sovs and math help (spot and premium)

[AlL]

hey guys, I don't want to overcomplicate things, this could go either way, you would all lough at how stupid I'm or it might be very interesting for many of us (specially the newbie, like me)... to know how you all go about this... I was just thinking about gold SPOT price and SOVs prices and PREMIUM.

Am I right, in this excel calculation:     Sov price - (Spot x 7,98) : (Spot x 7,98) x 100  = PREMIUM

if we take the crazy B&H price of last week £224 and a SPOT of £33.22 Gold price a gr.
224 - (33.22 x 7,98) : (33.22 x 7,98) x 100
224 - (265)               :  (265)                x 100
 -36                            :  (265)                x 100 =  -15.5%  

at 224 we bought (estimated +/-) B&H sovs at minus -15.5% Premium? 
at 249 we are still under Spot Price by 6+%... right?

DO YOU THINK ABOUT THE 22c or 24c AT ANY POINT?  
Or how do you think/calculate PREMIUM?  Is there any app or page that might do this much easier...? Thank you all.

 

 

[richatthecroft]

5 minutes ago, AlL said:

DO YOU THINK ABOUT THE 22c or 24c AT ANY POINT?  
Or how do you do it or is there any app or page that might do this much easier... Thank you all.

The actual Gold content or ‘fine weight’ of a Sovereign is 7.32g- use this figure in your sums. 

[ilovesilverireallydo]

Gold content is 7.3224 per sov. At 33.22 you get value of £243.25

 

[AlL]

1 minute ago, richatthecroft said:

The actual Gold content or ‘fine weight’ of a Sovereign is 7.32g- use this figure in your sums. 

Thank you for that... 

[jultorsk]

There are some "melt value calculators" that I've found somewhat useful; take a look at e.g., https://www.ngccoin.com/price-guide/coin-melt-values.aspx?MeltCategoryID=3&BaseMetal=World-Gold-Coin (US$ only, but easy enough to make the conversion on google) or https://www.australian-coins.com/gold-coin-values/world-gold-coin-values.htm# (this one allows you to choose also GBP for currency). 😊  

[AlL]

Just now, ilovesilverireallydo said:

Gold content is 7.3224 per sov. At 33.22 you get value of £243.25

true... so you both @ilovesilverireallydo and @richatthecroft think on sovs as 7,3224 and not as 7,98gm. Useful info. 

so if the offer is for a Sovs from 2015 for £250 do you calculate the Premium in 2,77% OVER SPOT or just £7 over spot? 

sorry for nagging you with this guys!

[ilovesilverireallydo]

I usually work in %ges 

typically I like to buy between 0-3% over

[AlL]

5 minutes ago, jultorsk said:

There are some "melt value calculators" that I've found somewhat useful; take a look at e.g., https://www.ngccoin.com/price-guide/coin-melt-values.aspx?MeltCategoryID=3&BaseMetal=World-Gold-Coin (US$ only, but easy enough to make the conversion on google) or https://www.australian-coins.com/gold-coin-values/world-gold-coin-values.htm# (this one allows you to choose also GBP for currency). 😊  

I also got this one, too.http://coinapps.com/gold/bullion/calculator/

[shawy2510]

Just X the spot price but .916 to give you the spot of 22ct, even 9ct I X Spot by .375 & that tells me what it is.

[Cornishfarmer]

2 hours ago, ilovesilverireallydo said:

Gold content is 7.3224 per sov. At 33.22 you get value of £243.25

 

i must be working it wrong i have £224(sov cost) divide by 0.2354= £251.57    where have i gone wrong?

EDIT: SORRY THOUGHT YOU WERE WORKING OUT THE £224 SOVEREIGNS AT £243.25

[HawkHybrid]

9 minutes ago, Cornishfarmer said:

i must be working it wrong i have £224(sov cost) divide by 0.2354= £251.57    where have i gone wrong?

EDIT: SORRY THOUGHT YOU WERE WORKING OUT THE £224 SOVEREIGNS AT £243.25

 

£224 for 0.2354 toz of gold

£224 divide by 0.2354 = £951.57

ie you paid £951.57 per toz gold.

 

HH

[Cornishfarmer]

7 minutes ago, HawkHybrid said:

 

£224 for 0.2354 toz of gold

£224 divide by 0.2354 = £951.57

ie you paid £951.57 per toz gold.

 

HH

No I didn’t......... I didn’t buy😢😢😢😢😂😂😂

[AlL]

sorry for you @Cornishfarmer next time...

@HawkHybrid yes, but only if you calculate in tzo... I think, I'm the Kilo and grams guy!
@shawy2510 nice.

[HawkHybrid]

19 minutes ago, AlL said:

@HawkHybrid yes, but only if you calculate in tzo... I think, I'm the Kilo and grams guy!

 

change to troy ounce(toz) ?

it makes life much easier when you are comparing.

 

HH