A quick question about past gold prices

[Foster88]

So whilst sitting with my partner and discussing gold in general and sovereigns of which I have a few. 

It got me wondering what a sovereign would have cost in GBP ten years ago in 2010 and also twenty years ago in 2000. I can find the historical gold prices per oz for 24ct but working out the rough cost of what a sovereign being 22ct would have cost then, I’m struggling with. 

Can anyone advise or even better tell me?

My sovereign collecting only started in 2018 (wish I’d started earlier) but don’t we all.

Thanks in advance and this is purely out of curiosity.

[JunkBond]

0.2354 x the gold price per troy ounce at the time then add about 3% premium.

[goldking]

13 minutes ago, Foster88 said:

So whilst sitting with my partner and discussing gold in general and sovereigns of which I have a few. 

It got me wondering what a sovereign would have cost in GBP ten years ago in 2010 and also twenty years ago in 2000. I can find the historical gold prices per oz for 24ct but working out the rough cost of what a sovereign being 22ct would have cost then, I’m struggling with. 

Can anyone advise or even better tell me?

My soverign collecting only started in 2018 (wish I’d started earlier) but don’t we all.

Thanks in advance and this is purely out of curiosity.

 

End January 2020 : £282 at spot price.

End January 2010 : £158 at spot price.

End January 2000 : £41 at spot price.

[Tn21]

Daaaaaaaaaaammmmmmmm. 

[goldking]

Sovereign used to be £1 sterling !  

[JunkBond]

£24 the year I started work. 😂

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Added 0 minutes later...

But I was only earning £37pw iirc. 🙄

[MancunianStacker]

1 minute ago, goldking said:

Sovereign used to be £1 sterling !  

That’s inflation for you. Also wasn’t a Pound (£1) originally a Pound if Silver??? 16:1 ratio. 

[Provvidenza]

I bought full and half sovereigns in 2000 & 2001, direct from the royal mint (the first time they started selling bullion versions) at approx £60 and £30 each respectively. I later sold them and doubled my money.

[Foster88]

2 hours ago, Provvidenza said:

I bought full and half sovereigns in 2000 & 2001, direct from the royal mint (the first time they started selling bullion versions) at approx £60 and £30 each respectively. I later sold them and doubled my money.

Bloody hell. I wish I was buying them then, but then again I was still in high school.

I had no idea they were so cheap then compared to today.

[Foster88]

4 hours ago, goldking said:

 

End January 2020 : £282 at spot price.

End January 2010 : £158 at spot price.

End January 2000 : £41 at spot price.

Wow!!

thats interesting, thanks for that information.

Now if you could just get your crystal ball out and tell me what it will be worth in 2030 and 2040. Ha ha!!

Just kidding.

Thanks again for that information, I had no idea they were so cheap in 2000 but then again they will seem cheap compared to today’s prices.

[goldking]

5 minutes ago, Foster88 said:

 

Now if you could just get your crystal ball out and tell me what it will be worth in 2030 and 2040. Ha ha!!

 

TO THE MOON!  Obviously!  

[StackemHigh]

I didn't record dates until later but my first proof sovereigns cost £70. A far cry from the latest sotd rubbish royal mint output.

[InvestInCoins888]

I think this underlines why the rich of this world stick their money into precious metals! 

[motorbikez]

My 1st sov when I was a lad £27.50  Oct 1976

[InvestInCoins888]

Somebody needs to do the maths and compare against inflation...

[Robda1986]

2 minutes ago, InvestInCoins888 said:

Somebody needs to do the maths and compare against inflation...

Fredo bar 

[InvestInCoins888]

Average new house price

1980 27k

1990 69k

2000 £89k

2010  168k

2019  246k

 

Source Nationwide 

[Safestacker]

We can only hope then in 10 years they are worth far more - going by those historical prices. Maybe £400 per coin ....