Gold Sovereigns Advertised On Tv.

[dave50]

Are they worth anything apart from the bullion value or will they ever be worth anything more in the future apart from any increase in gold prices?

[barry1010]

I wouldn't buy them as an investment but investments are always a gamble.

[ToraToraTora]

they are a way of investing in gold, they will never be worth more than the scrap value. They are usually overpriced anyway. They hope people don't realise they are not pure gold and the weight for gold is in Troy ounces.

[rowanwitch]

Be careful, a lot of the gold coins on offer are ¼ sovereigns and are about the size and weight of an old sixpence, we are conditioned by the sellers to think only in terms of full sovereigns.
If you want to buy gold I was told its better to buy in small ingot form where you will get a certificate confirming it's carat weight and also origin. As well as diamonds blood gold is something to be wary of.

[SIRandyraven]

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.

[SIRandyraven]

Link to bullion dealers I use.
They have been in business for years.

https://www.bullionbypost.co.uk/sell-to-us/sell-gold-coins/sell-gold-sovereigns/

Ps Even the Royal Mint overcharge for gold bullion I find :-)

[SIRandyraven]

Some say gold will hit $2300 in 2024.
The price you get when you sell or buy is also dependant on the GBP to USD rate also.
Personally I’m no longer buying and when price hits $2100 I will sell.
Obviously GBP to USD will need to be below $1.3 to £.
Of dollar strengthens and/or pound crashes and we see below $1.2 again then I will sell at $1950 or above.

I think gold has hit its high for the moment due to higher interest rates.
As a safe haven Bitcoin stole its thunder a few years back, but people are turning to gold again now.
If Putin invades Poland then watch gold price rocket to $2500 or above