What is a gold sovereign worth?

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

  1. 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.
     
  2. lunar

    lunar Member

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    That's actually wrong. Official number is something like 395 million.
     
  3. 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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  4. 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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  5. 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.
     
  6. KangaBanga

    KangaBanga Active Member

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    Did u buy an xrf machine to test your coins?
     
  7. 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
     
  8. 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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  9. serial

    serial Well-Known Member Silver Stacker

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    yes and it has a significant planchet flaw
     
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  10. 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.
     
  11. IanPayne

    IanPayne New Member

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    Thank you guys for sharing this info.
     
  12. 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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  13. KangaBanga

    KangaBanga Active Member

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    GENIUS!!!
     
  14. 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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  15. 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
     
  16. 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
     
  17. Mill3d

    Mill3d Active Member

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    Total rubbish unless you can substantiate it

    The spot price is now around 2475

    On Friday, the time of your post it was a lot higher 2566.70

    .2354 of 2566.7 = 604.2

    How many dealers on Friday in Melbourne were willing to sell a sov not only under spot, being 604.2, but also cognisant of their GST obligations of 10% on top?
     
  18. Mill3d

    Mill3d Active Member

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    Name one
     
  19. nicotineandcaffeine

    nicotineandcaffeine Active Member

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    He didn't say dealer.

    Most of my sovereigns were under spot. Usually -5% and up to -10%. Private sales.

    2020 was unusual as it pushed the price of sovereigns over spot.

    As for dealers Wynyard Coins was selling about 5% over earlier this year. Less GST and shipping and they were selling -5% or -6%. From memory Jubilee/Veilded Head EF and Edward/George UNC. I picked up a few Shield backs just beffore COVID, UNC but common dates, for $500 and $550.
     
  20. nicotineandcaffeine

    nicotineandcaffeine Active Member

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    My current buy back is $555.

    Not sure if Mill3d is new. Generally if you offer buy back plus a few bucks you'll get offered the sovereign.
     

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