Coin or watch?

Engee · Jul 3, 2020

It's a simple question. I have a Victorian gold sovereign, current value is something like £300. Dealers appear to be asking north of £500 for similar grade coins of the same year. Should I sell it and put the money towards the Rolex I'm aiming for, or should I leave it quietly for the children? This is purely a question of investment strategy - is that money better off in a watch or in a gold coin?

I know it's a ridiculous question, and I know that as watch-lovers most of you are going to say use it to enjoy a watch but I don't actually need to liquidate the coin for that, my question is really what you think would be the better way to put £300 to work - as a gold sovereign or as part of a Rolex?

STANDY · Jul 3, 2020

Keep the coin.
Diversity rules.

OmeGez · Jul 3, 2020

Chances are the Rolex will rise far quicker, but if you don’t need that £500 - then keep the coin, as once it’s gone, it’s gone..

RonJ · Jul 3, 2020

Gold can be a pretty slow-rising investment for several years in a row but it has gone up quite a bit over the past 5 years.
IMHO, keeping the gold coin seems like the better investment choice, at least for the next few years.

dennisthemenace · Jul 3, 2020

You'll be glad you kept the coin when Donald the Duck gets re-elected.

Stripey · Jul 3, 2020

STANDY
Keep the coin.
Diversity rules.

I agree with this. I have a (very) few gold sovereigns, including a Victorian one - I assume yours is an earlier one in good condition from what you say about the dealer prices. They are historically interesting, and like an emergency fund for me - like a last bulwark against a currency run or something.

SkunkPrince · Jul 3, 2020

I think it also matters where the coin came from. Was it an inheritance or did you buy it yourself?

Engee · Jul 3, 2020

Stripey
I agree with this. I have a (very) few gold sovereigns, including a Victorian one - I assume yours is an earlier one in good condition from what you say about the dealer prices. They are historically interesting, and like an emergency fund for me - like a last bulwark against a currency run or something.

It's a nice young head 1853 example. Reasonably well defined but not perfect. I'm persuaded by the idea of stashing away gold for when the world goes nuts, if it hasn't already.

Engee · Jul 3, 2020

SkunkPrince
I think it also matters where the coin came from. Was it an inheritance or did you buy it yourself?

It was a gift from my grandfather, but I'm not sentimental about it, and neither was he. He would tell me to use it sensibly. It's a thing, not a person.

cjfrancese79 · Jul 3, 2020

I would keep the coin especially if you don't need the money. It's a cool piece to have and gold value keeps a pretty steady increase.

SkunkPrince · Jul 3, 2020

Engee
It was a gift from my grandfather, but I'm not sentimental about it, and neither was he. He would tell me to use it sensibly. It's a thing, not a person.

That's a reasoned response, but some day one of your kids (assuming) may think differently.

Dan S · Jul 3, 2020

Depends on which Rolex you’re talking about. This is probably a pretty good time to sell gold.

CPRwatch · Jul 3, 2020

You mention children in your post so my assumption is you have more than one child , so I would keep the coin as one of your children might not really want a Rolex . Unless that is you have enough Rolex watches to pass one to each child , just a thought as sibling rivalry can get a bit tasty when it comes to inheritance.

wristpirate · Jul 3, 2020

Put the coin towards an 18k Rolex, best of both worlds

Davidt · Jul 3, 2020

If it's a young head/shield back sovereign id keep it.

In fact if it's any kind of full sovereign I'd keep it.

padders · Jul 3, 2020

No sovereign after around 1850* is worth much more than melt at present, well a small premium maybe for the fact that it is already in an easily traded form like bar. Currently any Sov can be sold for around £325 if you go to the right people. I would flog it and get the watch, unless you think gold has much further to climb.

*yes there are some rare ones minted in the colonies and rare years that may be exceptions but in the main they all get melted when the price is as high as it is now, I know some bullion dealers personally so have an insight.

Stripey · Jul 3, 2020

Dan S
Depends on which Rolex you’re talking about. This is probably a pretty good time to sell gold.

It's also a pretty good time to sell a Rolex.

Dan S · Jul 3, 2020

Stripey
It's also a pretty good time to sell a Rolex.

If it's a vintage sport model, then yes. But we still don't know which Rolex the OP has his eye on.

Stripey · Jul 3, 2020

Dan S
If it's a vintage sport model, then yes. But we still don't know which Rolex the OP has his eye on.

True - not just a vintage sport model though.

Engee · Jul 3, 2020

Dan S
Depends on which Rolex you’re talking about. This is probably a pretty good time to sell gold.

1960s steel datejust is the present want.

Coin or watch?

Engee

STANDY

OmeGez

RonJ

dennisthemenace

Stripey

SkunkPrince

Engee

Engee

cjfrancese79

SkunkPrince

Dan S

CPRwatch

wristpirate

Davidt

padders

Stripey

Dan S

Stripey

Engee

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