In times of political and economic uncertainty, real or hard assets rise in value as people seek a safer place to put their money. Gold and silver are some of the most popular hard assets and the bullion price for both has risen significantly in the last few weeks, as Britain approaches Brexit on 29 March 2019. Interestingly as the result of the Brexit deal vote was announced on 15 January at around 8pm, the UK gold price fell sharply. It recovered within two hours but the fall can be attributed to the defeat of the prime minister’s proposed deal and the increased uncertainty of Brexit happening at all. Brexit is predicted to have a very positive impact on gold prices, if it comes to fruition. McTear’s Coins & Banknotes Auction took place on 15 January with some strong results for gold and silver pieces alike.
Lot 524, a gold sovereign dated 1907 set in a pendant with chain achieved £840 including fees and sold to a room bidder, after bidding from online buyers and the room.
Lot 514, a rare gold guinea dated 1795, made £490 selling online to a buyer based in the south of England.
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