Sovereign is a sought after gold investment all over the world and is recognised almost everywhere and was even mentioned in a James Bond film when Q gives 007 a sovereign for this very reason. It’s issued as a type of insurance for Bond, should everything else be destroyed, he would still have a sovereign to barter with.
If you have sovereigns you are thinking about selling then now wouldn’t be a bad time as gold prices have risen slightly, today’s spot price per ounce is just over $1,347USD. A couple of days ago it was only achieving $1,333USD per oz. although it is possible prices will rise further still.
Long term predictions are for gold prices to excel due to diminishing gold supplies. However you may be looking to cash in before then, and depending on how much you paid for your sovereigns, today may see a healthy profit for you.
Right now you may find average buy back prices are around the £200 mark, however if you have a particularly sought after gold coin, normally graded on year of issue, design and condition then you may be able to get more.
Keep in mind that gold price is affected by world economy and politics. So for example the recent increase in gold price is likely to be caused by the economic data released from the US that was less positive than expected and add to that their woes about the shut down and reaching the debt ceiling. Although the shutdown has been lifted and debt ceiling raised the measures are only temporary and as one of the largest economies in the world it may have an effect across the globe.
Analysts are also concerned about the coming inflation. The questions raised are about whether the world economy will stand up to inflation while it is still relatively fragile after the limited recovery after the recession and depression after the banking crisis.
Gold Price Predicted to Rise
So with your question, to sell or not to sell, then you need to first look at your motivation. Do you need to sell, are you looking to free up some capital? Where you looking for a bigger return than the prices offered today? If you are happy to keep your coins for the foreseeable future then it is predicted that over time the value will continue to rise, and how can it not when gold is a natural resource and as that it has a finite supply.
You may also want to think about adding to your investment if you considering long term gains. There are many other bars and coins, and you could even add silver to your investment portfolio. Just like gold, silver has a finite supply estimated to end in 2037 and perhaps a greater demand. The industrial world is a big consumer of silver and as the less expensive precious metal, it is recycled less often in comparison to its richer cousin gold. To look at the options available to you visit coininvest.com