£10 was from cash converters which is a shop that buys things mostly from the very poorest and most desperate people so they offer super low prices knowing that their customers are too desperate to walk away because they need money immediately.
The bullion game in the UK is absolute rubbish compared to in the USA. In america coin shops will give you spot price + about 5-6$ on top for a bullion coin, so your always get above spot in america but here in the UK everywhere offers below spot, even for a perfect coin. Ive never been to a shop in the UK thats offered me bang on spot or above, its always under spot. Don't sell in the UK, buy in the UK then sell abroad.
I don't think coin shops in America will give you 5-6$ over spot on silver. Maybe on gold. For silver eagles in America you may get a buck over spot. For Britannias I'd guess spot or a bit below.
You asked the wrong questions. You should have asked silver bullion Britannia 1 oz prices: 1, Silver spot; 2. Buy price; 3. Sell price. These questions would expose naked theft.
The lady (in this business) should know the basic difference between a troy ounce (31.1035 grams) and a normal ounce (28.35 grams). At least, should have, when it was mentioned to her that it was a 'Britannia'. Yes, at present you can get a price equal to spot for a '1 ounce Britannia' (if without milk spots/of post 2012) if you research well and connect with a seasoned UK bullion (online) dealer.
Went to cash converters or similar shop two weeks ago, two brittiannas in the window £25 eash snap their hands off got home found out the were the both rat tail one with the smooth edge. I don't think they know much about coins they buy it cheap from the poor and sell quick.
on the first call you said the silver britannia weight was one ounce, and she quoted a price for one ounce, However your coin is actually one troy ounce which is heavier than a normal ounce. Cash Converter probably would not have realised that (unless you come across someone who collects or takes an interest in coins personally) as they specialise in nothing and sell virtually anything. I personally would never approach those sort of shops to sell coins, they are not coin or bullion dealers. I get business's need to make a profit, but they always pay so low. Most of the time they evan pay below scrap value for a bu coin. Once I had two silver britannia's both in perfect condition and both the same year, one was a proof coin and one was a bu coin. The dealer offered me slightly more for the bu coin and less for the proof coin even though a proof coin costs more to buy. The reason given was proof coins do not have the same demand as bu! Well you live and learn I guess.
It's same as anything else, 'We buy any car', apparently they're even worse because they'll tell you the top end price over the phone, then come out and be like, '2 curbed alloy, slight ding in that door and you've only got 1 key....gunna knock a grand off for that...take it or leave it'
The first call - she was offering £10 for what she said was 28g - sounds like she thought you were offering a 28g commemorative crown in sterling silver, not a .999 bullion coin. The girl at about 6:00 who said bring it in may have been smart - they maybe knew that silver Britannias vary and are more collectable according to the date and the alloy. Or they may just have been dumb, not sure what you had to offer.
Got to remember they are businesses out to make a profit. They pay you £10 and they will probably sell it for £18 or whatever the market value currently is.
Even taking tax into account most buy silver britannias in below spot and will sell at least £26 retail. Maybe your subscribers will have cottoned on to the better prices accepted within online precious metal communities. These exercises illustrated the benefits of networking, even developing a relationship with your local coin dealer. Let him or her know what your interest is and what duplicates you can trade with, if a lower margin can be collected from you, because you hold potential stock for him/ her you both benefit.
Lol... it's crazy in the UK....we are way behind on the gold n silver market in the UK.. all we care about in 9k scrap gold for some reason...crazy..... New to the channel anyways..🤘🙏🤙👍
The UK Lacks the stacking culture that the USA has, we can see this because like 90% of stacking channels are from the US. Also most of my viewers are from the US. This is a good sign for us because it means we're early in the UK stacking game. Thanks for stopping by my channel 👍🏻
Here’s a recommendation when calling dealers. Individuals should say the following: What’s your offer price for silver Britannia 1 oz coins in mint condition? No need to ask if they are purchasing silver or gold coins. If they do not purchase these coins, they will tell you.
If you have to ask if they buy bullion you're getting ripped off. If they have to "check the system" you're getting ripped off. You should know what you have before calling and they should know the going rate for the most common denomination of silver in the UK. This video isn't at all representative of the bullion market in the uk and if you step foot inside Cash Converters for any reason other than buying a stolen set of Technics you deserve everything you get.
I hate cash converters they pray on the poor and rip people off but in hindsight if you are looking to buy silver check car boot sells and charity shops bring a magnet to check as well
Love your videos gold standard, but my god is it frustrating 😅, they are going to tack on at least a £10 premium when they sell and they can't even manage spot price. Spot being the value of a 1 ounce lump of melted silver never mind a minted coin 😡
Yeah you could hear my voice after she said £10, I was shocked at how low that is, these coins shops prey on ignorant people, people who are probably selling inherited silver and who have no idea about silver.
Businesses and dealers have got to make a profit. Personally if I had any I wanted to sell I would try to sell it myself on eBay(other online auction sites are available but hardly anyone uses them). The current market value is about £18 per ounce of silver.
Haha try to sell gold also to a shop he will give you a shit price, it's not bec of silver, shops are thieves, they will take it from you with the cheapest price and then sell it with the highest price. Even in gold, I tried to sell a necklace weight 7 grams with I bought it for 500$ the shop offered me 300$. I laughed and left. They will steal you with whatever you have.. I buy silver bu from Europe for 33$ an ounce and sell it for 60$ where I live to people.
Interesting video. Glad you did this one. The £15.50 the last one quoted was for Sterling Silver. So, guessing they would have likely given you the best price for the Britt. Out of the selection you chose. I thought it may prove a bit of a challenge to sell Silver here in the UK and before I stack more, I must get around to doing some more research myself.
Why you have to be a little carful with silver especially, like should have a couple of grand emergency fund in *cash* before you even think about PM's, had a few mates who lost out because they needed like £700 by the end of the week, so didnt have time to ebay it.
£10 was from cash converters which is a shop that buys things mostly from the very poorest and most desperate people so they offer super low prices knowing that their customers are too desperate to walk away because they need money immediately.
£10 for a royal mint coin that costs around £26 today with VAT Wow! glad I don’t have any, I’ll stick with Gold.
Ebay
A lot of the shops only care about the weight not about the coin, it would be interesting to see the same thing done with gold though
Do you really think for gold it works differently ? It's that same man.
@@zdzisawdyrman7789 lol same my ars i can buy gold for 10k and sell it the same day for 9.6k easy
The bullion game in the UK is absolute rubbish compared to in the USA. In america coin shops will give you spot price + about 5-6$ on top for a bullion coin, so your always get above spot in america but here in the UK everywhere offers below spot, even for a perfect coin.
Ive never been to a shop in the UK thats offered me bang on spot or above, its always under spot. Don't sell in the UK, buy in the UK then sell abroad.
I don't think coin shops in America will give you 5-6$ over spot on silver. Maybe on gold. For silver eagles in America you may get a buck over spot. For Britannias I'd guess spot or a bit below.
I'm from USA and love Britannias such a nice coin. The 10 oz are absolutely amazing with the Tudor beasts my favorite coins right now.
You asked the wrong questions. You should have asked silver bullion Britannia 1 oz prices: 1, Silver spot; 2. Buy price; 3. Sell price. These questions would expose naked theft.
28g even though a troy ounce is 31.1g lol @1:55
I came to make the same comment. 😂😂😂
Atkinson bullion best place to sell. 20% above spot
False. Their website shows they buy silver Britannias for 8% above spot.
@@Dementia_Joe stand corrected just checked. But 8% is better than spot
Crazy low prices, makes you wonder if people actually sell at that price
Yeah only fools would sell for 41% below spot, online dealers offer better prices. Thanks for commenting MDB!
The lady (in this business) should know the basic difference between a troy ounce (31.1035 grams) and a normal ounce (28.35 grams). At least, should have, when it was mentioned to her that it was a 'Britannia'. Yes, at present you can get a price equal to spot for a '1 ounce Britannia' (if without milk spots/of post 2012) if you research well and connect with a seasoned UK bullion (online) dealer.
Went to cash converters or similar shop two weeks ago, two brittiannas in the window £25 eash snap their hands off got home found out the were the both rat tail one with the smooth edge. I don't think they know much about coins they buy it cheap from the poor and sell quick.
I tried it once didn't plan on actually selling one i was offered 5 pounds 50 pence 😂😂😂 silver was 22 quid something per ounce
on the first call you said the silver britannia weight was one ounce, and she quoted a price for one ounce, However your coin is actually one troy ounce which is heavier than a normal ounce. Cash Converter probably would not have realised that (unless you come across someone who collects or takes an interest in coins personally) as they specialise in nothing and sell virtually anything. I personally would never approach those sort of shops to sell coins, they are not coin or bullion dealers.
I get business's need to make a profit, but they always pay so low. Most of the time they evan pay below scrap value for a bu coin. Once I had two silver britannia's both in perfect condition and both the same year, one was a proof coin and one was a bu coin. The dealer offered me slightly more for the bu coin and less for the proof coin even though a proof coin costs more to buy. The reason given was proof coins do not have the same demand as bu! Well you live and learn I guess.
Where did you get your coin cases from? cheers
Royal mint
Just sell to a bullion dealer ... Atkinsons
That sucks tbh. Here in the states a reputable dealer will pay above spot. I guess maybe cause you guys got a VAT on silver they need to pay less.
It's same as anything else, 'We buy any car', apparently they're even worse because they'll tell you the top end price over the phone, then come out and be like, '2 curbed alloy, slight ding in that door and you've only got 1 key....gunna knock a grand off for that...take it or leave it'
The first call - she was offering £10 for what she said was 28g - sounds like she thought you were offering a 28g commemorative crown in sterling silver, not a .999 bullion coin. The girl at about 6:00 who said bring it in may have been smart - they maybe knew that silver Britannias vary and are more collectable according to the date and the alloy. Or they may just have been dumb, not sure what you had to offer.
Got to remember they are businesses out to make a profit. They pay you £10 and they will probably sell it for £18 or whatever the market value currently is.
Even taking tax into account most buy silver britannias in below spot and will sell at least £26 retail.
Maybe your subscribers will have cottoned on to the better prices accepted within online precious metal communities.
These exercises illustrated the benefits of networking, even developing a relationship with your local coin dealer.
Let him or her know what your interest is and what duplicates you can trade with, if a lower margin can be collected from you, because you hold potential stock for him/ her you both benefit.
Lol... it's crazy in the UK....we are way behind on the gold n silver market in the UK.. all we care about in 9k scrap gold for some reason...crazy..... New to the channel anyways..🤘🙏🤙👍
The UK Lacks the stacking culture that the USA has, we can see this because like 90% of stacking channels are from the US. Also most of my viewers are from the US. This is a good sign for us because it means we're early in the UK stacking game. Thanks for stopping by my channel 👍🏻
@@thegoldstandard721 My thoughts exactly. Get while the getting is good here in in the UK before the masses wake up.
Here’s a recommendation when calling dealers. Individuals should say the following: What’s your offer price for silver Britannia 1 oz coins in mint condition? No need to ask if they are purchasing silver or gold coins. If they do not purchase these coins, they will tell you.
Looks like we should all have some scrap sterling silver just so we don't have to sell icons cheap if we ever needed to👍
If you have to ask if they buy bullion you're getting ripped off. If they have to "check the system" you're getting ripped off. You should know what you have before calling and they should know the going rate for the most common denomination of silver in the UK. This video isn't at all representative of the bullion market in the uk and if you step foot inside Cash Converters for any reason other than buying a stolen set of Technics you deserve everything you get.
I hate cash converters they pray on the poor and rip people off but in hindsight if you are looking to buy silver check car boot sells and charity shops bring a magnet to check as well
Love your videos gold standard, but my god is it frustrating 😅, they are going to tack on at least a £10 premium when they sell and they can't even manage spot price. Spot being the value of a 1 ounce lump of melted silver never mind a minted coin 😡
Yeah you could hear my voice after she said £10, I was shocked at how low that is, these coins shops prey on ignorant people, people who are probably selling inherited silver and who have no idea about silver.
@@thegoldstandard721 oh for sure and don't forget, "it's only silver so i can't offer much" 😅, keep up the good work 👍
This video is really putting me off getting started in silver. What's the point if nowhere pays the correct price
Gold is easier to sell at the correct price, that's why I have gold as #1 in my stack and silver as #2
Businesses and dealers have got to make a profit. Personally if I had any I wanted to sell I would try to sell it myself on eBay(other online auction sites are available but hardly anyone uses them). The current market value is about £18 per ounce of silver.
Haha try to sell gold also to a shop he will give you a shit price, it's not bec of silver, shops are thieves, they will take it from you with the cheapest price and then sell it with the highest price. Even in gold, I tried to sell a necklace weight 7 grams with I bought it for 500$ the shop offered me 300$. I laughed and left. They will steal you with whatever you have.. I buy silver bu from Europe for 33$ an ounce and sell it for 60$ where I live to people.
Bumping it up to £10 what a rip off you are better off going to Tavex Bullion where you will get close to spot price for your gold and silver bullion.
Interesting video. Glad you did this one.
The £15.50 the last one quoted was for Sterling Silver. So, guessing they would have likely given you the best price for the Britt. Out of the selection you chose.
I thought it may prove a bit of a challenge to sell Silver here in the UK and before I stack more, I must get around to doing some more research myself.
I brought a 1oz brittania from cash converters but actually wondering if its real her face looks a little off. Considering returning it tomorrow.
Which shop did you buy it?
I bought it in West London. Turns out it was fine. A few weeks later I went back and bought 3 more Britannias.@@celinejesus7703
The lady is clueless.
LOL, she didn't even look at spot price, let alone an actual price for that specific coin.
31.1 gms you should be stating that its a troy oz.
I’ll buy them all for 11 pounds from you. Lol
Cash Converters are not coin dealers.
Send off to be valued sounds so scammy
Cash converters.?? Sell to a bullion dealer
Why you have to be a little carful with silver especially, like should have a couple of grand emergency fund in *cash* before you even think about PM's,
had a few mates who lost out because they needed like £700 by the end of the week, so didnt have time to ebay it.
Smoke me a kipper silver