UK grade C sovereign coins are they worth it

[Adam2023]

Hi all 

I just wanted to ask to see if Grade C sovereigns were worth investing in. As premiums or lower?

My thinking was when we go to trade items in. They give you spot price, but I presume they will do the same as well for a grade C sovereign.

The ones that I had in mind were from the below website.

I appreciate everyone's feedback and contribution In advance.

Please see the link below.

https://www.chards.co.uk/gold-sovereign-secondary-market-grade-c/3351

[Captinjack]

From my point of view,and that is a very amatuer one 🤣 if I had the choice I would not buy a sub standard coin just to save £10,if I was to sell on this forum for instance,a coin like that will always be harder to move on if needed,if the next coin down is in better condition,if they didn't add post extra then the saving may be a little better,on the flip side,the coin you get may very well be ok compared to what another dealer may send randomly,I wish we had more " coin shops" here like the Americans do,so we could shop in person so to speak.

[SidS]

In my opinion no.

I once bought a category C 1902 half sovereign. I knew I was taking a risk buying such a coin with regards to condition. I can overlook most defects, scratches, edge knocks, slightly bent or damaged flans, even ex-mounts. But it arrived and it was polished like a shiny button. My own fault, a risk I knew. Cleaned and polished coins are just hideous. So it went straight on eBay and after fees etc. I broke even on it. So no money lost, but I'd never buy such a lottery picked coin again.

 

[ZRPMs]

From a collectors perspective they are probably not the grade they'd be interested in. For those interested in just the gold content they are probably seen as an acceptable way of getting low premium gold. Totally agree that for the majority of the market, most would choose the better condition coin but, C grade coins still have their place.

For me, I have had 2 aims in building my collection. 

Firstly I wanted to have a certain amount of gold. For this purpose I've not been too fussy on the condition, as long as its not too bad, ie:- holed, bent, or worn so much the detail has all but gone. I think as a rule these are just sent to the melt pot, unless from a private seller.

Secondly I've been building a collection of mint and date runs of sovereigns. For this collection I've tried to get some slightly better condition coins but I've used what would be classed as C grade as date fillers until a better coin has come along. This has helped bridge the two aims and hopefully kept the cost and premiums down of the overall collection.

As with any thing really, choose what your goals are, and make your decision on their suitability for your needs from that. 

 

[dicker]

So in the most part no, I wouldn’t suggest buying this type of coin - especially unseen.  

I would however accept a low grade of Sovereign where I simply cannot locate a good example.  Marsh R3 or higher typically.  

[WizardOfSov]

Good way for dealers to get more than melt price for coins that really should be melted.

[pricha]

Most of us have limited funds. I don't see any point wasting money on coins in awful condition.  For an extra £50/£100 why not have something really nice that'll give you much more pleasure ? If you're collecting purely for weight then bars would be the best bet I think. 

[Adam2023]

I Really appreciate the feedback so grade c sovereign i my mind the value is based on the spot price of gold.

So even if were to trade in a grade B would i not get the same price?

[Adam2023]

17 hours ago, pricha said:

Most of us have limited funds. I don't see any point wasting money on coins in awful condition.  For an extra £50/£100 why not have something really nice that'll give you much more pleasure ? If you're collecting purely for weight then bars would be the best bet I think. 

On chard bars seem to attract a higher premium 

[pricha]

Generally bars carry less premium than coins although there are other things to consider such as tax.

You could always buy c grade sovereigns and take a chance selling them on eBay when they have sellers discount offer. 

A horribly polished coin could sell very well  on eBay as there seems no logic on that site.  Would it be immoral? Probably , but as long as you state condition as photo you should be ok. The very least you shouldn't lose money.  A " vaseline " photo would be enough , get a bidding war going and you could make a profit. 

Edited May 14, 2023 by pricha

[SidS]

I sold my polished 1902 cull half and stated it as polished. It sold.

[CazLikesCoins]

It might only be bullion but its no fun staring at a load of old grade C mingers.

Best knowing what you're buying before you commit otherwise you might get a 30 year old chest hair bonded to the reverse through years of sweat and being swung around a dance floor on someones chest wig while doing his John Travolta.

Edited May 15, 2023 by CazLikesCoins

[Silverlocks]

11 minutes ago, CazLikesCoins said:

It might only be bullion but its no fun staring at a load of old grade C mingers.

Best knowing what you're buying before you commit otherwise you might get a 30 year old chest hair bonded to the reverse through years of sweat and being swung around a dance floor on someones chest wig while doing his John Travolta.

Is that the voice of experience?

[CazLikesCoins]

16 minutes ago, Silverlocks said:

Is that the voice of experience?

It's the voice of an overactive imagination and too many 'e's from half a tub of Pringles. 🤪

Although growing up in the 70's the parents used to leave me outside of pubs and the other kids would collect the coins from the pissheads when they lost them stumbling around. All sorts were stuck to them. Thinking back basic coin hygiene was non existent in the '70s so I'm a bit phobic about manky coins these-a-days. 

Edited May 15, 2023 by CazLikesCoins

[dicker]

4 hours ago, CazLikesCoins said:

It might only be bullion but its no fun staring at a load of old grade C mingers.

Best knowing what you're buying before you commit otherwise you might get a 30 year old chest hair bonded to the reverse through years of sweat and being swung around a dance floor on someones chest wig while doing his John Travolta.

Beautiful put.  I agree. 

[Silverlocks]

After getting some duds - obviously polished, for example - from respected, well-regarded members, I make it a standing policy not to buy sovereigns sight unseen any more, and to insist on at least a good-faith attempt at furnishing a decent photo.  If I can get decent photos with a smart phone and about £100 or £150 worth of bits and bobs, I don't think there's a lot of excuse for some of the vaseline jobs I see in the wild.

Edited May 15, 2023 by Silverlocks

[ant1882]

It's not much of an extra price to pay for a much nicer coin. On the Chards page you linked to they don't recommend them unless being used for jewellery...

https://www.chards.co.uk/gold-sovereign-secondary-market-grade-c/3351

"We do not recommend these coins as an investment item as they have defects like deep scratches, mount marks, or polishing marks.

We do have some customers who use the 'grade C' sovereigns for jewellery or other purposes."

IMO not worth bothering with.

[CazLikesCoins]

10 minutes ago, Silverlocks said:

After getting some duds - obviously polished, for example - from respected, well-regarded members, I make it a standing policy not to buy sovereigns sight unseen any more, and to insist on at least a good-faith attempt at furnishing a decent photo.  If I can get decent photos with a smart phone and about £100 or £150 worth of bits and bobs, I don't think there's a lot of excuse for some of the vaseline jobs I see in the wild.

I think some of the photos on eBy and the like are deliberately witless to confuse innocent punters into thinking the wares are better condition than reality. Bit like fat girl angle shots where the face looks thin and what's left off screen is akin to two beached whales glued together. 

You could always request webcam and live soverign poses in varying lighting to judge the polish factor. Bit like the cheapo jewellery tv channels where hosts hold things up trying to keep a straight face while selling rubbish. 

 

[Silverlocks]

1 hour ago, CazLikesCoins said:

I think some of the photos on eBy and the like are deliberately witless to confuse innocent punters into thinking the wares are better condition than reality. Bit like fat girl angle shots where the face looks thin and what's left off screen is akin to two beached whales glued together. 

You could always request webcam and live soverign poses in varying lighting to judge the polish factor. Bit like the cheapo jewellery tv channels where hosts hold things up trying to keep a straight face while selling rubbish. 

One does sometimes wonder.  I think, if anything, decent photos might be a liability in flogging older coins.

[pricha]

21 hours ago, Silverlocks said:

One does sometimes wonder.  I think, if anything, decent photos might be a liability in flogging older coins.

I mentioned this before. Superb photos that make a decent coin look dreadful. I only buy what I can see now.  They are too expensive to buy blind. 

[Silverlocks]

1 minute ago, pricha said:

I mentioned this before. Superb photos that make a decent coin look dreadful. I only buy what I can see now.  They are too expensive to buy blind. 

Yes, I think caveat emptor definitely applies when buying sovs.