I wish I'd never bought these gold coins

Sapphire

grey_gym_sock wrote: »

who are these people who want to bury gold in the ground, and care about their distant descendants being richer than other people in the future?

Gold has always been greatly valued as a source of wealth in human history. Hoards of gold are very commonly found buried in all cultures, back down to prehistory. It is thought that they were often buried when people were escaping from war (there were always many, many wars between tribes through to empires). They probably didn't return because they were killed or enslaved, so the hoards stayed buried until someone in much later times found them. The hoards generally consist of things like gold coins and jewellery, which are often placed in pottery containers.

Malthusian

Sapphire wrote: »

Gold has always been greatly valued as a source of wealth in human history.

Virgins were greatly valued up throughout pre-industrial history but that doesn't mean you should buy some to diversify your portfolio or stockpile them against the upcoming apocalypse.

ColdIron

Moreover, much like gold, virgins do not produce dividends, do need guarding and can be attractive. However they share some characteristics with short dated bonds

N1AK

TBC15 wrote: »

So if you want to buy physical gold as an investment buy coins, bars ?

It depends on why you are buying and what you intend to invest. If you're talking a couple of grand of something physical then coins are about the only viable option. If you're investing enough that you're seriously considering bars (100g+) then you'll want to consider things like insurance and/or storage and I'd certainly expect it would be worth the money to get some professional advice before droppings 10s of thousands of £ on gold.

Smodlet

ColdIron wrote: »

Moreover, much like gold, virgins do not produce dividends, do need guarding and can be attractive. However they share some characteristics with short dated bonds

Any virgin with any class would need a long series of long dates, not just one short one, surely? :cool:

Veils1

Coins are not liquid investments. It may take you a while to find a buyer, and values in catalogues are merely a reference point - actual deals are usually much lower, unless you have some extremely rare positions. Better list at ebay and keep them for a while.

shaun_from_Africa

Veils1 wrote: »

Coins are not liquid investments. It may take you a while to find a buyer, and values in catalogues are merely a reference point - actual deals are usually much lower, unless you have some extremely rare positions. Better list at ebay and keep them for a while.

Bullion coins are generally one of the easiest items of physical gold to sell and as for finding buyers, any one of dozens of different bullion buyers will purchase from you.
When referring to bullion coins, these are not generally catalogued as such as they are not collectable coins, simply something bought and sold for the gold content alone.
Because of this, the prices these coins trade for is linked to the current spot price of gold.
Most dealers will buy at around 94% to 95% of spot price and occasionally higher.


With regards to ebay.
Selling there will generally get you less than selling to a dealer as ebay take 10% of the selling price and if getting paid via paypal, you lose another 3%.

markj113

Veils1 wrote: »

Coins are not liquid investments. It may take you a while to find a buyer, and values in catalogues are merely a reference point - actual deals are usually much lower, unless you have some extremely rare positions. Better list at ebay and keep them for a while.

Sovereigns, Britannias, maples and krugerrands are highly liquid as they are just bullion coins with pricing based on spot price.

I recently sold just over 54oz worth of gold coins after the Brexit price spike. The semi numi stuff such as gold Pandas and Lunars were listed on a forum and all sold within 24hrs the rest were taken to Atkinsons and all the cash was in the bank the next day.

You dont need to trawl through books to get prices, you can just check on ebay for listed and recently sold items to get a good idea of the valuation.

I have started buying back into gold but sticking to sovereigns this time around. Picking them up for 2% over spot at hatton garden metals and very easy to sell when the time comes.

bulltraderpt

Penn_1969 wrote: »

A couple of years ago I bought four quadruple sovereigns, also known as £5 gold coins. I think I paid just over £4400 for them. Even though gold has risen since we voted to leave Europe, I still can't get a decent price for my coins. When my coins were worth about £5500, the place I got them from offered me £4600, which is hardly much more than I paid for them. Obviously gold prices have dropped now so the offer would be much lower.

I contacted the local jewellers who offered to pay "good money" for your gold. They offered me a pathetic £800 for each coin. They will be waiting a long time before I take them up on that offer.

Basically what I'm trying to say is if you are thinking about investing in gold then think carefully, you will be very lucky to make a profit any time soon if you do buy any time soon.

I respectfully suggest your problem might be that you didn't consider your time frame and your reason for purchasing said coins.

Gold is usually viewed as a very long term investment, and a lot of 'advisers' consider you shouldn't put any more than 2 - 10% of your wealth in said commodity.

Now it is also a store of value over specific time periods but not others, so timing, as they say is everything.

If you need to sell out now to shore up finances then you may have to sell at a loss, but if in the coming years we get helicopter money, I can more or less guarantee you you won't be wanting to sell your coins, ever.

Good luck in your choice.:)