A gold rush in Honiton High Street

Gold coin sold at auction in honiton

This George II two guinea coin sold for £1,600 in Chilcotts’ June auction. - Credit: Chilcotts

The current economic challenges and fluctuating markets are making many people question whether it's a good time to sell at auction. In response to this, the Honiton auctioneers, Chilcotts in Silver Street, say 'yes, it is' and that gold, in particular, is currently selling well.

Principal auctioneer, Duncan Chilcott said: “During a time of global uncertainty, people are wanting a safe haven for their money and investing in commodities such as gold and silver. Consequently gold prices are riding high.   

“In 2004 they were achieving £90 for a lot of two sovereigns, now they are selling for around £320 to £340 for a single sovereign.”

An auction will attract several bidders, so there's a good level of confidence that the correct market price will be achieved, as opposed to accepting an offer from one person or sending a package off to an unknown agency.

The gold coin pictured is a George II two guinea coin. It sold for a £1,600 hammer price in Chilcotts’ June auction.

Chilcotts, is now taking in entries for its auction on Saturday, September 3. The lots will be offered in a live online sale which reaches an international market, ensuring the full market price will be achieved. Anyone who wishes to enter items for auction will need to bring a proof of identity with them. 

To consign, contact 01404 47783, or visit one of the Valuation Days, which take place every Friday between the hours of 10am and 1pm.