Gold Sovereigns and a talk about goodwill
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- čas přidán 6. 09. 2024
- 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 anyone wants to view my website please find it here www.backthemetal.com.
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please note I am not a financial advisor and as much as I am very capable in my field of work I am not permitted to give financial advice.
I've been telling folk to buy shield backs when they were £100 each and gold was £385 oz ,,I've made my fortune 😅😅😅
Hope you are good
Thanks Shaun, a very nice little video, cheers.
Where can I buy coins spot I'd buy all day.
Your new camera shows the coins nicely, some lovely strikes on some of the ‘76s🙆♂️.
Thanks for sharing 👌.
Always a pleasure.
Shaun - in this video you referred to my Tavex related comment in your previous video, titled "Gold bought from a youtube client and some sovereigns for sovereignsaurus". First of all I would like to apologize for not being absolutely clear in my core message. I was NOT stating an opinion about dealers sending coins from their inventories in for grading (which is quite normal) when I wrote:
"It [Tavex] is totally no BS. No eye-glass-small-shopkeeper mentality (i.e. bullion dealer turning coin grader for the sake of low-balling the price offered for your coin when YOU sell). With Tavex bullion is bullion and you can buy and sell in a heartbeat."
The above referred to my experience with another BIG bullion and coin dealer. I bought some sovereigns "graded" or rather categorised as "bullion". The coins never left their capsules in my possession. When showing up to sell them back 6 months later the very same employee was behind he counter. From acting as a bullion dealer when I purchased the coins he now turned coin dealer/grader as he mounted an eye glass and told me he could only consider/"grade" my coins as "Low-grade sovereigns" and thusly price them accordingly. I found that unacceptable and rogue and did not take the offer.
I regret, however, labelling the above attempt to lowball my sovereigns as "small-shopkeeper mentality" and I was certainly not aiming anything against you, Shaun!
I didn't take it as an attack I just didnt understand the comment when you said it so I wanted to clarify as dealing is complex and there are several parts of the market which dealers will position themselves :)
I can understand your frustration with that type of business - there does need to be consistency - I would have had stern words myself. I understand what you mean now - I thought you were talking about bullion dealers separating and grading but from my experience its not worth their time. The dealer you mentioned that is poor practice.
Typically when I am buying (from my perspective) I will say something like this. 'Its nice bullion' there might be a bit extra in but its not a given so I pay a flat rate. Great when it works but I'm too experienced to know it can work against me if I do pay a bit more. No bullion dealer in my mind should be getting out an eye glass. Its theatre...
I know the type he’s talking about- it’s the brick and mortar shops that sell at retail prices but only buy based on what their wholesaler will pay them.
For example, their top price to pay on ANY $20 St Gauden was 95% of spot, meanwhile selling “BU” ones for +15-20%
They don’t pass on over-the-counter purchases to customers, which cheesed me off and lost me forever as a customer
Lovely haul, I once chatted to a dealer with a small shop one day (just called in out of the blue as I was passing) he was talking about some of his recent purchases it was frightening what he said he'd paid for some of his stock
Im going to assume it wasn't a lot. Ive heard some real horror stories but it's also hard to balance costs vs profit. I'm not sticking up for rogue agents but in a traditional business you are meant to put money aside for the lean years.
Any update on your end? Gold about 20% higher than when you last posted. Would love to see your reaction
Tbh - I think I just got a bit bored on talking about the gold price. It goes up and down in an upward motion over time. Its underpinned by debt levels or at least that is my views.
Nailed it with Goodwill and relationships. Even with a high res new camera (not your old Nokia 3310) they are very decent coins. No teeth marks😊
you leave my nokia alone haha
Never seen quite so many 1976's. 90% of bullion coins just aren't worth grading. I graded a clean looking 1957 as it's the first bullion with QEII. Achieved a respectable MS64. Correct me if I'm wrong, I think one of your 1957's hit the jackpot at MS67. They're auctioning for over 2 grand.
TBH I cant remember the exact coin grade but it did hit the jackpot - Sheer fluke as well. It came in a collection and I graded it purely because I couldn't sit on sovereigns long enough.
I purchased 12 x 1957s Uncirculated Sovereigns. I thought it may be worthwhile, and also I was a young boy in this period.
Massive fan Shannon, but man that beard needs sorting out bro
nice coins
Excellent shit
Fab coins.
They are nice coins for sure.
@@shaunoliver1703 do you sell over a website?
Hello Shaun, thank you for the upload! I very much appreciate it! I forget your Facebook group that you sell in. It would be mega handy for me.
Cheers mate!