Buying Britannia Gold Coins

AntC

Hey all. Just hoping for a bit of (non-judgemental) advice about a coin I purchased back in 2020. 

I’m just asking for my own information really and without any specific agenda or intentions.

Anyway, following a bereavement during the first Covid19 lockdown, I rather hastily bought a 2020 United Kingdom Britannia Quarter Ounce Gold Proof Coin (one of a 700 limited edition). I thought it might be a special way of commemorating the person I’d lost.

With hindsight, I realise it was probably a silly decision because I have no experience of buying gold, or knowledge of its true value etc. I think in this instance, my heart was ruling my head. I’m in a relatively low-paid job so couldn’t normally afford something like that but the instalment option helped. 

At the time, the guide price was £799 from an online gold seller. Rather foolishly, I didn’t carry out any research as I was adamant this was the gesture I wanted to make for my lost loved one. It just seemed to make sense to me at the time. I didn’t look at comparison sites either. I just accepted that if that was the cost of it, then that was it! 

Out of interest, about a year later, I looked what other similar coins were selling for. I realised that it is probably worth less than half of what I had paid. I’m not for a second suggesting I’ve been misled or anything like that. Its down to my own impulsive decision. 

I had another look online today out of curiosity and I saw the same coin selling for around £850-£950 on sites like eBay or third-party sellers. 

The one I purchased remains within all its original Royal Mint packaging (although wasn’t purchased through them directly) as well as the authenticity certificate etc. in fact, I’ve only opened it a few times. When it arrived, I just put it into a memory box I’d made for the person I’d lost. But the more I think about it, the more I realise it’s just going to sit there forever. My loved one probably would have gone made at me for even buying it in the first place. 

For the more knowledgeable gold experts out there, would it be worth keeping this coin and see if it increases in value? Or just selling it for its scrap gold value etc?

I’m certainly not in a hurry to sell it. I’m not even decided whether I intend to sell it at all. A part of me doesn’t want to let go of it given the sentimental reason I’d bought it, but it also seems foolish to keep it without doing anything with it, especially when it could possibly bring joy to someone else?

Type_45

Call Atkinson's and ask them.  You can buy that sort of thing for around £600, so I guess you'll get something similar.  

https://atkinsonsbullion.com/gold/gold-coins/1-4oz-gold-coins?sort=Please Select&quantity=24&page=1&view=grid&filter_product type=producttype_proofcoins&filter_weight=weight_1_4ozgold&filter_offer=offer_cgtfree 

AntC

I guess it’s good to know that if ever I did decide to sell it on, I could do, albeit for less than I paid! 

Cus

This is not an investment in my opinion.  

This is an emotional purchase. If the emotions that led to this have changed, then selling it for what ever it is worth, and then spending the money on another more thought out emotional purchase might be in order.

AntC

It was definitely an emotional purchase. There’s more reasoning behind it, but that’s the crux of it. The circumstances haven’t changed. But rather, it just seems more that it was a rushed decision despite the good intentions so if I can get something back for it then that’s good, though I’m not in a rush to. Maybe it could help me out of a tricky spot in the future if it were to arise?

maxsteam

It's worth knowing the value of the gold in the coin. A quarter ounce of gold is worth about £330 today. If you had some tatty old jewelery with a quarter of an ounce of gold in it, you should not sell it for less than around £300. A limited edition coin in good condition will be worth a premium to the value of its gold content. A 2022 quarter ounce Britannia gold coin can be purchased today from the Royal Mint for £376.

As others have inferred, you have memories which are priceless.

Type_45

If I were to sell some gold, but not be in a rush, I'd wait until the 2nd half of 2022 when the stock market loses 80% of it's value and gold and silver rise in price.

Type_45

Deleted_User said:

Type_45 said:

If I were to sell some gold, but not be in a rush, I'd wait until the 2nd half of 2022 when the stock market loses 80% of it's value and gold and silver rise in price.

You should be in stand-up comedy.

25% melt up followed by 80% crash.

eskbanker

Deleted_User said:

Type_45 said:

If I were to sell some gold, but not be in a rush, I'd wait until the 2nd half of 2022 when the stock market loses 80% of it's value and gold and silver rise in price.

You should be in stand-up comedy.

Or clock repair - even a stopped one ought to be right occasionally....

https://forums.moneysavingexpert.com/discussion/5820767/next-recession-trade-wars-up-to-50-portfolio-losses/p1
https://forums.moneysavingexpert.com/discussion/6266708/inflation-and-economic-crash/p1

grumiofoundation

Type_45 said:

Deleted_User said:

Type_45 said:

If I were to sell some gold, but not be in a rush, I'd wait until the 2nd half of 2022 when the stock market loses 80% of it's value and gold and silver rise in price.

You should be in stand-up comedy.

25% melt up followed by 80% crash.

So a 50% drop from now. 

maxsteam

Type_45 said:

If I were to sell some gold, but not be in a rush, I'd wait until the 2nd half of 2022 when the stock market loses 80% of it's value and gold and silver rise in price.

The more popular opinion among the crowd who like to present the world with definite, easy to understand predictions is that the gold/silver ratio will rise. The truth is that the charts will all be zig-zag lines, going up a bit some days, going down a bit others. In a very bearish month, there have been 30% market falls. An 80% market fall is not feasible for mainstream stocks but it could conceivably happen to some of the more whacky investment sectors that get touted on popular forums.