Selling sovereigns

DiggerUK

xqbgal wrote: »

I have quite a lot of sovereigns that my late husband bought from the mint. They are in various presentation packages, should I remove them from the packaging.
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. The packaging & presentation boxes concerns me. Thanks

Hope you are more settled after your loss.

Depends on the coins. Can you provide a list. Bullion or proof, in sets, sizes?
And yes, hang on to them, you will never have worthless gold in your hand.
Don't go by the RM prices as to what they are worth, just use that to ID what you have.
CID site will give you ball park on what they are worth.

http://www.royalmint.com/store/catalogue/collectable/gold.aspx

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

leveller2911

I'm no financial whizz kidd (far from it in fact:D) but given the fact that as the stock market is pretty low at about 5000 compared to its highs of around 7000 ,people seem to be cashing in share ISA,s because the value has dropped.However its common knowledge that now is the time to be investing regular amounts into what should be a rising market.

Now given what Ive said in the above, Gold prices are at a lifetime high and as such I would SELL them.In my opinion gold will drop in value and that is the time to buy gold,you don't buy gold in a rising market.(unless you trickle invest)I wouldn't buy gold at the top of the market ,which its undoubtably at or near.

The whole idea is to buy low and sell high, thats the only way to make profit.......The part I will agree with is gold has and will always have a value whereas notes do not, but that case scenario is if we get Armageddon and we are not there yet...........

My advice for what its worth is to shop around and sell them and invest the profits in ISA.s etc..............Gold WILL fall in value.

sabretoothtigger

Gold prices are at a lifetime high and as such I would SELL them

adjusted for inflation they arent at a high. Stocks are lower then they were 10 years ago, commodities are lower then they were 30 years ago and companies can be replaced or become redundant but people will always need corn and other resources



those coins will be a bit like stamps, take it out and use it and its not worth half as much

leveller2911

Investments are cyclical Sabretooth, It is quite possible for the OP to sell the gold now (as its high) re-invest the money in stocks,ISA,s or whatever and for the gold price to fall and stock market to rise(No one actually knows for a fact what will happen). What most are saying on here is Not definate that keeping hold of the gold coins is the BEST way to get the greatest return...

Theres an old saying that says "make hay whilst the sun shines".......enuff said......

jdemaistre

DiggerUK wrote: »

You can never lose with gold.

I agree with the advice to hang on to them, but it is simply untrue that you can "never lose" with gold. If you bought gold in 1980, when it was at $850, and sold it now, you'd be losing more than half what you spent, since $850 in today's money approaches $2,500. I doubt the same would be true of most $850 investments made in 1980.

That said, as the 1980 example shows, gold is not at an all-time high when inflation is taken into account. And sovereigns - as legal tender - are one of the best ways to hold gold, since they're not subject to tax.

leveller2911

jdemaistre wrote: »

I agree with the advice to hang on to them, but it is simply untrue that you can "never lose" with gold. If you bought gold in 1980, when it was at $850, and sold it now, you'd be losing more than half what you spent, since $850 in today's money approaches $2,500. I doubt the same would be true of most $850 investments made in 1980.

That said, as the 1980 example shows, gold is not at an all-time high when inflation is taken into account. And sovereigns - as legal tender - are one of the best ways to hold gold, since they're not subject to tax.

I agree with most of what you say, but when buying new sovereigns you pay over the odds for the artwork,design where as bullion you don't.

I think the OP said the "rainy day" has come and may wish to sell.If they sell now they will get a good price whereas if they "need" to sell in say 18 months time the gold price could have dropped by 30% and hence my arguement is it all depends on whether and when someone "needs/wishes" to sell.........It all depends on personal circumstances...

jdemaistre

True enough, but you'll also receive more for them. You buy over gold's spot price and you'll sell over gold's spot price, so I don't think the premium is something to worry about. Sovereigns are also easier to sell, since they're widely recognised and you're less likely to have people fussing over provenance/authenticity, as they can sometimes do with gold bars.