Is Exchanging 1oz Gold For Gillicks A Good Idea 🤔UPDATE!

[Organics]

Hi All 👋

Advice needed. 

In light of the increase in gold, and possible continuing movement, I have been thinking about my 1 oz Gold coins and bars. Although I am fully aware that there is still a market for them, I personally am already moving away from buying more 1oz gold because of the price and focusing on fractional. If the price continues to rise, I think more and more buyers will feel the same way. Thus making it potentially harder to move in the future.

So, I was with my LCD yesterday and he just received about 30 Gillicks in high grade (to my untrained eye). After sounding him out, he would be prepared to do a straight swap for the 1oz pieces I have, for the Gillicks, at the same price. €72 a gram. This is because the 1oz I have don’t turn up in Portugal very often. 

He told me to let him know by tomorrow, as he’s holding the Gillicks for me. Just so you know the 1oz I have are all Perth Mint lunar series and Perth mint rectangular dragon coin bars. Off course the CGT aspect is also of interest and the potential increase in Gillick prices.

Just to add prices will be calculated at pure gold content. So it will be an equal trade. 

Would love to hear your thoughts.

Would you do it? 

🙏🙏🙏

Edited April 22 by Organics

[Norskgeld]

Yup. I would.

As you say, easier to move if price continues to rise as it has.

Also, sovs are recognised Worldwide.

Edited April 21 by Norskgeld

[AOB]

Yes, the trade sounds perfect.

Excellent condition Gillicks will be easier shifted here on TSF.
* Make sure to hand pick the rarer years where possible* 😁👍🏽
 

 

 

[Organics]

1 hour ago, Norskgeld said:

Yup. I would.

As you say, easier to move if price continues to rise as it has.

Also, sovs are recognised Worldwide.

Thank you for your response 🙏

[Organics]

44 minutes ago, AOB said:

Yes, the trade sounds perfect.

Excellent condition Gillicks will be easier shifted here on TSF.
* Make sure to hand pick the rarer years where possible* 😁👍🏽
 

 

 

Thank you for your response. I don’t really know what all the rarer years are. However I did see a 57, some 58’s and a couple of 74’s. No 59’s. Are there any others I should look for? 

[AOB]

Yes, I would have said grab the 59’s, 57’s… I screenshot some mintage figures in the Gillicks & machins for you there now.

[Organics]

23 minutes ago, AOB said:

Yes, I would have said grab the 59’s, 57’s… I screenshot some mintage figures in the Gillicks & machins for you there now.

Thanks 👍👍👍

[Stuntman]

Maybe keep one or two of your favourite 1oz coins and then trade the rest for the Gillicks.  Certainly the terms of the trade are very reasonable.

[AOB]

Just now, Stuntman said:

Maybe keep one or two of your favourite 1oz coins and then trade the rest for the Gillicks.  Certainly the terms of the trade are very reasonable.

I agree👆🏽

[JamesH]

If you’re trading pure gold parity gram for gram then I reckon this is a very good deal as you’re not losing any gold weight on the 24k ounce vs the 22k coins. If it’s physical weight you’re trading gram for gram then you’ll lose a little true gold value. Hope that makes sense. Nice deal either way 👍🏼

[AaaGee]

Keep 6 of one and half a dozen of the other.

[Spyder]

To make it a straight swap, you should be getting 17 Gillicks for 4oz of gold. If he offers 16, than you are losing.   If he gives you 17 I would take it without hesitation. Take all the 57, 62,64,65 he has and then move on to the Machin( 70's)

 

Edited April 21 by Spyder

[Organics]

1 hour ago, Stuntman said:

Maybe keep one or two of your favourite 1oz coins and then trade the rest for the Gillicks.  Certainly the terms of the trade are very reasonable.

Thanks 🙏 

[Organics]

56 minutes ago, JamesH said:

If you’re trading pure gold parity gram for gram then I reckon this is a very good deal as you’re not losing any gold weight on the 24k ounce vs the 22k coins. If it’s physical weight you’re trading gram for gram then you’ll lose a little true gold value. Hope that makes sense. Nice deal either way 👍🏼

It will be a gram for gram straight swap, based on pure gold value 👍

54 minutes ago, AaaGee said:

Keep 6 of one and half a dozen of the other.

👍👍👍

[Organics]

7 minutes ago, Spyder said:

To make it a  straight swap, you should be getting 17 Gillicks for 4oz of gold. If he offers 16, than you are losing.   If he gives you 17 I would take it without hesitation. Take all the 57, 62,64,65 he has and then move on to the Machin( 70's)

 

Thanks for the advice. I’ll post how I get on tomorrow 🙏

[Dankanugget]

I recently did this swap at a bullion dealers in London X4 gillicks for a 1oz Krugerrand. Three were 1957 so pleased with the deal.

[Organics]

2 minutes ago, Dankanugget said:

I recently did this swap at a bullion dealers in London X4 gillicks for a 1oz Krugerrand. Three were 1957 so pleased with the deal.

👌👌👌

[Sovhead]

A couple of weeks ago I traded all my 1oz gold coins for 4x Vic shield Sovs no regrets.

[goluckystayhappy]

5 minutes ago, Dankanugget said:

I recently did this swap at a bullion dealers in London X4 gillicks for a 1oz Krugerrand. Three were 1957 so pleased with the deal.

May I ask which dealer did this. Seems quite a good swap but does cost almost 6%

[Organics]

1 minute ago, Sovhead said:

A couple of weeks ago I traded all my 1oz gold coins for 4x Vic shield Sovs no regrets.

Looks like more and more are going down this route 🙏

[JamesH]

Hell, I’d take 1oz Brits all day long if people are happy to take 4 Jubilee/Memorial/Coronation sovs in exchange. Just drop me a PM 👍🏼

[Dankanugget]

37 minutes ago, goluckystayhappy said:

May I ask which dealer did this. Seems quite a good swap but does cost almost 6%

Sharps

[Bratnia]

Depends upon why and how you trade, and how large/small your portfolio is. Perhaps physical gold as deep storage (ten x 1oz single trades at a time (near £20K value more recently) is inclined to have smaller spreads), paper gold for more frequent trading (tight spreads, maybe £10 round trip brokerage cost (£5 each way) - so on a £5K round trip a little over 0.2%).

[Organics]

So I did the deal today for 17 Sovereigns. Here’s the 1957 one. 
 

 

[JamesH]

7 minutes ago, Organics said:

So I did the deal today for 17 Sovereigns. Here’s the 1957 one. 
 

 

Nice work. Looks like a lovely coin 👍🏼