Proof Sovereign Sets

[andy80s]

Hi

Very new to this after being left a coin collection from a relative. I started to look into what I have and found I had a large amount of money tied up  in these items.I looked at places to get them priced up to sell.I found Chards online and booked an appointment to go in and was surprised to be 5% below spot price for 4-coin proof sets. The lady explained they didn't have much demand for them which I found very odd she seemed more concerned that i didn't have the paper outer sleeves saying collectors would not be interested without them. I would be interested to know if this is the case.All the sets were boxed with certificates.As an example I had 2002,2007,2008 4 -coin sets and a 5 coin 2010 sets as well as other items.

I am just a little unsure why people would buy new proof sets at the current premiums if they were not going to increase in value. I have just been unfortunate in my experience.

Thanks Andy

[ChrisSilver]

Dealers will always pay less than what you can get selling directly to other collectors, and usually just pay the bullion price. You may want to consider listing on the trade section on here  

If so, please do make sure you have read the applicable QuickStart guide to trading as it contains useful and important information before trading on the forum. 

UK QuickStart Guide
EU QuickStart Guide
USA & Canada QuickStart Guide

[TeaTime]

There is always 'no demand' for proof coins when you take them to a dealer... Doesn't stop them charging a 20-100%  premium when they sell them though.

In general gold is considered a commodity and has a market price - most dealers will offer a few percent below spot regardless of the particular strike of the coin. Selling privately, either to a collector or speculator, is the best way of achieving a minimal loss (and, once in a while, a profit)..   

[Silverlocks]

3 hours ago, andy80s said:

Hi

Very new to this after being left a coin collection from a relative. I started to look into what I have and found I had a large amount of money tied up  in these items.I looked at places to get them priced up to sell.I found Chards online and booked an appointment to go in and was surprised to be 5% below spot price for 4-coin proof sets. The lady explained they didn't have much demand for them which I found very odd she seemed more concerned that i didn't have the paper outer sleeves saying collectors would not be interested without them. I would be interested to know if this is the case.All the sets were boxed with certificates.As an example I had 2002,2007,2008 4 -coin sets and a 5 coin 2010 sets as well as other items.

I am just a little unsure why people would buy new proof sets at the current premiums if they were not going to increase in value. I have just been unfortunate in my experience.

Thanks Andy

 

3 hours ago, ChrisSilver said:

Dealers will always pay less than what you can get selling directly to other collectors, and usually just pay the bullion price. You may want to consider listing on the trade section on here  

If so, please do make sure you have read the applicable QuickStart guide to trading as it contains useful and important information before trading on the forum. 

UK QuickStart Guide
EU QuickStart Guide
USA & Canada QuickStart Guide

As just a happy punter, I can say that you're probably safest selling here as anywhere if you're a first time seller.  As a new seller, you will probably be asked to ship before receiving payment for the first one or two sales, just to ensure you're not scamming folks.  This presents a chicken-and-egg problem, but if you're happy to sell the first one or two items to reputable sellers on this basis (take a look at their trading feedback) you will get feedback, and can then trade normally.

TSF has a very effective community reputation system, which you can see on people's listings on the buy/sell pages.  Unlike Facebook or Ebay, TSF has a real community and a much more proactive moderation policy about weeding out bad apples (you'd be surprised at how bad FB and Ebay are for this, each in their own special way).  Folks here may also be able to help you with pricing items you want to sell.

You should also get at least a silver membership, as that lets you upload as many images on a listing as you want, and it allows you to see new listings on the trade boards.

 

[MonkeysUncle]

Echoing what has been said - proof coins are worth no more than bullion in a dealers eyes.

It's gold and is traded on weight at usually a little below spot price. 

If you want to realise value from the proofs then private sale is the way.

[Stu]

Your 2002 set is a special golden jubilee edition and will have a premium on top. The others will sell a bit more than bullion does if in good nick, if you sell on here. @Pete sold some sets a few years ago and wished he had bought bullion originally (from dealers I believe) , even buying on secondary market.

As mentioned, dealers will slap a bit of a premium on non special year sets when selling on their and some people will still buy them. If you buy a normal release set direct from the royal mint you are putting a high premium straight down the toilet. (Unless gold itself rises by 50% etc)

[SidS]

Anyone else get the urge to become a coin dealer? 😁

[dicker]

Agreed selling here would realise the best price.  Assuming that the coins have not been handled.  
 

[MBTPSilver]

If you do want to go with a dealer specifically (quicker sale, less hassle than private selling) then shop around. Chards are definitely going low there if they're offering 5% below. GOLD.co.uk offer 3% below just on bullion and will sometimes go a bit higher on Proof.

[BullionBob]

In my experience, when dealers offer much lower than spot for such items, it is because they can quickly pass it off in the trade to another dealer and still make a decent profit.

[RDHC]

3 hours ago, BullionBob said:

In my experience, when dealers offer much lower than spot for such items, it is because they can quickly pass it off in the trade to another dealer and still make a decent profit.

A dirty business in other words.

[TringSilver]

Are they royal mint sovereign sets or Hattons or similar? 

[goldhunter]

Best prices will be achieved on ebay but there are risks.

TSF and facebook groups are full of dealers wanting to pay below market prices.

 

[westminstrel]

On 15/10/2023 at 00:06, andy80s said:

Hi

Very new to this after being left a coin collection from a relative. I started to look into what I have and found I had a large amount of money tied up  in these items.I looked at places to get them priced up to sell.I found Chards online and booked an appointment to go in and was surprised to be 5% below spot price for 4-coin proof sets. The lady explained they didn't have much demand for them which I found very odd she seemed more concerned that i didn't have the paper outer sleeves saying collectors would not be interested without them. I would be interested to know if this is the case.All the sets were boxed with certificates.As an example I had 2002,2007,2008 4 -coin sets and a 5 coin 2010 sets as well as other items.

I am just a little unsure why people would buy new proof sets at the current premiums if they were not going to increase in value. I have just been unfortunate in my experience.

Thanks Andy

Maybe consider an auction house like @CoinsOfTheRealmAuctions?

[CoinsOfTheRealmAuctions]

Hi Andy,

 

If you would like any information about our online Auctions please reach out (no obligation). We work on 10 % commission on the hammer price everything else is yours!

https://bidlive.coinsoftherealm-auctions.com

 

 

Best regards

 

Louise

0800 169 1066

 

PS It may be worth grading some of the collection and then selling through auction - which is something I am happy to discuss with you as we offer grading at cost if selling through auction.