I don't want to overpay for the coin, so how much would I expect to pay for an average, run of the mill gold sovereign? Please respond, thanks
I've seen them for 250 at the shows. They go for 240 on ebay quite often. Probably won't find them too much cheaper than that.
I'm not sure that $240 is possible any more. At $980 an ounce, the intrinsic value of a sovereign (0.23542 oz) is about $230. $250 for a bullion sovereign is a premium of about 8%. That used to be possible in the US, but it's getting harder to find. APMEX still quotes that price but has run out of stock! If you just want a single bullion-grade sovereign, then I wouldn't be surprised if you had to pay a 12% premium or about $260. Later, John PS If you do find out what is the current best price, please come back and tell us.
I just got one for $227.77 off of eBay...an amazing price indeed! Just look at the quality of the coin as well... http://cgi.ebay.ca/ws/eBayISAPI.dll?ViewItem&ssPageName=STRK:MEWAX:IT&item=230345490101 Here are some other coins I bought today, and some specs on my sovereign: http://www.cointalk.com/forum/t55080/#post603108
Gosh, that was a good price: 1.2% below spot! Clearly I just do not understand the US market at the moment. I'm not surprised about the condition of the coin. None of the Queen Elizabeth II sovereigns have ever been in circulation; they were minted as bullion coins. Enjoy your nascent collection! Later, John
I think what contributed to the good price is that the seller is from Canada and only showed shipping costs to send the coin within Canada. Shipping charges to the US and abroad were not mentioned so I'm sure the US market got turned away from the coin for that sole reason. Better for me though
This migt give you a idea, you can look up individual coins prices in £ and $ http://www.goldsovereigns.co.uk/forsale.html
