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Outrageous IMO Auction Price

This is how crazy the market is, mintage 2600 and ALWAYS available at high grade.

Love that Milled British (1830-1960)
Well, just Love coins, period.

Comments

  • WCCWCC Posts: 2,349 ✭✭✭✭✭

    It is a ridiculous price presumably due to the holder label. But then, I also consider the 1887, 1893 and 1937 gold overpriced too. So is the 1923 South Africa proof sovereign, as it isn't scarce either.

    There a lot of US proof classic gold lower grade yes, but that are available for a lot less than that and a lot scarcer.

  • coinkatcoinkat Posts: 22,721 ✭✭✭✭✭

    Agreed... a very attractive coin but the valuation at that level seems misplaced. What is difficult to explain is how a coin like that can draw in bidders and get the money that significantly tougher British milled are unable to. I would argue that an MS65-66 1905 Half Crown is a far greater challenge to find and I suspect one would fetch about 1/5 the price.

    Experience the World through Numismatics...it's more than you can imagine.

  • 7Jaguars7Jaguars Posts: 7,228 ✭✭✭✭✭

    Yes, my belief as well.....Have you seen an MS65/6 1905 half crown?
    Or how about an 1893 truly uncirculated Jubilee Head sixpence - 64 or above??

    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • coinkatcoinkat Posts: 22,721 ✭✭✭✭✭

    I have not seen either graded in a slab - the 1905 in 65 or 66 nor the 1893 6d Jubilee Head. I saw what was a promising 1905 1/2 crown that was raw in an auction across the pond. I am trying to remember if it was Dix Noonan or ??

    This type activity leads me to believe that there is room for a return to evaluations based on rarity and surviving population over flash and what can be promoted just because an adequate supply exists to make promotions worthwhile.

    Experience the World through Numismatics...it's more than you can imagine.

  • WCCWCC Posts: 2,349 ✭✭✭✭✭

    @coinkat said:

    This type activity leads me to believe that there is room for a return to evaluations based on rarity and surviving population over flash and what can be promoted just because an adequate supply exists to make promotions worthwhile.

    Buyers (notice I didn't just say collectors) have increasingly chosen quality over rarity. Both are important to me but I definitely consider rarity in slightly or even noticeable lower quality preferable as long as the coin is decent for the price.

    This particular coin has a high preference since it's a large gold coin. Concurrently, even within other British gold, I presume I could check the Heritage archives and find many others I would rather own for a similar price or much less. I have done so before but don't remember specifics now.

    This sale is an example of financialization run amok in collecting.

  • 7Jaguars7Jaguars Posts: 7,228 ✭✭✭✭✭

    I quite agree with the above. IMO, the coin would be overvalued at 50k and give pause at 25k. And still there is quality and rarity at very high, but more reasonable prices.

    Love that Milled British (1830-1960)
    Well, just Love coins, period.
  • thefinnthefinn Posts: 2,653 ✭✭✭✭✭

    The power of the Coin Registry!

    thefinn
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