Collection of coins and bullions need some advice

[Krugerrand]

Hello everyone I am new to the forum and was seeking some advice.

 

Got quite a bit of a collection left to me from my father with a mixture of coins and bullions (about 40-50 in total) with a majority being 1 oz.

 

I have krugerrands, american eagles, bullion bars, chinese panda coins, elizabeth coins etc.

 

I am unsure where or who to sell it to so I need some advice.

 

Should I sell it to a local jeweller or I am better off finding a collector?

 

Any advice would be appreciated

 

Thanks

 

EDIT: I am located in the U.K

[Norskgeld]

Hi Kruger,

I am new to this and I stand to be corrected by more experienced members but I would think you would get around spot price for your coins at a jewellers.

This is not so bad if you only have pure bullion coins but you could almost certainly get more for semi numismatics and proof coins or graded and slabbed coins from a collector.

The jeweller will not care if your coins have any collector value.

I am sure if you post a photo on the forum of your coins you will get some better advice.

Hope this helps.

Rob

[BackyardBullion]

@Krugerrand Generally speaking you will get between 95% and 97% for your bullion gold from dealers depending on where you sell it. You also have to factor in posting it to said dealer if not local. 

I guess your decision is going to come down to how fast you are looking to sell them - quickly all in one go with a dealer or slowing on private sales. 

You could probably get 100% or 102% for your bullion gold on a forum like this - but as you are a new member and seller be prepared for buyers to be cautious. You might have to even send your gold off to an established and respected forum member to get them to verify it is real before they pay you. This is actually the same as you would do with any bullion dealer so it shouldn't be too much of a hassle if you are a genuine seller and the gold is real. 

As to what coins have more value around their numismatic qualities or proof coins you will need to do some research on what things have sold for and how often they come available. Check eBay completed listings as a rough guide, but remember that spot prices would have been different when the coin sold so always best to try and calculate the premium over spot price for them and go from there. 

Would love to see some photos of the collection and I am sure like many on this forum we will maybe have some knowledge of what things might be worth!

[Krugerrand]

53 minutes ago, Norskgeld said:

Hi Kruger,

I am new to this and I stand to be corrected by more experienced members but I would think you would get around spot price for your coins at a jewellers.

This is not so bad if you only have pure bullion coins but you could almost certainly get more for semi numismatics and proof coins or graded and slabbed coins from a collector.

The jeweller will not care if your coins have any collector value.

I am sure if you post a photo on the forum of your coins you will get some better advice.

Hope this helps.

Rob

Thanks for taking your time to reply to my post.

 

46 minutes ago, BackyardBullion said:

@Krugerrand Generally speaking you will get between 95% and 97% for your bullion gold from dealers depending on where you sell it. You also have to factor in posting it to said dealer if not local. 

I guess your decision is going to come down to how fast you are looking to sell them - quickly all in one go with a dealer or slowing on private sales. 

You could probably get 100% or 102% for your bullion gold on a forum like this - but as you are a new member and seller be prepared for buyers to be cautious. You might have to even send your gold off to an established and respected forum member to get them to verify it is real before they pay you. This is actually the same as you would do with any bullion dealer so it shouldn't be too much of a hassle if you are a genuine seller and the gold is real. 

As to what coins have more value around their numismatic qualities or proof coins you will need to do some research on what things have sold for and how often they come available. Check eBay completed listings as a rough guide, but remember that spot prices would have been different when the coin sold so always best to try and calculate the premium over spot price for them and go from there. 

Would love to see some photos of the collection and I am sure like many on this forum we will maybe have some knowledge of what things might be worth!

 Thanks for you reply BackyardBullion I will try to take some pictures and post them either by the end of this week or beginning of next week.

[Kman]

Need to list out exactly what you have, names and dates, or provide pictures

Depends on your location and what type of coins you have as to where it would be best to sell them. 

[Panda82]

I can the pandas off your hands at bullion price 

[Photoplay]

The last place you want to go in Uk with bullion coins is a jewellers 

[Goldmick]

18 hours ago, Photoplay said:

The last place you want to go in Uk with bullion coins is a jewellers 

This is true my jewellers pay £180 for sovereign.s and sell them for £280 £300 and as for silver they only pay for 925 silver even if 999 silver 

[Cornishfarmer]

i passed a cash converters (or one like) when christmas shopping the other day and they had a 1909 sovereign 'on special' for £635. didnt go in and ask for a discount!!!

[Pete]

Well known businesses like Atkinsons, BullionbyPost and HGM will generally give 98% of spot price for gold coins.
You will only get bullion prices for proofs or numi coins as all they pay you for is scrap weight in fine gold.
An advantage is you could sell all your coins in one deal and have the money in 24 -48 hours.
Remember there are 22 ct coins as well as 24 ct coins so if you google your coin you can see how much 24 ct is in the coin in establishing its spot value.

Forum members will pay spot or spot + 2 % or thereabouts, more for good proofs etc., so you stand a much better chance of getting a higher price selling here.
Pictures are a must if you want to attract a buyer or at least a full description with an offer to take back if it is not as described.

Forget a walk-in jeweller or any business than advertises we buy gold, but if that's convenient be sure to check the spot price of your gold on the day and haggle.

A good place to start selling is here, but as we know the bullion market prices, if you ask too much it will not sell.
eBay might appeal but work out the selling fees and PayPal fees and weigh up the risks posed by some unsavoury buyers.