Swampy

Just checking in to read the thoughts and comments on this thread… it’s always insightful with a good splattering of humour. 
I was just thinking about the sell off of Gold in 1999…. I think it’s something like this…? 
1999 - 395 tons @ $275 oz 
So imagine if Brown had held…. 
2024 - 395 tons @ $2233 oz 

Ho hum…. 

 

Just checking in to read the thoughts and comments on this thread… it’s always insightful with a good splattering of humour. 
I was just thinking about the sell off of Gold in 1999…. I think it’s something like this…? 
1999 - 395 tons @ $275 oz 
So imagine if Brown had held…. 
2024 - 395 tons @ $2233 oz 

Ho hum…. 

 

Just checking in to read the thoughts and comments on this thread… it’s always insightful with a good splattering of humour. 
I was just thinking about the sell off of Gold in 1999…. I think it’s something like this…? 
1999 - 395 tons @ $275 oz 
So imagine if Brown had held…. 
2024 - 395 tons @ $2233 oz 

Ho hum…. 

 

Just checking in to read the thoughts and comments on this thread… it’s always insightful with a good splattering of humour. 
I was just thinking about the sell off of Gold in 1999…. I think it’s something like this…? 
1999 - 395 tons @ $275 oz 
So imagine if Brown had held…. 
2024 - 395 tons @ $2233 oz 

Ho hum…. 

 

Just checking in to read the thoughts and comments on this thread… it’s always insightful with a good splattering of humour. 
I was just thinking about the sell off of Gold in 1999…. I think it’s something like this…? 
1999 - 395 tons @ $275 oz 
So imagine if Brown had held…. 
2024 - 395 tons @ $2233 oz 

Ho hum…. 

 

Sorry to take this thread off at a tangent but in February I went to the Titanic exhibition in Vegas. It was really good and they have some of the sovereigns that were recovered from the seabed:
 
 

On the G&D device, wear tends to show on the visor on George's helmet, the reins on the horse and the dragon's chest.  There's not a lot of visible wear here.  I'd say this was EF, as there isn't much wear - but the coin is not uncirculated.  If the coin was worn to the VF level (actually quite unlikely to happen on a George V sov) you would expect to see flattened spots on the dragon's chest, and his helmet visor, and the reins on the horse's neck worn away.  The example below shows what a G&D reverse looks like with more wear.
On the obverse, you get wear on the highlights of Georges hair (the original finish will wear off this), and wear on the end of George's 'tache and his ears.  I'd characterise this coin as EF, as there is only slight wear; indeed the EF example in Allen has more wear than this.  If it was worn to VF you'd expect to see flattening on the ear and moustache, and much of the detail worn off his hair.
The handling marks would be non-grading damage at this level.  There are no major edge knocks or marks on the sensitive areas (bust or fields) of the coin.  I'd characterise this as EF.  Not a particularly good EF, but really no less than that.  It's not especially good condition by George V standards - I'd say EF is about par for the course on pre-war Georges - but it's not in really bad condition either.
Other designs show wear in different places.  
I suggest you get hold of a copy of Allen's Grading British Coins.  This has photos of all the major obverse and reverse designs on British coins in various grades, and discusses the wear patterns. 
 

Here's another photo, this time of a jubilee vic, that shows wear on the original mint finish.  Because of the angle of the lighting, the bright patches are where the original satin finish on the coin remains, and the darker patches are the highlights of where it wears off.

 
This rather ghostly number shows the same thing on a George V sovereign with some of the original finish remaining.

These beauties...

quick thanks to brnlx639 for this 1963 sovereign super fast delivery and excellent to deal with

Finally here 😊

Bought this lovely original US 1866 seated liberty today.
Probably an XF 40 or 45.
San Francisco mint mark on the bottom of the Eagle. 

Well, for the first time in ages i bought the tiny dip yesterday and spot is still actually higher this morning. Very pleased to have picked up these Edward Sovereigns from a pot luck best price buy. My first actual circulation Sovereigns and also if my failing eyesight doesn't betray me, i believe the 1909 has an S for Sydney (the tail detail isn't as soft was it looks in the pic, that's just the limitations of my camera or more likely my photographic skills!).

A good metric would be is how many hours do you have to work per sovereign year on year.  It will be different for some as income change.
In 2017 the average wage is estimated to be £28,795 in 2023 its £33,000.  
In very broad terms £200 a sov in 2017 thats 143.9 sovereigns per year top line the average wage paid 
 today £405 a sov in 2023 thats only 81.4 sovereigns per year top line of the average wage paid 
works out a 43% pay cut  for  renumeration.paid in sovereigns (and this is factoring in you have had  pay rise over the last 5.5 years WTF!)  😳
  this is very broad but when you factor in other costs ie cost you more to get to work, fuel, train, food, and you have much higher living costs than 2017, the pound has lost well over 65-70%+ in only 5.5 years. 
1872 hours worked in 2017 13 hours worked top line per sovereign 
1872 hours worked in 2023 22.99 hours worked top line per sovereign 
Now back to work slackers before you are working a month to buy a sovereign!  
EDIT......For you to have the same work-hour gold ratio then the average wage today need to be £58,279.50p to keep buying gold sovereigns at the same rate 143.9 per year 

McDonald's closed all their Russian branches.
Putin is done.
 
£1565!

A few more sovereigns and halves thanks to @ilovesilverireallydo
 

I’m always wrong about short term gold price. Always!
However, I am going to stick my neck out and say that I think that we are going to see more strong upside this coming week.  War is driving sentiment but just look at the inflationary pressures that are now becoming evident: Energy, Wheat etc
 
 

I understand this and I think many think the same as you, it evens itself out eventually but imagine paying £500 a sovereign. I’m sweating just at the thought.
I remeber not so many years ago (2017/2018) ish seeing the price of a sovereign just go past £200 and thinking, “I’m not paying that, a sovereign was £185 last month”.
I can laugh about it now, through gritted teeth. 😬

Buying monthly regardless of price has found me in a good place so far. 🙏🙏

It’s the Whales manipulating the market.  Hodl and 💎🙌
🚀
Doh - wrong thread! Sorry 😆😜

To the moon 🚀
When Lambo? 
 Oh - sorry wrong forum 😆😜

To the moon 🚀
When Lambo? 
 Oh - sorry wrong forum 😆😜

To the moon 🚀
When Lambo? 
 Oh - sorry wrong forum 😆😜

Uncertaintity is what we have to look forward to imo.  Increasing interest rates, high prices for oil and gas, instability across the world, shortages to continue for some time and the effect of Russia stopping exports of goods we all rely on will only see the gold price remain high for some time to come.  Just my opinion.

Selling privately, you'll normally always be able to get an extra £10-£20 per 2022 sovereign in years to come once they are not  easily available, due to the variant design, as it should follow the 2002 2005 2012 more than likely

As much as I'd love to be able to buy sovereigns as cheap as I did all those years ago, the days of $320 gold isn't ever coming back (unless there's a currency reset/revaluation).
I expect by the end of the next decade sovereigns will be £500 a piece, and yes people will still be buying them. £380 will look like a bargain.