Was planning to keep, now have to sell... sovereigns... how?

[Gsol]

Hi everyone,

I've bought my coins (only gold and silver) over the years intending to keep them really long term, but a decision to buy a house means I need to sell about 12 or 13 of my sovereigns to top up my deposit. 

I have never actually sold any coins before and it seems like a mystery on how to decide a price/value when the market keeps changing. Do you just guess? Do you wait for offers? 

The years I would like to sell are:

1887
1894 (x2)
1903
1909
1911
1914
1915
1957
1958
1967
1968
2006

Should I see what other people are selling for and advertise just below that? Some of them I cannot find a value for, like 1957. 

Can anyone advise please? 

Thanks,

G

[Clens92]

Unless these are in exceptional condition, they will mostly be viewed as bullion.  If you want a hassle-free sale, from a reputable dealer, I would suggest sending them all to Hatton Garden Metals.  You'll get 98% of Spot Price for them, and they pay via BACS within a few hours of receiving them.

Also consider:  eBay sales lose 14% to fees.  Sales on here are great, but everyone knows the prices to the penny and you might find it a hassle to sell multiple sovereigns to multiple buyers.  There is also the question of trust in you as a new member - not a dig, just a fact of life... new sellers tend to struggle to sell high-value items on here.

 

Whatever you do, don't sell to your local pawn shop or Cash4Gold... they will always rip you off.

[BackyardBullion]

about 1 year ago I sold a bullion grade sovereign via these guys - very slick service. I haven't checked their prices yet but they gave me 98% spot at the time.

http://www.gold-traders.co.uk/

[sixgun]

First off - you should put up photos of your coins. People want to see the coins.

Some people put a name/dated slip of paper in each shot and then we know it isn't taken from a google image search. 

[Gsol]

Thank you, all good suggestions and most I hadn't thought of!

I think I am going to have to rethink my strategy. Those companies look good if I am desperate, but I have a few weeks to sell them so will try advertising them before dropping below the spot value. Sometimes ebay do their discounted final value fees so I hoped I catch a decent one. 

Is this the type of photo I should take? I haven't taken them out of their plastic sleeves in 8 years. 

[sixgun]

i would do close up's of the coins both sides - 

[Paul]

Selling via ebay you risk the possible chargebacks through paypal

gold sales are not covered in paypals T&C's - selling on ebay ball is always in the BUYERS court not the seller 

You could lose your sovereign(s) AND your paypal funds

For the sake of a few quid and the times and efforts unload them to HGM, Chard, bullionbypost, Atkinsons in bulk you have it done in minutes

All of the above dealers also offer 'over counter' purchase so you dont have to risk sending through the post 

or offer them here at spot to 2% above spot

[Gsol]

7 minutes ago, Paul said:

or offer them here at spot to 2% above spot

!! only just found this section on the forum after you posted this! Have only ever been in the gold and silver sections 

[Pete]

6 hours ago, Gsol said:

Hi everyone,

I've bought my coins (only gold and silver) over the years intending to keep them really long term, but a decision to buy a house means I need to sell about 12 or 13 of my sovereigns to top up my deposit. 

I have never actually sold any coins before and it seems like a mystery on how to decide a price/value when the market keeps changing. Do you just guess? Do you wait for offers? 

The years I would like to sell are:

1887
1894 (x2)
1903
1909
1911
1914
1915
1957
1958
1967
1968
2006

Should I see what other people are selling for and advertise just below that? Some of them I cannot find a value for, like 1957. 

Can anyone advise please? 

Thanks,

G

The fastest and possibly one of the simplest methods is to send your coins to HGM by Special Delivery.
They will receive the next morning and by lunchtime you will probably have the cash in your bank account.

Their buy price is usually 98% of London a.m. fix ( not spot which fluctuates more rapidly)  so 10 full sovereigns would earn you £2288 (  I keyed in 10 sovs on their website ).
I checked at the same time their buy price of a sovereign and it was £240.53

A full sovereign contains 7.3224 of fine gold so if spot is £31.687 / gm that values the gold at £232.

Buyers on this forum looking for bullion will always be able to buy at 2% or less of spot.

Sellers will be able to get 98% of spot or thereabouts.

If you want hassle free and maybe a fair price but better than HGM, Atkinsons, BullionbyPost etc then be prepared to sell at spot.