What is a gold sovereign worth?

Discussion in 'Gold Coins' started by stackmans, Aug 30, 2018.

  1. heartastack

    heartastack Well-Known Member Silver Stacker

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    I eat my words ant tip my hat to you....




    Capture.PNG
     
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  2. lunar

    lunar Member

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    I have no agenda and no incentive to talk up prices.

    Here's spot+1.5%


    I was actually offered spot+5% (slabs!) yesterday and turned down the offer.
     
  3. lunar

    lunar Member

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    That's actually wrong. Official number is something like 395 million.
     
  4. serial

    serial Well-Known Member Silver Stacker

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    Heartastack, they certainly did mint that many but i guarantee that a huge number have been melted down. Remember that they are currency and were used daily for goods and services, they would suffer wear and tear and would be removed by the reserve bank to be melted down once they were in bad enough condition. In addition sovereigns would regularly be used for international trade and often would be melted down once they arrived in their destination country. Thats tons of them being moved around the would, melted then turned into francs, us dollars etc
    Lunar i don't know if you're just massively ill informed or purposely misleading for an unknown personal agenda. But you are wrong
     
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  5. jultorsk

    jultorsk Well-Known Member Silver Stacker

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    I wish there were more offers like that available on the forum...
     
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  6. dross

    dross Active Member

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    Thanks Guys, seems Sov's are like most everything else, in of a world of their own with a whole lot of experience / learning to go along with it.
     
  7. hardyakkagold

    hardyakkagold Well-Known Member

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    Yep, it's like anything else in life, start of low and slow until you gain knowledge and experience.

    Low as in looking for the sovereign's with the lowest premiums (5% is realistically about the best you can hope for )

    And slow as in examining, weighing, and testing the coins so that you dont end up with a dud. ( I have a nice copy which tests at .900 fine)

    Leave the expensive uncirculated, rare date, rare mintmarks, and varieties until you have a bit of experience under your belt.
     
  8. KangaBanga

    KangaBanga Active Member

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    Did u buy an xrf machine to test your coins?
     
  9. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    XRF handheld is around $15K+. Sigma PMV is $1000-2000 and does the similar job, just put it on measurement mode
     
  10. bubblebobble2

    bubblebobble2 Well-Known Member Silver Stacker

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    Minting mintage and actual in circulation is two totally different thing... every refinery set the max mintage/minting to their production, but what is the availability on market now is much lower than its original mintage

    As to lunar, his ‘brain’ mintage is one, but what is available is none
     
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  11. serial

    serial Well-Known Member Silver Stacker

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    yes and it has a significant planchet flaw
     
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  12. hardyakkagold

    hardyakkagold Well-Known Member

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    Sorry for the slow response to your question KangaBanga, but I am rather busy on another forum atm so dont spend much time here anymore.

    In answer to your question no, I dont have a XRF machine to test my metals, I could never justify the cost.
    If I was a dealer who derived my income from precious metal trading then I would certainly not be without one.

    I have a buyer here in Melbourne who I sometimes sell sovereigns and $200 gold coins to and he has one, so I use his to test some of my
    stuff with him when selling gold coins to him.

    He saved my bacon on one occasion when a Gold Chinese Panda set that I had purchased a coupe of years earlier from Mossgreeen auctions turned out to be fake.
    Mossgreen staff dragged their feet a bit when I demanded a refund, so a personal email to Paul Sumner their CEO threatening police action soon speeded
    things up a bit;)

    It is handy to be on friendly terms with someone who has one of these machines that's for sure, if you dont have one yourself.
     
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  13. KangaBanga

    KangaBanga Active Member

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    well you guys in melbourne might not be lucky with the COVID but u sure are lucky with XRFs. I heard Bullion Now has one as well which they are happy to let their customers use when they not busy.
     
  14. IanPayne

    IanPayne New Member

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    Thank you guys for sharing this info.
     
  15. SlyGuy

    SlyGuy Active Member

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    Machine? Bah. Get a old school sovereign balance to test your sovs and half sovs. They're only around $50 USD and worked fine for over a century... and hey, they they still do. No joke... get one. :)

    The 999 gold is too soft and 1oz pieces too expensive anyways. Once you start on sovs, you really won't want any other gold types. They are great.

    [​IMG]
     
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  16. KangaBanga

    KangaBanga Active Member

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    GENIUS!!!
     
  17. hardyakkagold

    hardyakkagold Well-Known Member

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    How much is a sovereign worth?

    How about $569 each today! (that is what I purchased some sovereigns for today)

    So needless to say I am as happy as a pig in the mud, with the spot being still $600, it's been a while since I purchased sovereigns under spot.

    So there is definitely some positives with the recent lower gold prices (it has taken a lot of the heat out of the market).

    But you still need to get out there and find those bargains, so no use siting back and expecting them to come to you.
     
    Last edited: Nov 20, 2020
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  18. Roswell Crash Survivor

    Roswell Crash Survivor Well-Known Member Silver Stacker

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    *Literally spits out his drink* What kind of numpty is offloading gold under spot?
     
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  19. Mill3d

    Mill3d Active Member

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    A charlatan, grifter and a crackhead. Maybe Down’s syndrome, Alzheimer’s or pure malice (fraud, in the sense of it is not your gold) in extreme cases
     
  20. Mill3d

    Mill3d Active Member

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    I won’t quote the gloat after the above statement

    In reality, sovs are .2354 from recall

    That would make spot 603.7

    The difference is 5.75%

    This is a dealer price

    I’m not used to gloating dealers
     

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