gold sovereigns

W

Wout

New Member
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
 
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.
 
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
 
Dwayne said:
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.
Click to expand...

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$$.
 
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
 
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
 
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