Record for the Gold Sovereign coin: How many Greeks own, and what’s happening in the “parallel” market

The golden sovereign is making a beardown instrumentality to the spotlight, with the surge successful golden prices globally driving caller historical highs successful the Greek market.

Within a year, its terms has jumped 41%, with headlines noting that a azygous golden sovereign is present worthy as overmuch arsenic the minimum monthly wage.

Official Rates and the Price Gap

According to the latest terms bulletins from the Bank of Greece, the selling price of a golden sovereign ranges betwixt €894–€923, portion the buying price stands astatine €763–€788.
The terms dispersed (around €150) reflects costs for storage, transportation, and authenticity checks successful authoritative transactions.

In pawnshops and speech outlets, purchase prices from individuals scope up to €800.

Where to Buy/Sell Officially

After the Bank of Greece, the only commercialized bank offering concern golden products (like afloat and fractional sovereigns, arsenic good arsenic golden bars) is Piraeus Bank. As an authoritative distributor for the Royal Mint of the UK, it holds its ain banal and facilitates authoritative golden coin transactions.

Bank of Greece Data: More Sellers Than Buyers

Data from the Bank of Greece shows that Greek households are selling acold much coins than they are buying:

• In the first 9 months of 2024, conscionable 4,672 sovereigns were purchased, portion 35,972 were sold.
• In the first 9 months of 2025, 5,399 coins were bought, portion 32,002 were sold.

This inclination is attributed to cost-of-living pressures and the tendency to cash successful profits, fixed the crisp emergence successful golden prices implicit the past 2 years.

How Many Gold Sovereigns Do Greeks Own?

Though the Bank of Greece does not supply an authoritative inventory, it’s estimated that since 2002, over 3 cardinal golden sovereigns person been liquidated by Greeks, portion around 1.5 million person been purchased.

This suggests that hundreds of thousands of sovereigns stay outside the banking system, often kept arsenic family savings oregon “smart” exigency assets—a signifier that became wide during the 10-year fiscal crisis.

In 2024, 150,000 golden sovereigns circulated done authoritative channels (Bank of Greece and Piraeus Bank). The Bank of Greece accounts for astir one-third of each transactions, with Piraeus Bank handling the majority.

The “Parallel” Market: Pawnshops & Private Sales

Beyond authoritative channels, there’s a immense private commercialized network of pawnshops, golden stores, and person-to-person deals.

These outlets acceptable their ain buy/sell prices, often favoring sellers during high-demand periods. However, no authoritative statistic exist for this segment, and transactions are not monitored by the Bank of Greece—meaning buyers should beryllium cautious.

When buying oregon selling, it’s captious to:

• Verify authenticity
• Request receipts and identification
• Work with certified appraisers
• Be alert of the coin’s origin, year, and condition

Current Parallel Market Prices (Approximate)

What to Look for When Buying

A genuine sovereign should:

• Weigh 7.988 grams
• Have a diameter of 22.05 mm
• Have a thickness of 1.52 mm
• Be made of 22-karat gold

Damage oregon deterioration tin trim the coin’s value. Buyers should besides cheque mint origin, minting year, and design details.

Why Gold Is Rising Again

The renewed golden surge is driven by a operation of global economical and geopolitical factors:

• Slow gait of involvement complaint cuts by cardinal banks → Investors crook to “safe havens” similar gold
• Stock marketplace uncertainty & governmental instability successful the U.S., Europe, and Middle East
• Heavy golden buying by cardinal banks, particularly China, India, Turkey, and Poland
• Increased concern successful golden ETFs, boosting demand

According to the World Gold Council, cardinal banks purchased implicit 1,100 tonnes of gold successful 2024–2025. China unsocial bought 225+ tonnes, followed by Poland, India, and Turkey.

Notably, conscionable today, aft the announcement of a ceasefire signifier statement successful Gaza (under the Trump bid plan), golden prices dipped somewhat (-0.6%) to $4,047/oz pursuing the opening of European markets.