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oliversw5

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oliversw5 last won the day on February 26 2016

oliversw5 had the most liked content!

About oliversw5

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    Kent

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  1. Rwanda African Ounce 2018 - first time in Gold

    Agreed on both counts
  2. wanted Queens Beasts

    good luck
  3. I have pmed you, for others postage is 2.5 up until 10 coins
  4. wanted Half oz colour lunars WANTED

    Ive dropped him a line on fb, when he responds Ill let you know.
  5. wanted Half oz colour lunars WANTED

    I think I might know someone wanting to sell the full set, I don't think he would split mind you.
  6. Gold Monitoring Thread £ only

    They had like 180 1oz brits yesterday..
  7. Hello, I have 45 of these for sale, these are cheap but I am running down some coins I don't wish to keep. They come with plastic flip, they are also advertised elsewhere. Usual payment terms Shaun
  8. Does size matter ?

    I dont disagree with that. eBay is a fantastic tool for most people. regardless of the fees I don't use ebay for two reasons. Firstly, I started selling when my mother was ill and for me it was more about connecting with people which I can't do on eBay, I never thought I would sell so much and actually had intentions of working in the city after my degree. Also I came at this with the idea that I wanted to do it with certain morals, so whilst I can earn more (I probably will charge slightly more due to having more costs now) I came at it from the mind of an investor. I want the people I sell to to have a fighting chance of making money on the coins they bought in the middle to long run. I actually did a trial with eBay. I made more in terms of percentage but reasons above it simply wasn't for me.
  9. Does size matter ?

    I think a lot of people see VAT as the be all and end all, but in reality it doesnt have to be the case, it does add legitimacy to your company and to wider public. Lets forget social media and the silver forum, the vast majority of people will pay VAT for their coins, so the transition is probably not as bad as you would think. My understanding of it is that you would have to have the gold assayed for it to be considered investment gold which kind of defeats the point in your case. The strategy I would take if I was in your shoes would be to increase margin via add ons. Not only make high quality products but also package them in a way that screams quality. That way you stay under the threshold but can squeeze more margin. Yes it is a 12 month rolling period, it has given me headaches. My best month was around 24k in sales, now that is split between gold and silver which gets separated at source. The admin work is a job in itself. Saying that it is rewarding and Ive only added to my stock from my profits...that way to solve what some people struggle with. I have an asset that in the long run should beat the market but I also enjoy the comforts of compounding my constantly flipping. Its a win win. Going back to the OP, we all start somewhere and you don't have to be a dealer to make money, you just have to be savvy and anyone who is willing to learn can do it. I set myself the target of 6000 for the year, Ive more than doubled that but more important than the money. I have met some fantastic like minded people along the way.
  10. Does size matter ?

    I park the bus on silver at the threshold and only sell vat exempt (not 0% gold). If it was 0% vat it would go on the vat figure thus meaning I'd have to register for vat. This is what my accountant has said, I'm no expert on tax law but this is what I have been told so I am inclined to carry on. Now if it turns out he is in fact wrong. Firstly I'll sack him but more importantly I'd change my strategy to higher yielding coins or just go the vat route. There are several dealers that have done it and done it very well.
  11. Does size matter ?

    The point has gone over your head. I've already addressed this point several times. Yet again this is not about me, it's advice for someone who wants to earn some extra income, speaking of which I do have an accountant and do pay income tax on my profits..
  12. Does size matter ?

    We all start somewhere, I have a leg up because my Master's is in international business where I specialised in strategy and culture. So this is fun and games to me. I got into coins because I like the idea that I can look at the coins I have, I can see my pile grow. I own coins ranging from simple maples to the 2004 kiwi coin in mint packaging, I don't even consider premium as its a false economy. As a lot of people know I prefer selling on facebook and I do get people offer me spot, I usually laugh at them and call them cheeky. The reason I can do that is because I understand that there is no fixed price for anything, the price is a spectrum from very liquid to not so liquid. If I sold at 14 quid a ounce, chances are Id sell 1000 ounces in a day. If I sold at 16.75 (my current price) some days Ill sell 100 ounces. You need to work out what sort of return you are willing to accept. I, myself want to make 10% this means I can stay below the VAT threshold and make 13 to 15k a year when I factor in gold. If you are happy making less you will sell quicker and vice versa. As for your points about fakes, this comes with experience. silver you can look at it and should know (pandas especially). Gold for smaller amounts its very simple, is it thicker than it should be...copper you can spot a mile off. I don't even think they fill the bigger bars with tungsten since the price shot up, you best bet is to buy spot plus 3 or lower and have gold as a play on spot. I find buying and selling just as much fun as owning the coins themselves, like I said the more you do it the better you will get at it. One last point, I don't know a dealer who hasn't sold for a loss at some point, its part of the game.
  13. Does size matter ?

    I am building a business doing this myself... I have bought and sold from a 1/20 to a kilo in silver. Anyone who repeats the mantra you will sell at spot, neither has the knowledge or skill set to make money out of this asset class other than luck. To make money you need to 'hustle' for want of a better word. Don't worry about the premiums, have four strategies in mind. 1) buy strong series when they come put and sit on them. 2) See what the benchmark is and beat it with postage in mind...my favourite tactic is to befriend small dealers around the world as different markets value coins differently. By dealing with small dealers you have more room to negotiate a good price as people do business with their friends and also small dealers are price takers rather than price givers. 3) build a core stack that revolves around spot. I sell for spot times 1.3 plus post(for my basic range), I am probably the cheapest guy on the market for coins when people are buying small amounts. Finally 4) diversify into other sizes, this is where you should be making more mark up as the coins are more specialist. I will finish the year up with 2k ounces (most probably), now I understand I have more scope when buying and selling and I certainly have more options when times are slow. But eventually everyone who continues stacking will get to the stage where they are self-sufficient. Buying is a real skill and its something you will get better and better at. Selling is simple, you will be a price taker and will have to work to the bar set (which is usually eBay). What you need to understand is that your coins will have a spectrum in regards of time, consider it like baking. Some coins you can sell straight away, others need some time to cook and others need time to grow. So I propose this, forget about premium. Consider your strategies on buying and time, they are the ingredients you need to succeed.
  14. Does size matter ?

    Buy a mixture of everything, treat coins like shares. You get the premium out the other end if sold properly.