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Mcb2007
Mcb2007
Posts : 293
Join date : 2021-11-20
Location : UK

Sovereign cost  Empty Sovereign cost

Wed Feb 01, 2023 6:20 pm
I started with silver now dabbling with gold ,the question is how much is too much for a full sovereign.

Are you uncomfortable paying over £400 ? I have bought at £370 and just paid £404 for the memorial bullion sovereign , I can see it a long term to get any proper returns on them but willing to chance it .
So how much would you go to before it puts you off buying ?

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denby
denby
Posts : 180
Join date : 2021-07-25
Age : 72
Location : Scotland

Sovereign cost  Empty Re: Sovereign cost

Wed Feb 01, 2023 6:37 pm
I think we have to keep paying the going rate. If they go to £600, and then to £800, that's OK it's just relative to the
?value? of our currency. Some of our older members will remember paying under £200 for a gold sovereign not that long ago. Keep buying regularly like monthly savings. If the sovereign becomes too expensive, move down to the gram, but keep buying, like the Western Central Banks are doing right now.
I heard the average holding of gold per head in the World is only about 1.5 grams. So £55 a gram is OK as a monthly saving in the UK.

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Admin
Admin
Admin
Posts : 2215
Join date : 2021-05-08
Location : England UK
https://www.thepreciousmetalforum.com

Sovereign cost  Empty Re: Sovereign cost

Wed Feb 01, 2023 6:44 pm
I have not committed to buying a FULL sov yet... and I am still easing myself in....

I am unsure how I feel over all. It goes on the numismatic side as well as bullion. I know plenty of people selling 100+ year old sovs for spot plus a little bit like 1%

So I dont know. how I feel.. I guess I am personally leaning on AGAINST. But that is my personal view... and YES one day this year I will buy a full sov.

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Mcb2007
Mcb2007
Posts : 293
Join date : 2021-11-20
Location : UK

Sovereign cost  Empty Re: Sovereign cost

Wed Feb 01, 2023 7:04 pm
Are the proof sovereigns worth the extra outlay , the proof memorial coin was around1/3 more expensive than the bullion . The way the RM are performing QC wise can you trust them to produce the quality expected of a proof coin

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Rod Panhard
Rod Panhard
Posts : 177
Join date : 2021-05-25

Sovereign cost  Empty Re: Sovereign cost

Wed Feb 01, 2023 9:31 pm
Gold is always upvalued massively - eventually, so as long as you are good with it being a long term hold and won't have any sleepless nights when it dips and are happy to hold on to it you won't lose money.  If you look at the all time gold price chart for years it floated around £20 and then one year bang £80, floats about this for years and then one day £200, then £800 and today £1,500.  I think we all realise there is something wrong with the current financial system so a massive revaluation upwards could be on the cards soon.

The Central Banks are not increasing their gold holdings for nothing and it was not made a Tier 1 asset for nothing either.

I think gold is actually the more sensible play than silver now, the premiums are reaonable, no VAT, it's easy to sell when the time comes.

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tray
tray
Posts : 557
Join date : 2022-07-02
Age : 51

Sovereign cost  Empty Re: Sovereign cost

Thu Feb 02, 2023 7:24 am
I have full/half proof and billion sovereigns. Depending on what years they are, to the price I pay. When buying proofs directly from the mint. Anything wrong with that coin and it goes back

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tray
tray
Posts : 557
Join date : 2022-07-02
Age : 51

Sovereign cost  Empty Re: Sovereign cost

Thu Feb 02, 2023 10:47 am
I have full/half proof and billion sovereigns. Depending on what years they are, to the price I pay. When buying proofs directly from the mint. Anything wrong with that coin and it goes back

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Mcb2007
Mcb2007
Posts : 293
Join date : 2021-11-20
Location : UK

Sovereign cost  Empty Re: Sovereign cost

Thu Feb 02, 2023 11:13 am
I heard you the first time lol

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tray
tray
Posts : 557
Join date : 2022-07-02
Age : 51

Sovereign cost  Empty Re: Sovereign cost

Thu Feb 02, 2023 11:25 am
[quote="Mcb2007"]I heard you the first time lol[/quote

My phone's playing up my poor husband gets multiple of Texts saying the same thing]

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barnsaby
barnsaby
Posts : 19
Join date : 2023-01-04
Location : Oxfordshire

Sovereign cost  Empty Re: Sovereign cost

Fri Feb 03, 2023 2:46 pm
This is an interesting area that I ponder on a lot. My thinking is akin to many on here; gold sovereigns are a great form of long-term savings. To this end, while I want to buy them as cheaply as possible, I don't mind paying a bit more from time-to-time. I tend to avoid numismatic premiums on the whole, but also have an UNC shieldback that I think was worth it. Time will tell. But as denby notes, it's what the banks are doing. To this end, my philosophy is copy the big boys! And while we cannot get 400 ozt ones ourselves, 1/4 ozt will have to do!

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Faiz
Faiz
Posts : 37
Join date : 2023-02-06
Location : Birmingham

Sovereign cost  Empty Re: Sovereign cost

Tue Feb 07, 2023 10:08 pm
I would say £400 for a full and £200 for half. @barnsaby put it succinctly. Buy some, do what the banks are doing. Don’t overpay, but when you do, it should be for a good reason. Some people just collect sovereigns and nothing else. I think it probably the safest coin type to put money into.

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Faiz
Faiz
Posts : 37
Join date : 2023-02-06
Location : Birmingham

Sovereign cost  Empty Re: Sovereign cost

Tue Feb 07, 2023 10:16 pm
Admin wrote:I have not committed to buying a FULL sov yet... and I am still easing myself in....

I am unsure how I feel over all. It goes on the numismatic side as well as bullion.    I know plenty of people selling 100+ year old sovs for spot plus a little bit like 1%

So I dont know. how I feel.. I guess I am personally leaning on AGAINST. But that is my personal view... and YES one day this year I will buy a full sov.

I wouldn’t hesitate. Go for it if you’re getting such deals. Nothing like a full sov in hand. It feels different to your regular silver. Measurably denser.

“I am your density…”

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Admin
Admin
Admin
Posts : 2215
Join date : 2021-05-08
Location : England UK
https://www.thepreciousmetalforum.com

Sovereign cost  Empty Re: Sovereign cost

Wed Feb 08, 2023 10:32 am
Faiz wrote:
Admin wrote:I have not committed to buying a FULL sov yet... and I am still easing myself in....

I am unsure how I feel over all. It goes on the numismatic side as well as bullion.    I know plenty of people selling 100+ year old sovs for spot plus a little bit like 1%

So I dont know. how I feel.. I guess I am personally leaning on AGAINST. But that is my personal view... and YES one day this year I will buy a full sov.

I wouldn’t hesitate. Go for it if you’re getting such deals. Nothing like a full sov in hand. It feels different to your regular silver. Measurably denser.

“I am your density…”

lol! lol! lol! lol! oh gosh help us.

The reason I am not a Sov guy has always been down to the fact I like PURE bullion. so 999 or greater, with the exception of Platinum which is .995

I did a whole video on it on my channel and for costs reasons the Sovereigns work out a little bit cheaper per troy oz. BUT then again I do like pure Gold. I guess I have no hard feelings if I were to melt one down.... where as the sovereigns are a moral thing.

I will buy myself a full gold sovereign sometime .. I am just not rushing out. study

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Faiz
Faiz
Posts : 37
Join date : 2023-02-06
Location : Birmingham

Sovereign cost  Empty Re: Sovereign cost

Wed Feb 08, 2023 10:35 am
There is that. If you have the option of melting, then pure gold makes more sense.

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