1989 Gold Sovereign

[Seasider]

Looking at an auction at the weekend I saw that this sovereign was a lot more expensive (valuable?) than the normal ones or even than the other unique designs like 2002, 2005 and 2012.  I know it has a low mintage but what makes it so special?  It seems to be out of line even with other sizes of the same year (a half sovereign is much less than half the price).  Does anyone know why?

Thanks

[Kman]

The design is just really nice, I think that's the main reason. 

[KDave]

I think you nailed it - its low mintage because its Proof only I think, unlike the other designs you mention which are also available as bullion. 

Its also the 500 anniversary of the sovereign so the half, double and quintuple will never be as special as the sovereign version.

[Seasider]

Thanks both.

That last point had never occurred to me but it makes a certain sense.  The half and double are also low mintages which had me doubting that as an explanation.  

It certainly is a nice design.  I only wish I had bought one back in the day when it was a quarter of the price.

[sovereignsteve]

Pretty much covered already, the main point being it's a major anniversary release and in the style of the original. Also, only proof released so any sovereign collector must have one and only 10.5k mintage.

I think the main reason that the full sovereign is in so much more demand than the other versions is that a lot more people collect this size.

[Seasider]

Yes I guess that is pretty much borne out by another auction listing I saw where a 1937 sovereign is guided at £1200 to £1500 and the half at £300 to £400.  OK the full one is slabbed.

[garthy]

The original tudor rose was much the same size and weight as the double 1989 reissue.

As it goes for around the same price as the full I'd definitely go for the double, love the design but I just can't justify the price.

[sovereignsteve]

Yes the double is lovely. I had to have a single in a case for the collection but I will try and get a loose double sometime just for the sheer size of it.

I did have a three coin set but sold it a while ago.

[Seasider]

Yes.  That is what I could not get my head around.  You can get twice as much gold for much the same price or two halves for less than the price of a full one.  But I guess if you have a sovereign display case neither the half nor the double is going to fit.  Of course if it comes in a box would that not be the same size as the box holding a normal sovereign?

@sovereignsteve - why would you want a loose coin?  Have you been reading the same page of Chards as me - where he says that gram for gram the certificate is more expensive than the coin?

[sovereignsteve]

5 hours ago, Seasider said:

@sovereignsteve - why would you want a loose coin?  Have you been reading the same page of Chards as me - where he says that gram for gram the certificate is more expensive than the coin?

For the very reason that @garthy states above. You can get them for less than a boxed full sov and they're an awesome coin in hand. The design really stands out in this size.

I wouldn't worry too much about the coa aspect; one with coa isn't much more than one without. I doubt there are many collectors of double proof sovs insisting on box and coa.

I've seen the Chards article you mention and yes, due to the low weight of a coa, in some cases, it really is worth more than the coin gram for gram.

 

[Guest]

Yes the double is lovely. I had to have a single in a case for the collection but I will try and get a loose double sometime just for the sheer size of it.

I did have a three coin set but sold it a while ago.

The double is my favorite and the only one of the 3 coin set I kept


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[Seasider]

Well for those of you who might want to chop it up and possibly get the double as a bargain, there is a four coin set for auction on 5 October (estimate £2,500 to £3,000)   OK there is buyers premium to add but I have seen the £5 coin on its own (in a box etc) advertised for over £2,000.

[Seasider]

At the risk of advertising there is a 1989 Double Sovereign coming up for auction on 13 October.  It is lot 35 at Duke's auction. I have no connection to either the auction house or the coin being sold.  The estimate is quite wide £500 to £1000.

 

Lot 38 in the same auction is another nice looking coin a Mohur 1841 with a Lion in front of a palm tree.  Again well out of my price range.