Interesting and thanks for the heads up. Fully understand that you cannot 'name and shame' for fear of legal action so perhaps you might want to suggest which fellow bullion dealers you respect and then the viewers can come to their own conclusions?

@lawrencechard5914

3 ай бұрын

I am not afraid of potential legal action in this case, in fact I would rather relish it, although litigation is time-consuming and costly. I understand and appreciate your suggestion about listing our "OK" competitors, but don't think I should be giving them free advertising. If you were in Germany, I would suggest Pro Aurum in Munich. In the UK, I would like to think that Chards would be the first choice about 90% of the time. For stuff we have not got, then Bleyer are worth considering, they seem to be very ethical and keen to provide good service. If asked in person, I have always been happy to provide my opinion whether favourable or not, for example we used to have a fellow numismatic coin dealer here in Blackpool, called Peter Ireland. He was a straight guy, and we both conferred and competed at the same time. He died about 10 years ago, but it would be nice to imagine he could read this. There was also a very nice guy in Bolton called Brian Dawson, an ex-teacher who collected ancient and hammered coins, Way baxk in the 1960s, he came and asked my advice about whether he should quit teaching, and go full time as a coin dealer. He did, and his son Paul followed him, as at one time was a director at Spink.

Thanks Lawrence, great video. The worst part isnt the fakes its selling in £500K of gold in February with spot at £1,600.

@lawrencechard5914

3 ай бұрын

That's a good point, and made me smile. Timing of investment aquisitions and disposals will hardly ever be perfect. The best part is that the owner at least doubled his money, and did so free of Capital Gains Tax, so I think he will still be smiling.

@shrimpman8422

3 ай бұрын

@lawrencechard5914 thanks Lawrence for the informative reply. The only reason I mentioned the £1600 spot price is that I also sold quite a few Oz's of gold at £1700 spot and missed out on ££££'s. In fact some of the gold I sold was purchased from Chards 1 oz Krugerrands and some best value 1/2 and full sovereigns, all of these coins did really well ( thanks to Chards excellent service) I suppose you always want more.

@lawrencechard5914

3 ай бұрын

@@shrimpman8422 Thanks for that further feedback. Now our team might encourage me to make more videos!

@alb7112

2 ай бұрын

Everyone has their reasons, no one can top tick the market if they really need the money

Scandalous. That customer bought in good faith, trusted those dealers to an extent where he/she never unwrapped them to verify quality.

@lawrencechard5914

3 ай бұрын

I agree completely, and it's one of the main reasons we shot this video, and my main message.

CHARDS are the 1st place i bought my 1st full Sovereign (I normally collect Silver) and it was a top quality Victoria Shield and i love it. I really like CHARDS and thank you for doing this video to help educate myself and being honest about what is out there to watch for and trust.

@lawrencechard5914

3 ай бұрын

Thank you. I am happy to hear you get great pleasure from owning that sovereign.

@dan2886

3 ай бұрын

@@lawrencechard5914 Thank you Mr. Chard. It was a 1866 (VF) (Young) Victoria Shield It was worth paying the few extra £ than the lower graded coin. I'd like to aim for the portrait set of Victoria and get the dates that mean soemthing to me. Your customer services are very helpful also. It's nice that i've been able to have a reply from you direct. So thank you for your time. Hope your weekend is wild and full of debauchery haa! :) Peace.

@lawrencechard5914

3 ай бұрын

@@dan2886 Thanks again. That's good to hear about our Customer Services, we do have a good team. I am nursing a problem with my left knee, which feels like I have torn or stretched something. It is quite uncomfortable and painful, so debauchery was out of the question. I did get in a good few hours of pinball though.

Thanks, Lawrence...I would not use anyone else bar Chards currently saving up to get a King Charles 1oz Britannia. Thanks for taking the time to share.

Always a delight to listen to your worth while educational views & wisdom on coins. Thank you. Kind regards.

Started buying Gold at £730oz. 10 years ago. I only ever buy from LBMA. Ok, higher premiums, but no worries regarding authenticity.

@lawrencechard5914

2 ай бұрын

We started selling gold sovereigns at £3.500 per thousand, about 60 years ago, before the LBMA existed. You should not necessarily pay higher premiums from an LBMA member. Did you know that Chards became an LBMA Full Member on 30th January this year?

@shauncorless8965

Ай бұрын

Started at 250 dollers a oz ,now I'm rich 😅😅😅

@lawrencechard5914

Ай бұрын

@@shauncorless8965 That's good to hear!

Thanks ❤

A very responsible video, thank you for sharing this information.

Excellent video. I can vouch for Lawrence. I reached out to Lawrence to ask if he could check a sovereign for me which looked a bit different to the one I received from a purchase I bought online and it looked in excellent condition for its age. Lawrence inspected it and tested it and gave me a report of his findings including check on composition. It was a highly polished coin so I suspect it could have been an ex jewellery coin . I got peace of mind and Chards offer an excellent invaluable service on this and charge a very reasonable fee. I dont know any other dealer that offers this service

@lawrencechard5914

3 ай бұрын

Thank you very much indeed. Hearing feedback like that makes it all worthwhile!

@TheOneTheyCallLouwie

3 ай бұрын

@@lawrencechard5914 Thanks Lawrence! Wishing you a nice weekend Dave

the number of reports on sovereigns being fake makes think i shuold just get modern britannias

@lawrencechard5914

3 ай бұрын

That's a point I mention in the video, although ultimately must be better to alert people to the risks. It is only a matter of time before fairly realistic looking fakes of modern Britannias appear on the market.

@davidporter9131

3 ай бұрын

Only buy from reputable dealers. Ones you know have gold penetrating capable testing machines. Like Chards and Atkinsons.

@davidporter9131

3 ай бұрын

When you say 'fake' do you mean not gold or not from the issuing mint?

@lawrencechard5914

3 ай бұрын

@@davidporter9131 I mean not authentic and original, so the latter of yout options, not from the issuing mint. Most of the fake sovereigns we see are gold, and often of high caratage. If they were only base metal, I would describe them as imitations or replicas. There is more information on a page on our oldest website. I do not think YT allow link here, but if you Google "Fakes and Replicas coin 24carat", you should find it. We may also have ported it to our newer, main site.

@lawrencechard5914

3 ай бұрын

@@davidporter9131 The first part there is the usual advice, but remember that, in the video, I do explain that the fakes and substandard coins were all from a "reputable" dealer. I happen to know this dealer uses a Niton XRF machine, as we do, but it is naive to rely on it to guarantee a coin is genuine. We use our Nitons as a tool to provide a quick indication of the alloy content (and not just the gold). If this is wrong, then the coin is fake, but if the alloy content is "correct", this does not guarantee the coin is genuine. I spent my first 50 years in business happily and reliably detecting fakes without using an XRF machine. Those who rely on XRF, or other testing, will probably never learn and never become expert.

Wow thank you very good reporting keep up the good

@lawrencechard5914

3 ай бұрын

Thank you, we are hoping to get another video out next week, including numerous 1887 Queen Victoria Golden Jubilee gold coins, including my worst nightmare coins.

16:42 I love these and all your informative videos Laurence.

@lawrencechard5914

3 ай бұрын

Thank you. They are hard work, and I really need to improve my presentation skills, and more.

You have a beautiful and amazing collection.

Sometimes I think they just make up these gold coins and they give you a good history story and a lot of people buy them and they never really existed in history. For me, I stuck with the basics, Eagles, krugerrrands, maples, basics.

Interesting! can you at least tell us the first initial of the company name? I wouldn't be surprised if it began with an A ... as I have had one too many issues with that dealer.. and will never use them again...

@lawrencechard5914

3 ай бұрын

Thank you, but I could not possibly comment! 😎

@smoggydrones5664

2 ай бұрын

If A stands for Atkinsons then I disagree. I have bought over 40 sovereigns from these guys and everyone was well packaged in sleeves and 100% genuine.

@lawrencechard5914

2 ай бұрын

@@smoggydrones5664 I am glad to hear you had a good experience.

Well my bosses all use and deal with Chard only and most live in London, well they have houses in London, with homes in the country, simply because of their professionalism. Chard even sourced a ruby for a new-ish boss that looked exquisite in the resulting ring.

@lawrencechard5914

3 ай бұрын

Thank you (again?). Do you know we are about to make it easier for them?

So were the fakes, counterfeits using real gold? Or were the fakes not gold at all?

@lawrencechard5914

3 ай бұрын

Yes, the fakes were gold. See one of my earlier answers. In some of our other videos, we also show Niton test results.

Bought 5 from sharps pixie ,london and what a mess they were ,looks like they had been hit with a hammer one was that worn it didnt even weighed the correct amount ,,i complained and they said people like them like that as there old 😮

Test every coin by weight, diameter, and with a good verifer. 😮

what are the fakes made of?

@Chard1964Ltd

2 ай бұрын

The fakes still have gold content, but this does not necessarily indicate that the sovereign is genuine. Most fake sovereigns are made of gold, but are sometimes also mixed with different metals.

Are these fake dealers based around the midlands per chance?

@lawrencechard5914

3 ай бұрын

More than one location. Apart from that, I could not possibly comment!

When you say they were fake, were they lower than 22k or completely base metal?

@lawrencechard5914

3 ай бұрын

I feel sure one of my colleagues Niton tested at least one of them on the day, but I can't find a record of it. Otherwise I think the fakes were all around 22ct.

If the weight is correct and the diameter and thickness are correct (checked with a jewellers scales and calipers), doesn't that prove that the sovereign is gold? It may not prove it's a numismatic sovereign but it shows that it's a bullion grade one.....or am I missing something?

@lawrencechard5914

3 ай бұрын

Yes to your first point, but just because it contains the right gold content, does not make it a genuine sovereign. Fakes are technically illegal to own without valid reason, and illegal to sell. With very few exceptions, fakes are never worth as much as genuine sovereigns.

@thewildgoose7467

3 ай бұрын

@@lawrencechard5914 Yes I understand what you're saying. However in the current financial situation some are buying sovereigns to have some gold rather than for their numismatic value, so if the weight/measurements are correct it means they are still getting their gold? So let's say for example I want to buy cheap gold and someone is selling a sovereign for €500. Once the size/weight are correct it would be worth buying, because at spot it would be worth €515 but if it's genuine it's value would be €550+ depending on year/condition.

@lawrencechard5914

2 ай бұрын

@@thewildgoose7467 As I write, spot gold in euros = €2181.85, making a sovereign worth €514.57 intrinsic. If you can by them at €500, which is about 3.0% discount, then you could theoretically scrap them for a profit, even if fake but 22ct. But who is going to sell to your at 3.0% discount? Why would genuine coins be worth €550, which is 6.9% premium? We offer genuine "Grade C" at 1.0% premium, and our choice bullion grade at 2.5% premium.

You should get together with the other good dealers and ring the fake pushing dealers and tell them to stop or you will band together with the other dealers and take them to court collectively. That way you have more clout, and shared cost.

@lawrencechard5914

3 ай бұрын

That is an excellent idea, and I have wondered whether and how we could make that happen. At least we are an LBMA member. I will try to raise the question when there is a suitable opportunity.

While i understand not wanting the drama or legal issues from naming and shaming bad dealers, it's not great for us customers. Have you considered naming a few of the most trustworthy of your competitors in one of these videos? Reinforce good behaviour if you won't punish the bad. That would engender a lot of goodwill.

@lawrencechard5914

2 ай бұрын

Someone else asked a similar question, and I did provide an answer.

Regardless of how credible the customer was, you would still be risking your reputation on the word of another party; who in theory (or another person connected with said person) could have done something untoward during period of ownership.

@lawrencechard5914

2 ай бұрын

Yes, you are quite right, which is another reason for us to be cautious. In this case, I do have more evidence although I have not shared or published it. Some of it would identify the dealer in this video.

who dose not look a them really hes putting it out there so people use him name these dealer to stop them doing this then dont just talk about it you want to help the coin game name them

@lawrencechard5914

3 ай бұрын

If you call into our showroom when I am there, I will happily tell you, and provide evidence.

I enjoyed this video but have mixed feelings. By not naming and shaming you are putting every other dealer under suspicion however I understand why. I buy from you and Atkinsons as the loyalty is to my wallet.

Fake but 22ct still ?

Super informative video. I hope yuo do not mind but I posted on one of my facebook groups to help the members in their pursuit of dealing with good reputable dealers. If not allowed let me know and i will remove. Thanks for your effort to educate people

@Chard1964Ltd

2 ай бұрын

Thank you for sharing our link to relevant people!

@lawrencechard5914

2 ай бұрын

We most certainly do not mind; in fact we probably owe you a beer!

I LEARNED NOTHING. You talked forever but did not give us multiple examples and how to check for illegitimacy.

Fakes, fakes, fakes - that is all Chards can talk about - sad!

@Hodler-bp5vt

3 ай бұрын

Nah, seems legit. You dont rrpresent anogher bullion desler ny sny chance 😂

@user-ql5nz9hc7k

3 ай бұрын

@@Hodler-bp5vt Honest to God - I do not! I'm just appalled by Chards' ongoing attempts to scare people into believing that his competitors are ignorant or devious enough to sell us fake sovereigns.

@user-ql5nz9hc7k

3 ай бұрын

@@Hodler-bp5vt Honest to God - I do not! I am just appalled with Chards' endless attempts to scare us into believing that his competitors are so ignorant or devious and trying to sell us fake sovereigns.

@derekdesmond-sf2mi

3 ай бұрын

Having looked at their channel, they have plenty of other videos that do not mention fakes

@user-cw9qn1nb2n

3 ай бұрын

If that is all Chard's can talk about that is fine with me. The more knowledge I have about fake gold coins the more chance I have of avoiding them.

It's all bollocks everything fake .buy off us 😂

@derekdesmond-sf2mi

3 ай бұрын

I don’t think that that’s what he’s trying to say! He mentions to be vigilant, and also mentions that there is other reputable dealers out there.

@lawrencechard5914

3 ай бұрын

Cynicism has its place, but would be better aimed in the right direction.

@2010ETHANC

3 ай бұрын

My bollocks are not fake ,

@lawrencechard5914

3 ай бұрын

@@2010ETHANC I hope you are not going to feature them in a KZread video! 😎