Selling Gold Sovereign Coins

Selling Gold Sovereign Coins

Gold coin collectors have at some point owned or wished to own a gold sovereign coin. Sovereign coins are extremely collectable and if you have a few to sell, here are a couple of things you should know before you start advertising that you have sovereigns you would like to sell. 

Sovereigns might be collectible but it if they are sitting in your house. They aren’t adding any value to your life if they are just sitting there, however you can find gold dealers Brisbane to sell them to and make extra cash to help you out of your financial situations. There are a couple of general questions that people often have when selling their sovereign coins for cash.

First things first, what are gold sovereigns and why would anyone want to buy them from you? 

The UK first issued gold sovereign coins in 1489 during the reign of King Henry VII. They were made from 22k gold, weighed a quarter of an ounce. The coins design featuring St. George on his horse slaying a dragon was created by world renowned engraver, Benedetto Pistrucci. Thousands of these coins were minted in London and as far afield as India, Canada, Australia and South Africa. 

Why would you want to sell your gold sovereign coins? The answer is simple. If you have them just sitting there and you aren’t getting any enjoyment from them then you should think about selling? With the price of gold being as high as it has been over the past year, this could be a great time to make some extra cash from your gold coins.

Who would want to buy sovereigns?

Sovereign coins are one of the most popular gold coins in the world. Collectors and numismatists love them for their historic appeal and their aesthetics. They would be willing to pay more than the spot price. 

You can sell gold coins like Sovereign coins to collectors or auction houses if they are older. You can also sell to gold dealers Brisbane but you  need to be aware that some dealers prefer buying coins that they have sold themselves, other dealers may buy gold they have not sold buy they may offer a lower price.

Unfortunately, not all dealers will be interested in buying gold sovereigns. Some dealers are known to only buy back coins or gold that they have sold to you themselves. You should be aware of the dealer’s spread. This refers to the difference in the price at which gold is sold and the price at which it is bought. The higher the spread, the higher the more profit the dealer makes.

Before you sell any gold coins you should do your research so you get a general idea of what it might be worth as well as the best way to sell gold coins like Sovereigns. Go to auction sites and see what similar coins were sold and for how much. Consider the condition of your coin as this will affect its price. Be realistic with your expectations and remember that not all sovereigns are worth large amounts of money.  

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