Today I might be buying my first gold sovereign. A friend told me about an auction that has some sovereigns for sale. He suggested that quality is very important when buying old coins as collectables and suggested that I follow the on-line link to fill out a request for a quality report. I happily ticked the right boxes for 10 of them and got a telling off by the auction house. They suggested 5 reports maximum. I explained that I was a complete novice and needed the most collectable and the best condition and so they narrowed it down for me to two of the five.
The first is the oldest and only shield back coin in this sale. A Victorian coin 1863.
The 1896 Victorian coin is, I am advised, in the best condition.
This was very helpful and has given me a bit more confidence in the sell on value of my purchase. I am not sure how much added value the extra 33 years will give the earlier coin, or the fact that it is a shield back. Given that the guide prices in this auction are the same for both I would imagine that I should go for the better condition coin.
I had of course had visions, after reading my book on Gold Sovereigns by Michael A Marsh of starting my collection with a modest and fairly rare George IV sovereign. Needless to say that there are none in this auction. The coins are all common I think and so I have made my mind up to stay at the low end of the guide price of 200-250 pounds. Ha ha we shall see!
If I don’t end up at the auction at least watching the prices unfold at the end will give me an idea for future bidding.
This is all about getting started and gaining experience. And of course the fact that Jupiter, bringer of luck is in my sign right now!
Yours with sparkly bits