Greeks Cash In on Gold Sovereigns Amid Record Prices

Greeks are increasingly turning to their gold sovereign coins, cashing them in as prices hit historic highs. Market insiders have noted that the surge in gold’s value has encouraged many holders of sovereigns to sell.

This wave of liquidations is driven not only by the chance to secure strong profits, but also by the pressure of rising living costs. Many households are effectively “eating into their savings,” tapping into their gold coins as a financial buffer.

Sales Outpace Purchases

Official data highlight this trend. In the third quarter of 2025, private individuals bought just 1,714 gold sovereigns from the Bank of Greece, while selling back 9,365.

Across the first nine months of the year, the Bank sold 5,399 sovereigns to private buyers but purchased 32,002 from them—a striking imbalance that underscores the appetite for liquidation.

Record Prices Fuel Demand to Sell

On Thursday, October 2, the price of a gold sovereign soared. The Bank of Greece set its selling price at 876.64 euros, with a buying price of 748.18 euros. These elevated levels have further fueled profit-taking, with so many sellers lined up that the Bank now operates with waiting lists.

Anyone wishing to sell or buy sovereigns must first book a phone appointment with the Bank of Greece—currently scheduled up to 15 days in advance.