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Amazing

Do you buy new or secondhand gold?

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I'm looking to get into gold, and it seems like random year sovereigns and 100 Euro German coins are the chepeast, with only a few percent over spot. What's your opinion on second hand gold?

Trying to decide if I should buy a new 1 oz Krugerrand or a few sovereigns and a 100 euro coin. 🤔

 

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I like sovereigns and quarter oz sizes because if you are not selling back to a dealer, someone (e.g on this Forum) can usually afford to buy them back.

Should gold double in price (you never know), less people will have £2,000 to hand than £500. Just a thought! 😉

You want a smaller coin / bar with the lowest % over spot possible I think.

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I like buying older sovereigns as I try to imagine where the coin has been all those years and then look up what went on in that year as well. Makes it more interesting to collect compared to new sovereigns where they come straight from a bullion dealer and into storage for me.

When I first started buying gold I only wanted 24 carat coins but the price went up and sovereigns being a little more affordable made me start buying them. I still buy 1/4 oz gold coins but not as much as when I began.

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Its an interesting question. Stacking in general is so much easier to maintain when you are happy with your stack. For example, the scattershot of my silver stack was seriously denting my enjoyment of stacking generally. I've now made concerted efforts to tidy my stack and develop a deliberate stacking technique and Im so much more content. The question is does it matter to you if a coin is less than perfect? If so, is that for all coins or only a subset?

For me, as long as the gold coin has been well looked after Ill take it. It doesnt have to be brand new, but as close to perfect as possible is what I go for. I know people say gold is gold etc but what fun is there in looking at a beaten up coin when for a few quid more you could get something thats nice to look at too. Sovereigns are different though in that they are mostly in obviously used condition, but thats ok with me as sovereigns are a special coin. In fact I would go as far as saying an uncirculated sovereign looks really odd and not at all attractive, whereas a 100 year old with some wear looks lovely.

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I don't care what my coins / bars look like because I don't look at them.

I go for functionality and reduced cost so, as Mancunian Stacker said above: "You want a smaller coin / bar with the lowest % over spot possible...".

 

I buy the smallest fractional I can get for the lowest premium I can afford.

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A healthy mix of fractional gold (mostly sovereigns and francs) and some 1 oz coins mixed with some bars, is my way of spreading the risk. If I can pick up a sovereign or gold francs close to spot, I never hesitate. The fractional coins get a good premium on the secondary market, and will be more manageable if the gold price should go to the moon. My 100 g. bars will be much less liquid if only the market makers can afford them.

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I would first go around to local coin shops and see what they will buy from you at the best price.  I live in Boston and started buying 1/4 oz Queens Beasts only to find out that if I wanted to sell them locally I wouldn't get nearly as much for them as I would for 1/4 oz American Eagles or pre-33 American gold, simply because it would be harder for the local shops to sell QB's than American coins. For some it isn't an issue because they don't plan on selling them, but you never know what could come up and you need cash immediately and can't wait for the best price on eBay or from Apmex. I still plan on completing the 1/4oz QB set because it is only a small part of my gold stack. But I wish I had done my research first. 

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