Gold coins

[Bodd]

On Sky News channel

There is an advert to buy 22 carat gold coins for £99.00 There is only going to be a 1000 or so made. Is this a serious investment?

 

[Mottie]

How big are the coins and what do they weigh?

 

[Bodd]

How big are the coins and what do they weigh?

They are I think the size of a ten pence not sure of weight

 

[EddieM]

You'll perhaps not be surprised at the answer. They aren't a good buy.

 

[Ihavenojob]

On Sky News channel

There is an advert to buy 22 carat gold coins for £99.00 There is only going to be a 1000 or so made. Is this a serious investment?

22ct gold is £40.242 a gram, so if it weighs less than 2.5 grams it's not worth it.

 

[Bodd]

https://hattonsoflondon.co.uk/product/the-2020-dunkirk-80th-anniversary-gold-quarter-sovereign/


This is it

 

[Bodd]

You'll perhaps not be surprised at the answer. They aren't a good buy.

That would not surprise me...

 

[EFLImpudence]

Then I'll give you 25p for one.

 

[Bodd]

22ct gold is £40.242 a gram, so if it weighs less than 2.5 grams it's not worth it.

But is it about the collection and design rather than the melted down value

 

[Mottie]

22ct gold is £40.242 a gram, so if it weighs less than 2.5 grams it's not worth it.

Quarter sovereigns weigh 1.997 grams.

 

[teaboyjim]

Gold coins are often advertised on Sky News

 

[Ihavenojob]

Quarter sovereigns weigh 1.997 grams.

So about £80 worth of gold. Better off buying a bog standard sovereign, you'll still pay a bit OTT, but not that much, and you'd sell it easier.

 

[sparxxxx]

Is this a serious investment?

The catch is the spread, the difference between buying and selling price, probably about £40, so your £99 investment would have to grow to £120ish to sell it at £100ish, or if you sell straight after buying you'll get £80ish

 

[JohnD]

When you sell it, you will get the scrap value, which is today about £80.

The price to buy a full gold sovereign today is about £354
If you sold one, you would get about £317, and would probably have to pay for insured postage to send it.

You can sell a quarter sovereign for about £80, less your costs.
The only people making a profit are the crooks selling to you at an inflated price.
90% of the profits go to Hattons.

There is no memento value.

Not much profit there, even though the price of gold today is around 25% more than it was a year ago.

You would have done much better if you'd bought gold prior to the day of the Brexit referendum.

 

[Ihavenojob]

The only people making a profit are the crooks selling to you at an inflated price.

But that is how business works, Ford won't sell you a car and then buy it back for more, so are they crooks as well ?

You would have done much better if you'd bought prior to the day of the Brexit referendum.

If you bought in 2011 and sold the day after the Brexit vote, you would have lost money. If you bought after the Brexit vote and sold now, you would have made a killing, though both scenarios depend on the day you buy and sell, and have nothing to do with Brexit.