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 Replies: 14 / Views: 2,191 |
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New Member
United Kingdom
13 Posts |
HI guys,
I love the thought of owning a gold sovereign and was wondering how much is this worth?....
*** Moved by Staff to a more appropriate forum. ***
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Pillar of the Community
United States
2120 Posts |
well there are a few things you can do to determine vaule, other than what someone says its worth. Homework... How much does it weight and what are its dimensions. What is it's finesse? (finesse = amount of gold actually in the coin. 90% silver coins have a finesse of .900) and how many actual grams of gold does it contain? (finesse X weight of coin = actually gold content. 26.73g X .9 = 24.057g) What is melt for gold today? ($1192.10 /oz at the time of writing) This will help you calculate its Melt value, or minimum value. Next, How many were minted? Is that high or low compared to the series? Is there record of a large melting or disposal of this example? How available are these? Are there a ton on ebay or heritage, or hardly any mention anywhere? What are the realized prices of previous (recent) auctions for this coin? Finally, How much are you willing to pay for this coin? I feel this is the most important factor. If you are buying for resale or investment potential the math is all that matters. If you wish to purchase this and keep it as something you like and want to have for a long time, it only matters what you feel comfortable with paying. Personally, when I get into buying gold, I'm going to wait for pieces that I can get as close to melt as possible, unless there is something that I like that makes me want to pay more. How much more is up to you. But if you wanna cheat, my estimates put it at about $230 USD. |
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Valued Member
United States
376 Posts |
You won't get any better advice than that.
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New Member
 United Kingdom
13 Posts |
Thanks, alot to look into, I'm only a novice coin collector since finding a £2 dove of peace coin in my change one day, then I did a bit of digging around but I'm stumped on if its gold or not...chance's are not since it was in circulation....but what if
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Pillar of the Community
United States
2120 Posts |
Gotta remember, back then gold coins were still around. And mints still made them for "assurance." The US Mint made gold coins for collectors and to be able to honor the "Gold Certificates" that were issued. So a 1911 gold coin is a very realistic possibility. Btw, searching google I found this. Designer Benetto Pestrucci Minted 1911-1919 Weight 7.9881 Grams Composition .917 Gold, .083 Copper Gold content 0.2354 Ounces Size 22 mm, reeded edge. from http://www.thegoldcoinstore.com/Wor...ada_Mint.phpso it looks like it has finesse of .917 and 7.3250877g of actual gold. BTW, NEVER EVER EVER believe the hype about a coin on a site where someone is trying to sell that coin. They will say anything to make something appear rare. a classic phrase like this: "the original mintage totals for Canadian sovereigns are minuscule compared to the other mints"could mean anything. 1,000,000 is minuscule compared to 1,000,000,000,000. stick to non-selling sites for your Facts. A few links. http://www.goldsovereigns.co.uk/1911sovereign.html (mintage figures and pictures of the reverses for each mint.) http://en.wikipedia.org/wiki/Ottawa_Mint_sovereign (I believe thats what the one you linked is.) Considering the mintage figures my initial estimate may be quite low. HTH Edited by Namachieli
07/20/2010 5:20 pm
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New Member
United Kingdom
13 Posts |
so you stick by your valuation of the coin?...is there any way too find out if a coin is gold other than paying for it to get checked at a jewelers
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Pillar of the Community
United States
2120 Posts |
My estimate was before realizing the mint of that coin. With it being comparatively VERY low it is probably worth closer to $350-$400 USD. But don't take my word for it, do your homework. I'm just giving you a step off point.
And researching a coin will tell you if the original coin is gold or not. I say original cause if it is a fake... it could be made of anything. I personally have no idea about diagnostics for Canadian gold as to its authenticity.
This is one reason why knowing the melt value of a coin is beneficial. Most of the times decent fakes are made of the same composition as the original, so if you bid the melt value of the coin and it turns out to be fake (but still made of gold) you haven't lost anything, you still have an ###g gold coin worth nothing more than melt, which is what you paid. On the upside, if it turns out to be genuine, you got a good coin at melt. Just something to think about.
Btw, when I started reading your post, I never knew this coin existed. I just hit google and started searching. So the info is out there.
Edited by Namachieli
07/20/2010 5:35 pm
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New Member
United Kingdom
13 Posts |
thanks I just went down the route of asking somewhere were people know there stuff....my dove of peace is from the UK
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Pillar of the Community
United States
2120 Posts |
Well we are glad to share our knowledge. But you know the saying,
"Give a man a fish..."
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New Member
United Kingdom
13 Posts |
lol......i'll keep this thred informed of what I find out about this since peeps havent heard of this coin before
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Pillar of the Community
United States
2120 Posts |
Oh I'm sure others have heard about it and know plenty... I was just saying that I had not.
I was just the first to really respond. :)
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Pillar of the Community
United States
2605 Posts |
Quote:
peeps havent heard of this coin before Peeps have. The (milled) sovereign has been struck since George III starting in 1812. The hammered sovereign, also named unite, laurel, or pound, goes back to Henry VII, 1485 - 1509. Probably the most affordable gold sovereign would be one of Elizabeth II, which you could get just for the bullion value. If you'd like a more affordable gold (British) coin you may consider half sovereign. |
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Moderator
 Australia
16837 Posts |
The sovereign linked to in the CastOff auction above is a Canadian-minted sovereign (there's a tiny letter "C" in the ground-line just above the date). These are indeed scarcer than other sovereign mintages from other mints, especially from London and the three Australian mints (Melbourne, Sydney and Perth). Pre-WWI circulated sovereigns from common dates and mintmarks are traded as bullion coins, typically at just above gold bullion value, which is currently about £184 at the moment.
I paid AU$387.96 for a 1911 Canadian sovereign off a forum member here on CCF back in May - that's about £225 at current exchange rates. That's including shipping from the USA to Australia.
Your 1995 Peace £2 coin is almost certainly not gold. There were 2500 proof gold coins struck with this design; there were just over six million nickel-brass coins struck for circulation. Even circulated, a proof gold coin would look radically different from a nickel-brass one, with highly polished mirror-reflective fields. Additionally, it should weigh the same as a normal non-bimetallic £2 coin (15.98 grams) but being made of gold, it should be noticeably thinner, since gold is much denser than nickel-brass.
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 Kingdom
13 Posts |
good thing about the sovereign and deep down I knew my dove of peace wasn't gold but we can always hope...Thanks
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New Member
United Kingdom
13 Posts |
Found another one but carn't see any 'c' on this one ***Edited by Staff - Please Review the rules that you agreed to when you registered. *** |
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Replies: 14 / Views: 2,191 |
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Posted 07/20/2010 4:26 pm
