UKC

While visiting my parents this week they gave me a dusty old box that my great uncle had given me when I was christened as a baby. Upon opening it I discovered a long forgotten krugerrand inside. It is a solid gold coin weighing 34g or 1.3oz.

Not sure if I want to sell it at the moment as it's all I have of him as he died shortly after I was christened, but then again I never knew him so there's not really any sentimental value to it. If I were to sell it where and how would I go about selling it?

Mike

In reply to MikeR:



A google search reveals a guy sold one on a popular internet auction site (that i can't put a link to because of UKC forum restrictions )recently for just over £1k. Get it sold!

In reply to MikeR:

Hatton Garden? Quite a few bullion dealers there

In reply to MikeR:

If it helps, think of it this way -

Your uncle gave you something of increasing value that can be exchanged for cash to spend as you wish, the present is the fun you can buy yourself with that cash and a thought to your late uncle every time you remember the fun you bought.

Have fun dude!

In reply to MikeR:

Since you posted Gold spot has gone up $10...maybe hang on a bit longer

In reply to MikeR

Don't take their first offer... or there second

In reply to M0nkey:

I did consider them, but wasn't sure if I'd get the best price. However, looking on there they mostly seem to be going for around the £900 plus mark. Not bad!

Bjartur, I checked out a few dealers on Hatton Garden, they all seem to offer around the same price and a fair bit less than the above mentined auction site.

In reply to Bjartur i Sumarhus:

Nice! Where are looking for the price of gold?

In reply to MikeR:

The spot price is $1344/oz as of writing. It's hovering at $1330 or so this week.

Although the weight is 34g they only contain 1troy ounce of gold and they won't sell for the spot price on auction sites. There's lots up as buy-it-now's at £949.

In reply to MikeR:


I've sold it online to jewellers with good reviews (industrial wastage). They tend to argue over the gold content. Yours is a relatively large piece so I'd want to do it in person. I guess a good start would be jewellers in Aberdeen (there's money in that town, bound to be some good jewellers).

In reply to MikeR:

I have bloomberg on my terminal at work

In reply to MikeR:

If your based in Aberdeen, then I agree with Mike Stretford...sell it locally. Kruggerands are world recognised gold coins that will always be in demand.

In reply to MikeR:

I'd stick it back in it's dusty old box and pop it under your mattress.

In reply to MikeR:

Unless you need the money for something right away its a pretty good investment, a good way to store wealth. The price fluctuates a bit but is generally going up, especially when the economy starts to bleak.

In reply to stp:

Yeah I don't want to waste the money so might be wort hanging on to for a while, plus I have no idea if the price of gold is particularly good at the moment.

So a reputable jewllers is considered a better option than that online auction site then?

In reply to MikeR:

I'll swap you my copy of 'Extreme Rock' for it...