Gold Sovereign for Sale

STAVROS

I would like to sell my 1911 gold sovereign valued online at £700. If I use Royal Mail do I need proof of its value? Do I need to have a certificate showing its value? I'm just thinking as in the news lately Royal Mail lost a valuable gold bar and now is prevaricating over compensation.

GrubbyGirl_2

Surely of you are selling it the proof is the sales receipt?  So if you sell on ebay you will have the sold price which will be evidenced and if selling to a company then they will no doubt have emailed you with an offer.

Having said that, have you contacted any of your local jewelers who buy gold?  I ask that because I sold a lot of gold to my local shop for a much higher value than I was offered online

soolin

STAVROS said:

I would like to sell my 1911 gold sovereign valued online at £700. If I use Royal Mail do I need proof of its value? Do I need to have a certificate showing its value? I'm just thinking as in the news lately Royal Mail lost a valuable gold bar and now is prevaricating over compensation.

You would need some sort of proof of value, especially if it is a private sale. Obviously you would need to use a suitable postage service as well, SD should cover it but check the limits as you may need an enhanced insurance. 

STAVROS

What I was thinking if the Royal Mail lost it they may ask for proof that I owned it and I don't have any apart from a photo I have just taken. 

Grumpelstiltskin

Honestly forget trying to sell it online, as someone said try your local jewellers/pawnbrokers. You may slightly less than online but no risks involved.

RFW

Grumpelstiltskin said:

Honestly forget trying to sell it online, as someone said try your local jewellers/pawnbrokers. You may slightly less than online but no risks involved.

Certainly fewer. I don't know any transactions that are risk free.

There are coin dealers around.

I've dealt with these in the past.

https://www.chards.co.uk/guides/sell-gold-sovereigns/134

SimonFF

Don't sell gold or silver through Royal Mail. Use a premium courier like DHL.

zackary71

Personally I'd go through companies like Chards, Bullions Direct or Atkinsons. I used one of them and seamless transaction. Posted via Royal Mail Special Delivery. If lost though, the problem you'll have is proof of value.  eBay Sold price isn't proof of value/ownership in the event of a claim. Maybe look for a local bullion merchant as they can verify authenticity of the coin.

mrcol1000

I sold a few of my grandads coin coins through Royal Mint. Some they just offer you a price and some they offer to put in one of their own specialist auctions. When I did it they did not charge you any seller fees.

strawb_shortcake

My Husband recently sold a sovereign, online it was suggested the value was £570, a local jewellers gave him £550

martindow

SimonFF said:

Don't sell gold or silver through Royal Mail. Use a premium courier like DHL.

Would DHL insure precious metals though?  I would use RM Special Delivery as already mentioned.