Gold 3% Premium over Spot at bullion Dealers in UK

[Abyss]

It has finally happened, many years ago (before the War and Covid) you could pick up a standard generic 1 oz Gold Bullion Britannia from a number of reputable bullion dealers for 3% over spot plus postage. After many years of premiums creeping up they have been slowing coming back down and now we are finally back where we were prior to the world going crazy....

For reference I have spotted on Chards website 2024 Gold Britannia 1 oz Bullion Coin 3% over spot £1,560.93 plus deliver £7.00

https://www.chards.co.uk/2024-gold-britannia-1-oz-bullion-coin/19123

Atkinsons Bullion £7 higher, Tavex £1 higher, ATS £5 higher, Hatton Garden Metals £24 more expensive all of these dealers I have used in the past.

Premiums going down is a very good thing but when I started stacking Gold the exchange rate for the £/$ was at 1.50 and the price of Gold in USD $1200 effectively made Gold in the UK £800 an oz.........

Is it me or do other Gold stackers recall the good old days? (2014-2018)........

Edited September 30, 2023 by Abyss

[FriedrichVonHayek]

4 minutes ago, Abyss said:

It has finally happened, many years ago (before the War and Covid) you could pick up a standard generic 1 oz Gold Bullion Britannia from a number of reputable bullion dealers for 3% over spot plus postage. After many years of premiums creeping up they have been slowing coming back down and now we are finally back where we were prior to the world going crazy....

For reference I have spotted on Chards website 2024 Gold Britannia 1 oz Bullion Coin 3% over spot £1,560.93 plus deliver £7.00

https://www.chards.co.uk/2024-gold-britannia-1-oz-bullion-coin/19123

Atkinsons Bullion £7 higher, Tavex £1 higher, ATS £5 higher, Hatton Garden Metals £24 more expensive all of these dealers I have used in the past.

Premiums going down is a very good thing but when I started stacking Gold the exchange rate for the £/$ was at 1.50 and the price of Gold in USD $1200 effectively made Gold in the UK £800 an oz.........

Is it me or do other Gold stackers recall the good old days? (2014-2018)........

Chards have Krugs at 0.75% over spot plus postage.

If only they would do free postage😩.

[Spyder]

1 hour ago, Abyss said:

 

Premiums going down is a very good thing but when I started stacking Gold the exchange rate for the £/$ was at 1.50 and the price of Gold in USD $1200 effectively made Gold in the UK £800 an oz.........

Is it me or do other Gold stackers recall the good old days? (2014-2018)........

I bought a 50 Pesos gold coin for £840 in April 14. Those were the days to get good deals

Edited September 30, 2023 by Spyder

[James32]

20 minutes ago, Spyder said:

I bought a 50 Pesos gold coin for £840 in April 14. Those were the days to get good deals

Can offer £1000 today if you want a quick profit 😆 

[daca]

4 minutes ago, James32 said:

Can offer £1000 today if you want a quick profit 😆 

£1001🤣

[BLOOMMAN101]

I remember thinking an old bloke in a second-hand shop was taking advantage of my good nature when he sold me a Sov for £85 around 2001

[Spyder]

5 minutes ago, James32 said:

Can offer £1000 today if you want a quick profit 😆 

I tell you what, I will counter offer on the one you have £1100, as I know someone who is looking for one

[James32]

1 minute ago, BLOOMMAN101 said:

I remember thinking an old bloke in a second-hand shop was taking advantage of my good nature when he sold me a Sov for £85 around 2001

Can do £110 on that

[BLOOMMAN101]

1 hour ago, James32 said:

Can do £110 on that

Kruggs and Sovs were the only coins I knew, back then A Krugg would cost me £200   nearly broke my heart to stump up £1530 last year for a Britannia 

eta

@James32 mate you can have them all and my house if you can send me back to 2001

Edited September 30, 2023 by BLOOMMAN101

[dicker]

It’s a buyers market for sure - and yes…the good old days are now long gone.

Why are premiums lower?  Less demand?

[BLOOMMAN101]

10 minutes ago, dicker said:

It’s a buyers market for sure - and yes…the good old days are now long gone.

Why are premiums lower?  Less demand?

these are the good old days,😀

[Abyss]

16 minutes ago, dicker said:

It’s a buyers market for sure - and yes…the good old days are now long gone.

Why are premiums lower?  Less demand?

FYI.. I did ask Chards several years ago why the premiums had increased so much and they replied

"In the last 18 months we've seen that the high demand for precious metals has not been met with supply, which has led to higher premiums for in-demand coins, like sovereigns and Britannias.
It's tough to say when and if we will be "back to normal" so we can't give a firm yes or no on that, unfortunately. We always aim to give customers the most competitive premiums out there, but fundamentally, it depends on the market."

 

Looks like the market conditions have returned to normal.