Gold coins Harrington and Byrne. help!

ceewash

Ok I've just spoken to H&B. It seems Dad had 2 coins. The £5 coin that goes with the paper work was a "freebie." The sovereign is an 8g coin that we will have to find out if he has the certificate for. All very helpful. They had taken him off the call list in August. So that just leaves me with one question - Why was the sovereign £699? Most are in the region of £350, which is actually the gold weight/ value. 

DiggerUK

ceewash said:......It seems Dad had 2 coins. The £5 coin that goes with the paper work was a "freebie." The sovereign is an 8g coin that we will have to find out if he has the certificate............... Why was the sovereign £699? 

The 'sovereign coin' you gave a picture for is a gold round, if it matches the gold specifications for a UK legal tender gold sovereign the paper work should say it weighs 7.98g of 22ct gold, equalling 7.32g of fine gold.

If that is the case then your dad has received 7.82gms of fine gold worth about £324. The reason your dad paid £699 is because it was the price agreed.
Nobody likes paying over the odds, but be kind to your dad. At least you publishing here can serve as a warning..._

ceewash

Yes that is what I hoped, that others would take note. Has any "offence" been committed or has he just agreed to an inflated price. I need to find the paperwork when I go this week. I feel I should ring back and ask them something about the price.

ColdIron

Is it a proof sovereign? These could easily be offered for twice the value of their gold content

DiggerUK

ceewash said:......Has any "offence" been committed........

As a fully qualified barrack room lawyer, no..._

Alexland

ceewash said:

Has any "offence" been committed or has he just agreed to an inflated price.

It sounds like he just paid more than it was worth.

At least the coin has some residual value unlike the junk he could have bought from a home shopping channel.

ceewash

ColdIron said:

Is it a proof sovereign? These could easily be offered for twice the value of their gold content

Wow that gives me some hope. I need the paperwork!!!

ceewash

Alexland said:

ceewash said:

Has any "offence" been committed or has he just agreed to an inflated price.

It sounds like he just paid more than it was worth.

At least the coin has some residual value unlike the junk he could have bought from a home shopping channel.

He does that as well.

JamoLew

ceewash said:

Yes that is what I hoped, that others would take note. Has any "offence" been committed or has he just agreed to an inflated price. I need to find the paperwork when I go this week. I feel I should ring back and ask them something about the price.

no more so than taking the cost of individual raw materials in any product and then wondering why you have paid 1000% more than their actual cost

The gold has an actual value but then there is the minting costs, presentation, advertising,admin,company profit etc etc to be added on

Gold today is £1360 an ounce -- but you  would find it nigh on impossible to find a commercial premises that would sell it to you at that price

As above - he has just paid over the odds

Alexland

ceewash said:

Wow that gives me some hope. I need the paperwork!!!

Don't get too excited - ColdIron said 'offered' not worth,

https://www.thisismoney.co.uk/money/saving/article-6636211/Royal-mint-rip-New-gold-Sovereigns-cost-twice-worth.html

"Although this can excite coin collectors – numismatists – it is unlikely to add any value for investors who just see it as bullion."