Where to Buy Gold Coins at a low spot price on the UK Market?
You also found the words gold coins for sale cheap in the search engines, and you are pondering where the deal is? If you like to get that rush of piling up sparking gold without spending a fortune, do not feel alone. Do you prefer a cold auction to a silent auction by a dealer? It is an experience worth having, a strategy and a sprinkle of luck.
It goes without saying: when we talk about cheap gold coins, it does not mean the suspiciously low prices. It refers to the optimal payout of coins of good origins that have no trappings. Which then gives access to improved prices, and what do buyers in the UK need to know about the rules?
Auctions: The Chase after the Cheap Gold
There is energy in an auction that you can not find anywhere. You know those guys with the steel eyes, raised paddles and auctioneers shouting the bids out much quicker than you can say Britannia, they are seasoned collectors. It can be exciting and a bargain. Yet there is risk as well as potential.
Benefits of Gold Coin Auctions within the UK:
Potential bargains. In some instances, the coins fly under the radar where they have fewer bidders. You may pick up a steal during bulk lot increases.
Rare finds. Auctions have abnormal coins that one will not find on every shelf by the dealer.
Open pricing. Bidding is all open and clear, and you can observe what coins are worth in time.
Cons:
Buyer’s premiums. The twist is this: hammer price is not the final price. Add 15-25 per cent as buyer commission, and VAT on top, in some cases. Instantly, your discounted coin does not look so much discounted.
Condition risks. It is not always the case when auctions certify the state of the coin. Follow through catalogues, order pictures or view. When photos that you get of a coin appear foggy or do not provide details, run a mile.
Mistakes happen. One can easily do an overbidding in the heat of the moment. Get the best and hold your ground.
Considerable auction houses? DNW, Baldwin, Spink and the UK site of eBay (buyer beware, listing is only available on the private site). All of the big auction houses are checked to ensure that they belong to the British Numismatic Trade Association.
Dealers: Trusted, or Expensive Agents?
The dealers buy and sell trust and knowledge. It is not free, but at the same time a guarantee of peace of mind. When an online purchase or a shop imaged the dealers in the UK have been compelled by the religion to discover the personality when it comes to larger purchases, as well as honoring their part by conducting fair play in selling what is actually described.
Advantages of Purchasing it through Dealers:
Guaranteed authenticity. Respected dealers are behind their coins. When anything comes out as fishy, you will be refunded most of the time.
Transparent pricing. The amount you pay (other than the delivery) is the ticket price. No add-on buyer premiums.
Counselling and enlightenment. Dealers also like to mention some stories and attract new customers.
Cons:
Less out-of-control selling. The dealers are aware of their market. Extremely low-priced coins are difficult to find. But of course, special offers and bulk deals do come along, at least at the time of economic recession or sale-offs at the end of the year.
There can be a restricted selection. Each dealer does not have all the coins each year. Competition or a wait list is to be expected when uncommon releases are taking place.
Seek out British dealers who are members of BNTA or recommended by trusted collector sites. Reviews online should always be checked.
Comparisons on Price Points
Here is the part you are interested in: where to buy your gold coins at hip-pocket-friendly prices?
Auctions:
Auctioned prices can vary drastically. In non-surge (summer, post-Christmas) months, when the dealer population is reduced and single gold coins are more abundant, they occasionally sell (in local or specialist coin sales) as much as 10-50 p down on dealer prices.
Ample job lots represent less competition and improved per-coin pricing. Downsides? You are likely to have a few nutcases.
Dealers:
Be on the lookout for seasonal offers. The January clearances or the Black Friday offer in early January usually cut normal prices by 1-2 per cent.
Purchase in quantity- some dealers discount up to 10-25 pounds when you purchase multiple gold coins at one time.
Both are to follow the metal price. The price of gold keeps varying daily, and traders manage to change their prices quickly. In case of a gold surge, auctions can fall into the past or leap to unexpected levels.
Legal Guidelines of UK Buyers
Stay onside when it comes to gold coin purchases in the UK. The regulations are there to shield you and to hold off the sketchy business affairs.
VAT: Britannias, Sovereigns, Krugerrands, etc, are investment-grade gold coins which are free of VAT in the UK. This distinction is marked by most of the auction houses and dealers. It is possible that the non-UK coin or so-called gold-plated items will creep up the VAT or increased premiums.
Capital Gains Tax (CGT): Coins that are legal British tender, such as Britannias and Sovereigns, do not attract CGT to a UK resident. Foreign coins or historic coins which have not been officially classified as legal tender may be liable.
AML checks: Buying and selling with a dealer over a certain amount of money will require a swift identity and address check. This is not them being gossipy, but it is a legal need.
Think twice, three times, if a person comes up to you with a gold coin as an offer of half the ordinary spot rate. The famous scams of gold of high value, the scam and, most times, under the pretence that the deal is unbeatable, especially on social sites or advertisement platforms.
Tactics of Discovering Gold Truly On Sale
The shortcut to this process is research. Register with email notifications of auctions, monitor dealers’ websites online, such as 1ozgoldbritannia.co.uk and postings in numismatic forums. A lot of purchasers will arrange Google Alerts for definite coins or words. The appearance of a deal will make you aware quickly. Find the archive of past realised prices through auction archives or online price charts.
Haggle, don’t be shy. There are a few dealers who allow some level of flex here, especially when you are buying multiple coins or you are not a first-time customer.
