Discussion in 'Gold Coins' started by stackmans, Aug 30, 2018.
I eat my words ant tip my hat to you....
I have no agenda and no incentive to talk up prices.
I was actually offered spot+5% (slabs!) yesterday and turned down the offer.
That's actually wrong. Official number is something like 395 million.
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
I wish there were more offers like that available on the forum...
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.
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.
Did u buy an xrf machine to test your coins?
XRF handheld is around $15K+. Sigma PMV is $1000-2000 and does the similar job, just put it on measurement mode
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
yes and it has a significant planchet flaw
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.
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.
Thank you guys for sharing this info.
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.
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.
*Literally spits out his drink* What kind of numpty is offloading gold under spot?
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
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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