Sovereign, gold per ounce

[GrahamHantsHog]

i have just seen on Atkinsons, 4 pre owned sovereigns for £710, this must be one of the cheapest ways to buy an ounce of gold ?

[Scuzzle]

Sovereigns are 22ct so if you just take the pure gold weight of 7.315gms per coin it's just under a couple of grams short of a full troy ounce.

[Stu]

Or put another way, 4 sovs at 0.2354 oz each equals 0.9416 oz. Sovs are definitely a good buy regardless. 

[GrahamHantsHog]

Ah right, i like them all the same 

[morezone]

I make that a little over 7% based on £703 spot. It is more expensive that buying a single Brit or even a Lunar but it has the advantage of being fractional for marginally more.

[Pipers]

easy way is to times the price of the sovereign by 4.25.  

 

[goldbones]

2 hours ago, Pipers said:

easy way is to times the price of the sovereign by 4.25.  

 

Or multiply the £ spot price of gold by 0.2354 so you know what the spot price of a sovereign is to start with.

So right now gold is £706 x 0.2354= £166.19 <----sovereign spot price.

Its easier to see how much a sovereign margin over spot is that way because you can easily see that £1.66 is 1% so for instance say a sovereign is £176 well, its £10 over so: 10 /1.66= 6 so 6 percent over spot.

 

[GrahamHantsHog]

 My next gold will be a 1ounce brittania, the silver one is nice but it needs a wealthier brother !