Scratch on the Queen's Beasts 1/4 Gold BU...

[AlphaBeast]

Hey

I took the plunge and purchased the 3 BU 1/4 Gold coins of the Lion, Griffin and Dragon..Big investment for me especially as being a newbie..

I received them today and all look great apart from the Lion coin, the is a small nick on the queen's neck, below her ear ring - what should I do? Should I ask for a replacement seeing as it was advertised as 'New' on the site?

Thanks 

 

 

[BackyardBullion]

2 minutes ago, jssagu said:

Hey

I took the plunge and purchased the 3 BU 1/4 Gold coins of the Lion, Griffin and Dragon..Big investment for me especially as being a newbie..

I received them today and all look great apart from the Lion coin, the is a small nick on the queen's neck, below her ear ring - what should I do? Should I ask for a replacement seeing as it was advertised as 'New' on the site?

Thanks 

I suppose it depends on a few things...

Are these just bullion for you? Are you planning to get them graded? If so then definitely  get a replacement. 

Is it a long term investment? If so then they will appreciate with the natural gold price over time and regardless of condition they will always be worth their weight in gold (to coin a phrase) so this ding will really not impact it that much. 

Enquire as to how you might return/replace and whether this will cost you and how much it will cost you. At the end of the day they are BU coins and some small nicks and scratches are part of the parcel sometimes. 

If it was me, I wouldn't be bothered as they would go in the pension pot and not be sold (hopefully) for another 30+ years. 

[AlphaBeast]

3 minutes ago, BackyardBullion said:

I suppose it depends on a few things...

Are these just bullion for you? Are you planning to get them graded? If so then definitely  get a replacement. 

Is it a long term investment? If so then they will appreciate with the natural gold price over time and regardless of condition they will always be worth their weight in gold (to coin a phrase) so this ding will really not impact it that much. 

Enquire as to how you might return/replace and whether this will cost you and how much it will cost you. At the end of the day they are BU coins and some small nicks and scratches are part of the parcel sometimes. 

If it was me, I wouldn't be bothered as they would go in the pension pot and not be sold (hopefully) for another 30+ years. 

It was going to be a long-ish term investment, maybe not 30 years, maybe more 10-15 years. The only reason I am doubting is because if a potential buyer was interested, the nick could put them off from mine and someone else's who doesn't have a nick, especially in a prominent area?

[BackyardBullion]

Just now, jssagu said:

It was going to be a long-ish term investment, madbe not 30 years, maybe more 10-15 years. The only reason I am doubting is because if a potential buyer was interested, the nick could put them off from mine and someone else's who doesn't have a nick, especially in a prominent area?

Yes this is a possibility but at the end of the day none of us knows how much (if any) premium would be on these coins in 10 years time. So if it is free to change it for a new one then do it. If it is going to cost you money to send back and have a new one sent out then probably just writing it off to bad luck. 

You will always be able to sell this coin to a dealer for 98% spot regardless of condition so you may lose out on a small premium but you will definitely be able to sell it. 

An example today. Atkinsons has them listed for £275 which is about a 14% premium over spot. If gold doubles in 10 years then spot value alone will mean your coin is worth £500. If you had a perfect one and tried to sell with a 14% margin your sale price is £570. 

So the difference can be significant but we just don't know where premiums will be then!

[Kman]

If you aren't happy with it, ask for a replacement 

I think they come in tubes to the dealers? so scratches and dings aren't going to be too unusual though

 

[AlphaBeast]

6 minutes ago, BackyardBullion said:

Yes this is a possibility but at the end of the day none of us knows how much (if any) premium would be on these coins in 10 years time. So if it is free to change it for a new one then do it. If it is going to cost you money to send back and have a new one sent out then probably just writing it off to bad luck. 

You will always be able to sell this coin to a dealer for 98% spot regardless of condition so you may lose out on a small premium but you will definitely be able to sell it. 

An example today. Atkinsons has them listed for £275 which is about a 14% premium over spot. If gold doubles in 10 years then spot value alone will mean your coin is worth £500. If you had a perfect one and tried to sell with a 14% margin your sale price is £570. 

So the difference can be significant but we just don't know where premiums will be then!

I will see what they are especially as I want to get the unicorn next so hopefully they will be nice!

Guess I just want as 'new a coin' I can get especially paying the amount I have even if it is the average spot price...

[AlphaBeast]

2 minutes ago, Kman said:

If you aren't happy with it, ask for a replacement 

I think they come in tubes to the dealers? so scratches and dings aren't going to be too unusual though

 

Yeah - I will see what they say, fingers crossed especially as it's the lion, one of my favourites.

Yeah, they do come in tubes, was praying I wouldn't have anything noticeable but alas that is life! lol

[fehk2001]

2 minutes ago, jssagu said:

I will see what they are especially as I want to get the unicorn next so hopefully they will be nice!

Guess I just want as 'new a coin' I can get especially paying the amount I have even if it is the average spot price...

To be fair , it's not that bad for a bullion especially lion and u buy it late 

[AlphaBeast]

7 minutes ago, fehk2001 said:

To be fair , it's not that bad for a bullion especially lion and u buy it late 

Am I being too picky? Although will see what they say as do want the unicorn as well..

[Goldmick]

I'm sure they will say it's a bullion coin I know this because I had a small mark on a silver coin 5oz one and they said it's just bullion coin. It's a very small mark and won't effect the value 

[fehk2001]

18 minutes ago, jssagu said:

Am I being too picky? Although will see what they say as do want the unicorn as well..

Me personally thinks these are rejected/ returned  lion 1/4 from " before they pull the production "  ,  so I would expect non of these coins are perfect (69-70) 

 

[Goldmick]

17 minutes ago, fehk2001 said:

Me personally thinks these are rejected/ returned  lion 1/4 from " before they pull the production "  ,  so I would expect non of these coins are perfect (69-70) 

 

Makes sense I sent my 3 I got from them to numi for grading only the lion got a 68 the other 2 got 69

[fehk2001]

7 minutes ago, Goldmick said:

Makes sense I sent my 3 I got from them to numi for grading only the lion got a 68 the other 2 got 69

If that's lion and from Atkinson that's great result 69 , I have seen members get worst coin than jss from Atkinson 

[Goldmick]

4 minutes ago, fehk2001 said:

If that's lion and from Atkinson that's great result 69 , I have seen members get worst coin than jss from Atkinson 

Yer I asked them for good coins and that I was grading them and I'm a good customer lol

[fehk2001]

1 minute ago, Goldmick said:

Yer I asked them for good coins and that I was grading them and I'm a good customer lol

70 needs some luck  69s are good results 

Maybe you can break the slab and resubmit 2x 69 see how it goes ? 

I think Atkinson did look after u 

[AlphaBeast]

5 minutes ago, fehk2001 said:

70 needs some luck  69s are good results 

Maybe you can break the slab and resubmit 2x 69 see how it goes ? 

I think Atkinson did look after u 

What grading would I get based on the small nick??

[fehk2001]

2 minutes ago, jssagu said:

What grading would I get based on the small nick??

Take the coin out take some picture and ask forum member nicely to poll 

[AlphaBeast]

1 minute ago, fehk2001 said:

Take the coin out take some picture and ask forum member nicely to poll 

Lol okay sure! Will see what Atkinsons respond with tomorrow especially if I pre-order the unicorn with them..maybe they be nice and give me a 70 graded coins for both!

[Goldhooked]

I had similar on a 2017 bullion sov but the 'dimple' is on the queens cheeks (see my thread about it).  It bothered me a little to begin with but I decided to keep it in the end as in umpteen years time it will still be in better condition than the early 1900 sovs I have but they'll all be worth the same.

[NorthBen]

It's a tricky thing buying coins without seeing them first. I have always bought mine face to face, but it looks like I'll be using either Atkinsons, Chard or HGM soon and buying second hand coins online. does worry me a bit, but it just can't be helped. 

Do these second hand/secondary market dealers have a cut off point where a coin is too battered to sell? Sorry if this is a thread hijack, should probably open a new discussion!

[AlphaBeast]

39 minutes ago, Goldhooked said:

I had similar on a 2017 bullion sov but the 'dimple' is on the queens cheeks (see my thread about it).  It bothered me a little to begin with but I decided to keep it in the end as in umpteen years time it will still be in better condition than the early 1900 sovs I have but they'll all be worth the same.

Yeah suppose, guess I am more about whether gold will increase in price rather than the coin quality although would be nice to have a pristine set.

[AlphaBeast]

26 minutes ago, NorthBen said:

It's a tricky thing buying coins without seeing them first. I have always bought mine face to face, but it looks like I'll be using either Atkinsons, Chard or HGM soon and buying second hand coins online. does worry me a bit, but it just can't be helped. 

Do these second hand/secondary market dealers have a cut off point where a coin is too battered to sell? Sorry if this is a thread hijack, should probably open a new discussion!

Someone mentioned just buying off the RM site; that way you can return your coins if you're not happy for free even if they do charge a bit more than others. Guess it's up to us as persons, what we are happy with...

[NorthBen]

RM? Do you mean Royal Mint? Sorry I'm new on the forum! I didn't know they did second hand....

[AlphaBeast]

Not second hand, apparently they send you as new, but then you can ask them a replacement if you're not happy, they refund back your delivery as well.

Hope somebody can confirm? @fehk2001

[fehk2001]

Yup