Royal Mint gold prices going up 1 Sep

[goldmember44]

I've just confirmed. So if you wanted to get a gold proof... get it now. I don't know how much it's going to go up, but judging by the gold price's recent rises, it could be a shocker.

It's a bummer I'm skint right now... oh well.

BTW I see the 2019 proof gold sovereign has sold out since last night... yesterday it was at "over 75% reserved". Today gone.

[motorbikez]

LOl RM milking gold price, the gold proofs are already very expensive especially 1/4 ozers.

[MrStacker]

They're already at a silly price imo. Guess I won't be making my first time purchase via RM anytime soon. ;D

[tallyhojim]

Just proofs, not bullion?

[MancunianStacker]

Just proofs!

[goldmember44]

I see I actually misunderstood them... they were not changing all their prices retrospectively, only the prices of new releases -- as we have now seen with the Lunar Year of the Rat gold coins.

1/4 Year of the Rat gold = £530

1 Ounce = £2,100

5 Ounce £9,995

So... that's what we will have to pay for the gold coins of the next Queen's Beast releases, and also the 2020 Britannia. 

Silver prices unchanged (they are already too high!)

[JackKlugman]

1 minute ago, goldmember44 said:

I see I actually misunderstood them... they were not changing all their prices retrospectively, only the prices of new releases -- as we have now seen with the Lunar Year of the Rat gold coins.

1/4 Year of the Rat gold = £530

1 Ounce = £2,100

5 Ounce £9,995

So... that's what we will have to pay for the gold coins of the next Queen's Beast releases, and also the 2020 Britannia. 

Silver prices unchanged (they are already too high!)

Well you don't have to pay them, just don't collect Royal Mint Proofs. They clearly think nothing about all your years of being a loyal customer with this latest increase 

[goldmember44]

1 minute ago, JackKlugman said:

Well you don't have to pay them, just don't collect Royal Mint Proofs. They clearly think nothing about all your years of being a loyal customer with this latest increase 

Well... I'm not gonna take it personally, since we all have to pay the higher prices. But I won't be picking up the Lunar gold anyway, I cannot afford to buy so many different coins... I am restricting myself to sovereigns at the moment.

For those who can afford it... this will be a very exclusive release, and highy collectable. Mintages are also incredibly low... only a lucky few hundred will be owners of those coins.

[JackKlugman]

2 minutes ago, goldmember44 said:

Well... I'm not gonna take it personally, since we all have to pay the higher prices. But I won't be picking up the Lunar gold anyway, I cannot afford to buy so many different coins... I am restricting myself to sovereigns at the moment.

For those who can afford it... this will be a very exclusive release, and highly collectable. Mintages are also incredibly low... only a lucky few hundred will be owners of those coins.

I collect Bullion 1/4 Queens beast gold coins but temporally suspending it while gold is at this record high (£367 per 1/4 ounce is not good value) I will be collecting the QB's silver and the new perth mint  black flag series but that's it. 

[goldmember44]

1 minute ago, JackKlugman said:

I collect Bullion 1/4 Queens beast gold coins but temporally suspending it while gold is at this record high (£367 per 1/4 ounce is not good value) I will be collecting the QB's silver and the new perth mint  black series but thats it. 

You say £367 is not good value... and I agree if it goes too much over spot price, it becomes annoying. I don't think we will see a decrease in the value of gold over the next few years, though. High prices are here to stay, and they can go a lot higher... So if you are seriously collecting the series, don't put off getting your coins, since they're not going to be cheaper later on, only more expensive. 

[watchesandwhisky]

Yeah £2100 per ounce is hardly likely to ever be a good investment so i guess it depends why your buying them. 

Queens beasts and lunar coin proof might be popular now but there is every chance in the future they will just sell around bullion prices. 

Even one off design proof sovereigns are more common now..

Too Much.

 

[JackKlugman]

10 minutes ago, goldmember44 said:

You say £367 is not good value... and I agree if it goes too much over spot price, it becomes annoying. I don't think we will see a decrease in the value of gold over the next few years, though. High prices are here to stay, and they can go a lot higher... So if you are seriously collecting the series, don't put off getting your coins, since they're not going to be cheaper later on, only more expensive. 

I honestly have no idea, but the price of Gold seems to inflate and deflate and at the moment its the highest its ever been in the UK (weak £ has something to do with that) and to be honest I buy the coins mostly because i like shiny precious metals which I can leave my son. I have other hobbies and I won't be spending anymore until prices lower to 2016 levels (which might take years to happen)

[SilverB]

all this talk of higher proof prices, i still can't get over the prices people are trying to get for the bullion Queens beasts!

At this rate, may be cheaper to get a bullion coin, sell it privately, buy a proof from the mint, grade it, then sell that on again (talk about making your head spin )

[goldmember44]

2 hours ago, SilverB said:

all this talk of higher proof prices, i still can't get over the prices people are trying to get for the bullion Queens beasts!

At this rate, may be cheaper to get a bullion coin, sell it privately, buy a proof from the mint, grade it, then sell that on again (talk about making your head spin )

There seems to be huge demand for bullion Queen's Beast gold coins... at least on this forum, it's very visible. Hence those prices people ask don't come as a surprise...

[Midasfrog]

When the Queens Beasts were first out the Lion 1/4 gold proof was £455  price of a 1/4 White Lion of Mortimer add another £75 to that =  £530

1oz gold proof Lion was £1795 price of the White Lion of Mortimer add another £305 to that = £2,100 😜

 

But this second price increase will help the first few issues resale price to increase  until demand drops 🧐

[Pete]

Just thought I would throw this into the discussion.
Proofs are terrific and boxed proofs and proof sets something to admire.
You will pay a high price for a nice coin or set and might believe they will be worth something in the future or retain their premium.
However in my recent experience selling is another matter.
I've essentially "dumped" about 100 grand's worth of perfect proofs getting spot privately and 97.5% spot commercially.
These sets are listed on various well known sites with premiums of up to 80% but when selling you will be shocked.
Only a thought to those who like me believe ( not anymore though ) proofs are worth their premiums.
I had an offer from a coin dealer willing to sell me any gold proofs, boxed individually or in coin sets at 3% over spot as they are not shifting at all.
That corresponds to my experience downsizing my own stack recently.

[Au79]

To everything there is a season...

Beauty is in The Eye of the beholder...

Everything has a price, the price, however isn’t always money...

The Proof we picked up and we left away did not change at all. It is us, human beings, our experience has changed 😶

 

[Ronald]

Gold coins is expensive. The royal mint has many category but you can buy according this category on reasonable price.

[HyHy]

I mean to proof collectors like me who is already 6 coins into a 10 coin series (the QB series btw), I guess I am too deep in the water to not continue buying it. If I don't buy it now directly from RM, eventually I would still buy it from the secondary market. If RM jacked up the price by 50 quid today eventually the secondary market will jack up by 50 as well. Simple, no one wants to make a loss especially its in the secondary market. Given that gold spot price has increased by about 18% so an adjustment of 10% from RM is ok~ish even if its not ideal. Hey no one likes hike in prices but unfortunately this is how capitalism market works and we chose to board this ship!

[goldmember44]

15 hours ago, Pete said:

Just thought I would throw this into the discussion.
Proofs are terrific and boxed proofs and proof sets something to admire.
You will pay a high price for a nice coin or set and might believe they will be worth something in the future or retain their premium.
However in my recent experience selling is another matter.
I've essentially "dumped" about 100 grand's worth of perfect proofs getting spot privately and 97.5% spot commercially.
These sets are listed on various well known sites with premiums of up to 80% but when selling you will be shocked.
Only a thought to those who like me believe ( not anymore though ) proofs are worth their premiums.
I had an offer from a coin dealer willing to sell me any gold proofs, boxed individually or in coin sets at 3% over spot as they are not shifting at all.
That corresponds to my experience downsizing my own stack recently.

That depends entirely on the specific proof coin/set. Not all proof coins are equal, just as not all bullion coins are equal even... 

I very much doubt that this coin dealer would have offered you a 1989 sovereign set, or a 1992, 2012, 2017, 1937 (and I can go on... ) for 3% over spot. In fact as far as sovereigns are concerned, I can only think of a few early 80s and mid-2000's year coins that would be sold for close to spot. As for Britannias, yes unfortunately for some reason, they did not retain much of a premium. This is something that is plaguing the proof Britannias for some reason that no-one can figure out really. I would love to know myself why this is... but proof Britannias just haven't been highly sought after, and have not fetched high premiums with collectors. That's probably why all sorts of different things are being tried with the Britannia franchise, like in recent years they have become 24 carat, and lately they have a different design every year. They are still struggling, though, despite all that... and the Britannia proofs are just not selling out at the Mint. However the 2019 Britannia is showing a bit of promise, it has to be said.

[Howie]

On 03/09/2019 at 11:52, HyHy said:

I mean to proof collectors like me who is already 6 coins into a 10 coin series (the QB series btw), I guess I am too deep in the water to not continue buying it. If I don't buy it now directly from RM, eventually I would still buy it from the secondary market. If RM jacked up the price by 50 quid today eventually the secondary market will jack up by 50 as well. Simple, no one wants to make a loss especially its in the secondary market. Given that gold spot price has increased by about 18% so an adjustment of 10% from RM is ok~ish even if its not ideal. Hey no one likes hike in prices but unfortunately this is how capitalism market works and we chose to board this ship!

Same as me committed. 1 oz Gold QB,s in Proof. I was always led to believe that a limited edition would always fetch a higher premium than an unlimited coinage! Can’t get my head around it! What a volatile Market.

Regards 

[goldmember44]

So, prices went up since this morning!!!

2019 Full Proof Sovereign: £510, up from £450 (but sold out)

2019 Half Proof Sovereign: £270, up from £240

2019 Quarter Sovereign: unchanged at £150

2019 Brilliant Uncirculated, Matt Finish: £450, up from £365 (that's a huge increase of £85!)

2019 Piedfort Sovereign: £990, up from £870?

2019 Five Sovereign: £2,150, up from ...?

Five Coin Set £4,200!

https://www.royalmint.com/sovereign/2019/

[JackKlugman]

2 minutes ago, goldmember44 said:

So, prices went up since this morning!!!

2019 Full Proof Sovereign: £510, up from £450 (but sold out)

2019 Half Proof Sovereign: £270, up from £240

2019 Quarter Sovereign: unchanged at £150

2019 Brilliant Uncirculated, Matt Finish: £450, up from £365 (that's a huge increase of £85!)

2019 Piedfort Sovereign: £990, up from £870?

2019 Five Sovereign: £2,150, up from ...?

https://www.royalmint.com/sovereign/2019/

That is a considerable leap considering they are increasing their margin over spot. They must see people who buy these coins as whales that they can take advantage of. I will continue to collect queens beast silver and 1/4 ounce bullion but other than that done with them 

[Au79]

Does it mean Royal Mint are also telling us this is the new spot price we should be getting use to? If premium remains un-change 🤐

[Shep]

The increase for the BU matt sovereign is extortionate!

I really wonder how they can justify such a jump in price. Although, I’m sure they have no need to, as people will no doubt still buy from them regardless.