Has Charles rogered sovereigns ?

[Leonmarsh]

I have come close 50 times to buying Charles pf70 sovs and pulling the trigger on here they seem an absolute bargain 

But why aren't they selling? There not selling at all which is making me reluctant 

I know it's been covered a million times but someone help me out am I missing a bargain or has Charles rogered sovs 

 

 

[James32]

The whole forum is very slow, nothing specific to Charlie boy and likely to do with the state of the world/cost of living, although he won't have the same appeal his mother had. I personally think the memorial sovereigns are bargains, and the coronation are holding a little better but still under RRP. Everything is a buyers market currently and will take a few years to regulate itself, especially on proof items. 

Edited September 11, 2023 by James32

[SeverinDigsSovereigns]

When things are undervalued the instant reaction might be to buy the dip...

[Leonmarsh]

Serious question why wouldn't people hold ? And not get bummed on them as they are now ? 

[James32]

8 minutes ago, Leonmarsh said:

Serious question why wouldn't people hold ? And not get bummed on them as they are now ? 

Some people just need cash. Some people are sitting on multiple sets and choose not to have that amount of money tied up for another few years. If you go in knowing it's not a quick flip, then the purchase is easier to stomach.

[NGMD]

It’s a really tough market.
I bought a spare coronation proof sov in case my graded one came back under Top Pop and now couldn’t sell it below retail even taking a haircut. The bullion sovereign being crowned devalued the proof. RM has saturated the market with everything Charlie. 
Unless it’s a give away price, sellers put it back under the mattress.

Its is what it is.

[jultorsk]

It's almost as we're in stalled price discovery, and likely this will continue while buyers wait for e.g., TCC sales to set the baseline. 

That, and Christmas/holiday season is coming fast so needs must... 

[SiCole]

Wanted - Memorial 5 sov PF70's

£2600?

[jultorsk]

11 minutes ago, SiCole said:

Wanted - Memorial 5 sov PF70's

£2600?

Ha! 

Offering £2605 

[AppleZippoandMetronome]

From what I can see looking at coins coming up for sale all modern releases are suffering to some degree. I think this makes sense in the context of the current economic climate. There's still money out there but instead of betting on what were likely always overhyped (not to mention overpriced) new releases people are almost certainly opting for safer bets. Its possible that the prices these coins are selling at currently could make them a bargain in the future but thats definitely not guarantteed. A lot of folks like to compare these special release sovs to previous ones - especially the 89 ones. I'd warn about that mindset especially given the rate at which the Royal Mint has churned out special release sovs. At some point they stop being special and I wouldn't be surprised if we're there.

 

9 hours ago, Leonmarsh said:

Serious question why wouldn't people hold ? And not get bummed on them as they are now ? 

Some will have bought them with the intention of holding but have had things unexpected come up and need cash. Some will have bought to resell and just don't have enough cash flow to hold onto them hoping they rise in value - better to cash out, take the loss but have the chance to use that cash to profit elsewhere.

[SidS]

Fatigue.

People have been bombarded by so many commemoratives since the Queen's death that they've reached exhaustion point. It'll take years for the market to recover.

And I still haven't got my Charles III five pences I've been waiting for.

 

Edited September 12, 2023 by SidS

[JamesH]

Personally, I think those graded halves at £330 are an absolute steal and keep thinking about getting them myself. However, I don’t need them and having built a decent gold base over the last 18 months I’m far more minded to buy less right now, esp with people (myself included) wanting to retain a higher premium if selling right now. Bullion will still move quickly if priced right, I just don’t think sellers like the ‘right price’ currently and it creates a bit of a stand off. King Charles definitely not as likeable as Queen Elizabeth (in my opinion) but RM overload is likely to blame, alongside life just getting more costly in recent times (plus a degree of uncertainty over the year ahead)

[Zhorro]

I think the real problem is RM's release policy, and pricing policy.

We were surprised by the Memorial sovereign, but many bought it because it was the first KCIII portrait on a sovereign.  But then after buying the proof, the bullion version was released - so this detracted from the novelty of the proof version. 

People rushed to buy the Coronation SOTD (understandably), but then the novelty of this release was immediately undermined with the proof Coronation version (with a massive mintage), and this was immediately undermined with the bullion release.

And this brings us onto the potential of a KCIII 75th Birthday SOTD sovereign - I will not be buying it even if the mintage is a fraction of that of the Coronation SOTD.  Within a month or two of such a release we will be due the 2024 proof sovereign.  And again I will not be buying it - a bullion 2024 sovereign will be enough for me.

When I started collecting 5 years ago, a proof sovereign was about £410 (2019 proof - and at the time this seemed expensive!).  We then had the leap to £800 for the Brexit SOTD, and the 2021 proof sovereign went up to £570.  The Memorial proof was about £695 and the Coronation SOTD was a record of £850.

So not only are we getting more releases but the prices have increased massively - at a time of a cost of living crisis.  As many collectors already have the coins they want from the last few years, the only way to move something on, is by being aggressive on price.

Edited September 12, 2023 by Zhorro
typo

[SlowFrog]

I was looking to buy *something* related to the platinum jubilee, memorial, coronation etc - just to bung away and forget about. Issue is, I don't have time to keep up with all the releases and to me, it just seems like a hugely saturated market with too much choice (Royal Mint's fault?) and so I've ended up not buying anything! Especially when you add proofs versus bullion into the mix, as well as all the different denominations and sets. At this point, I'm just overwhelmed and confused.

[Leonmarsh]

13 minutes ago, SlowFrog said:

I was looking to buy *something* related to the platinum jubilee, memorial, coronation etc - just to bung away and forget about. Issue is, I don't have time to keep up with all the releases and to me, it just seems like a hugely saturated market with too much choice (Royal Mint's fault?) and so I've ended up not buying anything! Especially when you add proofs versus bullion into the mix, as well as all the different denominations and sets. At this point, I'm just overwhelmed and confused.

Me too overwhelmed and confused 

[Shinus73]

• Most people are skint
• Lots of royal events happening at once have understandably saturated the sovereign / proof coin market (some definite long-term winners though)
• It's currently a buyer's market (in everything - whisky, watches, furniture etc., not just coins)
• If you can afford to buy now, do so
• If you can afford to hold, do that also

[SidS]

3 minutes ago, Shinus73 said:

• It's currently a buyer's market (in everything - whisky, watches, furniture etc., not just coins)
• If you can afford to buy now, do so
• If you can afford to hold, do that also

I heartily concur. I was buying all the way through 2020 during the lockdowns, then I stopped 2021-2023, I've also noticed a downturn in all markets since last Xmas and that's when I started buying things again. I love a good haggle.

Picked up many first edition books after knocking asking prices down. I've been haggling just now for some silver on eBay. I've also started stockpiling some other metals in the last few weeks.

If you want to buy you've got between now and next March I reckon - skipping Black Friday through to Xmas as they'll jack the prices up then.

[CaptCaveMan]

I really struggled to find the money but managed to buy one of each of what I wanted, with help from TSF members I hasten to add!  My attention moving forward will virtually be bullion as and when deals arise.

The market, as with many has stagnated or dropped, imho due simply to finances being squeezed in virtually every direction.

Totally agree with @Shinus73 and @SidS that it's turning into a buyer's market... if you have the cash available.

[Divmad]

RM is as guilty as any British company of milking the "general inflation" trend. Raising prices steeply even in the face of a stagnant underlying bullion price is short term profit maximisation, pure and simple. This general corporate attitude to pricing makes me sick. It remains to be seen if the marketing clowns at RM "get" the damage they have inflicted on the serious collector market long term by their pricing and issue policies recently.

It's going to take quite a while for recent proof sovereigns to clear their RRPs. Surely there are easier ways to make money in the numismatic market, even at today's price levels.

[dicker]

Premium end of the market remains strong with high grade interesting coins selling well - from what I have seen and lost out to at auction.  RM releases….agreed with sentiment - there is just too much. 

Plus why by the awful copper coloured Sovs….not my thing at all.

Close to spot sells.  

[GoldDiggerDave]

It’s the fastest race to the bottom, serval factors, economic climate, people buying for the wrong reasons, and collectors getting like crypto buyers expecting the coin to +300% over night. 
 

The memorial is one of the best proof design wise coins,  I do think those who are sat holding a few of these £5 coming out the end of the inflation cycle will be the ones sitting pretty. 

he certainly won’t be the longest serving monarch, how many people will be falling over themselves trying to buy these when there’s a change in monarchy?  
 

 

 

[SiCole]

19 minutes ago, GoldDiggerDave said:

The memorial is one of the best proof design wise coins,  I do think those who are sat holding a few of these £5 coming out the end of the inflation cycle will be the ones sitting pretty. 
 

Completely disagree. Best thing people can do is panic and put them on the forum at spot.

[shawy2510]

High end old coins are the only things I see doing well at the moment. I recently graded a 1872 Sovereign & it came back a 66, sold it instantly for £5k. Could have got more but it was an in & out job 😆

[dicker]

1 hour ago, shawy2510 said:

High end old coins are the only things I see doing well at the moment. I recently graded a 1872 Sovereign & it came back a 66, sold it instantly for £5k. Could have got more but it was an in & out job 😆

I agree, top quality older coins remain desirable and sell well. Sovs, hammered etc etc

[Leonmarsh]

True but British only to be fair 

For instance the stunning 40 lire Napoleon 1814 Adam Dutton has still here at 750 it's probably a 900 quid coin all day on usual trading times