Hello #silvergoldstackers,
I recently bought a box of old coins at a garage sale for $5. When I took it home and went through the contents, I was shocked to find a gold coin dated 1871.
I took it to a gold buyer down the road who said it was indeed gold and had a value of $300 (AUD). It weighs approx 5 grams.
Another Hive member advised it was a soveriegn and suggested I should seek the #silvergoldstackers community for adivce.
I looked at some other examples on the internet and my one is not in as good condition. The face on the queen is missing detail.
As I've never bought or sold real gold before, or owned any precious metal coins, I was hoping one of you would know:
- What kind of coin is this exactly?
- How much is it worth?
- Would it be difficult to find a buyer?
- What's the best way to go about selling it?
- Should I sell it or do these things appreciate in value over time?
Any other info or advice about the coin would also be greatly appreciated.
Thanks,
Chris.
Wow, you will never know what can be found in those boxes! Seems that you found gold!
Half sovereigns should weigh 3.99grams and are 22ct gold.
What you have here is what is called a shield back half sovereign.
They are easy to sell as gold but some do hold a premium but to be fair this looks a bit worn.
On the reverse at the bottom should be a mint mark
S for Sydney
M for Melbourne
If no mint mark could be British
Thanks mate. I was hoping I had found some prized ancient artifact (:
Sweet coin man, what a find!! I would keep it if you don't have to sell it but if you do I would imagine you would only get the gold value as that coin looks pretty worn.
You have 3.6 grams of gold there and at current gold price of ~$60(usd)/gram, that's a pretty decent return on your $5 investment :)
Read again buddy 1 line up
Thank you, I've decided to hang on to it. It might come in handy some day.
It is a gold sovereign and in the condition it is in is only gold value. It’s nearly a quarter of an ounce of gold. I don’t know the currency conversion between Australia and the US but they sell for $300 here. If you do want to sell it my suggestion is eBay over a gold place they rob you. Good luck and great find.
Go to a gold shop and ask for a payment a little below spot. The gold price now is perfect to do that.
In Australia there is a good secondary market at www.silverstackers.com where you might find a buyer that will do better than spot.
The coin does look pretty worn so "melt value" is probably all you're looking at.
Congrats on picking up an outstanding bargain
Thanks mate. I got really excited and thought I found some super valuable coin, but ill still take the Gold (: