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Question On Gold Sovereign Coins

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New Member

Canada
2 Posts
 Posted 12/21/2013  10:02 pm Show Profile   Bookmark this topic Add mtlex to your friends list Get a Link to this Message Number of Subscribers
I recently came in possession of a storage unit and among other things, I found a small bag with two coins.
After an internet research, I figured out that these two coins are gold sovereign coins. One is 1912 and the other is 1925.
I have some questions I hope someone can answer:

1) They look untouched with no visible mark or usage whatsoever. Is it possible that these coins are really 100 years old or could it be that they've been produced recently to commemorate something? They definitely don't look old, they look like something produced a week ago!

2) If it is indeed old coins, how can I estimate the value? I tried looking online but the prices varied between 200$ and 600$; I even saw one on ebay for 1600$?

3) If I decide to sell it, what would the best option be? I am from Montreal, Canada. I am unsure of selling something like this online...how safe would that be?

Thanks for your help!
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Fuzzy317's Avatar
United States
14463 Posts
 Posted 12/21/2013  10:06 pm  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
Can you post pictures of the coins? the obverse and reverse

New Member
Canada
2 Posts
 Posted 12/21/2013  10:26 pm  Show Profile   Bookmark this reply Add mtlex to your friends list Get a Link to this Reply
Thanks for the welcome!
I realized I never took any macro photography!! I tried with my DSLR, let me know if it is clear enough.
Question-On-Gold-Sovereign-Coins
Question-On-Gold-Sovereign-Coins

Also have two other questions:
4) I read online that these coins are used as investment. Should I hold on them? I am in no hurry to sell them unless you tell me the price will drop...

5) Found them in the pink pouch you see in the picture. Should I separate them? Stop holding them with my fingers? I'm getting paranoid! :P
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Fuzzy317's Avatar
United States
14463 Posts
 Posted 12/21/2013  10:36 pm  Show Profile   Bookmark this reply Add Fuzzy317 to your friends list Get a Link to this Reply
from those pictures, they look real. Closer pictures would be better. Have you weighed them and measured their size? I would suggest separating them.
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zxcccxz's Avatar
Canada
5417 Posts
 Posted 12/21/2013  10:55 pm  Show Profile   Bookmark this reply Add zxcccxz to your friends list Get a Link to this Reply
Coins are real although you should verify the weight and diameter.
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sel_69l's Avatar
Australia
21788 Posts
 Posted 12/21/2013  11:36 pm  Show Profile   Bookmark this reply Add sel_69l to your friends list Get a Link to this Reply
Both common dates. Mintmarks are almost of all the same value for these dates.
Value in Unc. would be very close to
$Cdn320 + 20% for each.

Comment in COIN YEARBOOK 2011:
"Extra care should be exercised, as good quality forgeries exist of virtually all dates and mintmarks" (as with all U.S. gold as well).
These look quite OK from the pictures, but should be examined in hand with a jeweler's loupe, as a general rule.

From my experience, genuine sovereigns for George V1 far outnumber the forgeries. Take care anyway.
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Mr T's Avatar
Australia
2180 Posts
 Posted 12/22/2013  6:53 pm  Show Profile   Bookmark this reply Add Mr T to your friends list Get a Link to this Reply
Sovereigns tended to spend a lot of time in bank vaults rather than circulation so finding uncirculated examples is common.
Also, the 1925 sovereign was also restruck in 1949, 1950 and 1951 so it's likely to only be 60 or so years old.
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Sap's Avatar
Australia
16850 Posts
 Posted 12/22/2013  8:04 pm  Show Profile   Bookmark this reply Add Sap to your friends list Get a Link to this Reply
To answer the OP's specific questions:

Quote:
They look untouched with no visible mark or usage whatsoever. Is it possible that these coins are really 100 years old or could it be that they've been produced recently to commemorate something? They definitely don't look old, they look like something produced a week ago!

Gold is like that. It doesn't corrode or tarnish like a brass coin will. As others have stated, the only thing that makes a gold coin "look old" is wear from circulation, and sovereigns basically did not circulate hand-to-hand at all much after the outbreak of World War I.

Quote:
If it is indeed old coins, how can I estimate the value? I tried looking online but the prices varied between 200$ and 600$; I even saw one on ebay for 1600$?

Five mints struck sovereigns dated 1925 (three in Australia, one in South Africa and the central mint in London) and all but the South African mint struck them in 1912. They are distinguished by little tiny mintmarks just above the date. Your coins have no mintmarks, so they are both London-mint coins. The Australian-minted coins are generally scarcer than either South African or British sovereigns.

Nobody should be asking $200 for a sovereign; that's way below gold price (currently $283). You might be looking there at a half-sovereign, which has the same design but is smaller and only half the weight. Yours are both full sovereigns (since no halves were made at any mint in 1925).

The other variable in determining a coin's price is condition. Some coins are better preserved than others. As you can see from the NGC database for the British George V sovereign, coins that show any kind of wear or damage are pretty much only worth their gold content. Genuinely uncirculated examples can be worth $100 or so more than that.

Quote:
If I decide to sell it, what would the best option be? I am from Montreal, Canada. I am unsure of selling something like this online...how safe would that be?

You could sell it at pretty much any coin dealer or jeweller; they will give you slightly less than the gold content price. You might get more by selling it online or finding a coin collector interested in it as a coin rather than a mere piece of gold, but if you need money in a hurry, it's nice to know you should be able to get at least that much money for it, easily.

Quote:
I read online that these coins are used as investment. Should I hold on them? I am in no hurry to sell them unless you tell me the price will drop...

Nobody ever really knows for sure what the price of gold is going to do in the next week, month, year or decade. All you have to do is read through the archives of the "Bullion forum" right here on CCF to realize this. People often say they are "investing" in gold, but what they are really doing is speculating - which is really just a sophisticated form of gambling. That being said, gold does have a very good history of holding on to its value, especially when other more volatile forms of wealth are crashing. If you think these are troubled times and you don't need the money right away, you might as well hold onto them. Or, you've got two, so get the best of both worlds: sell one, and keep the other.

Quote:
Found them in the pink pouch you see in the picture. Should I separate them? Stop holding them with my fingers? I'm getting paranoid! :P

Gold is, as I said before, pretty indestructible. Unlike bright shiny silver and copper coins, you can hold gold coins in your fingers without having to worry about leaving fingerprints behind. So in that sense, gold coins need less "care" than other coins. However, gold is very soft. Even the 22k gold used to make these coins is much softer than any other coin you're likely to have encountered. This means they can easily be damaged by dropping them onto a hard surface, or by knocking the two coins together in a pouch or pocket. I own a couple of sovereigns; I treat them with the same care as I treat all my other coins.
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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