I recently inherited this gold sovereign. I was wondering if it would be worth while sending to a TPG.
Now this is what I would do myself. I would set it aside in a temporary holder and then get some more Sovereigns of different years and then decide if it is worth sending in. But I would also say to you that why not. Go for it. Good to have something like that graded for whatever reason.
My collection is basically all US coins, so it doesn't really fit. But it is a beautiful coin when viewed in person. I guess what I wanted to know is if the resale value between raw and graded is a big enough difference to justify sending it in. I'd grade it as an MS 62...
That is a difficult question. I guess to solve that, you would need to know the amount of gold in the Sovereign if there is any. And then determine the weight of the gold. Then take the current price of gold and convert it into Pounds as a UK estimated price. Basically, maybe do not send it. But if you want to, go ahead.
Sending in it by itself is a dicey proposition because of the cost of grading, postage, insurance, etc. I've always heard that the rule of thumb is that you should wait until you're sending in at least 10 coins so that the costs can be spread over all the coins. It doesn't make it cheaper, just cheaper per piece. My local coin dealer takes submissions from his clients and sends them all in together. Whatever small markup he adds to the process for himself is nothing compared to the savings associated with making a large submission. If your a member of a club or have a dealer like mine nearby, it might be worth looking into.
Unless you have a coin that you are sure is going to be a commendable grade, I'd pass on having it TPG'd.
I appreciate everyone's input and knowledge. I think I'll take it to my favorite LCS on Monday and have it looked at. I have five Morgan dollars that I was going to send into PCGS soon, so I may piggyback this one along.
Nice pic! I had looked the coin over for Authentic, but the color was just off. I could see some hints of Gold coloring. Thanks.
The later sovs are just bullion coins, they trade at a very small premium of melt in Britain which means that not only are they easy to find from dealers like http://www.goldline.co.uk/ but pretty well all examples are in nice uncirculated condition because they have never had any read reason to come out of the original packaging, let alone be passed around from pocket to pocket. Possibly for the US market grading may be worth the cost, but be aware that pretty well all examples that are graded will have high MS numbers due to the non-circulating nature of the coins. I'd say don't do it. It's really just a chunk of 22 carat bullion in a handy size and value.
Well maybe I'll just upgrade to a nicer case for display and enjoy it as is. Thank you for the input.
Although gold sovereigns are bullion coins now, they have been used in the past by British secret agents operating in various parts of the world.
I would say that it is most unlikely you would recover the cost of having it graded. All modern sovereigns are essentially nothing but bullion. They have never seen circulation and so should all be mint state. 1958 us a common date: I have several of them which I bought purely for their bullion value and yours looks no different from any of mine. As I write this the melt value is $290. The catalog value based on Numismaster online is BV for XF and $425 for UNC. I wouldn't give much credence to that UNC price. I bought mine several years ago from APMEX at about 5% above spot and, as I say, they look about as good as yours.
It's a nice bit of bullion, but I wouldn't bother grading it. It's a lovely way to hoard bullion but it's not a 'collectible' in that grade IMO.
Unless you are planning on a registry set, I wouldn't have it graded. Even then you should try for a higher grade. 1958s are common.
I ended up selling it over the weekend at a show. The funds will help fuel my Morgan dollar addiction.
