Selling gold coins, expectations vs Reality - A professional gold dealer gives advice
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- čas přidán 16. 02. 2022
- Hello and welcome to my channel!
I am a full-time gold and silver coin dealer trying to educate the market 1 video at a time. If you like unboxings, want insight into how the market works or just want to hear me rant about the market then this is the channel for you :D I also show lots of wonderful Shiney from Bullion to Numismatic.
If you like something you see and you want to buy or equally if you wish to sell to me feel free to email me at Shaun@backthemetal.com
If you want to be involved in the social medial community please join the Facebook group where I also trade at:
/ 168277720698825
Please note however all applications are vetted, the group has a responsibility to look after the people in it. :)
For the record, as much as I do understand the inner workings of how the coin business works, I am not qualified as a Financial Advisor, so any information from these videos should not be construed in any way shape or form as financial advice. - Krátké a kreslené filmy
Not a fan of subscription fees
Its finding the balance my end. I dont want it to be a cash grab but I dont have the time to take it where I want to. Thats why I asked rather than simply did. If it was up to me I would just put everything out for free but I am stuck between a rock and a hard place because of the bills I have, I have to put out the easier videos that dont really go in depth and I find that a shame because I just dont have the time to free up. It wouldn't a case of I stop making content I would have to strike a balance between the subs and the paid subs without reducing the qaulity of content :)
Sorry but not a fan of CZcams subscription fees - not even BYB does this 😬
Its ok, I am seeking feedback before I make a move in either direction. BYB has 30k plus subs, he is more than likely got the time as the admoney would cover him in that regard but its not a his channel versus mine :)
I enjoy your videos. I don’t think I would become a member. Hope you don’t mind honest feedback.
This is exactly what I am after if Im frank, Im trying to figure out the middle ground and I appreciate the honesty :)
As you well know starting my own business one of my biggest problems is managing expectations. When it comes to collectibles condition is everything and everyone wants the top grade for the least amount possible and when condition is an opinions based decision opinions can be very different...
that is very true, it is subjective.
I have noticed some channels have a donate icon next to the share icon underneath the video. Perhaps trying out this feature so one can donate as much or little as they want without any pressure. P.S always liked the way you say the extended 'heloooo' at the beginning of all your videos!
All about the Helllllooo haha, I will take a look, thank you for your opinion :)
Hey Shaun, you’re worth every penny ( not many people are willing to work for free) . But realistically, in my situation over here in Japan, I’d find it logistically difficult to pay subscription fee🥴🥴🥴. Keep up the good work, Jamie
Thank you for the feedback, I am going to have a long hard think about the right thing moving forward.
The way things are currently with inflation, higher gas/elec bills etc etc, your idea of a subscription channel might be deemed a good idea but unfortunately the wrong moment in time.
Its a great point - thank you for some feedback.
Can anyone tell me the difference between the 2 ducat coins?
I didn’t understand why one is better.
Just condition.
I see and understand what your saying, I have noticed some get the subs up, get sponsors, or add more in-depth information in members only videos. Just really depends the direction you are looking to take the channel.
its a very tricky balancing act. I am going to have a long think on this one. The last thing I want to do is alienate people on what essentially is an education channel.
@@shaunoliver1703 Some people do both like I said, but I know that will take even more of your time. Good luck. I enjoy your videos.
Where do you advertise your coins you sell mate any suggestions on good sites?
Pretty much facebook, some people email me directly but I dont have a store front etc. It comes in I list it and it sells or goes in the lock up for another time :)
Thanks for the video...........
My pleasure
Shaun the New bullion sovereign has some numismatic value ? Thanks
Hello, Ive been meaning to answer your question. It will be a semi numi play. I dont know the mintage but it should trade above a normal sovereign in the future.
I think a lot of people would get a shock on the true value of their coins if they had to sell quickly to a dealer. Sure they might go for X on an auction etc but then there's selling fees and so on, maybe there is a cost of time answering to tyre kickers on other platforms etc.
I wouldn't have an issue if you did start a paid version, whilst I've never got involved with other channels doing similar things, other channels might. Could you set up a way of selling your stock via the videos? Appreciate you might already have a buyer in mind when you get stock in but I've seen coins in your videos where if I could click through to your website and buy the coin I would have. Aside from CZcams I'm not a social media user but open to online shopping
Its true, I deal with alot of people who perceive a value to be x when the reality it can be worth y or z (it can swing both ways where people dont realise the value of their coins). You will always get more by doing the legwork when selling. In terms of the paid version I am going to review the responses and see where I am at, Im in not in the business of marginalising certain people, I want the channel to be an educational channel but I need to find a middle ground that works. In terms of shop, some people just email me on the link in the description.
Do you have a suggestion for legally avoiding high taxes when selling gold?
Which country are you in?
@@shaunoliver1703 USA NJ
@@unnanointedonesufi I wouldn't be able to help on that one sadly. as I dont know the USA tax system.
Nice design the perth mint swan
Good Luck I know I wont pay any subscriptions fees to watch any vids. I also wont become a member to those channels that only allow you to bid in their auctions if you are a member. That's silly, I am not going to pay you to be a member and than pay for an item that will most likely be overpriced. Doesn't make any sense to me no matter how low the fee is.
I have a 22 CT gold coin for sale
I hope that you still putt videos on your youtube channel I really like them :).
of course, Im not proposing a purely paid channel, it goes against my beliefs, I just feel I can give more but I dont have the time to do so and its frustrating me. Personally I think education should be free, but I cant pay my bills on that sadly. The idea in my head is the paid model I can put out the more in-depth content that takes more time to make and I can leave the shorter tutorial videos as they are.
@@shaunoliver1703 Yes I agree with you its a very good idea :)!
Put simply. No, I wouldn't pay. If you were to speculate now by making longer videos I do think you'd increase your sub numbers and thus your income organically.
That is 100% the crux of the situation, I do not have the time to make the videos longer and more in-depth without taking a hit in terms of the business. I dont have the luxury of speculating with the bills I have. I will go back to the drawing board to see what is feasible and what isnt. To put it in perspective Ive been making videos for c. 4 years and Ive made just over 500 dollars the trade off as it stands is huge. I do appreciate the comments I am going to have a very very long and hard think about what to do my end.
@@shaunoliver1703 I appreciate the difficulty. Building a channel takes time and where do you find that time in an ever demanding world.
I'd be happy to support you but I don't feel happy with a subscription service...I see them as separate.
If I think of something I'll let you know!
Thanks for all you do
@@tomahawk564 Ive said it many people its not a cash grab, this channel and trading is wearing me out to an extent. I love putting out the more nitty gritty type videos (such as the economics one, Zimbabwe dollar meltdown comes to mind) But losing say 2 hours a video is very expensive for me to do, and stressful if Im being 100% frank. The question is how to find that balance without alienating people for content that would be not only informational but useful to the viewership. Ill go back to the drawing board and see what I can come up with.
@@shaunoliver1703 I'm not calling it a cash grab. I'm all for supporting you financially if an agreeable way of doing it is found.
You absolutely deserve to be paid for that content. I've watched it all and enjoyed it immensely. It's just a case of finding the correct mechanism.
@@tomahawk564 Yea I wasn't implying, but I know some people will think that (rightly or wrongly). Im going to see whats feasible and what isnt. I dont want to go down the route of privatising education because thats essentially is what a paid model does. It goes against my beliefs somewhat. Someone suggested like a wikipedia type format where people have no obligation to pay but everyone benefits I might see if that is feasible and what platform could support that.
I would happily join as long as its at a reasonable cost as I only found this channel a month ago but have found it invaluable so far and its grown my knowledge immensely, I'm gradually working through all of your old vids.
Another great vid btw!
Its not to something where I want to make crazy amounts of money, I just need to free up time, with the business I find I overwork because I have no stability and if I can get some stability I can put that time into putting out the more nitty gritty content.
@@shaunoliver1703 I completely understand where you are coming from, Shaun and exactly how it is being self employed. Time is money and you deserve to be paid for this work too, especially as the content is so educational and will add value to anyone who is buying and selling precious metals. Ill be honest, my strategy has totally changed in a month due to what I've learned here and will probably translate into far more profit and much less hassle as a result.
Look forward to more vids! 😊
@@rjim1 It makes me happy that you find my content of benefit, its one of the reasons I put it out there because I feel its useful for people, I guess I am just a crossroad at what I want to do and I want to build a solid channel where I can help in a consultancy type way its just bridging the gap between my time and my bills.
JM Bullion will buy Silver and gold. Go to JM select "sell to us'..You can see what they pay. You are holding 4 ducats, from Aus. Very thin..
made the fee free waiting time taking to much
Hi James, please tell me more. I am always trying to improve the channel so feedback is a good thing for me. In terms of the 'fee' I earn the reality is CZcams costs me a lot of money to put out videos in terms of what I lose elsewhere. I am happy to take constructive criticism but I am also realistic in the sense I put out pretty much story telling videos that educate and people would pay a ton of money to talk to a consultant about :)
Learnt loads from watching your content if the membership also had a selling page for coins attached as you said spot+small profit I'd be more interested
Hi Ian, thanks for the feedback, I am reviewing what I think is fair and also possible, it certainly is an option. I will have a ponder.
I've done a community radio show for the last 6 years . . . . donating to the station ever year. No subscription. No problem. Will block this channel and move on. . . ridiculous . . .
I've never paid for content but if there was any channel I'd change that for it'd be for yours. Please don't tier the prices as ultimately it could cause upset between you're viewers. Pay or don't, but if you do decide to pay anything, then I'd say you should have access to all imho. Ultimately its you're channel and you're decision but I'd guesstimate about a fiver all round is where I'd be comfortable, middle of the road type me 🙄. I'm not sure if I'd be happy if it seemed like a competition of who can afford what if you know what I mean... I have a silver tier season ticket for the football and currently spending about 2.5k a season home and away not including Europe, have done so for many a season. I slag my pals who are obsessed with doing the spandau ballet 🤭😁.. Anyways thanks for another great video 👍
I hadn't thought of it like that so I am glad you have raised that concern, in my head it was more pay what you can afford (if people wish to choose so) hence the tiering but its certainly food for thought. Im glad that you find my content of good value that you would consider it because it tells me that (most importantly) my content is good which is my main concern.
@@shaunoliver1703 No1 content provider in the UK I'd say. You're honesty, passion and desire to share knowledge shines throughout your entire catalogue of videos. You come across well both as a dealer trying to make a living and someone who appreciates coins and believes in the value of precious metals. That's what sets you apart imho. You can rely on my continuing support going forward 👍
@@Professionalcynicalist Thank you.
do whats best for you
I am looking at a few options - I will figure something out.