victoria sovereign weight

[n1k0s]

Hello everyone, 

I came across a Victoria 1875 S back-shield sovereign in a local shop.

The coin was in a good condition and looks approximately like the one of the image below (i do not have a photo of the one I am referring to, but this one from internet is roughly the same). 

I weighted the coin at the shop and I found it a bit underweight. It was 7.962 grams instead of the "official" 7.98 grams. 

The shop asked for 440 euro for it, which, in terms of premium, corresponds to about 6% at today's value. 

My question is: is this weight acceptable and is the premium fairly priced? 

Thanks a lot in advance, 

n-s

[Becca]

If you had been around since 1875 a little of the weight would of worn off you as well I would of thought. I don't think I would be too concerned with the numbers you have quoted.

As for the price I am sure someone more knowledgeable than myself can help you with that

B

[JamesH]

For me, buying in Sterling, that equates to £391 which I’d say is terrific value for a shield sovereign 👍🏼

[Silverlocks]

1 hour ago, n1k0s said:

Hello everyone, 

I came across a Victoria 1875 S back-shield sovereign in a local shop.

The coin was in a good condition and looks approximately like the one of the image below (i do not have a photo of the one I am referring to, but this one from internet is roughly the same). 

I weighted the coin at the shop and I found it a bit underweight. It was 7.962 grams instead of the "official" 7.98 grams. 

The shop asked for 440 euro for it, which, in terms of premium, corresponds to about 6% at today's value. 

My question is: is this weight acceptable and is the premium fairly priced? 

Thanks a lot in advance, 

n-s

The official spec for the sov has it still within tolerance down to about 7.94g before it's considered underweight.

https://www.legislation.gov.uk/ukpga/1971/24/schedule/1

Edit: Just realised this is not a picture of the coin you're buying.

440 euros is not a bad price for a shield; beyond that I can't comment without seeing the actual coin.

 

Edited February 15, 2023 by Silverlocks

[Orpster]

I have numerous young heads that weigh less than that

To put it into perspective that's still 99.37% of the original weight.  If its above 7.9g its good enough for me

[n1k0s]

Thanks everyone.

Silverlocks: in the link you quote from the Coinage Act: 

https://www.legislation.gov.uk/ukpga/1971/24/schedule/1

I read that the "least current weight" should be 7.9378 grams but in the column next to it I read that the "remedy allowance" should be 0.01296 grams, which presumably means a tolerance of 7.98805 - 0.01296 = 7.97509. 

So i have two conflicting minimal weights: 7.9378 and 7.97509. 

What is the correct interpretation of these numbers then? 

Does anyone know? 

thanks !

[Petra]

1 hour ago, n1k0s said:

Thanks everyone.

Silverlocks: in the link you quote from the Coinage Act: 

https://www.legislation.gov.uk/ukpga/1971/24/schedule/1

I read that the "least current weight" should be 7.9378 grams but in the column next to it I read that the "remedy allowance" should be 0.01296 grams, which presumably means a tolerance of 7.98805 - 0.01296 = 7.97509. 

So i have two conflicting minimal weights: 7.9378 and 7.97509. 

What is the correct interpretation of these numbers then? 

Does anyone know? 

thanks !

Coins have a specific weight and fineness specified, but when being made the coins have a remedy, which means there can be a variation from the standard weight and fineness that has been specified, but this can not be more than the ‘remedy’ figures specified.

[Pete]

At current gold prices you got a good deal and the weight is fine for a coin of this age.

[Britannia47]

22 hours ago, n1k0s said:

Thanks everyone.

Silverlocks: in the link you quote from the Coinage Act: 

https://www.legislation.gov.uk/ukpga/1971/24/schedule/1

I read that the "least current weight" should be 7.9378 grams but in the column next to it I read that the "remedy allowance" should be 0.01296 grams, which presumably means a tolerance of 7.98805 - 0.01296 = 7.97509. 

So i have two conflicting minimal weights: 7.9378 and 7.97509. 

What is the correct interpretation of these numbers then? 

Does anyone know? 

thanks !

Your basic 2 questions seem to have been answered by others, but did you actually buy this coin, or have doubts? Was your ‘local shop’ a jewellers by any chance? If you have bought it, look carefully to see see if it’s been previously mounted. If it is of similar condition to the 1875 photo then it could be worth around £ 600. How about a photo?……

[n1k0s]

Hello Britannia47, I have not bought this coin as I was doubting about its underweight. I have now called back to the shop and asked and they replied that they don't have it anymore. 

The lesson learned here is to be ready to take decisions much faster next time. 

I regret that I did not buy it. 

[Britannia47]

48 minutes ago, n1k0s said:

Hello Britannia47, I have not bought this coin as I was doubting about its underweight. I have now called back to the shop and asked and they replied that they don't have it anymore. 

The lesson learned here is to be ready to take decisions much faster next time. 

I regret that I did not buy it. 

Well good-luck next time. You allowed yourself to be influenced by the difference in weight which was not an issue. It’s normal for a sovereign to lose weight in circulation! - but you were right to be cautious if you didn’t understand that aspect….

[Silverlocks]

On 15/02/2023 at 20:43, n1k0s said:

Thanks everyone.

Silverlocks: in the link you quote from the Coinage Act: 

https://www.legislation.gov.uk/ukpga/1971/24/schedule/1

I read that the "least current weight" should be 7.9378 grams but in the column next to it I read that the "remedy allowance" should be 0.01296 grams, which presumably means a tolerance of 7.98805 - 0.01296 = 7.97509. 

So i have two conflicting minimal weights: 7.9378 and 7.97509. 

What is the correct interpretation of these numbers then? 

Does anyone know? 

thanks !

As I understand the least current weight is the weight at which banks take it out of circulation and hand it back to the Bank of England, which would replace it.  Old, underweight coins would be recycled, normally by sending them back to the Royal Mint to be melted down and incorporated into stock for new sovereigns.

The remedy allowance is a tolerance allowed in manufacturing the coin, although the act (or anything else readily accessible via google) doesn't specify under what circumstances the remedy might apply.

Edited February 19, 2023 by Silverlocks