Counterstamped sovereigns

Discussion in 'Gold' started by stralian, Jul 14, 2011.

  1. stralian

    stralian New Member

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    Hi everyone, this is my first post - I'm a newcomer to this passtime and have come across something that I would like to pick your brains about.

    I was recently in Dubai and took the opportunity to buy some gold while there. Amongst my various purchases I also picked up some sovereigns. As my purchase was fairly large, I got these 11 sovereigns marginally under spot. I think I now know why.. I inspected them while there but somehow didn't notice that three of them had been counterstamped. Two with a small 21ct and one 21k. The coins in question are 1887- 1918 -1926, although I suppose that is irrelevant as they are more than likely fakes.

    My question is, and disappointment aside, what is the value of these coins? Are they jeweler's copies and if so, are they in fact 21kt? Any info would be much appreciated.
     
    stralian, Jul 14, 2011
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  2. Austacker

    Austacker Active Member

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    Welcome, yes I believe they are jewelers copies used for pendants and jewelery being a stronger mix of metals. You should still be able to work out the value using the Silver Stackers coin calculator at the top of the page - http://www.silverstackers.com/calculators/index.php?page=7 and just input 21k and the weight to give you a relative spot value. I am sure someone else will confirm this for you in case I have it a little wrong.

    Feel your pain but it shouldn't be too bad.
     
    Austacker, Jul 14, 2011
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  3. stralian

    stralian New Member

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    Thanks very much for that
     
    stralian, Jul 14, 2011
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  4. Butch

    Butch Active Member Silver Stacker

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    Sounds like a job for pikey!

    Welcome stralia no worries. everyone gets caught sometime. You could do a lot worse.
     
    Butch, Jul 15, 2011
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  5. RhythmDoctor

    RhythmDoctor Active Member

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    Hey, even us pikeys occasionally back a bad horse.

    Definitely feel your pain Stralia, There's a lot of die stamped/counterstamped sov's out there. It's a relatively simple oversight. Happens to the best of us :)

    At least you've learned now. Imagine amassing a huge stock of them, then finding out as you sell them... Anyway, keep on stacking, world coins can be a marketplace where people try to rip you off.

    I had a very similar experience today - I bought what I thought was an Austrian 20 Corona restrike at 200 bucks under spot. I got home and found out I'd got a 10 corona instead. Was a little annoyed, but not to worry, I still got it for $100 less than its worth :D
     
    RhythmDoctor, Jul 17, 2011
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  6. stralian

    stralian New Member

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    Thanks a lot everyone.. I will have em checked for good measure.. hopefully they are at least the 21kt they 'claim' to be. Again, thanks
     
    stralian, Jul 17, 2011
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