Where to sell

[Cornishfarmer]

So if gold gets to £1150 I’ll be thinking of selling a fair chunk of stack.       But where? Know dealers will pay 98% odd but some will be worth more.

if try to sell here who realistically will be paying £1200 for an Oz of gold? Or £300 for sovereigns?      

Anyone sold out stack and what’s experience?

[goldmember44]

To be honest, I think "life will go on" as always. The gold price won't remain at £1150, of course, it will continue to appreciate. And people will continue to buy... sovereigns at £300? People will get used to it

[BackyardBullion]

I think if there are people out there that want to buy gold and buy gold every month or so, spot price gold on the forum will have a good chance of selling.

I have sold 2.5 oz of gold on the forum when spot was around £1100/oz so I could trade up and buy some other coins I wanted. One sales listing lasted 6 minutes, the other one about 12 hours. 

So spot price seems to be a good bet, I have noticed a number of sales threads with generic bullion for 2%, 3%, 4% or even 5% over spot and it just does not seem to sell - or at least it seems that way.

Personally the mentality for me is, I can buy from a big dealer for 3% over, why take the risk on a forum buy from a virtual stranger. If the price is 3% lower that adds up on a £1100+ purchase so people are more likely to take the risk.

My 2¢ anyway, good luck with the sales if/when the time comes!

[Pete]

I have found it near impossible to sell higher value gold on the forum above spot so most goes to HGM where I receive 98% the following day.
I also tried eBay and got good headline prices BUT once you deduct the eBay and PP fees I lost out so would have been better sending to HGM.
Because spot is quite high compared to what we have seen in the past year, personally I would not be buying right now and that's probably the reason many other forum members are sitting tight. A good time to sell of course and that's why I am shifting a fair amount right now.

 

[Downs523]

People will get used to the current prices. I would definitely list them here first as you will earn more money.

[Nick1368]

In my experience forum is a great place to sell 1oz bullion coins at spot price or even premium coins at a reasonable price, having said that  I once sold a 1oz bullion lion for £1470 on this forum, spot was under £1000 at the time 😎

[DarkChameleon]

11 minutes ago, Nick1368 said:

In my experience forum is a great place to sell 1oz bullion coins at spot price or even premium coins at a reasonable price, having said that  I once sold a 1oz bullion lion for £1470 on this forum, spot was under £1000 at the time 😎

That was selling a collector coin...very different thing...but here is a good place to start or run along side other sites...fleabay costs about 13% all in, so think spot minus 13%, some dealers will buy,gold for as little as 75% spot, upto 95% for selling coins like eagles or brits with easy buyers and yes, there will a,ways be buyers when it's just over spot...I always buy gold scrap at 95% spot when fleabay is offering 8%-10% Ebay bucks, as that does reduce the cost to 86% - 90% of spot....not bad for 14k and 18k pieces, as for coins, expect 95% to sell 105% to buy for generic bullion.

[ceegold]

Bullion dealers like Atkinson are good to sell to if you have sovereigns that are not in the best condition , if you have any good grade sovereigns try selling them on  here first.

[Lr103]

4 hours ago, Cornishfarmer said:

So if gold gets to £1150 I’ll be thinking of selling a fair chunk of stack.       But where? Know dealers will pay 98% odd but some will be worth more.

It's still worth asking the dealers, if you haven't already, so you can be prepared if gold hits your target.  I was under this impression that dealers always pay under spot, but decided to call around and was paid $1,600 for bullion gold lions, and $1,700 for griffins a few months ago.  Granted the same dealer sold them each (even back then) for over $2,000.  Another dealer offered me spot 1% under spot for each, so it's worth shopping around.  This was a US based dealer, so it could be that UK dealers always pay spot.  I would also list on the forum.

Interestingly, I also asked for a bid on a 1oz gold lion proof, and they offered spot (I kept it).  So less than the bullion!  Even though supply is high for the BU, demand must be higher, at least in their opinion 😊

(if anyone is interested in more details, please PM me.  I'm hesitant to disclose full deal terms on a public forum)

[Stu]

9 hours ago, Cornishfarmer said:

So if gold gets to £1150 I’ll be thinking of selling a fair chunk of stack.       But where? Know dealers will pay 98% odd but some will be worth more.

if try to sell here who realistically will be paying £1200 for an Oz of gold? Or £300 for sovereigns?      

Anyone sold out stack and what’s experience?

I mind a few years back @HighlandTiger commenting on sovs when they were getting over the  £200 mark and a psychological barrier, folks would bite your hand off now offering them at that price. 

[Au79]

There will be those that doesn’t track the price of gold or silver, and when they begin the journey, that price that they know will be their first reference level. So it is reasonable to say still there will be buyers at any level till there isn’t. The abnormality is when the horde purchase, the rate of price change will be faster than normal.

[ilovesilverireallydo]

11 hours ago, Cornishfarmer said:

So if gold gets to £1150 I’ll be thinking of selling a fair chunk of stack.       But where? Know dealers will pay 98% odd but some will be worth more.

 if try to sell here who realistically will be paying £1200 for an Oz of gold? Or £300 for sovereigns?      

Anyone sold out stack and what’s experience?

If you can post to Birmingham - a few dealers pay 99% - which is the highest I have seen. 

[Tn21]

A few YouTube commentators and PM folks say there could be a time where sourcing gold will come down to a waiting list and price can easily gap. If this happens price would surly be way higher then it is now with buyers still in the market. 

[HawkHybrid]

37 minutes ago, Tn21 said:

A few YouTube commentators and PM folks say there could be a time where sourcing gold will come down to a waiting list and price can easily gap

 

when was the last time that the gold price gapped?

2011? 1980?

 

depending on the relative size to localisation, finding

buyers for a fair chunk of a stack after a sizeable

rise in the gold price could be difficult.

in many cases the local markets is not what is

driving the global average price rise. think of it like

this, the high £ price in gold is a combination of two

things; the global price rise in $ Gold and the

weakening of the £. the $ gold price rise could be

due to demand in the east for the metal. gold is only

a small amount in the total trade of goods a services

in £'s. the exact combination of a big buyer chasing

the local physical gold priced in £'s is unlikely.

people on the forum (who probably already own

at least a little gold) are unlikely to buy larger amounts

straight after a big price rise.

 

if you want to trade the swings then paper gold offers

the best liquidity.

 

HH

[Abyss]

Where to sell big question and something that I have been debating myself. Preferential choice always The Silver Forums and without the TSF I would never been able to backdate Gold 1 oz QB series. Selling and buying on the TSF close to spot easily done but sometimes selling coins appreciated in premiums harder to achieve. When it comes time to sell I would be selling on TSF but also putting items up for sale on eBay / maybe even amazon (cheaper TSF no associated fees). TSF has trusted well established community impossible to replicate elsewhere but the downside to selling on TSF is that it only has 5,000 members and the number of visitors to eBay / Amazon on daily basis runs into tens of millions. Regardless where selling always carry out due diligence.

In the past when selling 1 oz Gold QB Lion on both TSF/eBay had inquiries on eBay asking for a cheaper price allowed me to direct potential buyers to TSF wanted to buy from here instead (hard to achieve but if you have good feedback and reputation it is possible). All photos should have eBay and TSF handle name trying this method.

[Tn21]

@HawkHybrid are you saying that selling park of stack after a high rise in price for arguments sake let's say Au goes to 4000usd do you think it will be difficult to sell ? 

[HawkHybrid]

gold is known for it's consistency in pricing.

it doesn't make big 10% single day moves.

if it does go 10% or more in a short time

frame then it has a tendency to either

a, have a pullback

b, trade horizontal until the averages catches

up.

either way those who know a little about gold

that are willing to buy larger amounts are in no

rush to buy after a big rise.

you can sell larger amounts after a big rise but

this is more easily done by spreading the selling

over time. you can sell to dealers who will

spread the selling over time for you(for a price). 

you can average near a top but unlikely to sell

large quantities into the exact top.

 

I remember someone saying that when silver

was priced at $50 in 2011, dealers were only

paying $40+ dollars. they had raised their

spread, probably because they found it harder

to turn a profit after taking in stock at higher

prices.

 

HH

[DarkChameleon]

5 hours ago, HawkHybrid said:

gold is known for it's consistency in pricing.

it doesn't make big 10% single day moves.

if it does go 10% or more in a short time

frame then it has a tendency to either

a, have a pullback

b, trade horizontal until the averages catches

up.

either way those who know a little about gold

that are willing to buy larger amounts are in no

rush to buy after a big rise.

you can sell larger amounts after a big rise but

this is more easily done by spreading the selling

over time. you can sell to dealers who will

spread the selling over time for you(for a price). 

you can average near a top but unlikely to sell

large quantities into the exact top.

 

I remember someone saying that when silver

was priced at $50 in 2011, dealers were only

paying $40+ dollars. they had raised their

spread, probably because they found it harder

to turn a profit after taking in stock at higher

prices.

 

HH

Considering the likes of China and russia buy in tons, I'd not worry about buyers, there will be middle buyers wanting to buy I  sma,, to sel,in bulk, like dealers buying jewelry by the ounce to add up to kilos to then sell on to refiners.

[JunkBond]

On 15/07/2019 at 22:24, Cornishfarmer said:

So if gold gets to £1150 I’ll be thinking of selling a fair chunk of stack.

We are there mate, get pricing the stuff up. 👍

[MancunianStacker]

Yep it’s been and up and down day today!!! 

[AuricGoldfinger]

£1152 now! Hurry up and sell before it goes up more! Lol

[Cornishfarmer]

1 hour ago, JunkBond said:

We are there mate, get pricing the stuff up. 👍

What should the mark up on 1oz pandas/IOM NOBLE/lunars/st gaudens/double eagles? Spot, 3%, 5%, 7%?

[JunkBond]

Depends how quick you want them to shift. 😉

[watchesandwhisky]

If i were to sell what little i have left now it would probably go strait to HGM or whoever was paying the most. 

Its tough to buy after rises like this, if i was to buy it would only be proofs at similar prices they were fetching before the price rise.

[DarkChameleon]

4 hours ago, Madstacks said:

If i were to sell what little i have left now it would probably go strait to HGM or whoever was paying the most. 

Its tough to buy after rises like this, if i was to buy it would only be proofs at similar prices they were fetching before the price rise.

The only downside to selling your stash off it how long are you going to have to hang onto your cash before it drops sufficient to make it profitable to buy again?.