British Sovereighs - recognition during Phase III / Hyperinflation?

Discussion in 'Gold Coins' started by Roswell Crash Survivor, May 31, 2011.

  1. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    If I mention I was selling a 'Sov' here on SS, Just about everybody would know that I'm referring to a British Sovereign 22 karat gold coin, with a nominal gold weight of 0.2354 Troy ounces.

    They are relatively abundant in Australia due to the establishment of the Perth, Melbourne and Sydney Mints during various gold rushes.

    When it comes to a Phase III scenario for PMs or a Weimar-style hyper-inflationary scenario, dealers may not be able to afford to buy gold at market prices.

    Stackers/gold bugs would not be interested in buying, as they would be trading off their stashes for other assets/supplies.

    I'm guessing that leaves only the PM-less Joe public who will be looking to buy gold with other assets like land, assuming there is a government left over to register the deed with.

    Personally I fear has a stash of these will have trouble getting them recognized for their gold content.

    - Most of them are nearly a century old now and the toning means it doesn't look like 'shiny gold' non-stackers or non-dealers would expect.
    - They don't have engraved gold content like most other national gold bullion coins do

    Does anyone have valid counter-arguments that disproves what I'm posted here?

    Personally I like the look of Sovereigns but I can't bring myself to trade for one without addressing these concerns.

    (On the flip side I'd imagine they'd be less attractive to someone trying to burgle you. You could even easily hide them in a jar of worthless old fiat coins in a pinch.)
     
  2. rbaggio

    rbaggio Active Member Silver Stacker

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    Sovs are one of the most recognised (if the THE most recognised) gold coins in the world.

    I've heard stories of Allied WW2 pilots carrying sovs on them in case of being shot down in enemy territory ("... Quick! To the bullion dealer!")

    But seriously, this Phase 3 you speak of, when it hits, Joe Public will be seeing stories on Today Tonight about 'How To Identify Your Bullion' and ACA will run 'Which Gold is as Good As Gold'.

    EDIT: Why not own a mix? Some sovs, some krugs, some perth mint product, maybe a bar here and there.
     
  3. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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  4. pixha

    pixha Member

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    In such a situation - If it wasn't .999 then I would want some evidence to support your claims that it was gold.
     
  5. Jislizard

    Jislizard Well-Known Member Silver Stacker

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    You have a lot of Brits over here in Oz, most will recognise a Sov, lots of them used to be made into rings for men.

    A quick dip will bring back the shine.

    If phase 3 comes on with plenty of warning I would expect this to be one of the most faked coins available.

    Time to get out the scales!
     
  6. RhythmDoctor

    RhythmDoctor Active Member

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    The point within a circle...
    I like my sovereigns, rings tend to be chav's fashion, although my nana wears 2 rings with coins bent round her finger, quite nice actually.

    I'll be having a nice one in a bezel soon...
     

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