Is now a good time to sell on TSF?

[KitchenCollector]

I've been watching the discussion on the forum around the recent hikes on gold price with some amusement.

I didn't get the impression from those discussions that forumites would be queuing up to buy gold right now, what with the ongoing ATH's putting people off.

I've been collecting for a few years as a means of saving towards a mortgage deposit. I've ammased a few 1oz QB's and a Brit, and a few more full sov's over the years... and I'm getting thoroughly sick of paying someone elses mortgage with my rent.

 

The question is, If I were to start listing these coins (at reasonable prices - spot for bullion and a small premium for QB's), would I find many buyers, or would they sit unsold as people wait for a pull back on gold price?

What do you think?

[Cornishfarmer]

Haven’t bought or sold one forum for a long time but historically members are tight so like a good deal.    Even with all the talk about cost averaging and keep on stacking I’m not sure how many will but their money where their mouth is at the moment.    If you have been stacking for a few years you will have made a nice chunk on them so if sold the qb at spot you will still be up.       Haven’t kept an eye on the beasts but some of them were going for £100’s over spot in the past but think you’d struggle to get that not but like I said I haven’t been in the market for a while

[BackyardBullion]

My experience would suggest that if something is priced well on the forum it will sell quickly.

Gold has to be spot or less right now, otherwise it's just not going to sell. 

Silver seems to be very low to the ground in premium, I bought a below spot silver purchase (premium ish item too) this week. I have seen Britannia's going for £1 over spot. 

At these prices you kind of have to ask yourself why bother selling on the forum because Atkinsons (not a sponsored plug for those that like to call me out whenever I mention them, they are just the leading buyer and seller right now, so jog on please conspiracy theorists) and indeed other dealers are offering £1 over spot for britannias. No risk, no faff just selling and being done.

The same can be said of gold. Why bother with the risk and stress of selling a 1 Oz gold Britannia at 98% spot on the forum when you can send it to Atkinsons for 98% spot.

So, is selling on the forum dead? I don't think it's dead, it's just a crazy market that the forum is struggling to keep up with.

Buying I would say is much better on the forum right now. You can buy silver and gold dirt cheap. But if you're a seller it's cheap so not good.

Just my 2¢

[9x883]

Beasts are always popular, spot plus the £19 post have seen them get bought. Perhaps an additional small premium for the desirable designs, only if they're in top condition.

Britannia are a hard sell if not the ones with the security features. Spot maybe if of this type, so perhaps a dealer.

Depends how quickly you want to sell. The cheaper they are, the faster they'll sell. 

Just to add, you're selling at quite a volatile time. Buyers are waiting for the price to stabilise, who knows when that'll be!

Edited April 13 by 9x883

[Paul]

Price it cheap enough and buyers will always appear, if @James32 hasn't got there first 🥇🏆

[modofantasma]

2 hours ago, KitchenCollector said:

The question is, If I were to start listing these coins (at reasonable prices - spot for bullion and a small premium for QB's), would I find many buyers, or would they sit unsold as people wait for a pull back on gold price?

What do you think?

You could always list it here and see.

If no joy then head to the dealer next week....

Just watch for the inbox messages

 "hi pal I can offer 15% below spot to do you a favour pal"

🤣

[KitchenCollector]

Obviously, everything will sell if priced cheaply.

A good shout regards Atkinsons for the sovs as I'd like for achieve as close to spot as possible but could consider 98% to save on hassle.

The difference between Atkinsons selling price and buying price for QB's though is way too much. They will buy my 2019 Yale for £1840 and but sell it for £2291... that's a very expensive convenience.

Same lack of value for graded coins, I've got a slabbed MS70 proof 2012 full sov and they'll take it off my hands for £650? Mmmm maybe not.

Edited April 13 by KitchenCollector
spelling

[modofantasma]

Just now, KitchenCollector said:

A good shout regards Atkinsons for the sovs as I'd like for acheive as close to spot as possible but could consider 98% to save on hassle

Just be wary that in their terms they might offer a lower price if the coins are not in great condition. You can of course reject their offer but I assume would have to pay the return postage to get your items back? 

Someone I know who had best value sovs sold back to them and a couple were marked down from the price quoted. I think it was about -6% of spot on those  

[KitchenCollector]

Just now, modofantasma said:

Just be wary that in their terms they might offer a lower price if the coins are not in great condition. You can of course reject their offer but I assume would have to pay the return postage to get your items back? 

Someone I know who had best value sovs sold back to them and a couple were marked down from the price quoted. I think it was about -6% of spot on those  

I've had to return a particularly rough best value sov Atkinsons tried to sell to me in the past so... that's fair enough. 😆

[modofantasma]

Not a knock against any dealer in particular but if a dealer is selling a coin as a best value I think they should take it back as one too. 

[shawy2510]

2 hours ago, Paul said:

Price it cheap enough and buyers will always appear, if @James32 hasn't got there first 🥇🏆

Not always. I have sovs at 1.5% under & no buyers. All tight sods 😆

[Orpster]

I am still buying at my usual quantities but at the moment I am concentrating on gold that has seen its usually higher premium evaporate so has largely remained the same price, proof, graded, young heads etc.  

You may find given you have no trading feedback you will have to send first and receive payment on receipt should you sell on the forum, or potentially go though the @BackyardBullion intermediary service.  If the former just be sure to deal with established members for the first couple of sales till your feedback has built a little and people will pay in advance of shipping.  

Good luck though, I sold a large portion of my own stack last year to pay down my mortgage when my low rate deal was ending.  Gold may have skyrocketed since but I suspect I have/will have saved more in interest payments than I would have made on my gold and I have zero regrets

 

[Spyder]

5 hours ago, Cornishfarmer said:

historically members are tight so like a good deal.   

Some members when they talk in their sleep, it not about someone name, more likely about spot price. 

It is no brainer if you have quite a few coin to sell, going the dealer route would be quicker and less troublesome.  If you have time on your hands, then list and try your luck here.

[Darr3nG]

5 hours ago, KitchenCollector said:

If I were to start listing these coins (at reasonable prices - spot for bullion and a small premium for QB's), would I find many buyers, or would they sit unsold as people wait for a pull back on gold price?

Costs nothing to try... put up a listing, with good quality pics and your prices... see if you get any interest.

As a recently joined, non-premium member with no trading feedback, there may be an expectation for you to post first before payment - but feel free to set your own sales terms.

[ChrisSilver]

You may wish to take advantage of this current offer: 

Ends May 19th 2024

[AppleZippoandMetronome]

In the 6 or 7 years I've been around here and really been paying attention to the gold/silver prices I've found that stuff priced well will always sell. A lot of coins that would traditionally have a higher premium (not talking mega collectable stuff here just premiums that are higher than normal - stuff like normal proofs, the QBs mentioned, slightly special sovs, etc) tend to look more attractable as the gold price rises because it often takes a bit for the premium to catch up to the live gold price. I've bought a lot of coins like this during these gold runs over the last 4 or 5 years. Arguable whether it matters long term but when the premium shrinks it feels like you got a good deal especially when those premiums eventually do catch up to the live price once things settle.

Edited April 13 by AppleZippoandMetronome

[ZRPMs]

I'm still buying. from a personal point of view. If it's something I'm after , I'd rather buy from here than take chances else where. I have my regular dealers I check in with but I find here just fine. You'll have less hassle selling here than ebay, facebook and the like and most likely get a bit better price here than dealers.

Until you try, you'll never know.  

[FriedrichVonHayek]

I know everyone's got their own strategy but I find buying scrap Silver has the lowest spreads and is easy to offload for just under spot.

In my opinion Silver coins and bars are quite illiquid if you need to sell a lot of it.

You either get rinsed by a bulion dealer,low-balled on here or take your chances on fleabay.

[KitchenCollector]

I sold almost all my bog standard sovs and 1oz brits to Atkinsons this weekend, (at a shade under 98% spot), which will raise the majority chunk of the mortgage deposit. 😔

Their buying and selling spread for QB's was just too big to swallow, so they will be staying with me for a while until things 'normalise' a little, then I'll list them on TSF (for much better value than you'd get from a dealer). 😉

I also want to check if this large deposit of money into my account triggers any sort of investigation. I don't think it will, but I've always kept a record of receipts, just in case. 😉

[9x883]

20 minutes ago, KitchenCollector said:

I sold almost all my bog standard sovs and 1oz brits to Atkinsons this weekend, (at a shade under 98% spot), which will raise the majority chunk of the mortgage deposit. 😔

Their buying and selling spread for QB's was just too big to swallow, so they will be staying with me for a while until things 'normalise' a little, then I'll list them on TSF (for much better value than you'd get from a dealer). 😉

I also want to check if this large deposit of money into my account triggers any sort of investigation. I don't think it will, but I've always kept a record of receipts, just in case. 😉

Great news, well done. 👏 

[bluemoon]

24 minutes ago, KitchenCollector said:

I sold almost all my bog standard sovs and 1oz brits to Atkinsons this weekend, (at a shade under 98% spot), which will raise the majority chunk of the mortgage deposit. 😔

Their buying and selling spread for QB's was just too big to swallow, so they will be staying with me for a while until things 'normalise' a little, then I'll list them on TSF (for much better value than you'd get from a dealer). 😉

I also want to check if this large deposit of money into my account triggers any sort of investigation. I don't think it will, but I've always kept a record of receipts, just in case. 😉

Would also be interesting to hear if it triggers an investigation.

[ZRPMs]

18 minutes ago, KitchenCollector said:

I sold almost all my bog standard sovs and 1oz brits to Atkinsons this weekend, (at a shade under 98% spot), which will raise the majority chunk of the mortgage deposit. 😔

Their buying and selling spread for QB's was just too big to swallow, so they will be staying with me for a while until things 'normalise' a little, then I'll list them on TSF (for much better value than you'd get from a dealer). 😉

I also want to check if this large deposit of money into my account triggers any sort of investigation. I don't think it will, but I've always kept a record of receipts, just in case. 😉

Congrats on the house purchasing. It can be sad when the stack or some of it gets sold off but reasons like this are why we stack. I remember when I was about 14, just about to start the last 2 years in secondary school. My grandfather sat me down and said "Remember lad, Do you best. Do well and get good grades now and you'll be able to get a good well paid job that'll enable you to Buy your own home. A mortgage might feel a big burden. But you can pay it off. The rent man never goes away and he always askes for more as the years go by." Decided to end up down the self employed route but the bit about the rent mas never going away struck a chord with me. Bought the first house in my early 20's and before I reached my mid 20's became the rent man. I'm still here, Just. 

[James32]

On 13/04/2024 at 09:57, KitchenCollector said:

I've got a slabbed MS70 proof 2012 full sov

If its MS70 then it's not a proof and £650 is a remarkable price, I assume you mean PF70 though 🤔 

[KitchenCollector]

11 minutes ago, James32 said:

If its MS70 then it's not a proof and £650 is a remarkable price, I assume you mean PF70 though 🤔 

You're right, I meant PF70 Ultra Cameo

[James32]

1 minute ago, KitchenCollector said:

You're right, I meant PF70 Ultra Cameo

Yeah it's certainly a £1000+ coin these days