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 Replies: 15 / Views: 7,267 |
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New Member
United Arab Emirates
6 Posts |
I just bought my first 3 gold coins from what I have heard to be a reputable dealer here in Abu Dhabi. However, I am a little concerned with my 3 coins now that I have brought them home from the store after doing MORE internet research. I thought myself well prepared when I went to buy them, but I guess I could have been more prepared. Here is the deal. The coin reads: "GEORGIVS:V:D:G BRITT:OMN:CGR.F.D:IND:IMP" Nowhere online have I found the 1915 Sovereign read "CGR" instead of "REX" and I am fairly concerned. Pictures are attached. New goldbug in need of some experience help! Also, the stamp reads "QP" Dave   |
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New Member
 United Arab Emirates
6 Posts |
I've been reading even more since I posted this just shortly ago, and I really do feel as though I may have been duped. May be the time to pay the store a visit seeing as how it was only a few days ago that I bought them. I just want to see if there was something I missed. http://www.goldsovereigns.co.uk/for...georgev.html |
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Pillar of the Community
United Kingdom
739 Posts |
 Dave What you have appears to be a 22 Carat Gold Plated "thing" The reverse is stamped 22CT and what looks like GP is inscribed above the front legs. |
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New Member
United Arab Emirates
6 Posts |
It is actually stamped QP. Headed back to the store in question tonight.
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Pillar of the Community
United Kingdom
739 Posts |
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Bedrock of the Community
Australia
21788 Posts |
This coin is obviously a rather free copy.
Nevertheless it MAY be actually made from 22 carat gold!
It needs to be checked for diameter, thickness, weight and comparison ring tone against a known genuine coin.
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Pillar of the Community
United Kingdom
548 Posts |
I would try to return them if I were you. Even if they're real gold, Sovereigns aren't supposed to be stamped with 22ct. It makes them look fake.
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Pillar of the Community
United Kingdom
2135 Posts |
Also, the bust of Geo V is different from the coinage bust.
Your coin has a bare chin and what looks like a wing under his jaw.
I think this is very similar to a 'jewellery fake' - they exist for half sovs, £2, £5, Austrian 4 ducat, 100 coronas, French gold and probably others too.
There's no easy way of knowing how much gold, if any, there is.
Good luck getting your money back.
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Valued Member
United Kingdom
252 Posts |
Hmm.... I wondered if the CGR meant anything.
Quick google later, turns out CGR is the company code for Claude Resources Inc. A Canadian GOLD MINING & EXPLORING company !!
Can't find any references to any coins produced by them tho :S
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Moderator
 Australia
16868 Posts |
It appears to be a "jeweller's replica" sovereign. It's very common in the Middle Eastern gold markets for replicas of gold coins to be made; this allows gold to be traded in a form everyone is more familiar with. The "coin" is likely to be made of solid 22k gold. It is unusual to see such a replica sovereign made with a design that differs so markedly from genuine sovereigns. This thread has a more typical replica: an exact copy, only with the maker's initials and fineness mark added. I suspect "CGR" and "QP" are the initials of the people that made and/or sold them. Don't say "infinitely" when you mean "very"; otherwise, you'll have no word left when you want to talk about something really infinite. - C. S. Lewis
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New Member
United Arab Emirates
6 Posts |
Thank you everyone for all the great feedback you have provided. I don't really think I was had when it comes to the gold content, but more so on the fact that its not a 'real' coin. The 2 year old was cooperating last night so will have to get out there today after work instead. But I will definitely let everyone know how it turns out.
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Valued Member
United States
321 Posts |
If you paid spot for it you're fine. If you bought it as a numismatic coin, it's a replica.
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Pillar of the Community
United Kingdom
1569 Posts |
a reputable dealer here in Abu Dhabi? ....
I would be tempted to hang on to that item for a little while, fully research it first. The value of that might outway the value of the coin it is representing (if 22k). Just by looking at the thing and the marks that it has, it is not made to fool anyone but is made (as sap put) in a familiar form. The object has good history and interest to it.
You will never soar like an eagle if you hang around with turkeys.....
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New Member
United Arab Emirates
6 Posts |
Sorry I haven't got back with you guys on this. Just have not found the time to get back down into Abu Dhabi. However, Gold is still on the decline, so will probably try to get out there after I see what it does today, to possibly buy some more. BUT, ask them about the coins they sold me the first time before I commit myself anymore.
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Pillar of the Community
United Kingdom
2135 Posts |
Sovereigns and halves normally trade at a considerable premium to their gold value.
If this was sold to you as a genuine sovereign then I think you should ask for your money back as it's not; though you'll have to accept less due to the fall in the gold price.
If you paid close to gold price and it is genuine 22K gold, then that's a play on the gold price and whether you buy or sell depends on your view of the future.
If the dealer maintains it's a genuine sovereign and won't give you a refund, then don't buy from him in the future.
Possibly tell us his name and location so that others don't fall foul of him.
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New Member
United Arab Emirates
6 Posts |
Pertinx,
As soon as I head back to him to discuss this, I will let you know the business name if he does not work with me. Thanks.
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Replies: 15 / Views: 7,267 |
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Posted 04/29/2013 10:26 am
