Gold Sovereigns

[Guest Motorhead_I'm_a_Guest]

Hi All, first time on the forum.My daughter has decided she wants to sell a set of sovereigns she was bought back in 1988.They are a two-pound,sovereign & half-sovereign set of 3 in individual protective cases presented in a blue, velvet lined case.With a certificate of authenticity no.05040.These coins have never been out of their protective cases & are in absolutly excellent condition, as is the case & certificate. I would greatful for any ideas on the saleable value. We are certain that this set did cost £500 back in 1988.

Many Thanks.

[Emperor Oli]

Only £425, there were 11,192 issued

[Sylvester]

Two reasons for a drop;

Firstly did you buy them from the mint? If so then the mint charges prices that are higher than those of the secondary market. Although at the time the secondary market would have been closer to the mints price. Cos when sets are new they are all the rage, kinda like new cars. 15 years or so down the line how much would you pay for a 1988 car now?

Second reason; the gold prices have dropped since the 1980s, the 1980s were a period when gold was a hot comodity, in the early 80s it was something like $800 per ounce, now it's more like $380 per ounce.

Thus as the gold has dropped to a low the bullion value has dropped. It'll probably go up again sometime in the next ten years, but it'll come down again.

[Sylvester]

One good thing is they are in good condition, still in their cases, still have the certificate and everything. That's good.

[Guest Motorhead]

Thanks people,thats atleast given us an insight as to the value.I guess we'll keep hold of them for a while.

Many Thanks.

[Chris Perkins]

I really want to add something about the value of modern proof sets/coins, but I won't!

Great name "Motorhead". Lemmy was in Germany recently, a friend of my girlfriend went to a gig.

My mate Scott once bumped into him in some Rock club, he was playing on a fruit machine!

[Sylvester]

Thanks people,thats atleast given us an insight as to the value.I guess we'll keep hold of them for a while.

Many Thanks.

It's probably a good thing to do, if we ever go over to the euro any time soon for instance then that might alter things. Cos they might stop minting sovereigns.

Nothing in the future is certain, the price may drop further, but it'll go up again eventually because that's what gold and silver do, rise, fall, rise, fall.

A few months back gold had risen in price, it's falling now.

[Emperor Oli]

The price of gold is acutally rising and it's the highest price for sixteen years

BBC, third paragraph

[Sylvester]

I still advise to hold. The coin market is slowing down and the bottom will drop out of it shortly.

If what i read on RCC is correct, gold is static, the paper assets are going down. (which makes it look like gold's going up...)

Personally i hold onto the coins... for a while.