Old sovereign vs new uncirculated sovereign when stacking?

[VinylRush]

Hi.

I'm new around here and this is my first post.  I'd like to say hello to everyone!  I've have a question about new and old sovereigns.

I've recently been purchasing a little bit of gold and silver.  I've been buying from the big established players on the internet like the Royal Mint and some other well-known online dealers.  I've been buying new uncirculated coins. 

I'm now interested in buying a couple of gold sovereigns.  My first instinct was to go on the Royal Mint website and buy a few but I have a local dealer who sells early 20th sovereigns for much much cheaper.  The current price for a sovereign on the RM is around £430 and my local dealer is selling these older sovereigns for £365.  That is a big difference!  Is that even below spot?  Does spot rate come into play on older coins?

At first I thought the price difference is because these older sovereigns are not .999 pure like the newer ones but I don't think that is the reason.  I'm not into numismatist collecting.  I just want to buy at the best price and stack them to sell at a later date.

I'm really confused at the price difference and which one I should buy.

Thanks.

[Gordon]

The royal mint are over priced and i would go for the cheaper priced coins as when you sell them you will get the same price for both coins and with the older sovereigns there maybe a chance of picking up a sovereign that is a bit more collectable and older sovereigns are just nicer coins 

[Gordy]

there were 34 sovereigns put on here yesterday but you might not be able to see them yet as you're not a premuim member, non-members see new listings around 3 days after listed

and sovs are 22 carat not 24 (.999) 

Welcome aboard btw

[harrygill111]

Hello and welcome to the forum. 

Buying here on the forum will tend to be cheaper, otherwise dealers like Chards are well priced, and show price comparisons to main dealers. 

In terms of what to pick up, that's personal preference I guess. I have a mish-mash of old, new, rare, common, circulated and non-circulated. I'm transitioning from stacker/flipper to collector, my long term plan is to pass my gold stack on. For that some order, completeness and quality is needed. Stacking sovereigns at low premiums is a good place to start. 

Good luck! 

 

[modofantasma]

1 hour ago, VinylRush said:

Hi.

I'm new around here and this is my first post.  I'd like to say hello to everyone!  I've have a question about new and old sovereigns.

I'm now interested in buying a couple of gold sovereigns.  My first instinct was to go on the Royal Mint website and buy a few but I have a local dealer who sells early 20th sovereigns for much much cheaper.  The current price for a sovereign on the RM is around £430 and my local dealer is selling these older sovereigns for £365.  That is a big difference!  Is that even below spot?  Does spot rate come into play on older coins?

At first I thought the price difference is because these older sovereigns are not .999 pure like the newer ones but I 

Welcome to the forum. 

I've not yet bought from RM directly as their prices always have been higher when I've looked. 

A local dealer you mention might have lower overheads and be able to work on a tighter spread than some of the bigger outfits or may be pricing more competitively for other reasons. 

None of your sovereigns should be 999 fineness BTW, they are all 22 carat 916.7 fineness. 

You'll usually find sovs with dealers to be priced 3 to 5% over spot for standard bullion ones. Any key dates or lower mintages etc might stray from this. 

They do come up here on the forum too, as with any seller just checkout their reputation and feedback first 

[dicker]

Welcome aboard!

My suggestion is to buy pre-decimal QEII Sovereigns (known as Gillicks).

They are not the horrible Copper colour as with Sovs minted post 2000, and they have a very good strike and are obtainable at not too much above spot!

[RDHC]

There is also a collection of older sovereigns for sale at reasonable prices that will be accessible to you without being a premium member because put on the buy and sell section some time ago by CatStudent (just search the name) and not all were sold when I last looked.

[VinylRush]

Thanks you for all your advice.

How long does it take to access the classifieds section?

Regards.

 

edit - just seen it 3 days.

Edited March 10, 2022 by VinylRush

[RDHC]

17 minutes ago, VinylRush said:

Thanks you for all your advice.

How long does it take to access the classifieds section?

Regards.

 

edit - just seen it 3 days.

Isn't that for the new adverts? Try accessing 'Buy and sell' immediately. I would hope the posts there older than 3 days would be accessible to you now.

[Booky586]

Hello and welcome to TSF.

If I was starting over again I'd aim for the lowest premium with best quality as you can. I'd also try and get a variety of different heads early on just to get used to the feel and look of them. May be a George V (1911-1915), Elizabeth II Gillick head and a newish Elizabeth II. See which ones you like, they're all a little different, and follow your preference.

Chards have some good advise for new stackers/collectors here, definitely worth a read:

https://www.chards.co.uk/blog/buying-advice-and-information

[LawrenceChard]

7 hours ago, VinylRush said:

Hi.

I'm new around here and this is my first post.  I'd like to say hello to everyone!  I've have a question about new and old sovereigns.

I've recently been purchasing a little bit of gold and silver.  I've been buying from the big established players on the internet like the Royal Mint and some other well-known online dealers.  I've been buying new uncirculated coins. 

I'm now interested in buying a couple of gold sovereigns.  My first instinct was to go on the Royal Mint website and buy a few but I have a local dealer who sells early 20th sovereigns for much much cheaper.  The current price for a sovereign on the RM is around £430 and my local dealer is selling these older sovereigns for £365.  That is a big difference!  Is that even below spot?  Does spot rate come into play on older coins?

At first I thought the price difference is because these older sovereigns are not .999 pure like the newer ones but I don't think that is the reason.  I'm not into numismatist collecting.  I just want to buy at the best price and stack them to sell at a later date.

I'm really confused at the price difference and which one I should buy.

Thanks.

Welcome.

I happened to be checking some incoming QE2 sovereigns today, and noticed they were all 78s...

but none of them were vinyl...

... so no rush!

😎

[GoldDiggerDave]

Royal mint “historic” sovereigns are over priced and under graded.  
 

https://www.chards.co.uk/elizabeth-ii-first-portrait-mint-bullion-sovereign/10411
 

these are a gem to collect from chards, 

 

[TommyTwoShots]

13 minutes ago, GoldDiggerDave said:

Royal mint “historic” sovereigns are over priced and under graded.  
 

https://www.chards.co.uk/elizabeth-ii-first-portrait-mint-bullion-sovereign/10411
 

these are a gem to collect from chards, 

 

https://www.hattongardenmetals.com/buy/gold-sovereign-elizabeth-pre-decimal
 

cheaper here

Edit: I just bought a few so only 1 left

Edited March 10, 2022 by TommyTwoShots

[harrygill111]

Wait a bit prices are high at the moment 

[harrygill111]

Used to love it when prices shot up and the stack grew in value, but now find my self wishing prices come down so I can get some more! 

It's an addiction! 

[Happypanda88]

Sovereigns are 22ct or 916 fine gold as mentioned by others.  If you're interested in 999 fine gold, then there is the option of 1/4 ounce Britannia but they are slightly more expensive due to higher gold content.  The pure gold content of a sovereign is 7.32g verses 7.75g for a 1/4 ounce Britannia.

I would personally buy sovereigns with the lowest premium and at best quality. Once you have acquired a few sovereigns of different types (monarchs), then you should be able to decide on your personal preference.

Welcome to the forum BTW.

[MJCOIN]

Personally I prefer to collect new sovereigns.  Buying them from a trusted source gives me confidence they are not fakes and I'm a bit OCD about condition - prefer them to be unscratched etc.

I can certainly see the appeal of older sovereigns though.

[dicker]

The overall message is that you have a great deal of choice!

If you are buying bullion, there really is no right or wrong - just your own preference.

Enjoy chasing and owning.

Best

Dicker

[GoldDiggerDave]

11 hours ago, harrygill111 said:

Wait a bit prices are high at the moment 

Might look the bargain of the century in 18 months. 

[harrygill111]

... or they might look like the highest price's in history

[TommyTwoShots]

3 minutes ago, harrygill111 said:

... or they might look like the highest price's in history

Maybe but most people stack for 20 years time. Gold will only ever go up

[Britannia47]

On 10/03/2022 at 21:43, harrygill111 said:

Used to love it when prices shot up and the stack grew in value, but now find my self wishing prices come down so I can get some more! 

It's an addiction! 

Be careful though! Last year many TSF members were suffering from a new variant called RM Covid22, whereby the main symptom was to wait nervously on their phones or computers (In a queue!) to buy whatever the RM was selling, with money being no object. Don’t let it happen to you…..😿

Edited March 14, 2022 by Britannia47
Bad grammar!

[harrygill111]

34 minutes ago, TommyTwoShots said:

Maybe but most people stack for 20 years time. Gold will only ever go up

Yep, I hear you. Feel the same about houses. 

In my wisdom I thought it'd be smart to go big early and drip feed the stack. I remember a hefty purchase we made after getting married in 2012 and the 3-4 years of kicking myself. Means nothing now of course, but the journey wasn't great. Made me question what the metal in the safe was doing vs the houses we purchased around the same time. 

But, yes the crystal ball tends to say up up up and that tends to be true if you're in it for the long haul/hand down. 

Id have a lot more physical metal if I waited a bit, but the process gave me balls of steel which isnt a PM but counts 😆 

Edited March 11, 2022 by harrygill111

[scotwasp]

12 hours ago, MJCOIN said:

Personally I prefer to collect new sovereigns.  Buying them from a trusted source gives me confidence they are not fakes and I'm a bit OCD about condition - prefer them to be unscratched etc.

I can certainly see the appeal of older sovereigns though.

I am with @MJCOINhere, but with the caveat that there are some sellers with enough track record and reputation that I would buy old gold from them. You also get a better price on the forum. Also older coins are in some way more interesting- kind of like old furniture—- they have character. 

[SidS]

On 10/03/2022 at 17:09, LawrenceChard said:

Welcome.

I happened to be checking some incoming QE2 sovereigns today, and noticed they were all 78s...

but none of them were vinyl...

... so no rush!

😎

78s weren't vinyl either were they? Shellac I believe... Before my time though!

😁