The Australian gold sovereign, one of the rarest Australian gold coins, is a favorite among collectors and investors. In addition to the intrinsic value of the gold from which the coin is struck, the sovereign is also a very rare coin, a fact that also increases its value and makes it an attractive investment for collectors. Many collectors also simply consider the Australian sovereign to be a beautiful coin full of history, a factor that is harder to value but increases the demand for the coin and, therefore, the price. All of these factors should be taken into account when valuing an Australian gold sovereign.
- Investigate the current price of gold on the market. Gold is a commodity with a price determined by market supply and demand. Once you have determined the amount of gold in your coin, check here the value of the metal to define the minimum value of your coin. For instance, if your coin contains one ounce of gold and gold is worth $1800 an ounce, the minimum value you should accept for your coin is $1800.
- Determine the date your coin was minted. Once again, the date should be prominently displayed somewhere on the coin, but you should use a magnifying glass if you have trouble seeing it.
- Assess the condition of your coin. Is all the lettering clear? Is the rim crisp or worn down? Is the coin still shiny and are minor details like the hair on the bust still visible? The condition of a coin is a critical part of valuation for collectors.
- Consult a reference for coin valuation to determine the collecting value of your coin. Various collector groups and numismatic societies publish reference materials that estimate the value of coins to collectors based on the year minted, the rarity of a particular date or type of coin and the condition of the piece. Simply match the year your coin was minted, the type of coin and the condition to determine an estimate market value.
- Call numerous coin dealers and ask for offers. As with most collectibles, coin valuations are a function of market conditions like supply and demand. The ultimate price of a coin depends on how much collectors are willing to pay, but, once you have a general idea of how much your coin should be worth, you can discuss with investors and collectors to determine a final price.
Tips & Warnings.
Call numerous dealers when appraising a coin to make sure you are getting the fairest price. Have all the basic information about the coin with you when you make the call to make the process easier for both of you. Watch tendencies in the gold and numismatic markets to make sure you are selling any coin at the right time and you do not think the value will increase considerably in the near future.
Do not attempt to clean or polish a coin. Harsh chemicals and abrasives in cleaning and polishing supplies will adversely affect the condition of your coin.