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Gman

People Always Asking What Gold Coins To Buy?

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it doesn't matter, 1troy Oz of Gold Bullion is 1troy Oz. Buy the cheapest and closest to spot/fix.

People who have sovereigns (which contain only 8 grams of fine Gold) will blab on continuously about buying Sovs, the same for 1Oz Krugerrands.

Buy the Cheapest 1Oz Coin you can get, as when you come to sell it you will only get Spot/ix price if you're lucky.

end of.

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it doesn't matter, 1troy Oz of Gold Bullion is 1troy Oz. Buy the cheapest and closest to spot/fix.

People who have sovereigns (which contain only 8 grams of fine Gold) will blab on continuously about buying Sovs, the same for 1Oz Krugerrands.

Buy the Cheapest 1Oz Coin you can get, as when you come to sell it you will only get Spot/ix price if you're lucky.

end of.

Not quite.

Firstly sovereigns don't contain 8g of fine gold.

Secondly, unless you plan to sell your coins on for scrap you should take resale value into account. Sovereigns and krugs can usually be sold privately at a small premium. On the other hand would you be happy buying a 100 Korona coin off a stranger at a premium over bullion price. This also applies to large coins such as the 50 Peso which have a limited market compared to sovereigns.

Otherwise I would agree you buy the cheapest you can and you can always sell as scrap ( which is often more than a dealer or ebay will get you)

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Not quite.

Firstly sovereigns don't contain 8g of fine gold.

Secondly, unless you plan to sell your coins on for scrap you should take resale value into account. Sovereigns and krugs can usually be sold privately at a small premium. On the other hand would you be happy buying a 100 Korona coin off a stranger at a premium over bullion price. This also applies to large coins such as the 50 Peso which have a limited market compared to sovereigns.

Otherwise I would agree you buy the cheapest you can and you can always sell as scrap ( which is often more than a dealer or ebay will get you)

Yes Sovereigns contain less than 8g

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A good rule is to stick with the more establish coins from government/royal mints.

For example, Canadian maples, American Eagles, Kruggerands and Sovereigns. I avoid the Mexican/chinese etc. stuff.

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It doesn't matter, 1troy Oz of Gold Bullion is 1troy Oz. Buy the cheapest and closest to spot/fix.

Well one would assume you are buying with the hope of appreciation. Sovs and Brits are free from capital gains tax as they are currency, but krugs and phils are not. Thus all coins are not equal.

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it doesn't matter, 1troy Oz of Gold Bullion is 1troy Oz. Buy the cheapest and closest to spot/fix.

People who have sovereigns (which contain only 8 grams of fine Gold) will blab on continuously about buying Sovs, the same for 1Oz Krugerrands.

Buy the Cheapest 1Oz Coin you can get, as when you come to sell it you will only get Spot/ix price if you're lucky.

end of.

It would be interesting to hear of an example of what you would buy and at what price? Sovereigns for example can still be bought for around 5% above spot.

What you suggest by buying the cheapest possible only considers buying and no consideration of which is more desirable and importantly the exit strategy.

Why not 1kg bars, as this would be more efficient in grams of gold for cost ratio than a minted 1 ozt coin?

The sovereign coin is Capital Gains Tax (CGT) except, which for 2009/10 is £10,100 and a rate of 18% taxation above that limit.

The British gold sovereign has a very long history and is recognised all around the world, to such an extent that U.S. and U.K. military pilots and special forces carry them in their emergency packs!

Not to mention the sovereign is a pretty coin, and very handy to transport or to conceal even in multiples compared to 1 ouncers.

Also buying a sovereign you have a possible extra advantage of limited supply and historical interest, with the coins commanding a higher premium when gold goes mainstream.

Lastly, a full sovereign contains 7.32g gold (0.2354 Troy ounces) and with a gross weight of 7.98 grams.

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Gold coins cost much more, than gold of which they consist.

If you have seen the recent Royal Mint prices I would agree.

However you can buy from bullion dealers, coins at 5% above spot, which is not very much at all. A gold coin or bar has to be minted, they don't come straight out of the ground. :lol:

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Gold coins cost much more, than gold of which they consist.

Not so if you are a crafty shopper. I regularly buy coins at spot price or even slightly below.

It costs sellers about £12-14 to sell a sovereign on ebay and recently I have bought for £140 or even less and use a cashback portal and a cashback credit card to pay.

The seller ends up with less than scrap value. After completing a transaction I ask the seller if they have more to sell and buy them privately at around scrap price which is more than they get elsewhere. I go through the ebay process first to find potential sellers and because their financial details have already been confirmed by paypal so its less risk to me.

If they are local it doesn't even cost me postage and there is no paper trail.

If you insist on dealing with Spinks, Bairds or Chards then expect to contribute to their profits. They don't run a charity.

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If you have seen the recent Royal Mint prices I would agree.

However you can buy from bullion dealers, coins at 5% above spot, which is not very much at all. A gold coin or bar has to be minted, they don't come straight out of the ground. :lol:

It is obvious, that they cannot cost exactly as much

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Not so if you are a crafty shopper. I regularly buy coins at spot price or even slightly below.

It costs sellers about £12-14 to sell a sovereign on ebay and recently I have bought for £140 or even less and use a cashback portal and a cashback credit card to pay.

The seller ends up with less than scrap value. After completing a transaction I ask the seller if they have more to sell and buy them privately at around scrap price which is more than they get elsewhere. I go through the ebay process first to find potential sellers and because their financial details have already been confirmed by paypal so its less risk to me.

If they are local it doesn't even cost me postage and there is no paper trail.

If you insist on dealing with Spinks, Bairds or Chards then expect to contribute to their profits. They don't run a charity.

"Mr Ash says the prices can outstrip the true value of gold - the ‘spot’ gold price - by 25 per cent even for the plainest coins. Rarer coins are sometimes bid up to an even higher premium. Mr Ash says you should check out the seller ratings, the full item description and the shipping fees." Is it not right?

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"Mr Ash says the prices can outstrip the true value of gold - the ‘spot’ gold price - by 25 per cent even for the plainest coins. Rarer coins are sometimes bid up to an even higher premium. Mr Ash says you should check out the seller ratings, the full item description and the shipping fees." Is it not right?

Are you referring to Adrian Ash?

You do know he has a vested interest in that he runs BullionVault, an online gold trading and storage company (storage in theory at least, I've never heard of anyone actually seeing any gold bullion)

I have just bought some sovereigns today. 2 at £130 and 1/2 at £62 including postage. Hatton Gdns Metals are offering £131.40 as scrap today.

You can spend £3000 for a rare 1917 sovereign if you like or overpay for a bullion coin from the Royal Mint but that applies to anything you buy. Personally I prefer not to overpay for my groceries, beer or gold coins.

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"Mr Ash says the prices can outstrip the true value of gold - the ‘spot’ gold price - by 25 per cent even for the plainest coins. Rarer coins are sometimes bid up to an even higher premium. Mr Ash says you should check out the seller ratings, the full item description and the shipping fees." Is it not right?

Bullion coins are not 25% over spot, if one checks out the market first and buys accordingly. You will be paying higher prices for proof coins, numiristic and rare collectors coins, but again they will have a higher re-sale value.

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got two half sovs from feebay today for £160. Both shieldbacks, 1856 and 1875, so don't mind being £20 over spot in this case. Too much really and are only bullion but I do like shields, especially early ones in good condition.

missed a half sov yesterday that went for £51, £20 under scrap value.

Edited by richyc

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got two half sovs from feebay today for £160. Both shieldbacks, 1856 and 1875, so don't mind being £20 over spot in this case. Too much really and are only bullion but I do like shields, especially early ones in good condition.

missed a half sov yesterday that went for £51, £20 under scrap value.

I think you might be bidding against me :)

I think its best just to buy sovereigns and brittanias. Bullionvault is good too but is not cgt exempt.

Edited by endgame

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got two half sovs from feebay today for £160. Both shieldbacks, 1856 and 1875, so don't mind being £20 over spot in this case. Too much really and are only bullion but I do like shields, especially early ones in good condition.

missed a half sov yesterday that went for £51, £20 under scrap value.

I was bidding for these too. Were they the ones in earings?

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I was bidding for these too. Were they the ones in earings?

thats them. I checked and there is no solder involved, the mounts are the removable 'u' shaped tube type. Sounds like the mounts are around 4g so that probably puts the price under spot. Rings often get scratched and worn so I only buy if the price is good, ladies tend to be more careful with their ears so the coins are generally in far better shape.

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I was bidding for these too. Were they the ones in earings?

I bet it was you that took the 2000 half sov for £51 wasn't it? I forgot what time it was finishing so missed it.

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thats them. I checked and there is no solder involved, the mounts are the removable 'u' shaped tube type. Sounds like the mounts are around 4g so that probably puts the price under spot. Rings often get scratched and worn so I only buy if the price is good, ladies tend to be more careful with their ears so the coins are generally in far better shape.

I had the next lower bid. I also emailed the seller to check on solder but I only read the reply after the auction had finished as I would have bid higher.

Its amazing that people put this stuff on ebay without a proper description or pictures. These are worth £350 to a collector if the coins are in good condition.

And no I did not get the one at £51. :(

We must develop some system to avoid bidding against each other. Must have been happening as ebay hid the bidder name now.

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I had the next lower bid. I also emailed the seller to check on solder but I only read the reply after the auction had finished as I would have bid higher.

Its amazing that people put this stuff on ebay without a proper description or pictures. These are worth £350 to a collector if the coins are in good condition.

And no I did not get the one at £51. :(

We must develop some system to avoid bidding against each other. Must have been happening as ebay hid the bidder name now.

I did once suggest such a system but I think it was you that pointed out how much wider the market was, seems maybe the wider market don't know how to find the better deals so maybe we should come up with a plan. I think that we have probably been up against each other more often than we could guess by the looks of things.

I took a chance on the poor pictures, assumed that as earings the coins should be in good condition, will let you know. I didn't read the reply about solder until afterwars either, just figured it worth a punt regardless.

Do you know how easy it would be to remove mounts like that if they were soldered and how much evidence there would be left on the coin? Have read a bit about it but never tried, this would have been the first attempt.

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