Best Gold Sovereigns

Where can I buy Sovereigns ?

: King William IV Sovereign

Where to Buy Sovereigns?

The best place to buy of course is ebay

However there are a couple of snags to look for there :

Fake coins - usually entered as a single item by a vendor with no previous feedback (or feedback for a few items sold for a dollar or so each)

Con Tricks - usually with similar low or no feedbacks selling rare coins at knockdown prices. One more sign of a dodgy deal is that they almost always want payment by Western Union or another instant money transfer system, - DO NOT DO THIS !

The other bad sign is a Private sale - beware of private sales

(some may be OK - but I would hesitate before bidding myself !)

Private sales do protect your identitiy

(but sometimes the vendors identitiy too !)

Gold Bullion sales are usually fine and so are reasonably prices sovereigns.

Coin Stores - here you are pitting your wits against an experienced dealer (who is trying to get the best price)

Try to spot the undervalued items in his/her range and the way to do this is by RESEARCH. Rarer coins with a low mintage is where your best bet is to be found.

Most dealers stick to common easily saleable coins and may not be as familiar with minor countries or rare mintmarks from other countries.

No single dealer is an expert in all coins of the World ( If they are then they are usually running a coin grading service)

Fleamarkets : another possibly problesome area - I have often seen fakes and copies in fleamarkets (especially in major European Cities with a high turnover of tourists Berlin and Paris are notable and a very high number of fakes can be seen in the coin stores of Dubai)

Bullion Traders (may also be large coin dealers)

May also have Gold Proof Sovereigns or £5 Pieces

Tend to be wary of people with large amounts of cash and are often wary of money launderers. Normally only deal in Gold Bullion including sovereigns,gold Eagles,Kruger Rands and Australian and Canadian Gold coins.You may need to open an account with them.

Bullion Dealers often also offer secure storage for purchases in their own safety deposit or vaults

Normally only deal in substantial orders and are not often interested in single sales.

Banks: best for buying single sovereigns and other gold coins. It is normal to do over the counter sales of gold coins on demand in many European countries especially Switzerland Luxembourg,Lichtenstine,Austria,France Germany

Auctions : An area where it IS possible to find huge bargains.

It is also possible to be ripped off !

Most auctioneers have a working knowledge of major common gold coins (but remember that almost ALL auctioneers are often selling coins they have bought in themselves too !)

They usually do NOT have an extensive knowledge of rare or mis-strikes.

Many auctions are now automatically posted to the internet and its worth subscribing to their lists.

Nothing beats going to an auction the day before with a list of interesting coins and valuations - and a personal inspection with a magnifying glass !

Many coins in minor auctions are ungraded or may be graded wrongly so look for pro grading service encapsulate coins for certainty - but do not dismiss everything else as those are the items where you may get bargains

Beware of Action Rings where crooks fleece unwary country investors with over-priced gold coins - these often have SHILLS (fake bidders) bidding against the public to build up the prices).

I have seen these in action three times in England !

Pawnbrokers : great source - always want to get a quick turnover on their investment but do tend to know the value of gold coins. Rare coins may be found infrequently - sovereign rings and bracelets/necklaces are often found in pawnbrokers.Aim to pay 30 to 50% of retail prices or less.

Remember that mounted sovereigns are not worth as much as unmounted ones.

Private vendors :

This is where you definitely get bargains and where most dealers buy.

A small ad in a local paper will always get dozens of replies and a lot of common coins and medals - but not always !

Sometimes there will be great deals.

A Estate Sale will generally offer huge opportunities but I caution against offer a low price for good quality coins - offer a FAIR price and they will tell their friends - I always used to leave a large visiting card with my mobile phone number offering to buy coin collections.

In almost any coin collection (by an adult) there will be some choice items.Ignore the dross and make your offer on the choice items only.

WARNINGS !

Always meet prospective vendors in a cafe or family restaurant - never in pubs or bars (unless you like being beaten up in a back room ! - it happened to two friends of mine) Equally never meet in a disreputable district - their friends may be waiting nearby or even inside the house.

Do not carry large amounts of cash - either pay by cheque or get cash from an atm and go back to the coffee bar.

If you think the coins may be stolen then avoid them or risk being caught by the police for handling stolen property.

Things to watch out for Fake Gold Coins from China or the Lebanon.

Lebanese made sovereigns are often made of 9 carat gold and are fakes of rare dated coins.

Chinese gold coins may well be gold plated silver or other metals.

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