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- - Sovereigns @ Spot+? (http://goldismoney.info/forums/showthread.php?t=161724)

TaxHaven | 08-01-2007 12:26 AM
Sovereigns @ Spot+? A roll of 50 sovereigns just went for $US8245 on EBay. I was prevented from bidding by the service demands (& noise!) of my family, but was wondering whether it would have been reasonable to go up to bout $US8700. At 0.2354oz. each, the roll totaled 11.77oz. (0.2354x50). At $US665/oz., the gold content amounted to $US7827. (Does anyone know if this 0.2354 is a troy ounce or a standard ounce?) At $8700, each coin would cost $US174, $US18 over the gold content of $US156+. Is this a reasonable premium to pay? Any guidance here?

Pragmatist | 08-01-2007 12:35 AM
Re: Sovereigns @ Spot+? $174? No way. http://www.apmex.com/Category/158/Go...ean_Coins.aspx ~Prag

AuNuggets | 08-01-2007 01:13 AM
Re: Sovereigns @ Spot+? Thats too high for Sovereigns. You should be able to get them for around $155-160 ea. .2354 is the fine gold weight in troy ounces on these, 23.54% of a troy ounce each. Very little if any numismatic premium to most of these, unless they are high grade uncirculated or rarer collectible dates. $18 over melt amounts to a $76.46 per ounce premium over their gold content. Then consider that most dealers will only pay 98% of spot when they buy them back. That amounts to almost a $90 per ounce spread. Don't let some kind of emotional attachment overshadow your common sense. Buy a Krugerrand for five bucks over spot and save the $85 difference toward your next Krugerrand......... You'll be alot better off in the long run.

TaxHaven | 08-01-2007 01:55 AM
Re: Sovereigns @ Spot+? Point made! Thanks for the info. Only one thing: nobody ever plans to sell his or her physical gold back to a dealer anytime soon, do they?!!!

skirnir | 08-01-2007 02:24 AM
Re: Sovereigns @ Spot+? Way too high. I sniped a German 20-mark (0,2305 oz) coin for $630/oz shipped, you just have to watch a bunch of auctions and go in for the kill at the last minute. Use the bid increment to your advantage since it makes a large % difference in the $100-200 range.

HistoryStudent | 08-01-2007 09:58 AM
Re: Sovereigns @ Spot+? Check out ALL the prices here. Might find it less elsewhere; but these are somewhat reasonable prices for just about everything. :s9: http://www.golddealer.com/bullionpage.html

Anty Ep | 08-01-2007 10:26 AM
Re: Sovereigns @ Spot+? Quote:
Originally Posted by TaxHaven (Post 681365) Point made! Thanks for the info. Only one thing: nobody ever plans to sell his or her physical gold back to a dealer anytime soon, do they?!!!
if the price is right, why the hell not? I like yer avatar, is that Brigit Bardot? What a babe, and a real European too.

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