The Gold Market in 2009

Transcription

1 18ct gold cigarette case, engine turned oblong form, with sapphire push button to clasp, inscribed name to cigarette stay inside, 187g. Hartleys, Ilkley. Jun 09. HP: 2,000. ABP: 2, ct gold cigarette box, oblong form, whole engine turned with Greek key borders, 3.75in wide, 182g, marked 56. Hartleys, Ilkley. Jun 09. HP: 1,500. ABP: 1,764. 9ct gold cigarette case, rounded oblong form with engine turned pattern, 198gm, 5.75in long. Hartleys, Ilkley. Dec 09. HP: 1,350. ABP: 1, ct three colour gold fringe necklace 17in, with matching bracelet, 7.25in, 78 grams. HP: 1,150. ABP: 1, ct gold necklace, graduated engine turned cylindrical links, 16.5in long, 74.2gms. Hartleys, Ilkley. Dec 09. HP: 940. ABP: 1, Engine turned 9ct gold cigarette case, 169 grams. Gorringes, Lewes. Sep 09. HP: 930. ABP: 1, ct gold flexible strap bracelet, engine turned with embossed border, 7in long, 72.7gms. Hartleys, Ilkley. Dec 09. HP: 900. ABP: 1, ct yellow gold rope and bar design necklace. Wellers 09. HP: 850. ABP: ct gold cigarette case, London 1934, all over engine turning, slide opening action, interior engraved with female head portrait and facsimile inscription Rene to Morris, with love 1937, 121g gross, 3.5 x 4in. Hartleys, Ilkley. Dec 09. HP: 850. ABP: Cartier engine turned 9ct gold compact, with diamond set thumbpiece and internal mirror, hallmarked for 1942, 2.75in, gross 101 grams. HP: 660. ABP: s engine turned 9ct gold cigarette case, 3.75in, 114 grams. Gorringes, Lewes. Jul 09. HP: 650. ABP: Engine turned 9ct gold cigarette case, 101 grams. HP: 620. ABP: 729. The Market in 2009 By John Ainsley On the morning of the 8th December BBC Breakfast included a short investigation into the scrap gold market. This wasn t news but rather the BBCs own idea about how they could make news out of the volatility in the precious metals market which has been hitting the headlines. In November scrap gold hit a record high of over a $1000 an ounce or about 700 in our money. We at Antiques Info keep up-to-date with scrap prices. Readers can find our latest report on page 4. Now with everything that the BBC does, there has to be an angle, so what were they up to this time? In this five minute sketch we weren t kept waiting for long. The angle turned out to be the old chestnut that our industry is not to be trusted. Firstly an expert appears in the studio and checks out the value of various items of gold that have all been weighed, we can only assume, together. No mention is made of the fact that a mixed lot of gold will probably contain items of different purities or carat weight with vastly different pro rata values. He tells us that a fair price for this small pot of gold is just under 300. The BBC of course has checked out the high street and leading website traders. For example H. Samuels is mentioned. And for the same pot of gold, and lo and behold (please forgive the fairy-tale terminology) their reporter was offered various prices between 60 and a 180. In two of these cases, when the offer was refused these traders almost doubled their offers. Their conclusive advice was, in the first place shop around, and in the second place never accept the first offer. Now I don t want to make too light of this Report although it is facile in the extreme. Certainly it will make people think carefully before parting with their gold without first checking out the market. At this point it is worth reminding readers of the companies that visit your local area and set up in a certain venue after a regional advertising campaign, which usually involves posters, possibly local advertising and certainly almost always leaflets through letterboxes. They pay instant cash for your precious metals and jewellery. Needless to say, if you take up their offer you are certainly not checking out the market although you may be able to make some small negotiation in terms of the cash you will accept. The problem is, without any market knowledge you will have no idea of the value of the commodities you are planning to trade, which of course does not bode well for you getting a fair price. To a small extent the BBC is right. At least check out the market and then be prepared to barter. However it is not that simple and if you do take their advice you could still come a cropper because, in a nutshell this is not very good advice in the first place! In fact the BBC are not in the business of giving investment advice but rather, in this sketch they are in the business of entertainment, which requires an angle and they are restricted by time. Given at least an hour they could have produced a far more accurate report, but then what about the angle? Here the problem was that the angle would be the exposure of the unfair trading practices of much of the industry. Now in the academic disciplines of philosophy and history we are warned of the dangers of what is known as the circular argument. That is we may begin our analysis, say of a certain historical dilemma, with a certain premise or theory. We then seek evidence in support of our theory and finally use this evidence to support the original premise, hence the circular argument. In the BBC example they have formulated a certain theory that they may be able to expose unfair trading practises and sure enough that was their overwhelming conclusion: much of the industry is not to be trusted! This is rubbish and their own concluding advice is full of holes. Say you took their advice, and in the example quoted, you got offers of say 60, 80 and a 120. Pleased with your enterprise you were then able to barter a better price of, say 180. According to the BBC you will have done all you need to protect yourself against unfair trading but according to my reckoning you are still the loser by about a 120! In fact the best advice is to check out the market first. For those without web access the BBC could help by extending their financial coverage on Ceefax to include daily average scrap prices of the various carats of gold and platinum and silver. This is available on the web on dozens of traders sites, and contrary to the BBC Report, most are offering fair prices. But, as I said in the beginning it is not that simple. At least some elementary knowledge is needed of hallmarking on precious metals and this may require the uninitiated to spend some time in study. In this respect I have provided a very basic guide to gold hallmarking on page 36. We are in the business of serious advice and we also provide the essential tools of the trade. You will also need a good magnifying glass of at least 6x or a jeweller s loupe. If you cannot tell the difference between silver and platinum or even between 9ct and 18ct gold then you are going to have to seek further advice. You can check out price differences on page 4. As I write I have gone to the web and searched on scrap gold prices. There are plenty of results and it takes only minutes to locate sites that actually publish their prices, which change by the day. For example were offering 8.19 per gram for 9ct, for 14ct, for 18ct and for 22ct.

2 They were also buying platinum at for 950 grade, which is the usual jewellery standard. The same website was offering 0.25 for silver. They host a Calculator, where you enter the metal and the appropriate carat grading and the weight in grams and you get an instant quote of how much this company will pay. I then checked They were offering a little less for gold but alternatively they were paying more for silver, but the point is that their prices were fair. We use in our precious metal analyses on page 4. I then checked This company also published their prices and provided an on-line calculator for gold, platinum and silver and their prices were fractionally better than I found that by going to websites that published their prices I soon began to establish that I was searching within what I might describe as the fair market with a price differential at the very most of about plus or minus 4%. I can conclude that it should be possible for anybody with web access to be able to establish a fair average price on the day for the various precious metals. I did not check out any small print so this study is not definitive but does suggest that most of the trade is dealing fairly and that the small differences noted are down, as one would expect to the individual trading profiles of the various companies, or in a single word the market! In contrast I checked out a website that didn t publish their prices. They are called They market their three steps to buying your gold. Firstly you complete their form with your details to include your telephone number and to request their jewellery return pack. You then send your gold/jewellery in their special delivery packet and you will receive a cheque on the next business day. Their Conditions explain that if you do not accept the payment offered then you must return the cheque or telephone them within twelve days. Yet again this is another example of how punters can be placed in a situation where they haven t checked out the market first. I am not saying this website offers unfair prices but they do not publish them and therefore if you use their services you cannot know whether or not the price you are being offered is fair. To be fair to the BBC their attempt to make news about a complex issue was doomed to failure in a five minute time slot, but should never have been attempted in the first place. I have spoken to several dealers who saw the programme and they are very angry indeed that the general integrity of our industry has yet again been exposed and questioned by an organisation that has the power and the arrogance to use unfair tactics whilst apparently exposing unfair trading practises. Even after several hours of study and setting out these pages I still haven't been able as yet get to grips with its complexity. The biggest question of all, still going begging in all of this is how on earth is the ordinary person in the street going to know that the gold that they are planning to scrap does not have a commercial and collector value well above scrap values? For the background to these pages I have used the auctions market for gold over the last twelve months or so and included about a 100 sales. Over the next several paragraphs I will be analysing this market to try and assist the reader in understanding the secondhand gold market as a whole and not just scrap values. There also follows information on basic gold hallmarks Heavy 9ct gold triple link neckchain. approx 105 gms. Great Western Auctions, Glasgow. Dec 08. HP: 540. ABP: Mappin and Webb engine turned 9ct gold cigarette case, 87 grams. Gorringes, Lewes. Mar 09. HP: 540. ABP: 635. The prices quoted are actual Hammer Prices (HP) followed by the Approximate Buyer s Price (ABP) which includes an average buyer s premium of 15% + VAT. 15 9ct gold charm bracelet, mounted with twenty three assorted charms, gross 53 grams. Gorringes, Lewes. Sep 09. HP: 300. ABP: ct gold Colibri cigarette lighter, with engine turned decoration, 2in, boxed. HP: 360. ABP: ct yellow gold twist rope necklace. Wellers 09. HP: 340. ABP: 399. Five 14ct gold bangles, two of twisted form, held with a bar, 38g. Hartleys, Ilkley. Dec 08. HP: 260. ABP: ct gold charm bracelet, curb links with padlock clasp and suspended with eight 9ct gold charms, 6.5in long, 75 grams. Dee, Atkinson & Harrison, Driffield. Sep 08. HP: 330. ABP: 388. Four gold wedding bands incl. one 18ct and two 22ct. Wellers Auctioneers, Chertsey. Jun 09. HP: 260. ABP: Hallmarked 9ct gold curb bracelet and a 9ct gold bangle, total wieght approx 77.2gms. Biddle & Webb, Birmingham. Dec 09. HP: 540. ABP: ct rose gold curblink charm bracelet, hung with twenty four assorted charms and a heart padlock, gross 52 gms. HP: 330. ABP: thC two colour gold thimble, with gem set foliate banding. Gorringes, Lewes. Jul 09. HP: 260. ABP: ct gold Colibri Tetra cigarette lighter, boxed. HP: 470. ABP: 552. Two tri colour 9ct gold necklaces with 2 x 9ct fold tri colour bracelets. Wellers 09. HP: 330. ABP: ct gold Colibri cigarette lighter, with lapis lazuli thumbpiece, 2.5in, boxed. HP: 250. ABP: ct gold wedding band, 8 grams, an 18ct signet ring, 10 grams, a 15ct signet ring, 5.5 grams and an unmarked wedding band, 11g. Gorringes, Lewes. Feb 09. HP: 400. ABP: ct gold cigarette case, 3.5in, 86 grams. Gorringes, Lewes. Sep 09. HP: 320. ABP: ct yellow gold gate bracelet with safety chain. Wellers 09. HP: 250. ABP: 294.

3 30 9ct gold charm bracelet, alternately textured curb links, chased padlock clasp and twenty two gold charms, 7.5in long, 38 grams. Dee Atkinson & Harrison, Driffield. Sep 09. HP: 240. ABP: Lady s hollow hinged bangle, approx 25mm wide, ornately patterned to one side, some dents, fitted with snap fastener & safety chain, 9ct gold h/m. (37.4g) A F Brock & Co Ltd, Stockport. Sep 09. HP: 240. ABP: Two 22ct gold wedding rings, 12.5 grams, an 18ct gold ring, 1.9 grams, a 9ct gold band and a small pendant, 3.5 grams. Gorringes, Lewes. Oct 09. HP: 220. ABP: 258. Antique belt bangle, approx 60 x 54mm, 11mm wide, buckle set with 8 half pearls and edged with blue enamelling, some slight dents, snap type fastener, tested 15ct gold. (21.4g) A F Brock & Co Ltd, Stockport. May 09. HP: 210. ABP: ct gold flattened and roundel link charm bracelet, set with twenty three assorted gold charms, gross 39 grams. HP: 210. ABP: ct gold albert, fancy rope link, with T bar and foliate chased locket, 12in long, 33g. Hartleys, Ilkley. Mar 09. HP: 200. ABP: ct gold curblink charm bracelet, hung with twenty five assorted charms, gross 22 grams. Gorringes, Lewes. Jul 09. HP: 200. ABP: ct rose gold necklace, fancy curb links, 19in long, 31.1grams. Dee Atkinson & Harrison, Driffield. Sep 09. HP: 200. ABP: ct gold bangle, of hinged plaited form, 13.5 grams. Dee, Atkinson & Harrison, Driffield. Nov 09. HP: 200. ABP: Alpine Garden Society 9ct gold medal, presented to Ingwersens Ltd, 29 grams. Gorringes, Lewes. May 09. HP: 170. ABP: Lady s antique hollow curb bracelet, approx 7.5in, fitted with clip-over fastener & safety chain, each link stamped 9ct gold. (24.3g) A F Brock & Co Ltd, Stockport. May 09. HP: 160. ABP: 188. Before analysing the hundred or so results in these pages let me try to at least equip the novice with some basic knowledge about gold marking so they will be able to make some sense of this study and also perhaps of any gold in their possession. Pure gold, or as near as we can get to it is about 99%. For practical purposes let us call this gold 100% which equates to 24 carat. This is not a measure of weight in itself but a measure of purity. For practical purposes, gold is more usually found in various grades, the more common being 22 carat, 18 carat, 14 carat and 9 carat. These numbers, or their millesimal equivalents are usually contained in the hallmark. The millesimal mark indicates the parts per thousand. Hence 9 carat equates to.375 or 375, 14 carat to 585, 18 carat to 750 or 22 carat to 916. Pure gold would equate to 1000 but in practice, 999. It follows therefore that 18 carat gold will be twice as valuable as 9 carat gold in respect of its bullion value and a check of our scrap value tables on page 4 will indicate this immediately. hallmarks will usually contain either the carat number or the millesimal mark or, for a certain period in the nineteenth and twentieth centuries, both marks may be present, for example Unfortunately some gold is unmarked and would have to be tested to ascertain its purity or carat weight. The very earliest mark on gold was the leopard s head crowned but this was replaced in 1544 with the lion passant. This finally disappeared in 1843 when it was superseded by a crown which had already been in use since 1798 on 18 carat. The crown remained in use until 1999 with the addition of a millesimal mark until the 1999 Hallmarking Act simplified the system. From that year the only mark present on English gold is a millesimal mark, being usually 916, 750, 585 or 375. The following analysis will now look at the gold market at auction in the last year or so in respect of personal accessories and jewellery. This will analyse both scrap and collector values. This will be followed by a look at the English gold coin market in the last year which may date back to coins of antiquity and this will be followed by an analysis of the krugerrand, which was first introduced in 1967 as the very first vehicle which facilitated the private ownership of gold for investment. Now for the analysis. Commencing at image 1, it is unusual to see an 18 carat gold cigarette case, and when this sold in June 2009 scrap stood at about a gram and this sold at about This suggests that this object has no additional value as a collector s piece and has sold at about its bullion value. Similarly the cigarette box at 2 has fetched about its scrap value. Incidentally, the 14 carat standard wasn t introduced until Now let us look at the 9 carat cigarette cases at 3, 6, 9, 11, 12 and 14. Here the arithmetic again shows that the value is in the gold and not in the objects themselves. The vendors at auctions of course would get up to 20% less after paying the premium, but these levels of prices, for objects in the main, now quite useless and out of fashion, is a good trade, and a healthy windfall to those now in ownership. I recall recently an elderly lady ringing up to enquire about a 9 carat gold cigarette case in her possession. None of her descendants were interested and she asked me if I thought it a good idea if she donated it to a charity shop. I asked her if she had a kitchen scales and she told me the approximate weight in ounces. I converted this to grams and informed her that her unwanted cigarette case was worth about 800! Quite rightly she changed her mind about gifting it to her local charity shop. To return to the analysis, I would have thought that the Cartier compact at 10 would have faired better but in the end it fetched no more than about 6% above the then scrap value. The four items of jewellery at 4, 5, 7 and 8, again, didn t perform much better than scrap values, except for the necklace and matching bracelet, which went over 17 a gram when scrap was about Note these are all 18 carat. I have continued to analyse the gold jewellery results on page 35 and this is much the same. The value, or market price for most gold jewellery at auction seems to be in the range of up to plus or minus 20% of the scrap value. In fact the five 14 carat gold bangles at 25 didn t seem to appeal at all, fetching about 2 a gram less than scrap. The gold thimble at 27 will be an exception. We are not told the weight, which is in any case irrelevant, but can t be more than two or three grams at most. These are highly collectible. This example is gem set and, at 305 would have been a bargain for a collector. It s antique and quite, quite uncommon. Think of how ubiquitous the charm bracelet has become - almost every home has one. Try to find another gold thimble and the haystack analogy and the needle comes to mind. By the way, Georgian examples can go to 1,200-1,500 at auction. On this page the same results continue. Notice that 9 carat, the gold that you can almost always associate with mediocrity in jewellery, abounds. I question the word gold in respect of 9 carat because, after all it contains only 375 parts gold in a thousand. In other words it is mainly base metal and can be liable to tarnishing. This is the usual standard for gold sold on the TV jewellery channels. There are a

4 couple of exceptions. At 33 is an antique belt bangle, unusually in 15 carat gold. This standard was introduced in 1854, along with the more unusual 12 carat. Both of these standards were discontinued in 1931 and in 1932 the 14 carat standard was introduced. Readers should note that this belt bangle is described as antique, and could be over a 100 years old. However it is not uncommon for auctions to use the term antique when they are referring to the earlier part of the twentieth century. Bear this in mind. This more unusual item of jewellery, set with eight half pearls is good value at only 247 and well outside of the usual common or garden gold jewellery. The 18 carat gold bangle at 38 also did well at almost a gram, and at 41, the 14 gram 18 carat gold wedding ring was a bargain at only a gram and only 176. The Celtic gold crucifix at 51 attracted almost 11 a gram, so well above scrap value and the oval locket also did well at 50. Even better, three 9 carat gold chains at 52 fetched more than twice their scrap value at nearly 16 a gram. Now to compare the auctions market with the high street. Buying gold jewellery, or any kind of jewellery, at auction or even at fairs or antiques centres is far more preferable than buying new. At the very least high street prices can be two and a half times more for new goods than their equivalent secondhand value and the spot checks I have carried out in the high street indicate that even 400% mark up over trade prices for secondhand gold and jewellery is not that unusual and when high street jewellers sell secondhand items they seem not to offer them for any less than the equivalent price for their new goods. I realise that in many cases people want to buy new but I urge those thinking along these lines to think again. Not only does the secondhand market offer a far greater variety of styles from several centuries but it offers this jewellery at a fraction of the price. Take a typical and economic diamond solitaire engagement ring on the high street with a stone of, say 0.25 carats. These are usually in the range of about 500 or more. I recently bought an antique old European cut, diamond solitaire, of good clarity and colour, of 0.8 carats, a stone more than three times the size, for 360 plus premium, which worked out at just under 440. The new equivalent on the high street would have set me back nearer 1,500 and if I made such a purchase, the moment I stepped out onto the high street then the ring would have been worth no more than what I would have paid for a secondhand example. For those readers who have access to our Services Database check out the jewellery section of our website. There are thousands of examples to choose from all categories of jewellery that make this very point. In the summer of 2009 I was looking for a secondhand platinum chain and rang around several high street shops in our area. Finally I located one and was quoted 200. I asked its weight and was told two grams. At the time platinum scrap was about 20 a gram and, to allow the shop to make a profit I was prepared to pay up to 50 a gram or a 100, but no more. The retailer was adamant. His best price was 200. I declined. This represented a mark up from scrap value of 500%. To further make the point, check out the prices of the gold chains at 52 which averaged about 23 each. Could you buy even a 9 carat gold chain for this price on the high street? The next two pages of this study will be devoted to the gold coin market ct yellow gold wedding band, size S, 14 grams. Gorringes, Lewes. Sep 09. HP: 150. ABP: ct gold chain mesh coin purse, with a snap clasp, London Bellmans, Wisborough Green. Nov 09. HP: 140. ABP: thC French gold rectangular vinaigrette, with foliate rim and pierced floral grille, eagles head mark, 1in. Gorringes, Lewes. Feb 09. HP: 140. ABP: Two pairs of earrings and matching brooch in 9ct yellow gold by Ola Gorie. Wellers Auctioneers, Chertsey. Jun 09. HP: 135. ABP: Lady s antique rose gold hollow curb bracelet, approx 7.5in, each link stamped, fitted with padlock fastener & safety chain, safety chain broken, stamped 9ct gold. (19.4g) A F Brock & Co Ltd, Stockport. Sep 09. HP: 125. ABP: 147. Pair of 18ct gold lozenge shaped earrings, each made up of 9 stylised overlapping shells, stamped 750, with 14ct gold hoops and fasteners (also useable as a pair of dress clips), 12g total. Hartleys, Ilkley. Dec 09. HP: 120. ABP: gold sovereign, in 9ct gold mount with fine link chain, gross 13.5 grams. Gorringes, Lewes. Sep 09. HP: 110. ABP: Figaro chain, approx 16in, fitted with trigger fastener, D shaped wedding band, 5mm, size N or 6.1/2 US, both 9ct gold h/m & a 4mm D shaped band, 18ct h/m, size N or 6.1/2 US. (gross 15.2g) (3) A F Brock & Co Ltd, Stockport. May 09. HP: 100. ABP: ct gold key ring, suspended with a 9ct gold Rolls Royce radiator, 14.9 grams. Dee, Atkinson & Harrison, Driffield. Apr 09. HP: 90. ABP: Oval locket, approx 38 x 26mm, floral pattern to one side, complete with 20in Singapore curb chain, 9ct gold h/m. (8.3g) A F Brock & Co Ltd, Stockport. Feb 09. HP: 65. ABP: Celtic cross pendant, approx 30 x 20mm, pierced ornate knot pattern, complete with 18in micro-belcher chain, tested & h/m 9ct gold. (7.0g) A F Brock & Co Ltd, Stockport. Sep 09. HP: 65. ABP: Micro-belcher chains, one 15in, other 17in, fitted with safety chain & a hollow rope chain, all fitted with bolt ring fasteners, 9ct gold h/m. (4.4g) (3) A F Brock & Co Ltd, Stockport. Sep 09. HP: 60. ABP: ct yellow gold wedding band with a 9ct yellow gold wedding band. Wellers 09. HP: 40. ABP: Heart shaped locket, approx. 18mm, sunburst pattern, complete with 18in fine curb chain, 9ct gold h/m. (3.7g) A F Brock & Co Ltd, Stockport. Sep 09. HP: 20. ABP: 23.

5 55 James II gold 5 guinea coin 1688, qvarto, 1st bust. (VF) HP: 3,800. ABP: 4,469. 2,900. ABP: 3, George III gold guinea, Gorringes, Lewes. Jul 09. HP: 800. ABP: George IV gold sovereign, Gorringes, Lewes. Jul 09. HP: 580. ABP: Victoria old head 1893 gold 2 coin. (F) Gorringes, Lewes. Oct 09. HP: 390. ABP: Victoria 1887 Jubilee head gold 2 coin. Gorringes, Lewes. Mar 09. HP: 280. ABP: Henry VI gold noble, London, S (VF) HP: 1,450. ABP: 1,705. George III 1820 gold sovereign. (NEF) Gorringes, Lewes. Oct 09. HP: 720. ABP: George III gold sovereign, Gorringes, Lewes. Jul 09. HP: 550. ABP: George III gold half sovereign, Gorringes, Lewes. Jul 09. HP: 370. ABP: Queen Elizabeth I gold angel, with beaded inner circles. George Kidner, Lymington. Nov 09. HP: 1,400. ABP: 1,646. Victorian 5 gold coin, HP: 650. ABP: 764. George IV gold sovereign, Gorringes, Lewes. Jul 09. HP: 280. ABP: George IV 1822 gold sovereign. (NEF) Gorringes, Lewes. Oct 09. HP: 500. ABP: Victorian gold coin. (VF) Gorringes, Lewes. Oct 09. HP: 350. ABP: Victorian 1887 gold 2 coin. (NVF) Gorringes, Lewes. Oct 09. HP: 280. ABP: Edward IV gold angel, London , cross & four pellets, S (VF) HP: 1,200. ABP: 1,411. William IV gold sovereign, Gorringes, Lewes. Jul 09. HP: 650. ABP: Henry VIII ( ), third coinage, gold halfcrown, London mint, mm pellet in annulet, slightly ragged at top and some flattening to parts of legend, otherwise fine. A F Brock & Co Ltd, Stockport. May 09. HP: 440. ABP: 517. George III gold guinea, Gorringes, Lewes. Jul 09. HP: 320. ABP: Victorian gold 2 coin, HP: 260. ABP: George V 1911 gold 5 coin. Kent Auction Galleries, Folkestone. Jul 09. HP: 1,075. ABP: 1,264. James I gold unite, half length second bust S (faintly struck bust, F) HP: 650. ABP: George IV gold sovereign, Gorringes, Lewes. Jul 09. HP: 1,050. ABP: 1,235. William IV gold sovereign, Gorringes, Lewes. Jul 09. HP: 420. ABP: 494. George III 1820 gold sovereign. (VF) Gorringes, Lewes. Oct 09. HP: 320. ABP: George III gold half guinea, Gorringes, Lewes. Jul 09. HP: 200. ABP: Edward VII gold 5 coin, Gorringes, Lewes. Jul 09. HP: 600. ABP: HP: 600. ABP: 705. George III gold sovereign, Gorringes, Lewes. Jul 09. HP: 400. ABP: 470. George IV 1824 gold sovereign. (VF) Gorringes, Lewes. Oct 09. HP: 300. ABP: 352. Victorian gold sovereign, Gorringes, Lewes. Sep 09. HP: 130. ABP: 152.

6 Most English gold coins are 22 carat (.916) and the increasing value of gold in the world markets has been reflected in values. Unlike the krugerrand these coins also have a collector value dictated by rarity and condition, frequently, although not always, stated in the description and goes from Fine, (F) through Very Fine (VF) to Extremely Fine (EF) and then Uncirculated. (UNC) The Trade also accepts intermediate descriptions that fall between gradings. For example, see 39 which is described as NEF, that is Near Extremely Fine. To analyse prices I will seek the help of the bible of the industry, Coin Yearbook, published annually by Token Publishing Ltd at only 9.95, probably the best book bargain in the industry. The prices reflect the average of dealers listings as well as auction sales and are quite accurate. Even if you know very little about coins this price guide will ensure that you can have a very good idea before buying of what you should be paying for any particular coin. Take for example 39, which I have already mentioned. The Book price for this coin in Very Fine condition is 300 and in EF condition, 700. Described as NEF, it fetched 588. We could have guessed at about 600. At 76 is a gold guinea which sold for 376 and its condition is not described, although auctions are always willing to supply any information not contained in the description, if required. This coin looks about F to VF and the book values are 150 and 400 so we are thereabouts in terms of guessing the sale price. The Krugerrand was introduced in 1967, as a vehicle for private ownership of gold. An ordinary coin has a fixed legal tender value, stamped on its face and normally greater than the bullion value of its metal. Earlier gold coins such as the sovereign had a fixed face value, which was originally more, then later much less than the bullion value.the Krugerrand has no face value. Its legal tender value is the bullion value at the current market price. The Krugerrand was the first bullion coin to have this kind of legal tender value and the first gold coin to contain one troy ounce of fine gold. By 1980 it accounted for 90% of the gold coin market. Its success led to many other gold-producing nations minting their own bullion coins, such as the British Britannia coin in 1987 and the American Eagle. Through 2008, Krugerrands containing 46 million ounces of gold were sold. Their gold content is one troy ounce.the Krugerrand is 32.6mm in diameter and 2.74mm thick. Its weight is troy ounces. (33.93 g) It is minted from gold alloy 91.67% pure (22 carat), so the coin contains one troy ounce ( g) of gold. The remaining 8.33% is copper, long used for English gold sovereigns. alloy coins are harder and more durable, so they can resist scratches and dents. Images have been downloaded from our Services Database. The analysis suggests that 85 fetched 20% more than the auction market was paying at the time and about is about the current going rate.as to be expected, the decreasing prices as we go back in time reflects the increasing values through 2008 and For example since July 2008 (92-98) the average market value of the krugerrand at auction has increased from about 450 towards almost 700 by the end of At 99 I have included a sale from 2002 which fetched only 282. In the last several years krugerrands have proved an excellent investment. 85 South Africa krugerrand 1974, E.F. Richard Winterton Auctioneers, Burton on Trent. Mar 09. HP: 680. ABP: , uncirculated. A F Brock & Co Ltd, Stockport. Sep 09. HP: 570. ABP: , uncirculated. A F Brock & Co Ltd, Stockport. Sep 09. HP: 560. ABP: , almost uncirculated. A F Brock & Co Ltd, Stockport. Sep 09. HP: 550. ABP: Krugerrand, (VF, but with small knock to edge) Gorringes, Lewes. Oct 08. HP: 420. ABP: , uncirculated. A F Brock & Co Ltd, Stockport. Feb 08. HP: 400. ABP: South African 1979 gold HP: 400. ABP: South African 1979 gold HP: 400. ABP: 470. South African 1975 gold HP: 390. ABP: Krugerrand, in pendant mount. Gorringes, Lewes. Jul 08. HP: 390. ABP: South African 1981 gold krugerrand, 8.5 grams. (F) HP: 370. ABP: South African 1987 gold krugerrand, 8.6 grams. (VF) HP: 365. ABP: Krugerrand, George Kidner Auctioneers, Wimborne. Jul 09. HP: 540. ABP: 635. South African 1975 gold HP: 390. ABP: 458. Full Krugerrand Fellows & Sons, Hockley, Birmingham. Dec 02. HP: 240. ABP: 282.