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Goldtion

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Just now, Goldtion said:

I am really really surprised at the size and also the colour. 

Find it peculiar how lots of people say that. 
Surprised at the size as in you thought it would be larger?

(Just asking out of interest, can’t really remember what I thought the first time I saw one)

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5 minutes ago, Goldtion said:

I am really really surprised at the size and also the colour

Welcome to the club but be careful, it can be very addictive buying sovereigns 😃

Modern sovereigns use copper as the secondary alloy metal making them a reddish brown colour.

Older sovereigns can also contain silver giving them a more traditional yellow colour. And the Victorian jubilee sovereigns use a high silver content in the alloy, especially used to celebrate the golden jubilee.

 

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@Shep

i suppose it’s due to being a total beginner, and not having handled gold coins before. Handled gold Jewellery before, and also not being too clued up about weights either . For example when someone says this watch has weight and seems genuine, it comes from experience.

the size, I thought it would be a lot larger for some reason. I could easily mistake it for a 1p coin.

The colour has been covered on other posts, and funnily I showed my mum who said why is it not yellow Gold in colour 😂

Next one I am looking at is a 1 ounce Britannia.

the Indian gold I will get valued and sold ASAP. 

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1 hour ago, Goldtion said:

the size, I thought it would be a lot larger for some reason. I could easily mistake it for a 1p coin.

This is one of the advantages of the sovereign - you could mistake the new sovereigns for new 1p coins. A few in a purse, a few in a pocket - a few in an airport security tray. They go unnoticed. 

Edited by sixgun

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A tyranny relies on propaganda and force. Once the propaganda fails all that's left is force.

COVID-19 is a cover story for the collapsing economy. Green Energy isn't Green and it isn't Renewable.

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Funny. My first experience of collecting (less than two months ago) was being given a 2019 sovereign by my mother. 

It wasn't the size that surprised me, it was how much it was worth. ! I had no idea until that point, of the real value of gold coins. 

I do now, 23 more sovereigns later. It's not only addictive, it's expensive. 😄  

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2 hours ago, Goldtion said:

I am really really surprised at the size and also the colour. 

Its basically the same size as a modern pound coin, don't quote me but I suspect when they introduced the pound coin in 1983 they based it on the sovereign size?

As for the colour, not many of us see .916 or 999.9 gold in everyday life, we mostly see jewelry of 9 or 18ct which is mixed with silver and it diminishes the tone, 9ct looks almost silver compared to it. 

Allgold Coins Est 2002 - Premium Gold Coin Dealer and Specialists :  

www.allgoldcoins.co.uk

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2 hours ago, Goldtion said:

WOW !! 2 months and you already have 23 sovereigns.

Are they all different years ?

Not all. My first purchase was a set of 12 called the 3 Monarchs. (4 Queen Vics, 4 Edward VII and 4 George V with one each from London, Sydney, Melborne and Perth mints).  There were two 1911 coins in there, the earliest an 1895M. I have since picked up another 1911 and a second 1913 as well as two 2019, but the majority are different years. 

I'm collecting to supplement my retirement pot, so duplicate years are less important.        

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5 hours ago, Goldtion said:

@Shep

i suppose it’s due to being a total beginner, and not having handled gold coins before. Handled gold Jewellery before, and also not being too clued up about weights either . For example when someone says this watch has weight and seems genuine, it comes from experience.

the size, I thought it would be a lot larger for some reason. I could easily mistake it for a 1p coin.

The colour has been covered on other posts, and funnily I showed my mum who said why is it not yellow Gold in colour 😂

Next one I am looking at is a 1 ounce Britannia.

the Indian gold I will get valued and sold ASAP. 

Hi and welcome, I'm new here as well since february. You'll see that the 1 once Britannia is quite impressive compared to the sovereign, color and size. 

Since February, I bought 8 sovereign, 1 once britannia, 1 once panda, 2 napoleon, and 2 roosters. It is indeed very addictive hehe. Next, I'm looking for an American buffalo, they look great  but the premium is quite a lot

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1 hour ago, Richym99 said:

Not all. My first purchase was a set of 12 called the 3 Monarchs. (4 Queen Vics, 4 Edward VII and 4 George V with one each from London, Sydney, Melborne and Perth mints).  There were two 1911 coins in there, the earliest an 1895M. I have since picked up another 1911 and a second 1913 as well as two 2019, but the majority are different years. 

I'm collecting to supplement my retirement pot, so duplicate years are less important.        

Sounds great. I’ll look those up to see what they looK like. 
 

re supplementing the retirement pot, will you be selling the coins at that time or only if the need arises ?

Edited by Goldtion
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40 minutes ago, manolitolondres said:

Hi and welcome, I'm new here as well since february. You'll see that the 1 once Britannia is quite impressive compared to the sovereign, color and size. 

Since February, I bought 8 sovereign, 1 once britannia, 1 once panda, 2 napoleon, and 2 roosters. It is indeed very addictive hehe. Next, I'm looking for an American buffalo, they look great  but the premium is quite a lot

Nice , as I mentioned in the post above I’ll look those coins up and seem what they look like .

yes the colour and size of the 1 ounce Britannia is lovely.  I have not felt it in my hands though.

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Just wanting a better understanding if I may 

so the sovereign I purchased for £319, how much is the gold value alone worth in the coin, I see it’s 22crt and had 7.988 grams. How do I work that out ?

and regarding premiums if I was to sell this coin now, not that I want to , will I get £319 back at least or will it be substantially less  ?

 

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16 minutes ago, Goldtion said:

Just wanting a better understanding if I may 

so the sovereign I purchased for £319, how much is the gold value alone worth in the coin, I see it’s 22crt and had 7.988 grams. How do I work that out ?

and regarding premiums if I was to sell this coin now, not that I want to , will I get £319 back at least or will it be substantially less  ?

 

The sovereign is made of 91.67% of pure gold so 91.67*7.988=7.322 g of  pure gold

At the moment if you want to sell back on a supplier website, you'll have less. On this website, you'll get 287£ for example: https://www.bullionbypost.co.uk/sell-to-us/sell-gold-coins/sell-gold-sovereigns/

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1 hour ago, Goldtion said:

Sounds great. I’ll look those up to see what they looK like. 
 

re supplementing the retirement pot, will you be selling the coins at that time or only if the need arises ?

I'm looking at the medium to  long term. I hope to retire in five to six years and hope by that time to have a pot of about £50k. At current "intrinsic" value of about £300, i will need to buy about 167 sovereigns to hit that goal.

But of course, gold price changes constantly, but generally trends upwards. Look back to this day five years ago and the price per oz was £881.37.  To get to the £50,000 goal then, i would have to buy 250 sovereigns, but my initial 24 coin investment, which was worth £4979 would now be worth £7179. I have a choice now, buy less coins and stick with my goal of £50k or stick to buying 167 as quickly as possible and hopefully, end up with a pot worth consideeably more  £50k.

Then I can trade them as and when I need to release cash, again  hopefully dojng so at considerably higher than intrinsic value to collectors etc. and all tax free. After all, that 1900 sovereign will be now 126 years old. The beauty of sovereigns is that they are easier to sell. Outlay for a 1oz gold coin is prohibitive for most casual collectors. Spending a quarter of that on a single coin is more easily justified to the wife. 😄 

 That's just my plan and thinking though. No doubt others will call me crazy.  

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@Richym99 

Thanks for the detailed response.

it sounds like a good plan. Since the pandemic started I thought gold and silver would be priced a lot higher than what they are at present. 

2nd day of coin ownership, and already have the urge to buy another. I’ll wait first and look around to see what is out there ....

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13 hours ago, Goldtion said:

@Richym99 

Thanks for the detailed response.

it sounds like a good plan. Since the pandemic started I thought gold and silver would be priced a lot higher than what they are at present. 

2nd day of coin ownership, and already have the urge to buy another. I’ll wait first and look around to see what is out there ....

As no ones else has…..try the sales section on the Forum. You’ll find sovs for a bit less than £319 and a lot of variety. Enjoy 

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43 minutes ago, evende said:

As no ones else has…..try the sales section on the Forum. You’ll find sovs for a bit less than £319 and a lot of variety. Enjoy 

Totally agree with you. I have bought five in the last week for £310 each. 

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20 hours ago, Goldtion said:

Just wanting a better understanding if I may 

so the sovereign I purchased for £319, how much is the gold value alone worth in the coin, I see it’s 22crt and had 7.988 grams. How do I work that out ?

and regarding premiums if I was to sell this coin now, not that I want to , will I get £319 back at least or will it be substantially less  ?

 

You don't need to work it out, we quote the intrinsic sovereign value here:

https://www.chards.co.uk/gold-price/gold-price-per-ounce

 

Chards

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