longer lead time. 

[KleinerVogel]

20 minutes ago, HonestMoneyGoldSilver said:

OK maybe you're right. The bullion dealers are waiting much longer than usual to replenish stock of all kinds though

Yeah I take that point on board and agree. Demand seems to be on the increase for sure.

 

[Skyfiller]

Have quite often purchased orderable sovereigns from Chards and it’s just a waiting game with the knowledge that you got them at the price listed at the time. Just make sure you don’t order anything else in stock in the same order that you want right away at this will come when the orderable items are in. Will be using the service again as soon as I’ve emptied the bank account on 2023 sovs 😀

[CazLikesCoins]

1 hour ago, KleinerVogel said:

I've never ordered out of stock sovereigns from Chards,

I have. On the doorstep within three weeks. Not literally, on the doorstep. State of my neighbours, they nick the plant pots, never mind the parcels.

[Paul]

And so another thread of negative c**p begins. That'll be etched into Google's cookies and history the bigger it gets.

The last thread similar to this, didn't do their firm any favours whatsoever at all to cement a customer focused problem solving reply

How dare you even assume you actually receive what you pay for 

Obviously nothing had changed at all

Said it in the last thread of these not in stock items, any firm who thinks this is ok ain't getting my money. 

We've been in business 50 years..... yadda yadda .....couldnt care less

 Don't sell stuff you don't have simple as that 

[Paul]

This is the previous thread 250+ replies of up and down good and bad press for the supposed  multiple best dealer in the UK 

Same old same old nothings been learnt or changed

 

 

[Leonmarsh]

4 hours ago, WDeranged said:

I recently made a (not huge) order of b grade sovereigns from Chards.  I expected to wait maybe a month but I got an email saying 4-6 months.  Is this normal?

First mistake ordering from chards 

 

[WDeranged]

Thanks for the replies.  I'll change my order to in stock coins and take the price hit.

[CazLikesCoins]

12 minutes ago, WDeranged said:

Thanks for the replies.  I'll change my order to in stock coins and take the price hit.

I wouldn't bother. If you've locked your price by the time they arrive they'll be worth about eighty thousand percent more than whatever Chards have got available now. Probably a bit of coronation silver or some old shillings. You might get the widow Twanky version of Victoria if you're lucky with a very unlucky premium or a Mr Men teacup. Leave the brick-a-brack and wait for your prize. Practice mindful breathing ... in ... and out and in .... and out Daniel-son 

[BullionBob]

I have always wondered why a business would take payment for sovereigns when they have not even sourced the stock.

One obvious answer would be if there is a drop in spot price during the waiting period, then the dealer could then afford to pay a higher premium within the trade to secure stock in volume and still make a profit. The chances are spot will always likely have some kind of dip within a 4-6 month period.

However, I have often wondered what would happen if spot price was to steadily rise steadily over a 4-6 period. Would the dealer then purchase stock at a higher price to fulfill customer orders and make a financial loss, or would they simply just refund the money and claim they could not secure the stock.

This method would then provide a risk free opportunity to the dealer.

 

[Paul]

17 minutes ago, BullionBob said:

I have always wondered why a business would take payment for sovereigns when they have not even sourced the stock.

One obvious answer would be if there is a drop in spot price during the waiting period, then the dealer could then afford to pay a higher premium within the trade to secure stock in volume and still make a profit. The chances are spot will always likely have some kind of dip within a 4-6 month period.

However, I have often wondered what would happen if spot price was to steadily rise steadily over a 4-6 period. Would the dealer then purchase stock at a higher price to fulfill customer orders and make a financial loss, or would they simply just refund the money and claim they could not secure the stock.

This method would then provide a risk free opportunity to the dealer.

 

When I've looked back on my bullion spends over £60k has gone to Atkinsons, because I know if I order before midday in vast majority of cases I'll have it the day after. Never once anything out of stock or to order

Ordering stuff in-stock yay. Ordering stuff to order or not in stock nay it's not for me

I'm a business owner myself and the main thing you always need is cash flow ie pounds and pence coming in the till/bank it  pays the wages, keeps the lights on, pays the NI, VAT and pension contributions 

I'm not saying they don't have funds to pay these bills but  you have an open ended delivery window,free money coming into your coffers. You could very easily use funds for more lucrative things and keep waiters waiting because we didn't promise you an ETA you agreed to

[gkoogk]

 Last year I had bought 5 sovs of Chards and had to wait a few weeks...the price of the 5  sovs were nearly £100 more to replace when i recieved them..so Chards took the hit not me

[Uksilverstackers]

14 minutes ago, gkoogk said:

so Chards took the hit not me

They probably didnt take a hit as they ordered from their supplier at same time for the same terms. I'm guessing they have to order them in from somewhere rather than stuff being sold by customers. Cant see Chards speculating what might come through the door or in the "sell us your gold" post.

[Midasfrog]

2 hours ago, WDeranged said:

Thanks for the replies.  I'll change my order to in stock coins and take the price hit.

If you have proof of your order you could sell them on Ebay 🤔

Edited May 10, 2023 by Midasfrog

[MBTPSilver]

12 hours ago, BullionBob said:

I have always wondered why a business would take payment for sovereigns when they have not even sourced the stock.

One obvious answer would be if there is a drop in spot price during the waiting period, then the dealer could then afford to pay a higher premium within the trade to secure stock in volume and still make a profit. The chances are spot will always likely have some kind of dip within a 4-6 month period.

However, I have often wondered what would happen if spot price was to steadily rise steadily over a 4-6 period. Would the dealer then purchase stock at a higher price to fulfill customer orders and make a financial loss, or would they simply just refund the money and claim they could not secure the stock.

This method would then provide a risk free opportunity to the dealer.

 

They may also like to have the cheap Sovereign option always there and visible on site, as it helps draw people in as one of the cheaper dealers (which Chards regularly are), this can help build a customer base, and can even have benefits to Google ranking, as more people may click their search results seeing a lower price. They're likely willing to take the potential loss on price movement, and the potential negative press of long waits, on the positive of keeping themselves cheaper than other dealers as and when they do source the stock.

As others have said though, if an item is out of stock I would always prefer a company to just not make it orderable.

[ilovesilverireallydo]

Mine are available immediately 😂 

 

[MikeG1978]

Are those holders easy to obtain i am looking for similar  when I start stacking bullion sovs 

[ilovesilverireallydo]

4 minutes ago, MikeG1978 said:

Are those holders easy to obtain i am looking for similar  when I start stacking bullion sovs 

Not these -  these are from Johnson Matthey investments. They used to sell in tubes of 50