If you’re looking to sell your gold sovereigns, there are a few things you should know before you press ahead. We’ve listed the key points and questions below.
You might have a few gold sovereigns in your possession. If so, it’s likely they’re not adding much to your lifestyle. However, selling them for extra money could help out a whole lot. Below, we’ll cover all you need to know and all the frequently asked questions people generally have before they sell gold sovereigns.
Before you sell your gold sovereigns, you should know exactly what they are and why we are willing to buy gold sovereigns from you.
The English gold sovereign was a real gold coin first issued in 1489. We get the name from the fact that the large coin had a portrait of the monarch (King Henry VII), sitting on his throne. The inverse of the coin showed the Royal Arms of England and a Tudor double rose.
The very first sovereigns were 23-carat gold. King Henry VIII subsequently lessened the gold content of the sovereigns to 22 carats. The coin’s weight continued to reduce until 1604, when the gold sovereign was last minted.
A number of gold sovereign coins are still in circulation among collectors. Depending on which coins you have possession of, they will depict different members of the royal family. Some are rarer than others and are therefore worth more to collectors. If you happen to have a gold sovereign coin depicting Edward VIII, who quickly abdicated the throne, you might have in your possession a coin worth £500,000!
On the other hand, you might think you have a gold sovereign when it is, in fact, a forgery. Fake sovereign coins have been produced, but you can always find an expert that will help you determine whether you’ve got a real sovereign on your hands.
The answer to this is fairly simple. If you are in possession of gold sovereign coins and you don’t get much enjoyment out of them, it is best to sell. If you are a collector who is passionate about history, or if they are a family heirloom and you are sentimental about them, then it might be better to keep hold of them.
If you are on the fence and you are simply curious about how much money you might be entitled to, then you can contact a service such as Post My Gold that allows you to get cash for gold. Our experts will inspect your sovereigns and get back to you promptly with an amount we’re willing to pay. If you’re happy to proceed, you will receive quick payment. If not, then we will send you your gold back free of charge.
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. Other dealers are more willing to buy gold they have not sold themselves, but they will do so at a lower price, meaning you might get cheated out of your money.
You should always be aware of the “spread”. The spread refers to the difference of the price at which dealers sell their gold and the price at which they buy it. The bigger the spread, the more of a profit a dealer makes. It can be hard to know whether or not you are being quoted a fair price, especially when it comes to certain rare types of gold and rare coins, when the spread can be high.
Selling online can be a quick, effective and convenient way to sell your gold sovereign coins. You won’t have to deal with any sales tactics or intimidating dealers and you can organise it all in your own time.
Before you get started, you should try to moderate your expectations. Remember that not all gold sovereigns will be worth large amounts of money. You should also know that the condition of the coin will affect its value. If you want to sell gold online, you need to do your research and ensure your coins will be evaluated by an expert. The process usually involves sending your coins to where they can be inspected and weighed. You will then be quoted a price and you can decide whether or not to proceed. It’s as simple as that, and it’s easy to back out at any point, for any reason.
Remember that not every single cash for gold company will be reputable and honest. Before sending off your gold sovereign, you will want to ensure you are in safe hands. Always look for a company that offers insurance on your valuables, so if your coin goes missing in the post, you won’t be left out of pocket. Carefully check the website of any company you are considering and decide whether they will offer free returns on your gold sovereigns. You don’t want to be in the position where you feel you have to accept their cash offer.
Post My Gold is the UK’s number one cash for gold company because we take the greatest of care when it comes to your possessions, we offer an unbeatable price-match guarantee and we care about great customer service. We’re always looking for ways to make your journey easier and more pleasant. We offer free gold packs, pay for insurance and return any and all items if our customers aren’t happy with the price quoted. This is the very least you should be expecting from any reputable cash for gold site, so if you’re worried or if you don’t get a good feeling from a particular website, trust your instincts and look elsewhere.
If you want to sell platinum, palladium, silver or cash for gold, get in touch with our team today. Our experts will answer any questions you might have and we will get you a fair quote within 24 hours of your enquiry.