gold sovereigns

Discussion in 'Gold' started by Wout, Aug 12, 2011.

  1. Wout

    Wout New Member

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    Hey im new to buying gold coins or anything with numismatic value until now

    i bought 4 gold sovereigns (0.2354 oz of gold in each) for $1774 posted

    is this a decent buy considering the spot at perth mint said $1717?

    i just went off ebay prices and the value of the 0.94 oz of gold in them

    thanks for replies
     
    Wout, Aug 12, 2011
    #1
  2. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Doing research after you've parted with your money?
     
    Clawhammer, Aug 12, 2011
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  3. Dwayne

    Dwayne New Member

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    So assuming a spot price of $1717 that would imply a 10% premium to spot. That's a little more than I like to pay (spot + 6-7%), but doesn't sound too terrible a price.
     
    Dwayne, Aug 12, 2011
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  4. jpanggy

    jpanggy Active Member

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    That really depends on what spot was, assuming it was near 1800 ... yea not bad of a price.

    At this spot ... please have a look at my listing :D
     
    jpanggy, Aug 12, 2011
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  5. Austacker

    Austacker Active Member

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    Depends also if there was any Numismatic value.
     
    Austacker, Aug 12, 2011
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  6. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    Going by Spot at the price of sale, it was 7.5% over Spot. Hmmm.... How does Captain Kookaburra know the time of sale? :D

    Glad to see you over here at Silver Stackers.... Welcome...

    Regarding price differentials, you need to consider that a commercial platform like Spotmex charges a small percentage to sellers to sell their goods.

    But anything that comes through Silver Stackers isn't subject to a mandatory percentage, ergo slightly cheaper.

    Having said that, traders are encouraged to contribute to the running costs of this site through donations. Spotmex is one of those sponsors. :)

    I see Silver Stackers as a pay up front model (optionally), whereas Spotmex is more "pay as I go".

    So the moral of this story is .... Hit me up here! and save$$.
     
    Captain Kookaburra, Aug 12, 2011
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  7. Captain Kookaburra

    Captain Kookaburra Well-Known Member Silver Stacker

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    Trust me ... Absolutely no Numismatic value.....:rolleyes:
     
    Captain Kookaburra, Aug 12, 2011
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  8. Mr Medved

    Mr Medved Member

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    If it include postage then it is a reasonable price based on current spot price.
     
    Mr Medved, Aug 13, 2011
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  9. millededge

    millededge Active Member

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    I tend to go by resale value to a dealer as the benchmark

    Sovs are a tricky item

    They tend to have a large spread

    eg ABC now 450 buy, 391 sell

    thats a spread of 59, or about 13% premium on buy price

    another way to look at it at the timeline where resale to a dealer = your buy price now.

    sovs at abc went for 385 this time last year from recall

    therefore, the time lag is one year, to break even, with this conversative method
     
    millededge, Aug 13, 2011
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  10. millededge

    millededge Active Member

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    the other point worth a thought is GST

    a quick calculation is .2354 = about 400

    and sovs are about 440

    that smells like gst

    certain bullion coins attract gst as they are not pure gold or pure silver

    I recall sovs are alloyed with copper, so I wouldn't be surprised if they are slugged
     
    millededge, Aug 13, 2011
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