Proof Premium Ponderings

[DrDave]

So, talking specifically about sovereigns, what premium does a proof typically attract for a common year? And is a set equal to the sum of its parts ie full sov + half sov (quarter etc)

[James32]

My money is on but not limited to, one of the following knowing  😆 

@matt1r @richatthecroft @GoldDiggerDave @Orpster @shawy2510 

[GoldDiggerDave]

No it’s not equal, and it depends on numerous factors.

take the 1979 proof sovereign it had a mintage of 50,000 so should be very common ie lower prices how ever try and get a PF70UC. NGC, PCGS population reports have a factor and a this is just one instance.

a proof double sovereign is likely not to be double the value of the same full sovereign,  half sovereigns are becoming more popular as they are in most peoples price ranges so will carry a little more premium, proof 1/4  can also follow the same sort of trend.  However the £5 2022 proof sovereigns are trading 5x the rate of a full, and I still feel there is more margin to be had. 
 

There’s no absolute answer for this question but would love to see others peoples point of view. 

 

[DrDave]

2 minutes ago, GoldDiggerDave said:

No it’s not equal, and it depends on numerous factors.

take the 1979 proof sovereign it had a mintage of 50,000 so should be very common ie lower prices how ever try and get a PF70UC. NGC, PCGS population reports have a factor and a this is just one instance.

a proof double sovereign is likely not to be double the value of the same full sovereign,  half sovereigns are becoming more popular as they are in most peoples price ranges so will carry a little more premium, proof 1/4  can also follow the same sort of trend.  However the £5 2022 proof sovereigns are trading 5x the rate of a full, and I still feel there is more margin to be had. 
 

There’s no absolute answer for this question but would love to see others peoples point of view. 

 

The main point of my question is how much premium a proof coin would command. So for instance if a full bullion sovereign is spot + 5%, is a proof typically spot +15% or something?

And would the same premium apply similarly to halfs etc? 

Hope that makes sense?

[TeaTime]

All i can say is i often see common year proof sovereigns being offered (privately) at a tad over bullion prices. Certainly at way below the cost of new. 

Maybe it's because the RM think charging an extra £200 for a proof sovereign is ok. Yet the extra cost for a one ounce silver proof coin is around a quarter of that. People tend to not be as gullible (at least after-market) as the RM think.

Equally with sets - the majority of buyers are looking at the value of the metal rather than having different sizes of the same coin...

As with any modern proof coins, some will command a hefty premium but most will not.

[Orpster]

1 hour ago, James32 said:

My money is on but not limited to, one of the following knowing  😆 

@matt1r @richatthecroft @GoldDiggerDave @Orpster @shawy2510 

Dave already exhausted my limited knowledge on proof sovereigns via PM

I am reasonable on raw proofs, graded not so much but I spend enough time on this and other forums to know when something is way off.  Easy to rattle off the price of the special reverse years, graded or raw, the rest 🤷‍♂️

Even when I am certain I know the price of anything unusual I always check and double check, eBay, auction results, sales posts etc.  Would love to say I have never overpaid but I have, and knowingly on occasion.  I am a stubborn fella though and will keep something tucked away for years rather than lose money, though happy to just wipe my face on some stuff if I want money for something.  I will post below what I said to Dave in PM so my betters can correct anything stupid I said:

'Rule of thumb for 3 coin proof sets is £1200-£1400 for none special years, assuming its a Double/Full/Half.  Some of the more modern sets though are Full/Half/Quarter and should be around £600-£800.

There are numerous years more sought after hence the price differential, all the special years (2002/2005/2012/2016(Butler Portrait) & 2022) and any low mintage years, 80's and 90's generally.  These are a rule unto themselves and an 89 set for example is in the thousands, the 5 coin set is currently going around £11k.  The 2005 & 2012 are (slowly) moving in that direction as well and worth picking up, and I think the 2002 is a sleeper, an unpopular design as special years go but so was the 89 for years.  I am picking up as many 2002 proofs I can get my hands on, especially half sovereigns.  I have 3 PF70UC versions now (while I don't generally bother with graded these were the right price) and a raw that I expect would grade very well.  Currently trying to find a double 2005 but not having a lot of luck.'

[GoldDiggerDave]

17 minutes ago, DrDave said:

The main point of my question is how much premium a proof coin would command. So for instance if a full bullion sovereign is spot + 5%, is a proof typically spot +15% or something?

And would the same premium apply similarly to halfs etc? 

Hope that makes sense?

There's  too many variables to give a one size fits all solution, quality of the proof coin over the bullion price, if it has the slightest  issue I would not offer much more than bullion if any. 

The date/ monarch plays a part even for common years the same premium will not apply the to a 1/2 in many cases.

Possibly pick out some sovereigns on a dealer web page Chards, BBP etc and build a small spreadsheet. 

[GoldDiggerDave]

Also some standard year proof sovereigns as of last week are going for crazy money, so timing and external events like the sad passing of QEII have an effect. 

[LawrenceChard]

4 hours ago, DrDave said:

Proof Premium Ponderings

So, talking specifically about sovereigns, what premium does a proof typically attract for a common year? And is a set equal to the sum of its parts ie full sov + half sov (quarter etc)

There is nothing formulaic about the relationship, as some others have indicated.

It sounds like you mean proof premium over non-proof, but for some date and mint combinations, a non-proof commands a premium over a proof, 1923-SA for example:

This old page may help to explain why:

https://goldsovereigns.co.uk/1923sovereign.html

😎