Gold Sale! - Who was still buying 20 years ago?

[AuricGoldfinger]

https://apple.news/ATunUp-DxTd2ZQqMY7mWXvA

[HighlandTiger]

20 years ago Sovereigns were under £40, if you could find them.

I can remember going round stamp and coin fairs, and I cant ever remember seeing a sovereign for sale. Never saw any in a jewellers either. No internet to buy from either. Maybe they weren't on my radar, so I didn't see them, but holding gold coins was not something I would ever consider at that time.

Hindsight is a great thing, but if id managed to find gold sovereigns for sale, and bought those instead of the stamps, trading cards, signed memorabilia and collectables I did buy, instead of breaking even at best, I'd probably be sitting on a £100k+ profit by today.  

[AuricGoldfinger]

20 years ago i was still in primary school. The only gold coins i was aware of were chocolate ones!

But yes hindsight is a great thing and I’m hoping to look back in 20 years and feel i made the right decisions...But who knows i may wish i bought a terrible ton of Bitcoin lol

[Murph]

Really £40?  I wasn’t actively buying or selling then but over 30 years ago I paid between £50 and £100 for the few I had depending on the age etc, and I seem to remember selling locally to jewellers for nearer £50.

The lack of dealers and the internet made it easier for travelling dealers at the odd antique fair to overcharge.

 

Maybe you didn’t see them for sale because dealers didn’t tend to leave them out on show although I seem to recall Hiram Brown showing me what looked, to my young eyes, like a huge stack  once when he was at a local antique (and coin) fair.  I can’t recall if he just kept them in his pocket or in a case but they certainly weren’t on show.

[HighlandTiger]

23 minutes ago, Murph said:

Really £40?  I wasn’t actively buying or selling then but over 30 years ago I paid between £50 and £100 for the few I had depending on the age etc, and I seem to remember selling locally to jewellers for nearer £50.

The lack of dealers and the internet made it easier for travelling dealers at the odd antique fair to overcharge.

 

Maybe you didn’t see them for sale because dealers didn’t tend to leave them out on show although I seem to recall Hiram Brown showing me what looked, to my young eyes, like a huge stack  once when he was at a local antique (and coin) fair.  I can’t recall if he just kept them in his pocket or in a case but they certainly weren’t on show.

You are probably right about the price, like I said, I don't ever remember seeing them for sale. Although if we go back far enough we could have got them for a quid. 

Should have taken Fraser's advice when I first watched the  Dad's Army episode with the sovereigns.

[sovereignsteve]

£60 sticks in my mind for the lowest I remember them.

[ilovesilverireallydo]

Not sovs but my dad had come into a bit of a windfall, not much. He got 4 22ct bracelets made, one for him and one each for me and my sibling. They are 20 grams each and safely locked away. I believe he paid £45 a gram 

[Pipers]

They were going for about £70 including VAT at Auction.  Gold in general was more expensive compared to spot than now.  Silver no on was buying apart from collectors coin if i remember right.  

No one bought at Browns bottom price, I know i tried my hardest i even went into my bank and ordered gold only to be told a week later no way.  

[sixgun]

6 hours ago, AuricGoldfinger said:

https://apple.news/ATunUp-DxTd2ZQqMY7mWXvA

The sale of gold was to manipulate the price and get Goldman Sachs off the hook.

Here is a quote from Eddie George about the time he was the Governor of the Bank of England.

https://www.azquotes.com/quote/709888

Quote

We looked into the abyss if the gold price rose further. A further rise would have taken down one or several trading houses, which might have taken down all the rest in their wake. Therefore at any price, at any cost, the central banks had to quell the gold price, manage it. It was very difficult to get the gold price under control but we have now succeeded. The US Fed was very active in getting the gold price down. So was the U.K.

Eddie George

The people's gold was sold at stupid prices to bail out a criminal bank. As the article quoted says, the central banks had sold off gold in a random fashion to suppress price. Much of that gold is gone now and so they have to do this through the paper markets. Some members of the forum do not believe the gold price is manipulated. Of course it is manipulated - whether that is for profit or not - it is manipulated.

Keep stacking - hold on tight. It may be this year, it may be next - it may be in five years but there will be a reset in price. When the West cannot supply gold to China, then China has no reason to allow the low gold price and every reason to reset the price much higher. The Golden Rule - He who has the gold makes the rules.

[Stuntman]

I used to be a bit of an athlete.  Between 2003 and 2006 I won 5 gold sovereigns, which were the first prize in two 10km road races I used to do.  I won one of the races four times and the other race once (it tended to attract a much better field, sadly!)  Once the gold price started to rise, the sponsors no longer offered a sovereign as first prize!  I still have the coins 😋

[AuricGoldfinger]

Well done stuntman!

[DarkChameleon]

I was....and still am...but you'll never see the stack on here for safety reasons...my safety...lol.

[AuricGoldfinger]

Haha @DarkChameleon that’s fair enough! Have you ever sold and cashed in on the peaks or have you always just stacked?

[DarkChameleon]

16 minutes ago, AuricGoldfinger said:

Haha @DarkChameleon that’s fair enough! Have you ever sold and cashed in on the peaks or have you always just stacked?

The offer I have out there right now of 20 eagles for one of my sovs is the first I have ever offered for sale, I have been saving sovs for over 30 years.

[AuricGoldfinger]

Thats good going, thats what i will probably do to be honest, just hold and hold, ride the highs and the lows and in 30 years hope its worth a lot more than i paid for it