Gold Sovereign

[Coldicote]

Many years ago I was given a 1918 gold sovereign as a keep sake. What was a sovereign worth originally and can anyone tell me please what it might be worth now if I were to sell it?

[sandyRoe]

To sell it, about £250.

[mike11111]

Originally £1. Now it would depend on the price of gold at any given time. Without googling I would say at least £200 - £300, perhaps more.

[sandyRoe]

Were a sovereign and a guinea the same thing? A guinea was once worth £1.05

[scotman]

Yesterday gold was $1,780 ish per troy ounce.

[mike11111]

A guinea was never a coin, merely a monetary term. This was because guinea gold was slightly more valuable than ordinary gold so sovereigns minted from that had a higher value. The term guinea, used latterly only in horse racing and high-class fashion shops died a death with decimalisation.

[mike11111]

It was also a bit of a con on the public. 20 gns actually meant £21.

[Coldicote]

Many thanks for these answers. I had no idea it could be worth so much. Wonder if I should offer it to a jeweller or take it to my bank?

[scotman]

A jeweller will offer you scrap value - profit. Why would you take it to a bank?

[ABerrant]

Guinea never a coin!!!

http://en.wikipedia.o...Guinea_(British_coin)

[Coldicote]

I don't know, Scotman, just thought a bank might tell me what it's worth or the best way of turning it into cash.

[scotman]

according to Wikipedia a sovereign weighs 0.2354 Troy ounces nominal. You can find the current bullion prices daily in most good newspapers - Telegraph etc. This will give you the maximum value of your coin.

[Coldicote]

Thanks Scotman - I'll watch points with interest. It seems such a waste not putting it to some use, but I'm wondering how to sell it.

[paulrf]

There were 5 guineas coins minted up to 1777, 2 guineas also to 1777 (patterns only), 1 guinea to 1813, half guinea to 1813, third guinea to 1813 and quarter guine minted only in 1718 and 1762. Sovereigns superceded the guinea and were minted from 1817. In Victorias reign and Edward VII and George V sovereigns were minted in the colonies as well as by the Royal Mint. 1918 sovereigns were not minted in this country they were minted in Canada, India and Australia and were meant for use only in these colonies but some did turn up in England and were considered legal tender. You can tell where they were minted by looking for a small letter on the reverse useally somewhere just above or below the date. 'C' is the Ottowa mint, 'I' Bombay, 'M' Melbourne, 'P' Perth and 'S' Sydney. The value of the coin will depend upon int condition as these coins are collectable and thus if in good condition will be worth more than the bullion value. I suggest you look up to see if there are any coin dealers in your area and take it to them to be valued.

[ChuckFickens]

It's face value is £1

It's true value in gold is about £250

[Coldicote]

This is all very interesting - thanks Paul. Mine shows King George V and just above/beside the date there are two tiny letters. I must find a better magnifier to be sure but they look like S and P.

[boxtops]

have a look on eBay to see the varying prices being asked (some are half sovereigns too) http://www.ebay.co.uk...ge+v+sovereigh&_rdc=1

[scotman]

I reckon you will be very lucky to find anyone who will pay more than scrap value.
As of yesterday's closing the bullion value is about £260. Any jeweller etc. will offer less as they have to make a profit.

[TonyV]

I would take it initially to a reputable coin dealer, for ID and advice on value.

[Coldicote]

I'll do that, thank you.