New vs Old: Pre-Owned Bullion Explained

The benefits of buying pre-owned coins and bars

For buyers looking to get the most precious metal for their budget, pre-owned coins and bars can offer excellent value. As these products have already been purchased and owned, they no longer attract costs such as manufacturers premiums, meaning they are often available at lower premiums than new items. This allows buyers to potentially save money when adding to their gold and silver holdings.

With the exception of coins with numismatic, historic, or collectible value, the value of a pre-owned coin or bar is primarily linked to the current market price of the precious metal. This means buyers of pre-owned items can often purchase the same amount of gold or silver while paying a lower premium compared to buying new.

Where do pre-owned coins and bars come from? 

Many of the pre-owned items we sell at Atkinsons are bought from previous clients, which means we often know the provenance of these products. When received, each coin or bar is thoroughly checked by our experienced appraisers and is tested using XRF technology to ensure we are confident that the pre-owned products we are selling on to our clients are 100% authentic.

Buying pre-owned gold 

Second-hand gold coins often represent excellent value, with some of the items seen most frequently being Gold Sovereigns, Britannias, and Kruggerands. Many of these are sold as ‘mixed dates’ at an even lower premium than other specifically dated coins and are particularly popular with our customers. These are restocked regularly so it is worth checking back often if you are hoping to buy some gold at a lower price.

On some occasions, the pre-owned gold coins and bars we sell on our site can often only be a few months or years old. Also, clients often sell full tubes of coins to us, sometimes having never even opened them, so these can often be as good as new.

Buying pre-owned silver

You can pick up an excellent deal with second-hand silver coins and bars. As we use the second-hand margin scheme, this means we are able to sell most of our pre-owned silver coins back to our clients without charging any VAT on top. This can make a big difference to the retail price, meaning great savings for silver stackers, so they tend to sell out quickly.

Demand for silver has spiked during the last couple of years, and buying pre-owned silver coins and bars could be a good way to get your hands on some silver at a lower premium than new, so it is worth regularly checking back with our ‘pre-owned silver’ page, as we update it regularly.

Do pre-owned coins and bars hold their value?

Buying pre-owned doesn’t mean your coin or bar will be worth less when you decide to sell. Provided it is in a good condition, a pre-owned bullion coin is valued in the same way as one you bought as new, based mainly on its precious metal content and the current market price.

Rare finds, historic coins, and collectible pieces 

One of the benefits of buying pre-owned is that it can give buyers the opportunity to find items that are no longer available to purchase new. This can include hard-to-find items with older designs, specific dates, low mintage releases, and graded coins.

Pre-owned collectible coins are often sought after by those who are looking for specific years, editions, or designs. Unlike standard bullion coins, where the focus is usually on obtaining the most gold or silver for your money, these coins can appeal to collectors who value their history, uniqueness, and scarcity.

Atkinsons regularly buy and sell pre-owned collectable, low mintage, graded, and proof coins, giving collectors the opportunity to find products that may no longer be available to buy new.

Should I buy new or pre-owned coins and bars? 

For those who are looking to get the most physical gold or silver bullion for their money, buying pre-owned can often be a good option.

New coins and bars are usually bought from various mints or refiners, attracting costs such as manufacturer's premiums and are therefore often more expensive than second-hand ones. With the exception of coins with numismatic or collectible value, bullion dealers will often sell pre-owned gold and silver coins and bars at lower premiums than new, saving the client money. Buyers of silver also have the opportunity to save money on VAT by purchasing pre-owned silver coins.

It is also worth remembering that when you come to sell your bullion, a pre-owned coin isn’t automatically worth less than a new one. As long as it is in good condition, its value is mainly based on the amount of precious metal it contains and the current market price.