Selling sovereigns

[Goldbrittanialover]

Where is the best place to sell a sovereign? Bought one early 2019, thinking might be fun/worth having one for the brexit year, but now this is starting to look very unlikely and gold prices are going up and up!! 😕. The new Britannia is out so want to buy one of these asap, thinking about selling it back to royal mint but the price is really bad, have never liquidated gold before.

Thanks for suggestions in advance. 

Goldbrittanialover

[Goldbrittanialover]

The Soverign is just bullion standard, nothing special.

[Norskgeld]

Try The Silver Forum...you may have heard of it!!! 😎

You may be able to part exchange your sov plus a bit of cash for a Britannia.

[Goldbrittanialover]

I have 2 tubes of 25 2019 silver brittania's I bought from european mint too ;), but looking to sell those when the gold silver ratio increases, which may take a while. Hoping to use the funds to make a profit to buy the next gold brittania cheaper!

I see. How do you sell on here? 

[Goldbrittanialover]

Nevermind, I found it.

[Goldbrittanialover]

Is there anywhere else that people go to? I've looked at bullionbypost and they seem slightly better as will pay for the sovereign, rather than the metal weight. A dealer would be better? Or do people find better deals on here. I've seen videos on yputibe of people selling on ebay and its frought with risks.

 

 

[ST1986]

https://atkinsonsbullion.com/

https://www.hattongardenmetals.com/

 

[Goldbrittanialover]

Thanks ST1986, that definitely a lot better again. Does anyone know if prices to sell on the weekend are reduced, compared to the week? (irregardless of spot price, obviously aware that will fluctuate). Seems like the spot buy price is pretty low to me vs. sell?

[Goldbrittanialover]

Have been caught out here a few moons ago buying bullion, or is it that the Sell price is jacked up on the weekends?

[Roy]

How much is it?

[sovereignsteve]

You will always do better on here than dealers who will give you less than spot.

[Elements]

Yeah I agree. Dealers paying about £270 for a full. I’d say on here you’d probably expect to get between spot and best value from a dealer like Hatton so currently between £275 and £285.

https://www.hattongardenmetals.com/buy/gold-sovereign

11 minutes ago, sovereignsteve said:

You will always do better on here than dealers who will give you less than spot.

 

[TheGeneral]

Have you sold it yet? 

[Pete]

I've sold a lot of sovereigns in the past few months so can share my experience.
The best prices I obtained were spot or marginally over spot selling to fellow forum members.
Note these were never listed and were sold to people who contacted me privately.
[ In case anyone enquires I am not selling any more for the foreseeable future ]

The best prices from any dealer including HGM ( I actually visited in person to hand over a box of gold coins ) was 97.5%
Forum members can check Atkinsons and HGM, Chards etc to compare prices and these dealers will generally be adding between 3 and 5% over spot depending on the gold price itself and the demand from buyers. That means a buy /sell spread of typically 5 to 7%.

Faced with buying from HGM and a forum member ( depending on feedback score etc ) there is zero risk from HGM so to buy from a forum member, a buyer would be looking for a lower price that makes it worthwhile. I found it difficult to sell over spot irrespective of coin condition.

Conclusion - list it here and if wanting a quick sale ask for spot only.

[Goldbrittanialover]

I see, I will carry on posting untill l can trade. Not sold it yet, Brexit still may happen albeit unlikely :/. WWill also keep an eye on prices

[Roy]

This whole thread makes no sense 😶

[Goldbrittanialover]

My apologies, was typing quickly at a speed awareness course . What I meant is, to sell on here you have to be a premium member or have enough posts to be allowed to list a coin. 

 

Thanks Pete, that's very helpful.

 

So does anyone know if or why the buy/sell spot gold prices get wider on the weekends?? 

 

[JunkBond]

1 minute ago, Goldbrittanialover said:

 to sell on here you have to be a premium member or have enough posts to be allowed to list a coin.

 

No but some reputation will help with building trust.

[Goldbrittanialover]

I think I will probably go to a dealer, HGM looks good but Atkinson's looks like it gives the best price at the moment. Especially if there is a ranking/feedback system to contend with here. I am not looking to sell a lot over the next few years. Just build up my little stack

[richatthecroft]

1 hour ago, Roy said:

This whole thread makes no sense 😶

Makes no sense to me either....

 

8 minutes ago, Goldbrittanialover said:

I think I will probably go to a dealer, HGM looks good but Atkinson's looks like it gives the best price at the moment. Especially if there is a ranking/feedback system to contend with here. I am not looking to sell a lot over the next few years. Just build up my little stack

Why not pitch your Sovereign in the sales section above the dealer offer price and if it sells then you can put that extra bit of cash toward your next purchase or put the difference in a charity box- better than giving cash away to the dealers. 

 

[Goldbrittanialover]

Stack so far :). Have receipts and even the little barcode thingy on the box for the sovereign. (Covered my address obviously).

I think to list something you need to post a lot of comments? Or am I wrong on this?

[Stu]

I believe eve you have to make a certain number of posts before you can list but it's not many. Good luck with the sale, if you can get a seasoned member to purchase you will do fine. 

[Goldbrittanialover]

I see, thanks Stu. Are people very picky about the condition of the sovereign?

 

It's bullion standard and it has a very shallow scratch (you litterally need to squint to see it) on the queen's head side. The rest of the coin is untouched (I mistakenly wiped it with my fluffy dressing gown and it left a mark!) Fail.

[Foe]

No people aren't picky, at least stackers (but obviously use the state of the coin to their advantage). But I would say compared to dealer you can't lose listing here. Anything close to spot will fly away. Trusting brand new member is another issue though.

[Goldbrittanialover]

That's good to know, as I totally massacred the coin with that dressing gown!!! Still upsets me, how can a fluffy dressing gown do so much damage (probably should have read the thread about not touching the coin on here no doubt! Haha).

This is true, sad state of the world. I'm not selling at spot I'm afraid, I'd like to get more than that. I trust the royal mint first and foremost myself, but I want more than they can offer. Will wait to see what happens at 10pm when the market goes live. 

I'm not sure, but I swear that the buy/sell spread decreases on the site when the market opens. I stand ready to be corrected on this haha.