BS: Who knows about gold coins?

Subject: BS: Who knows about gold coins?
From: michaelr
Date: 18 Nov 10 - 12:38 PM

I have some British gold sovereigns dating from 1877 to 1958 that I may be forced to sell. My question is: Would the coins be worth more (say, to a collector) than the gold by weight? And how should I go about selling them? I don't just want to go to the local scrap gold merchant.

TIA,
Michael

Subject: RE: BS: Who knows about gold coins?
From: Jack Campin
Date: 18 Nov 10 - 12:41 PM

I found and sold one once. Seemed they weren't worth much more than scrap value.

Subject: RE: BS: Who knows about gold coins?
From: olddude
Date: 18 Nov 10 - 12:42 PM

No No NO ... take a photo ... go to http://www.skinnerinc.net

Skinners is one of the big auction houses and will get you top dollar ok

Subject: RE: BS: Who knows about gold coins?
From: Little Hawk
Date: 18 Nov 10 - 12:44 PM

They would certainly be worth more than merely the gold by weight...to a collector...providing the collector was honest and told you what they were worth.

Your best bet might be to sell them online through something like Ebay...as this way the competition among the collectors themselves would drive the price up to a reasonable level. You might take a look on Ebay and see what similar items are going for before deciding. If you do sell on Ebay, set a reserve price on the item at the lowest price you are willing part with it on.

Subject: RE: BS: Who knows about gold coins?
From: beardedbruce
Date: 18 Nov 10 - 12:49 PM

Worth more as coins- but

http://www.coinflation.com/gold_coin_values.html

is one site that gives the gold value- a floor on what you shopuld get for them.

Subject: RE: BS: Who knows about gold coins?
From: pdq
Date: 18 Nov 10 - 12:50 PM

With the record high price of gold, you may be surprised that beautiful gold coins may be worth no more than the gold content. Rare US dates are an exception.

Subject: RE: BS: Who knows about gold coins?
From: John MacKenzie
Date: 18 Nov 10 - 12:51 PM

The value depends on the condition. 'Fine' coins are worth money, and 'mint' is worth more, but they are the exception.
What you do have on your side is the high value of gold at the moment.
Have a look round dealer sites, that will give you an idea.

Subject: RE: BS: Who knows about gold coins?
From: Amos
Date: 18 Nov 10 - 12:51 PM

If they are in decent shape they will be worth significantly more as collector's items. PM me if you want the name of a specialist who provides intelligent guidance on the topic of gold coins.


A

Subject: RE: BS: Who knows about gold coins?
From: Richie Black (misused acct, bad email)
Date: 18 Nov 10 - 12:55 PM

Well said Little Hawk, I sold similar coins on ebay a few years ago. I received almost 50% more than two dealers had offered me. Your item will have a worldwide audience and most serious collectors tend to keep an eye on ebay.

On the down side, ebay and Paypal commission fees are painful.

Subject: RE: BS: Who knows about gold coins?
From: Georgiansilver
Date: 18 Nov 10 - 01:02 PM

Take a look at those listed on Ebay

Subject: RE: BS: Who knows about gold coins?
From: Little Hawk
Date: 18 Nov 10 - 01:03 PM

Ebay is great, because you reach most of the really hardcore collectors of unusual items that way...and they will pay what the thing is worth.

I'll give you an example. I collect scale models of airplanes. So do a few other people...maybe half a percent of the adult male population...maybe less than that. I have a couple of rare 1/32 scale models of a Japanese fighter plane here that I bought once for about $15 each. If I take them to a local hobby meet, I might get $40 apiece for them if I'm lucky or I might get nothing at all for them...but if I sell them on Ebay, I will get about $300 each for them from collectors who know what they are. That's because Ebay reaches the entire world.

I've never worried much about the commission fees. They're pretty low.

Subject: RE: BS: Who knows about gold coins?
From: EBarnacle
Date: 18 Nov 10 - 01:31 PM

As a former coin dealer, I can tell you that you will be offered about 50% of list value for the coins by a dealer. It will be a good way to find out the value of the pieces without doing the hard work. If you are willing to do the work, go to Coin World Magazine and look up each piece. You will have to determine condition in order to determine the value.

Also bear in mind that the value will fluctuate depending upon whether the value of bullion is up or down that day. The premium of "coin value" will moderate these fluctuations if the coins are relatively rare and in Fine or better condition.

Subject: RE: BS: Who knows about gold coins?
From: Q (Frank Staplin)
Date: 18 Nov 10 - 02:28 PM

No problem to get the 'gold value' in Canada, where the Bank of Nova Scotia will take them based on gold value.

Collectors want excellent condition, and rare dates or markings; otherwise the value is little more than the gold value.

Your library, if large, may have catalogues, issued yearly, that list values by date and condition. Catalogues cost about $15-30; Spink's Coins of England is 17.70 pounds.

Subject: RE: BS: Who knows about gold coins?
From: EBarnacle
Date: 18 Nov 10 - 02:36 PM

Depending upon rarity, collectors will accept almost any coin condition. Obviously, the commoner the coin, the better the condition will have to be for it to have "coin value," that is, value above the gold value.

Subject: RE: BS: Who knows about gold coins?
From: michaelr
Date: 18 Nov 10 - 03:24 PM

My sovereigns (not rare) aren't mint condition. Therefore, it appears, they are not worth more than the gold content.

Thank you all for your helpful hints.

Subject: RE: BS: Who knows about gold coins?
From: Georgiansilver
Date: 18 Nov 10 - 05:02 PM

Michaelr.... Take a look at this site... click on the link... Baird and CVo Hatton Garden London.... click on SCRAP PRICES and you can see how much 22ct gold (which is what sovereigns are made of) is worth per gram. Half sovereigns are just under 4 grams and full sovereigns just under 8 grams. Best wishes, Mike.

Baird and Co London who I deal with for scrap gold.

Subject: RE: BS: Who knows about gold coins?
From: Q (Frank Staplin)
Date: 18 Nov 10 - 08:51 PM

Canada also produced a few sovereigns, reigns of Edward and early George. They do have a fair amount of value because mintage was low.
I have a few lateish King George V, left over from that time when I bought them as gifts. Canadian banks always had some for American tourists and buyers like me, as well as some Imperial Russian gold coins which nobody much wanted at the time. USSR, of course, needed money and was selling off whatever was in the treasury vaults, etc.

Some people buy gold coins as an investment, but bullion and certificates are cheaper. Australia, Canada and Austria put out very attractive gold coins, very popular.
Canada- www.mint.ca
Other countries- www.talismancoins.com; good illustrations.

Subject: RE: BS: Who knows about gold coins?
From: EBarnacle
Date: 18 Nov 10 - 09:36 PM

Michael, Don't be in such a hurry to sell them for bullion until you have checked them out. You might have a treasure hiding there.

Subject: RE: BS: Who knows about gold coins?
From: Amos
Date: 18 Nov 10 - 10:14 PM

Michael, see PM.


This man will give you the straight story IMHO.]\\\A