Advice

[tomjordan91 0]

Hi people. I was at my local market today when the guy was showing me his guineas. He had about 5 priced around £155 - £200. But then he showed me one which had a small hole in which he said he would sell me for £12. It was very good condition and he said it would have been worth around £200 had the hole not been there. I wasn't sure so I didnt buy it. But now im wondering if I should go back an buy it because it might be the only chance I have of owning a guinea because I am only 14 and I cant afford them at their usual prices. Any advice would be appreciated. Thanks

[Rob 3,152]

Hi people. I was at my local market today when the guy was showing me his guineas. He had about 5 priced around £155 - £200. But then he showed me one which had a small hole in which he said he would sell me for £12. It was very good condition and he said it would have been worth around £200 had the hole not been there. I wasn't sure so I didnt buy it. But now im wondering if I should go back an buy it because it might be the only chance I have of owning a guinea because I am only 14 and I cant afford them at their usual prices. Any advice would be appreciated. Thanks

If they are genuine guineas then that is a no brainer. The scrap gold content is worth a lot more than £12, even with a reduction in weight for the hole. It's always good policy to buy £10 notes for £5.

[Peter 615]

http://cgi.ebay.co.uk/Georgius-III-In-Memo...1QQcmdZViewItem

Make sure its not one of these gaming counters (common and of several different types)they all look vaguely similar to

a spade guinea.

These were often holed for watch chains etc....& worth less than 50p.

A genuine holed guinea for £12 is unlikely....the scrap value of gold is going to be around £60.

[tomjordan91 0]

Yes he was showing me about the gaming counters, he had a tub with a few in for £1 each. But he said that the one for £12 was a genuine spade guinea. I might buy it next time im down there, because if it is real then it sounds like a bit of a bargain.

[Rob 3,152]

Yes he was showing me about the gaming counters, he had a tub with a few in for £1 each. But he said that the one for £12 was a genuine spade guinea. I might buy it next time im down there, because if it is real then it sounds like a bit of a bargain.

That doesn't make sense. If he is selling things worth pence for a quid and he knows what they are and their value, why would he sell something worth £60 for £12? I'd be suspicious, because gold is frequently traded by the general populace, gaming counters are not.

[tomjordan91 0]

Yes i was a little weary too when he told me this and that is why i didnt buy it. He did pass me it out from behind the cabinet for me to have a look at and i compared it to one of the gaming counters and it did look somewhat different. Ill definetly have to check it out next time i go.

Edited January 22, 2006 by tomjordan91

[Peter 615]

Guineas are 22ct gold and weigh just over 8g.

If he sells jewellery as well I would heed Robs warning.

[tomjordan91 0]

Ok thanks for your advice, im going to bed now, bye

[Rob 3,152]

If I were you, I would make sure I had read all I could about guineas before buying anything. Some of the gaming counters have only one or two letters different to a genuine guinea legend, but then may have an incorrect date. Better still, take someone with you who knows something about both items if possible.

Caveat emptor.