Selling sovereigns

vernon

Can any reader/contributor advise of experiences/recommendations for selling gold sovereigns? I inherited two full sovereigns and two half sovereigns and their entire life seems to have been stuck in a box for the last 100+ years waiting for the rainy day! I have decided the rainy day has arrived. Plenty of 'We Want Your Gold' type sites on the internet and even Ebay has sellers. Would appreciate information from anyone who has had hassle-free dealings in selling sovereigns. Many thanks.

DiggerUK

Vernon,
Hang on to them, they will never become worthless. Gold never does that.
Stay away from the "We want your goldsharks" they are a rip off.

These sites will give you up to the moment spot prices.
http://hattongardenmetals.com/gold-coins.aspx
http://www.elminvestments.co.uk/gold-coins.html

You can sell to your local coin dealers as well.
If they are in good condition and of some scarcity, you will get a higher premium than the bullion prices here.

vernon

Thank you DiggerUK. Very helpful. My thinking is that they have been held onto for too long, in a box, in the dark! I guess they could be bequeathed to the next generations for ever more until someone loses them! Elm Investments buying price looks fair. I appreciate the links.

DiggerUK

Vernon,
Paper money comes and goes, gold stays sound forever.
Are you rushing out to spend all your savings at the moment because they are sitting in a dark bank vault?
If you are, then your just daft.

Hang on to them,and consider this. They cost you nothing, if you start buying a sovereign now and then, you will be averaging in on a sound investment were you are starting at zero cost. That is any investors dream start.
They are also tax free when you buy, and tax free on any gains when you sell.

Don't panic, you won't turn into a goldbug just because you do something smart.

Best of fortune.

sabretoothtigger

Depends on the condition how much you get for them. If you want to follow the price, its printed in the daily telegraph every day how much a new sovereign is worth

Dont send them to a scrap place because I doubt they give a very good place. Sovereigns are free of any taxes so it can be better then an interest account.
If you've found something better to invest in then a sale sounds ok otherwise its not a bad idea to hold onto them as they are independant from government and boe money printing devaluation

Try asking on kitco forum as well just dont swap them for cash to put in a box instead

vernon

Thanks sabretoothtigger,
I don't think they have any special dates on them to interest collectors/investors. Chuckle, my own sabre teeth are now made of acrylic and I'm trying to raise some capital in any way to invest in a bit more monthly income.
Cheers

MissScarlett_3

Interesting thread.

I have a 1/10 Krugerrand dated 1984 sitting in a drawer also. Is this worth anything?

Baldur

MissScarlett wrote: »

I have a 1/10 Krugerrand dated 1984 sitting in a drawer also. Is this worth anything?

http://cgi.ebay.co.uk/A-Genuine-South-African-1-10-Gold-Krugerrand-Coin_W0QQitemZ140346652002QQcategoryZ533QQcmdZViewItem

http://cgi.ebay.co.uk/Krugerrand-1-10-1984-22-karat-gold_W0QQitemZ300349071738QQcategoryZ533QQcmdZViewItem

http://cgi.ebay.co.uk/1981-SOUTH-AFRICA-SOLID-GOLD-1-10th-KRUGERRAND-COIN_W0QQitemZ350255821821QQcategoryZ533QQcmdZViewItem

DiggerUK

MissScarlett wrote: »

I have a 1/10 Krugerrand dated 1984 sitting in a drawer also. Is this worth anything?

Not that this is going to get you telling the boss to "shove your damned job" (unless you spend it all on booze in your lunch break)
http://hattongardenmetals.com/gold-coins.aspx

http://www.coininvestdirect.com/main.php?a=10&id=1

Hang on to it, buy some more as time goes by, they are best for long term investment. You can never lose with gold.

All that for something the size of a shirt button hey.

sabretoothtigger

10/10 would be an ounce or 1000 dollars so you have like 50 quid or so


On something that small, it might be 69 to buy it but the spread will be alot I think so thats why I say 50 or so to sell

xqbgal

DiggerUK wrote: »

Vernon,
Paper money comes and goes, gold stays sound forever.
Are you rushing out to spend all your savings at the moment because they are sitting in a dark bank vault?
If you are, then your just daft.

Hang on to them,and consider this. They cost you nothing, if you start buying a sovereign now and then, you will be averaging in on a sound investment were you are starting at zero cost. That is any investors dream start.
They are also tax free when you buy, and tax free on any gains when you sell.

Don't panic, you won't turn into a goldbug just because you do something smart.

Best of fortune.

Ive just been reading through all these posts.
I have quite a lot of sovereigns that my late husband bought from the mint. They are in various presentation packages & my question is should I remove them from the packaging therefore making storage easier & less bulky (when hiding under the bed!!!) I was all for selling them but as I'm not desperate for the money perhaps it would be better to hang on to them so it really is a question of the packaging & presentation boxes that concerns me. Thanks