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Advice on First Sovereign Purchase


muneeb

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Hi,

Hope everyone is well. I am looking to purchase my first sovereign coin🤞. Prefer for the coin to appreciate. My budget is around £330 max. Not sure if I need to increase my budget or will I be able to find a good sovereign within this price range?

Any suggestions on what to buy for a first time buyer?
Please mention your first purchase too, I’d be interested to know!

 

Regards

Muneeb

 

 

Edited by muneeb
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With the gold content of a sovereign being 7.3224g, and spot currently at £40.62 at time of writing (total £297.44), you would will be very unlikely to get a sovereign for £250. Try tracking the cost of gold here (or similar) https://www.gold.co.uk/gold-price/week/ounces/GBP/ and identify where you can buy for a decent premium over spot.

Saying that, if you do find sovereigns for £250 let me know! 😀

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7 minutes ago, trp said:

This is almost £50.00 under spot. £315.00 may be slightly more reasonable. 

Thank you for that, all new to this. So don’t know nothing regarding costs or anyhting.

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10 minutes ago, Murkt said:

With the gold content of a sovereign being 7.3224g, and spot currently at £40.62 at time of writing (total £297.44), you would will be very unlikely to get a sovereign for £250. Try tracking the cost of gold here (or similar) https://www.gold.co.uk/gold-price/week/ounces/GBP/ and identify where you can buy for a decent premium over spot.

Saying that, if you do find sovereigns for £250 let me know! 😀

Thank you for that, have edited the budget to £330. 

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2 minutes ago, Liam84 said:

Unless OP meant half Sovereign? You can get bullion half sovs from £160ish, £250 would bag a proof/low mintage/vintage collectible example. Keep your eye on the trade section, plenty on there.

Yes, I mean full and half. Anything good as a first time purchase. Thank you for that:)

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Most dealers have an option to purchase "best value" or "random date" gold sovs on their websites. These are typically the lowest premium.

They are just bullion coins sold for their gold content and unlikely to be a special collectible rare date (although I guess you never know) many people in here will happily stack bullion sovs all day. One thing to note is some dealers have another section where they might sell 'low grade' sovs which might have been mounted or damaged significantly, they might be a tiny bit cheaper still but I'd personally not buy these. 

Equally if you want a nice modern shiny one best bet would be to buy a 2021. 

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2 hours ago, muneeb said:

Hi,

Hope everyone is well. I am looking to purchase my first sovereign coin🤞. Prefer for the coin to appreciate. My budget is around £330 max. Not sure if I need to increase my budget or will I be able to find a good sovereign within this price range?

Any suggestions on what to buy for a first time buyer?
Please mention your first purchase too, I’d be interested to know!

 

Regards

Muneeb

 

 

Contact @SVcollector, he has tons and for reasonable prices. 

I would go for a bullion coin first. Just to see if you like the coin. Mind you: It is much smaller than what you expect it to be. 

My first sovereign was a 1872 bullion. A common one with 13.486.708 minted. But i paid just 3% above spot at time of purchase. 

Edited by Jvw
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My suggestion would be to join the forum as a member in order to:

- Access the bullion comparison tracking page - tracks the cheapest coins by type by dealer

- Access sales by members section. Some of the best Sovereign deals available anywhere but are offered on the forum but they sell quickly.

Get some trading feedback - lifeblood of being able to do deals on the forum.

Best

Dicker

 

Not my circus, not my monkeys

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On 11/08/2021 at 21:42, modofantasma said:

Most dealers have an option to purchase "best value" or "random date" gold sovs on their websites. These are typically the lowest premium.

They are just bullion coins sold for their gold content and unlikely to be a special collectible rare date (although I guess you never know) many people in here will happily stack bullion sovs all day. One thing to note is some dealers have another section where they might sell 'low grade' sovs which might have been mounted or damaged significantly, they might be a tiny bit cheaper still but I'd personally not buy these. 

Equally if you want a nice modern shiny one best bet would be to buy a 2021. 

Hi there,

 

Thank you so much for your help and guidance!  I’ve seen the best value ones but I don’t want a random sovereign. 
 

Do you see potential in the 2021 Sovereign increasing over time? 

regards

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23 hours ago, dicker said:

My suggestion would be to join the forum as a member in order to:

- Access the bullion comparison tracking page - tracks the cheapest coins by type by dealer

- Access sales by members section. Some of the best Sovereign deals available anywhere but are offered on the forum but they sell quickly.

Get some trading feedback - lifeblood of being able to do deals on the forum.

Best

Dicker

 

Hi there,

 

Will definitely take your advice on board. Looking to get the membership, Thank you. 
 

Regards

Muneeb

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23 hours ago, dicker said:

My suggestion would be to join the forum as a member in order to:

- Access the bullion comparison tracking page - tracks the cheapest coins by type by dealer

- Access sales by members section. Some of the best Sovereign deals available anywhere but are offered on the forum but they sell quickly.

Get some trading feedback - lifeblood of being able to do deals on the forum.

Best

Dicker

 

Hi there,

 

Will definitely take your advice on board. Looking to get the membership, Thank you. 
 

Regards

Muneeb

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7 minutes ago, muneeb said:

 

Thank you so much for your help and guidance!  I’ve seen the best value ones but I don’t want a random sovereign. 
 

Do you see potential in the 2021 Sovereign increasing over time? 

 

I don't think 2021 sovs are a special date. To me it's a bullion coin if you want a 2021 or one that is 'new' to you then choose 2021 sov. Most dealers have this on their website too, it typically doesn't cost much more than a random year sov maybe a couple of £ .

 

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On 11/08/2021 at 23:06, Jvw said:

Contact @SVcollector, he has tons and for reasonable prices. 

I would go for a bullion coin first. Just to see if you like the coin. Mind you: It is much smaller than what you expect it to be. 

My first sovereign was a 1872 bullion. A common one with 13.486.708 minted. But i paid just 3% above spot at time of purchase. 

Hi there,

I will message him, thank you for that. 
 

I have the The Queen's Beasts 2021 Gold 1oz at the moment and 2x of these in 2 oz silver.
 

A good sovereign you have , they hold

up a good price.

 

Kind Regards

Muneeb

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4 minutes ago, modofantasma said:

I don't think 2021 sovs are a special date. To me it's a bullion coin if you want a 2021 or one that is 'new' to you then choose 2021 sov. Most dealers have this on their website too, it typically doesn't cost much more than a random year sov maybe a couple of £ .

 

Yes, I’ve come across a lot of these but I’m trying to find something that goes back many years. 
 

thank you for your advice and help btw, I do appreciate it:)

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Maybe best going into a physical bullion dealers then you can look at a couple and choose the one you want that's old enough and in a condition you're happy with at the right price. If buying online some have condition notes if you're buying a specific year sov. 

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8 minutes ago, modofantasma said:

Maybe best going into a physical bullion dealers then you can look at a couple and choose the one you want that's old enough and in a condition you're happy with at the right price. If buying online some have condition notes if you're buying a specific year sov. 

Thank you for that, I will do that. I’ve been looking online but some people are really over pricing them to the point where no one even bids. But fingers crossed I find one.

Edited by muneeb
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My suggestion. Have a look at the Coins of the Realm and Coin Cabinet past auctions and see what has been on offer before within your budget, and what takes your fancy.

Suggest that you will pick up a George V pre WW1 or even a Victoria Old Head for £330 either on here or in one of their next auctions. Much more interesting than the modern sovereigns. 

Edited by Richym99
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17 minutes ago, Richym99 said:

My suggestion. Have a look at the Coins of the Realm and Coin Cabinet past auctions and see what has been on offer before within your budget, and what takes your fancy.

Suggest that you will pick up a George V pre WW1 or even a Victoria Old Head for £330 either on here or in one of their next auctions. Much more interesting than the modern sovereigns. 

Yes, I want a sovereign from the 60-90’s as it is more interesting to have and to add to a collection. 
 

I will have a look at the past auctions. Thank you for that.

Regards

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8 minutes ago, Bigmarc said:

I received 2 sovs today from bbp. I paid for best value and got 2021 coins on both purchases. Both delivered next day.

Are you happy with them or wanted something else?

also how much did the best value cost? if you don’t mind me asking.

Regards

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Personally I prefer best value, I like things that have been around for years, but ultimately it's just bullion. It's metal and try not to get emotionally attached. I paid £315, which is a little more expensive but for reason's we are not allowed to speak about (Voldemort). I have purchased 8 through best value method and three have been sent through with this year's date.

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