Selling sovereigns

[walesdave]

Hi All,

As I've posted before, I've been collecting sovs purely as a way of storing wealth (rather than spending the cash).

Now the gold price is rising I'm thinking it might be time to sell up - grab the cash and run. The plan has always been to cash in and use the funds for a house deposit, and we're now looking to move so the rise in spot is really good timing!

Anyway, enough waffle, my question is....if the (sell) sovereign price at Atkinsons hits £220 then I'm in the car, up the M5 and selling the lot....or is there a better way to sell?

I've looked on Atkinsons and they appear to offer pretty close to spot price for sovs, so is there an easy way to get better than spot? I've got x50 coins and don't want to sell them one by one but don't mind splitting into 2 or 3 lots. I'm worried if I do any sort of private sale I'll get ripped off or robbed (if it's face to face).

Advice gratefully recieved

Cheers

David

p.s. Don't bother asking to buy them yet - price isn't quite high enough at the mo :-)

 

 

[Paul]

What you suggest sounds like the best plan.

Atkinsons are nearly always 97%-100% for gold.  

In times of high demand, they pay 100% with no grumbles or moans

Sovereigns are the best core gold coin for UK buyers, so doubt they would have any problems taking x50 from you to re-sell.

x50 @ £225 = £11,250 deal best done face to face, bank transfer payment from them and worth your half tank of fuel for the day out

Of course arrange appointment and agree sale prior to travelling up to Brum

You would be hard pushed to find a private buyer to pay spot or more, spot +1%-2% for the same reasons of security/ripped off robbed.  

I certainly wouldn't, spend £10k+ with someone I don't know, haven't met or trusted in past

 

[morezone]

Paul has pretty much covered it.  Bullion dealer is your best bet for such a large qty.

You could get a coupe of % more splitting and selling privately but you would be talking a lot of work since most buyers will be for just the odd one or two.

[sovereignsteve]

Depends what you have. If you have a few/some collectable quality, you might be best trying to offload these privately first at better than spot, then taking the rest to a bullion dealer.

Not much of a problem to deal face to face with sovereigns as they are easy to verify. So long as the security aspect is sorted, deals of several grand in cash needn't be a issue.

[Stu]

If they are all shields @sovereignsteve will buy them?

[sovereignsteve]

LOL

spent up!

[Guest]

I am not a seller at these prices as my motivation is not short term profit but medium term wealth improvement. I am a buyer if good value rare numismatic gold that is now cheaper relative to bullion.

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[walesdave]

Thanks for the advice guys....just as I though, there isn't a 'secret' gold buyer offering massive % over spot!

Spoke to Atkinsons, very nice people from the way they deal with daft Welshmen, as you say Paul - just need to call ahead to make sure someone is available to check the coins and they'd be happy to have them.

Afraid it's all just bullion coins, nothing special that I know off; nice lady at Atkinsons did say they are very fair to sellers and if there is something special I didn't know about, they'll say so and adjust their offer.

So, just hoping for a little more of a price hike and off to Brum I go! Way things are looking, I think just before the Brexit vote next week might hit my target......but then do I hold on and see what the vote outcome is and if we do Brexit does the spot price shoot even higher??? 

 

[Guest]

Sorry Tapatalk destroyed my original post

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[walesdave]

Just now, Numistacker said:

Sorry Tapatalk destroyed my original post

Sent from my iPhone using Tapatalk

Must be getting old....Tapatalk is when I'm swearing at the damn thing trying to change a washer!! 

[TheGoldSovereign]

3 minutes ago, Numistacker said:

It looks like everyone wants to sell and unload right now. Do you guys believe we are at the top of the market? Sellers.. Why are you selling? Buyers... Why would you buy at these huge prices?

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I am not a seller at these prices as my motivation is not short term profit but medium term wealth improvement. I am a buyer if good value rare numismatic gold that is now cheaper relative to bullion.

Sent from my iPhone using Tapatalk

I *want* to buy, but I never like buying in any market after such a spike, I usually wait a short while at least.

Looking forward for this year though I don't expect current prices will be considered high, the potential brexit will probably have more impact on buying prices than actual gold price movement, meaning it depends what currency you are holding and then buying your gold with

[ApisMellifera]

Great tips all... as usual.  

@walesdave Should you eventually sell, I was just wondering why you are considering the whole lot and not consider to preserve a small portion of the sov's.

[walesdave]

11 hours ago, ApisMellifera said:

Great tips all... as usual.  

@walesdave Should you eventually sell, I was just wondering why you are considering the whole lot and not consider to preserve a small portion of the sov's.

Hi Apis,

Need to sell the lot for a house deposit (5% of 300k = just about all my sovs + my small silver stack + an extra couple of quid).

Once we move and things settle down, I'm sure I'll start collecting again - it's definately a bug!!