Tips For Flips

[Keithoil]

If you know of something that might be worth buying to flip then then let the silver forum know even of you are not buying.

 

The Royal mint £20 for £20 are now at 98% sold!!!

 

They may well be sold out in 8-10 weeks so if you want some to flip now is the time.

 

I have just had 3 more delivered today to flip for a huge profit!!!

 

Keith

[Danny-boy]

Stock horses.

Australian lunar series 2.

Somali elephant.

Rwanda wildlife.

China panda.

Canada wildlife series 2.

Canada 1.5oz jobbies.

Britannias.

All good for a small profit flip in my opinion.

Dan

[Danny-boy]

And for the record, and I might be wrong, if the £20 for £20 was worth a flip, it probably wouldn't have taken over a year to "fly" off the shelves.

[Keithoil]

Yes I know but just wait until they have sold out, every man and his dog will want them. HaHa I really hope so

[Pete]

From where can you expect to be guaranteed to sell for £20 ?

Ever tried passing one over the counter in a bank ?

[Keithoil]

No I have not have you.

 

I would guess that most places would probably decline them!!

[Pete]

Never tried but you are right.

I have the same query regarding Canadian coins that have a face value of $20

I very much doubt a Canadian bank would exchange for currency.

[Danny-boy]

They have to by law!!!

[SilverPirate]

I looked at the Royal Mint web site the £20 for £20 look very nice, surely they would command a premium in years to come, maybe not a massive premium but increase never the less.Tempted. I have been trying to make my mind up on a purchase this week and can't make my mind up, it all looks so damn shiny i want it all.

[woody65]

The £20 coin is supposed to be legal tender but we all know that you won't be able to pay for goods and services with them. In theory if you wanted to exchange it for cash a bank should take it. Wonder if anyone has tried?

In years to come you are relying on the price of silver to increase or the coin to become more desirable/collectable because if you exchange them for cash in a few years inflation will have eaten away at it's spending power.

That said I've got some myself, mainly because I like the look of them, and I think that silver will go up plus the £20 coin will become sought after.

[klacey]

Doesn't mean silver wont one day be able to be used as a form of money. I think 10 states in America accept it as currency.

[ChrisSilver]

Once they have sold out I will probably sell 9 of them that I have. And reuse the money to put towards a roll of kooks or something.

[Pete]

They have to by law!!!

On the surface you would believe this BUT following another forum I recall some while back a thread discussing this subject and folks in the USA and Canada were pointing out that banks were not willing to exchange silver coins like Eagles and Maples ( even though legal tender ) for cash.

[ChrisSilver]

If you have any problems using your coins to buy things in shops, you can always take the coins to THE BANK OF ENGLAND.

[Pipers]

Just bought 4 I'll give them as gifts to my kids at Christmas.  Can't loose, £20 coin for £20 can always take to a bank as it is legal tender.

[HelpingHands]

Re: £20 coin.

 

No businesses have to accept any particular note or coin for goods (maybe you've been told by a shop that they won't take a £50 note).

 

Without fact checking I would say that banks should take all legal tender and all legal tender 'should' be taken to pay a debt.

 

Out of circulation banknotes can always be redeemed at the BofE..

[Dave]

They have to by law!!!

. Read on another forum, member took 20 for 20 cad dollar coin to bank, rule was that coin can only be redeemed by bank of Canada , main bank , 12 week wait to process , and money credited to your account only, no cash, That's why the Canadian 20 for 20 has died a death , with only collectors trying to fill sets, no flip potential

[Pete]

Re: £20 coin.

 

 

Out of circulation banknotes can always be redeemed at the BofE..

Where can I find a branch of the BoE that is open to the public with a teller willing to exchange old notes or legal tender fine silver coins ?

[Dave]

Where can I find a branch of the BoE that is open to the public with a teller willing to exchange old notes or legal tender fine silver coins ?

. I think you have to go to THEE Bank of England , fill in paperwork,

[silversword]

The £20 coin - let me get this straight. It's half an ounce of fine silver, and after postage you'll be paying nearly twice spot value for it. Will it really appreciate enough to be worth it, with a run of 250,000 coins?

 

Re: Bank of England, there's only one "branch" as far as I know, but they will take any coin or paper note as long as it was once legal tender

[ChrisSilver]

The £20 coin - let me get this straight. It's half an ounce of fine silver, and after postage you'll be paying nearly twice spot value for it. Will it really appreciate enough to be worth it, with a run of 250,000 coins?

 

Re: Bank of England, there's only one "branch" as far as I know, but they will take any coin or paper note as long as it was once legal tender

 

Postage from the mint is free if you order over £45, or if you use a coupon code. They are already going on eBay for about £25 I think. As soon as the mint has sold out I recon you could sell some on eBay to people who have missed out on them. could make a couple of pounds. 

£2 profit on each coin, if you buy the maximum per household of 10. Then that's £20 profit. Enough to buy an ounce of silver, or a free £20 coin

[Pete]

Postage from the mint is free if you order over £45, or if you use a coupon code. They are already going on eBay for about £25 I think. As soon as the mint has sold out I recon you could sell some on eBay to people who have missed out on them. could make a couple of pounds. 

£2 profit on each coin, if you buy the maximum per household of 10. Then that's £20 profit. Enough to buy an ounce of silver, or a free £20 coin

A lot of work for very little gain.

[Danny-boy]

A lot of work for very little gain.

I'm with Pete on this one.

[ChrisSilver]

Why is it a lot of work? It's a free ounce for very little work.

If you earn £78k per year and work 37.5 hours a week. £20 would equate to 1/2 an hours work.

If you earn £19.5k per year and work 37.5 hours a week. £20 would equal a massive 2 hours of work!

If you are willing to work for someone and to earn at the above rates, why wouldn't you be willing to make an extra £20 for very little work.

The only real time consuming part of it is going to the post office, listing on eBay just takes 5minutes.

Even if you earn loads more, if you just just have a little spare time it's worth doing. It's free money! And don't say you don't have free time. If you have time to be on this forum you have enough free time to sell a few coins!

[HelpingHands]

The ones who did the best with the £20 coin got it out to friends in the U.S who listed it for $80-$100 ish when it was first released.