Can You Even Sell Gold For Spot Price Anymore?
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- čas přidán 5. 07. 2024
- Thanks for watching, looking forwards to chatting in the comments.
Discount code £10 off at www.thegoldbullion.co.uk
"0A319" Even works on their competitively priced best value sovereigns
Would you like a free 1 oz Silver Britannia on your next gold order?
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Multi Use Capsules with foam insert
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The Gold Sovereign Series - Marsh (Fantastic resource for sovereigns)
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Coins of England - Spink (A lot of info for sovereigns but also other British coinage)
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Sigma Precious Metals Verifier I use
UK ebay.us/uBTpot OR ebay.us/zGLAnw. I don't know either of these sellers personally.
For the USA I found this seller ebay.us/5OW7vF
22.5mm Capsules (Sovereign, 0.25 oz Britannia etc)
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Coin Tube (Sovs and 0.25 oz inside capsules)
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33mm Coin Capsules (Gold 1oz Britannia recent years)
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Digital Scales (small)
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Leather £1 Coin Holder (The blue and red ones I have in the videos, note I don't store coins in these long term they're more for show in the video but haven't done any damage)
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This video should not be taken as financial advice and is for entertainment only
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I am over here in Florida as a reseller, but i believe that 1 oz Gold bars are being bought for 98% and Foreign 1 oz Gold at 99% of spot local coin shops.
Nice that sounds reasonable
@SovereignSaurus I can't make money in anything over 1/2 oz 😒 spreads are too small. I still see 1/4 as the sweet spot.
Nice to see the Vickie Shields 🎉.
Here,in Japan, the pawnshop/ jewelry shop I use tend to give me very close to melt price, but due to the weak Yen against the dollar, it’s a great price compared to my salary which hasn’t changed since I moved here 😱.
Silver is a different story, it’s very hard to liquidate and if you can , you’ll get way under spot 😱.
Yeah that's interesting, gold seems the obvious choice there too unless silver price moves something fierce
My local antique shop pays 2% over for Sovs
Great video
Nice!
Not selling just buying, slow and steady.
Yeah it's a nice spot to be in just worth considering a potential exit in what we're buying now too 👍🏼
save some sovs for the rest of us
He is super rich! He has video with 60 oz of gold coins.
Super rich with hard working hands. Well deserved :)
I could be a debt millionaire with negative 1mil 😏
I work in a coin shop in Asheville, NC. Depending on what the coin is, spot isn’t out of the question. American Gold Eagles, we pay spot. Sovereigns and other gold coins a minimum of 95%
Thanks for sharing 👍🏼
Whats the difference between spot price and melt price heard of melt price been mentioned wastnt sure what it was .
I love the look, size and history of the sovereigns unfortunately they attract goods and services tax here in Canada, which is another consideration beyond premium.
Yes it's a shame hey. At least there's some nice choice from Canadian mint.
Tavex currently pays £1815.59 per oz of gold. You probably get more selling yourself on eBay but then you got to worry about the fees of selling. If you sell at spot you will pay eBay around £243 on a 1oz coin which means you got to sell well above spot price just to get spot price after fees deducted. You would have to sell at £2150 to get just over spot after fees. The question is is anyone willing to pay £2150 for a gold Britannia 1oz coin? Probably not but that is what you would have to set the price at unless of course you have a 70% off final fees promotion.
How can you sell with confidence on Ebay? heard many stories of people selling all different things and buyer claims its fake etc and ebay just takes buyers side
yeah the main concern with eBay is the buyer scamming you
@@SB-mo7tq Yeah, that too. It probably wouldn't be worth the hassle. With a selling promotion you would have to sell at £1950 to just get a little over spot but like you said buyer could rip you off. Might as well sell to a dealer instead.
I haven't sold gold on eBay. I don't have any to sell.
In Australia you can get 95% of spot price for Sovs - most dealers will not pay anything extra for young heads etc.
Ouch. So the % is slightly higher here but yes minimal difference between portraits too
@@SovereignSaurus Secondary market is strong still. So you can easily sell at or above the spot. Sydney Sovs are always popular as well.
It depends - I knwo it's difficult to get the rid of your 1oz gold coins for spot these days, but when it comes to the smaller denominations, like 1/10 oz coins then yeah, it's very easy to sell them slighly over spot
Good point. If the premiums are very low on sovs I think it makes 1 Oz look less attractive to many people
It’s 1-2% back of spot depending on the type of gold here in Pittsburgh. However it’s a great time to buy I think because it’s closer to spot on the spread.
Yeah that's it, cheap relatively to spot
Well you can still buy Sovs for 435 on TSF plus postage or negotiated will end up for 442 SD included. Nice to see you again my friend, take care.
Ireland, only buying last 18 months hoping i wont need to sell but will do if needed
👍🏼
Tampa FL at spot on fractional
Nice 👌🏽 Thanks for sharing
Luckily I don't need to sell and just adding a bit more every month. I do nip into Ramsdens in my nearest town when I need to go and have a good laugh at what they are offering. The last time a few weeks ago they where offering £292 for a bog standard full Sov and selling at £470. I do hope the Police go in there one day and charge them with robbery. Hell should hold a very special and horrible place for companies like them!!
That is an incredible margin. Selling seems a no go and buying too unless you happen to stumble across something rare in good condition that they didn't notice
Another great video mate, just a question, what premium would you say to aim for with sovereigns?
Also would you say going for the Queens Beasts and Tudor Beasts 1/4oz coins is worth the extra premium (I think it’s around 12-15% for the cheaper ones)?
Hey thanks for stopping by. Aim for the lowest premium with reasonable quality sovs (ideally not heavily worn or damaged or ex mounted) It depends on the quantity but I think 3-5% to your door is pretty good from the years I've been following. When gold price moves higher like recently usually see them getting closer to spot.
I don't see a problem in paying a little extra premium for something you enjoy but personally I keep it a smaller proportion of my stack and am aware that there is a bit of risk that when I come to sell a dealer will likely not give me the same premium back, should I go down that route one day
Excellent shit
🍿🍿
set your promotion fee at 2% custom