Discussion: The return of the Indian sovereign

Started by Mycoins, January 03, 2015, 09:44:55 AM

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Mycoins

Some Weeks ago I obtained this 2013 I - sovereign. I was quite surprised that so little can be found about this issue. I got over it by shear coincidence.
According to the dealer I bought it from the official minting figure of 50,000 are not quite correct. He said another 10,000 specimens where minted, meant for the international marked.
Anyway, where are they gone ? Neither 10,000, 50,000 or 60,000 should make a modern coin scarce, but you very seldom find an offer of this sovereign .
Are they known to collectors or consumers at all ?
I as well post a link to the official release video by the Royal Mint:

https://www.youtube.com/watch?v=AgogdKIFWg0

andyg

Nice coin - and whatever happens it will always be worth at least the gold bullion price.

Yes these are known to the collectors/ dealers - I think where the relative scarceness of them is because few people are selling what they bought, it is afterall a coin marketed by the mint as an "investment"*

*disclaimer - I think there are better investments to be found outside coins, but at the same time I'd be a little upset if my collection became worthless... :)
always willing to trade modern UK coins for modern coins from elsewhere....

kansal888

Your dealer is right. The mintage of 2013 India Sovereign is 50K + 10K.

Most of the Sovereigns have been absorbed by the Gold loving Indians rather than numismatists.

Mycoins

Quote from: kansal888 on January 05, 2015, 02:54:06 AM
Your dealer is right. The mintage of 2013 India Sovereign is 50K + 10K.

Most of the Sovereigns have been absorbed by the Gold loving Indians rather than numismatists.

Do you know if the coins in India where sold as buillion or rather with a premium ?

jnite

These were sold with a premium.
Mmtc-pamp was given license by the Royal mint, UK to mint I mint mark sovereign. They were minted from 2013 till 2020 and half sovereign only in the year 2014 at mmtc-pamp's Haryana refinery.

They stopped because Indian government made it mandatory to mark 916 gold with BIS hallmarking and I suppose it was not liked by either Royal mint or mmtc-pamp to get there sovereign coins marked with hallmark stamp.

2014 half sovereign is kinr of hard to find now.