There are two ways of investing in Gold Sovereigns.
But for the gold price value and sell when gold goes up.
These are sovereigns in any state of condition
Or
Buy proof sovereigns or collectable sovereigns that cost sell for more than bullion scrap value.
Personally I have done both, buying sovereigns for scrap value between £220 and £240 a few years back and sold for £350 to £400 over last few years.
To buy I bought in local auctions (don’t forget to add in commission to work out final price) …god knows why someone would sell them this way, but they do ..idiots lol
And also buy online and they arrive in the post via a company called Bullionbypost.
To sell I have used eBay (select a weekend when eBay offer 70% off selling fees) and factor in postage costs.
Also I sell to Bullionbypost and factor in postage costs.
You call and get a price then have to send coins within a day or so fully insured.
The proof sovereigns , I purchased two QEII Plat jubilee proof sovereigns for £585 each inc postage and when Queen died a sudden demand pushed price up to £950 each on eBay where I sold them.
Price not that anymore now demand has fallen.
The adverts on TV are offer rip off prices , so beware.
I also bought 50g gold bars in Switzerland in 2013 until 2017 via UBS bank. You can buy them over the counter.
I did sell a Gold Maple leaf via ebay last year for £1540.
This was purchased from UBS for equiv of £860 some years back.
It was one of three I purchased at the time.
Anyway buyer on eBay seemed honest, lived in a nice 4 bedroom detached and paid for coin within 48 hours.
Anyway a week after he got coin he said he had it tested by company where he stores his gold in their safe and they said coin was coming back as 98% gold instead of 99.999% and also X-ray showed a lump in the middle. So probably a Chinese fake that have tungsten lumps in the middle that are then gold plated.
I was in shock and wondering how UBS had sold me a dud some 7 years prior ..oh joy …so I wrote off the money and asked for coin back and I would refund him. I contacted UBS and they said they wanted me send on ID before they would correspond with me ….
After 8 days no coin was returned to me.
Then I got a message on eBay …
The company who said it was fake (I saw report also) sent coin to assay in Birmingham and they conformed it was 99.999% hold and genuine.
It seems the person who did test didn’t do it properly!
My lesson was …don’t use eBay and sell to a bullion dealer next time.