Gold weights

[1moreoz]

I was wondering about gold weights. I always thought a oz was 28 grams but in gold it’s 31G right ? Also sovs are 7.9 so basically 8 and 4 of them are considered a oz is all that correct?

looking to buy some more gold next week. Leaning towards more sovs over the 1 oz coins and was just looking up there weights.

Edited October 12, 2023 by 1moreoz

[Sovhead]

10 minutes ago, 1moreoz said:

I was wondering about gold weights. I always thought a oz was 28 grams but in gold it’s 31G right ? Also sovs are 7.9 so basically 8 and 4 of them are considered a oz is all that correct?

looking to buy some more gold next week. Leaning towards more sovs over the 1 oz coins and was just looking up there weights.

When weighing precious metals it’s Troy ounces at 31.1g-1oz

8x half Sovs and 4 full Sovs weigh more than 1 Troy ounce.

Also, for instance 1/4 oz Britannia’s were in 22ct gold and the more modern ones are 24ct that makes a difference.

Edited October 12, 2023 by Sovhead

[James32]

14 minutes ago, 1moreoz said:

I was wondering about gold weights. I always thought a oz was 28 grams but in gold it’s 31G right ? Also sovs are 7.9 so basically 8 and 4 of them are considered a oz is all that correct?

looking to buy some more gold next week. Leaning towards more sovs over the 1 oz coins and was just looking up there weights.

Precious metals are measured in troy oz ( 31.1g )

Sovereigns are 7.98g of 22ct gold, therefore contain 7.32g of pure gold content. 

4 x Sovereigns is not a full oz of pure gold

[SidS]

14 hours ago, James32 said:

4 x Sovereigns is not a full oz of pure gold

I was about to jump in but you beat me to it.

4 sovereigns + 1/2 sovereign will get you past the ounce mark.

When I used to buy sovereigns, I always thought of it as 5 sovereigns for the ounce - easier maths in the head, also the extra more than accounts for wear - and when you came to weight the stack at the end you had a few bonus ounces that you'd accumulated... 😁

28g ounce is the ounce avoirdupois - different ounce to the ounce Troy.

[1moreoz]

I just got in about to buy a bunch of golf and price has shot up a good bit 🥲 will wait it out till next week now. 

[Chronos]

Volkswagen Golf?

[Chrissyblards1]

8 hours ago, 1moreoz said:

I just got in about to buy a bunch of golf and price has shot up a good bit 🥲 will wait it out till next week now. 

Get what you can afford. Less sometimes equals more in the end. It might keep going up. You wish. 😉

[Petra]

Smaller stuff such as sovereigns may be easier to liquidate in future rather than 1oz coins and large bars. Just buy what you can afford at the price you think is right. When prices are falling it is too easy to keep waiting for that little bit more of a drop and then get caught out by the sudden rises. A sovereign may be a £1 cheaper tomorrow, or may be £1 more expensive… take your pick!🤔😮

[27carrots]

On 13/10/2023 at 16:17, 1moreoz said:

I just got in about to buy a bunch of golf and price has shot up a good bit 🥲 will wait it out till next week now. 

Next week will be the worst time to buy. The price is gonna shoot to £1700 at least but will drop back to £1500 once the war is resolved in a couple of weeks. I’d wait until then.

[pricha]

If you were looking just at the gold and want to keep the math simple the 1/4oz Britannias are ideal.. modern sovereigns are OK but start buying " value" sovereigns,  like in the other thread , problems could arise.  

[1moreoz]

I couldn’t wait any longer just ordered a bunch of sovs from atkinsons. I bet gold drops tomorrow now 🥲

[James32]

1 minute ago, 1moreoz said:

I couldn’t wait any longer just ordered a bunch of sovs from atkinsons. I bet gold drops tomorrow now 🥲

Can I ask what you paid,please?

[1moreoz]

5 minutes ago, James32 said:

Can I ask what you paid,please?

£7849.40 for 20 sovs 

[James32]

3 minutes ago, 1moreoz said:

£7849.40 for 20 sovs 

Not an overly extortionate price for piece of mind. Although looking into a membership on here would have likely seen you achieving £385 a sov.

[1moreoz]

3 minutes ago, James32 said:

Not an overly extortionate price for piece of mind. Although looking into a membership on here would have likely seen you achieving £385 a sov.

I don’t fancy trying to be fastest finger on the forum to snag a sov. I am more than happy to pay dealer prices just wish it was £100 a oz cheaper 😂 if I didn’t buy tonight I had a feeling I was going to book a last min holiday instead.

Edited October 18, 2023 by 1moreoz

[Darr3nG]

8 minutes ago, James32 said:

Not an overly extortionate price for piece of mind. Although looking into a membership on here would have likely seen you achieving £385 a sov.

£380 if you know the right person...  

[James32]

1 minute ago, Darr3nG said:

£380 if you know the right person...  

Was adding my percentage lol

[Silverlocks]

On 12/10/2023 at 20:20, 1moreoz said:

I was wondering about gold weights. I always thought a oz was 28 grams but in gold it’s 31G right ? Also sovs are 7.9 so basically 8 and 4 of them are considered a oz is all that correct?

looking to buy some more gold next week. Leaning towards more sovs over the 1 oz coins and was just looking up there weights.

1 Ozt is 31.1g.  Sovereigns have 7.32g of fine gold weight.  The difference in weight between 4 sovs and 1 ozt is significant given the relatively small margins on gold.

[Guest]

14 hours ago, James32 said:

Not an overly extortionate price for piece of mind. Although looking into a membership on here would have likely seen you achieving £385 a sov.

Although the condition is also a factor I guess. An uncirculated sovereign with full lustre might be worth some £20-50 more than a bullion one, depending on the year of course. It's relatively easy to find mint Gillicks, but a Victoria old head in similar condition could attract much higher premium.

Of course everything you buy from the dealers will be in bullion condition, most likely grading between AU53 to AU58.