Are these worth buying -Great Britain Gold Sovereigns
1630Boston
Posts: 13,786 ✭✭✭✭✭
At $50 over spot?
.
Great Britain Gold Sovereign Coin – Queen Elizabeth II (1957-1968, BU)
ON SALE!
.
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
1
Comments
That coin contains a quarter ounce of gold... about $440 at current melt. I do not know what the collector premium is now... You could research that. Cheers, RickO
0.2354 troy ounces of gold in British sovereigns. Most of these are traded at modest premiums only. So if spot were $1750, a $50 premium would result in a price of $462. Meanwhile, 1/4oz AGEs are listed by major bullion dealers for around $120 over spot.
Selling on APMEX for $462
$50 over spot translates into over $200 premium per ozt. Very pricey imo, there was a time not too long ago when sovereigns could regularly be had at spot. That said premiums are currently very high on everything. It seems like even just a month or so ago you could find Sovereigns for $20-$25 over. The premium has doubled since then. I'd personally hold out for a better deal but then everyone's situation / goals etc. are different. RGDS!
The whole worlds off its rocker, buy Gold™.
BOOMIN!™
Thanks @blitzdude
Successful transactions with : MICHAELDIXON, Manorcourtman, Bochiman, bolivarshagnasty, AUandAG, onlyroosies, chumley, Weiss, jdimmick, BAJJERFAN, gene1978, TJM965, Smittys, GRANDAM, JTHawaii, mainejoe, softparade, derryb
Bad transactions with : nobody to date
Ebay seems to be around $460+ as well..
They can still be bought at spot or very close. I sold some a little while ago and that’s all anyone would pay