Should I buy "best value" British Sovereigns

[pappin]

Hello all

I'm hoping for a bit of advice

I bought a mixture of British Sovereigns a few years ago. Some were 2008 and some were "best value".

At the time of posting most of the bullion dealers that I have looked at in the UK are selling "best value" sovereigns at around £457 but the 2008 are around £572. When I enquired with the dealers about selling they were only offering to buy at around spot for regardless of "best value" or 2008.

I bought the gold originally both as a hedge against inflation and for safety. If I want to buy more am I better just buying " best value" ?

Although I'm not considering selling at the moment are there better places than bullion dealers to sell the 2008 sovereigns ?

Thanks for any advice

[ChrisSilver]

I have edited your text to make it standard forum font/size. When pasting from elsewhere there is a bar that at the bottom, if you press the 'paste as standard text' it will nee converted  

[James32]

Firstly: welcome aboard. 

Secondly: a 2008 sovereign is nothing special and worth £455 max.

Thirdly: buy a trial membership on here for £1 and you will see 'best value' prices but arguably superior quality coins( you see exactly what you're buying) every day of the week for sale. 

Fourthly: selling on here will always net you more than a dealer. 

Fifthly: follow the previous four steps and thank me in a few months  🤣 

 

[ZRPMs]

Follow the five step rule above. You won't go far wrong.

I built up the core of my collection from best value / price sovereigns. Aim to buy as close to spot as you can. Once you have a base or foundation for your collection then branch out on some more numismatic coins that take your fancy as your knowledge increases in the subject.

Oh and of course, although the welcome is included in the five point step, have a personal welcome from me as well.

[pappin]

Thanks very much for the very prompt replies and great advice to my post.

So glad I found the forum

[James32]

5 minutes ago, pappin said:

Thanks very much for the very prompt replies and great advice to my post.

So glad I found the forum

I will tag you now in a sovereign post, just to give you an idea of price v quality. 

Congratulations on the membership, it will pay for itself in no time.

Edited May 14 by James32

[Esjayc]

1 hour ago, pappin said:

I'm hoping for a bit of advice

Welcome!

All above the advice is good.

Also consider the best value half sovereigns too, if prices are right. When it comes to selling, and with gold (generally over the years, always) trending upwards, the coins you sell may find their way into the hands of new stackers, or those who want to buy a coin here and there - a half sovereign is lighter on the wallet to a buyer, than a full one.

I predominantly stack full 'best value' sovereigns. A few rarities have luckily come up for me in best value. I also obtain best value half sovereigns, at the right price, and even some bullion quarters, at the right price (on a side note, HGM currently have 2022 Jubilee quarter sovs in stock under their 'best value' for anyone interested in those... I phoned them and that's what they told me they all are at current in that listing category).

I'll pick up shield reverse full and half sovereigns at the right price - also utilising the 2021 edition of the 'Marsh' book to check for rarities, and online resources for mintage figures.

The years with unique designs may also carry more interest.

Overall, what you look to stack depends on your budget, buying strategy, and what your desired outcome / plan is for selling in the future.

As a rule of thumb, best value full and half sovereigns will have the lowest premiums compared to other coins.

 

Here's my plan, with my CGT-free gold coin investments, as an example:

I'm in my mid 30's with a low budget - I pick up probably around 10 coins during a year (this amount including full, half, quarter sovs, maybe a 1/10 or 1/4 Britannia).

I'm strict with my budget - I only spend what I can truly afford, and when I can truly afford it.

My aim is to hold long term, hopefully for a 'pension top up' / earlier retirement / second property deposit, etc.

I generally hope to get duplicate years, so that I sell 'duplicate' coins, retaining the higher quality ones of the same year, and the more unusual/rarer ones to either sell last, or pass down the family.

 

Other folks will have different plans, different budgets and strategies. The only 'right' answer, is what works for you 🙂

[Dankanugget]

Welcome 

[Spyder]

I concur with what has already been written.

One thing I would say to you as a new member, take your time and don't rush to buy every good deals (compared to  elsewhere) as better deals will come along.  I have seen it many times new members who have been used to buying from eBay or BBP quickly over buying.  It like going to New York for the first time, while looking up and admiring the tall buildings while someone is dipping into your pocket.

[Thelonerangershorse]

Read as much of the forum as you can, (except the NBS and Hangout.)

Get the £1 membership and read the for sale ads daily.

Look up the rules on Capital gains tax.

Only buy from BBP or the RM if you really really want something.

Whilst silver is tempting, bear in mind it gets very bulky and heavy very quickly.

Don't be afraid to ask for advice or opinions if you are unsure.

[pricha]

I think the problem with best value from dealers is you'll end up with some howlers, ( and possible fakes according to a well known dealer on YouTube recently) And as its best to sell on the forum than to dealers , you will  struggle as most forum members want good condition coins. With your time span I'd go for quality condition and cheapest possible. It often means buying bulk purchases from collectors wanting a quick no nonsense sale.  Buying duplicates if you can bang a bargain is a good idea as you can compare and keep the best one later as you say.  The best deals I've ever seen are on the forum. You have to be very quick and check regularly.