Key Date 1931 Palestine 100 Mils coin sold tonite at Heritage for $21,600

https://coins.ha.com/itm/palestine/palestine-british-mandate-100-mils-1931-ms62-pcgs-/a/3071-31019.s

Didn't surpass the $28,200 for same grade in 2014. Better dates for Palestine Mandate show continued strength and demand.

Comments

  • pruebaspruebas Posts: 2,047 ✭✭✭✭

    If it didn’t surpass the previous price, how does that show continued strength?

  • atomatom Posts: 143 ✭✭✭

    Judging from images, this example isn’t quite as attractive even if it merited the technical grade.
    Also, there are a limited number of collectors for these issues. The market in 2014 was much stronger then, so I figure the bids placed today are quite strong.

  • WCCWCC Posts: 139 ✭✭✭

    Most world coinage has a low or very low number of collectors but unless there is regular sales activity, it is hard to judge whether an individual sale is "strong" or weak". The last sale from 2014 doesn't seem to indicate much of anything for the current market, either way.

  • 291fifth291fifth Posts: 16,933 ✭✭✭✭✭

    Thin markets can produce wide swings in price. There is always the chance that the second highly motivated bidder won't be there.

    All glory is fleeting.
  • atomatom Posts: 143 ✭✭✭

    The last 4 years have had 3 examples of a MS62, with resulting prices in the range of ~20k - ~28k
    There is no wide swings in price. The market overall in 2014 was much stronger, yet this rare date has still elicited strong bids.

  • There was a AU55 piece sold in April 2018 for only $900, which is a bargain compared to these examples. I just started collecting a (circulated) set of this series. I better start looking for this key date ASAP.

  • atomatom Posts: 143 ✭✭✭

    As with U.S. coins, there is definitely a hefty premium for the highest grade available. I maintain that an AU for a fraction of the price may be a better purchase. One has to consider the surface marks and eye appeal.

  • 7Jaguars7Jaguars Posts: 4,948 ✭✭✭✭

    Well, that seems a fairly wide fluctuance with a diminishing value - even though only three examples....

    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • atomatom Posts: 143 ✭✭✭

    @7Jaguars said:
    Well, that seems a fairly wide fluctuance with a diminishing value - even though only three examples....

    You don’t really mean “fluctuance”

    There are just 4 graded MS62 with 3 appearing at auction per above.

  • 7Jaguars7Jaguars Posts: 4,948 ✭✭✭✭

    No, I was being nice. Significant sluggishness with a downward trend would be more exact. Frankly, I am quite accustomed to low supply- low demand coins of similar value.

    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • WCCWCC Posts: 139 ✭✭✭

    @7Jaguars said:
    No, I was being nice. Significant sluggishness with a downward trend would be more exact. Frankly, I am quite accustomed to low supply- low demand coins of similar value.

    I have noticed in the past that many coins from this series (all denominations) sell for "strong" money. The coin cited in the OP is apparently conditionally scarce which almost certainly means that a handful of buyers are responsible for the price. The price spread between this MS-62 and the AU-55 cited above is exorbitant, even worse than the inflated premiums prevalent in South African coinage where a preference for TPG predominates and most collectors in that country seem to be more interested in the money aspects of collecting.

    This coin apparently is a key date but it isn't even scarce in decent grades, much less rare. On eBay right now, at least one dozen examples are available including multiple in better AU TPG grades. One of the listings states a mintage of 250,000.

    If I collected this series, I'd buy it in an NGC or PCGS AU near $900. I'd run from the MS-62 at any price remotely close to the listed sales.

  • marcmoishmarcmoish Posts: 3,249 ✭✭✭
    edited January 19, 2019 5:55PM

    These two latest examples sold seem to be graded well, and technically they are 62's. However the 62 sold in 2014 was superior in it's eye appeal and blemish-free.

    Notwithstanding, this date now has DOUBLE the pop, at 4 in 62, 2 in 63.

    Hence the lower but still very strong prices realized imho.

  • bidaskbidask Posts: 10,315 ✭✭✭✭✭

    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    Share the joy and its multiplied by two.
    Share the grief and its halved by two.
  • atomatom Posts: 143 ✭✭✭

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    1927 is first year, but isn’t a rare date.
    My guess would be ~500 if it’s truly gem. I saw an example at the ANA show in August, but IMHO the ms66 grade assigned wasn’t justifiable. I’ve got a MS65 that’s superior in technical terms and eye appeal.

  • bidaskbidask Posts: 10,315 ✭✭✭✭✭

    @atom said:

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    1927 is first year, but isn’t a rare date.
    My guess would be ~500 if it’s truly gem. I saw an example at the ANA show in August, but IMHO the ms66 grade assigned wasn’t justifiable. I’ve got a MS65 that’s superior in technical terms and eye appeal.

    What were they asking for the one you saw at the ANA in 66 ?

    Share the joy and its multiplied by two.
    Share the grief and its halved by two.
  • atomatom Posts: 143 ✭✭✭

    @bidask said:

    @atom said:

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    1927 is first year, but isn’t a rare date.
    My guess would be ~500 if it’s truly gem. I saw an example at the ANA show in August, but IMHO the ms66 grade assigned wasn’t justifiable. I’ve got a MS65 that’s superior in technical terms and eye appeal.

    What were they asking for the one you saw at the ANA in 66 ?

    If memory serves me correctly I think it was stickered 750.
    With just one recorded in pop report, that would make you the current owner! What did you pay for it?

  • marcmoishmarcmoish Posts: 3,249 ✭✭✭

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    That is a very rare grade indeed, especially in our host holder.
    I have seen very few true hi-end pcs, and do not hold NGC to same standards.
    For the record there is only YOUR sole example. In 65 only 2 pcs.
    True, NGC has 15+ pcs but irrelevant as comparison in this case.

    In answer to your question on value, likely north of 2K easily.

  • atomatom Posts: 143 ✭✭✭

    @marcmoish said:

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    That is a very rare grade indeed, especially in our host holder.
    I have seen very few true hi-end pcs, and do not hold NGC to same standards.
    For the record there is only YOUR sole example. In 65 only 2 pcs.
    True, NGC has 15+ pcs but irrelevant as comparison in this case.

    In answer to your question on value, likely north of 2K easily.

    1) How can you possibly say 15+ pieces graded MS65 by NGC are irrelevant, unless you've actually viewed them?!
    Fact is both TPG are quite accurate, and both have undergraded and overgraded examples.

    2) Your confidence to place a value of "easily north of 2K" isn't a given. Yes, if two or more bidders at auction are vying for top pops, it's certainly possible. But a dealer would be hard-pressed to sell at a table at any show at that price. There have been other examples of super high prices brought at auction for top pops of coins that really aren't that rare.

  • atomatom Posts: 143 ✭✭✭

    @bidask said:

    @atom said:

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    1927 is first year, but isn’t a rare date.
    My guess would be ~500 if it’s truly gem. I saw an example at the ANA show in August, but IMHO the ms66 grade assigned wasn’t justifiable. I’ve got a MS65 that’s superior in technical terms and eye appeal.

    What were they asking for the one you saw at the ANA in 66 ?

    I answered your question; would you kindly answer mine?
    With just one recorded in pop report, that would make you the current owner! What did you pay for it?

  • bidaskbidask Posts: 10,315 ✭✭✭✭✭

    @atom said:

    @bidask said:

    @atom said:

    @bidask said:
    I have a 1927 50 mild PCGS 66

    Wonder what that would bring ?

    1927 is first year, but isn’t a rare date.
    My guess would be ~500 if it’s truly gem. I saw an example at the ANA show in August, but IMHO the ms66 grade assigned wasn’t justifiable. I’ve got a MS65 that’s superior in technical terms and eye appeal.

    What were they asking for the one you saw at the ANA in 66 ?

    I answered your question; would you kindly answer mine?
    With just one recorded in pop report, that would make you the current owner! What did you pay for it?

    I am the owner of a 1927 50 mils in PCGS 66. It has glossy lustrous surfaces .... don't remember exactly what I paid for it but maybe around $500...

    I liked the fact it was a top pop at PCGS!

    If you think you have a superior 65 speciman maybe you should try to upgrade.

    Share the joy and its multiplied by two.
    Share the grief and its halved by two.
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