faydety-logo-text

Gold Sovereign: Make Sure You Buy the Real Deal

Publish Date: 30 Nov 2022

Finance Today

Gold Sovereign: Make Sure You Buy the Real Deal

What is the best gold sovereign coin to invest in?

Join Faydety as we find out everything you may need to know about the price of gold coins, how to choose which one to buy and use as an investment, and how to know whether you are buying the real deal or if it is a fake.

 

Do you know why Egypt bought gold at the beginning of this year? Find out why: Why did Egypt buy 44 tons of gold at the beginning of 2022?

 

What are the specifications of a real gold coin?

 

  • One of the conditions is that the coins are made out of 21k gold.
  • Denominations: half pound and quarter pound, all of which are stamped with 21k caliber.
  • The most famous of all is the gold pound that bears the image of King George (keep reading to find out why).
  • The stamp must be clearly visible, the coin must be in the packaging of its manufacturer and the manufacturer's trademark must be on it.
  • When you buy a gold pound, you must get a detailed invoice.

Keep reading to find out how to know the price of a gold pound coin.

 

Do all the coins weigh 8 grams?

 

  • The new pounds minted in Egypt weigh 8 grams made of 21k gold.
  • But some coins weigh 2-3 millimeters more or less.

 

This difference can make a difference

 

There is a difference between the gold pounds minted in Egypt, and the old pounds minted in Britain and its territories like Australia and they were made out of 22k gold and weighed 7.98 grams.

 

The different types of British monarch coins

 

  • King George.
  • Queen Victoria.
  • King Edward.

All of them are 21k and weigh 8 grams, and as we mentioned earlier the most popular is the king.

 

Why is the King George gold coin the most popular is Egypt?

 

  • The King George pound is the most famous in Egypt.
  • The market relies on the gold pound bearing the image of King George.
  • More than 98% of the gold pounds traded in the Egyptian market bear the image of King George.
  • The reason for this goes back to when Egypt was a British colony, which made the pound circulating in Egypt bear the image of King George.
  • The gold pound coin must be stamped the same as wrought gold. The workmanship fee varies according to the manufacturer.

 

Gold Pound Coin Weight

 

  • The gold pound in Egypt is 21k and weighs 8 grams.
  • There are no 18k or 24k gold pounds on the Egyptian market.
  • Every single manufacturer in Egypt makes the same gold pound King George. 

Know the price of the gold pound here

 

What is the story behind the gold pounds coins with different images on them?

 

BTC company for example offers gold pounds bearing Islamic, Christian and Pharaonic shapes, drawings and images.

But this type of gold pound is not as popular as the gold pound that bears the image of King George.

 

Do you want to calculate the gold workmanship? Find out more here:  Don’t Be Fooled Calculate Gold Prices in 2022 Correctly

Editors' Choice

faydety logo text
google
apple
linkedin
instagram
youtube
twitter
facebook

Banking Products

Personal Loans

Car Loans

Home Loans

Micro Finance

Credit Cards

Saving Deposits