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What are the gold half sovereign prices today?

The price of gold has steadily climbed since the start of the credit crunch as people look to move their savings and investments into something that is less volatile than fiat currencies.

As more and more people become worried by issues like quantitative easing the price of gold has risen to its historic high on Thursday the 10th of August 2011.

Investment in gold has taken many forms from jewelry to gold bullion but one form of investment has become more and more popular since its inception in the 1600.

British Gold Sovereign coins were first minted in their current form in 1817. Each coin has a designated value of £1 sterling but in reality it is worth much much more.

Each coin is made of exactly 7.9881grams or 0.2354 of a troy ounce of 22 carat gold.

As the price of gold has increased so to has the intrinsic value of these gold bullion coins.

So what happens when we asked ourselves what is the gold half sovereign prices today?

By tracking the price of gold on a site like goldprice.org/ its easy to work out the gold value of the coins. The simple formula is as follows

(G) * (F) * (S) = value

Where G is equal to the price of gold in ounces on the day of calculation and F is equal to the face value of the sovereign coin. For instance some gold sovereign coins come in double or 5 sovereign denomination coins. The value of S is a constant of 0.2354 or the amount of gold in sovereign coins.

So using our example the gold half sovereign prices today would be

€1235 * 0.5 * 0.2354 = €145.36

 

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