Need advice please -- Is this a good deal?

GoldCoinLover

I collect gold coins. And I especially like gold soveriegns. This coin in paticular has about 5 days left, its MS-63 in an ANACS slab 1871 date.(The coin appears to be to the side a bit in the slab?) "scarce" (That's what he said, is it really scarce?) shield gold soveriegn. I think it seems like a pretty good deal. Here's the link to it

Thanks folks.

wybrit

The coin catalogs for $275.00 but remember that the price of gold was $285.00 an ounce when the book was published...

This statement is not relevant to the coin's value. The coin has collector value worth much more than just its gold bullion value of around $91.

Spink catalogue value is £250, which is currently about $450 right now. If it can be bought for Krause price of $275, then it is a great deal.

Given that there are over five days left in the auction, I would guess the closing price will go at least $350 and probably much more - I'm not much of a sovereign expert, though.

Speaking of bullion value, I don't watch the precious metal market very often, but I see the indeces have fallen sharply in April, especially silver, which has dropped a whopping 25%!

wybrit

...is it really scarce?

Compared to other dates and mintmarks of its time, no. It has one of the larger mintages (over 8 million).

That said, any Victorian date would be considered scarce in uncirculated and unscuffed condition.

Sylvestius

i used to collect shield reverse sovereigns and i can tell you for a fact that 1871 is not a scarce date it is infact one of the most commonly encountered ones in the higher grades.

It's not like it's a 1858 or anything...

But i'd say it's going for a decent price, Coincraft lists £230 in UNC, which is about $400, but Coincraft prices are at the top end of the market, someone with a Spinks could tell you the average price it should go for.

wybrit

In British Coin Market Values for 2004, the price of an UNC 1871/die # is £150 ($270). That book is probably more realistic for actual market value than Spink, but coins on ebay are selling for more than that. I'll stick with my guesstimate of $350 for the closing price...

Aethelred

I like the coin and think that BU Victoria YH Sovereigns have good upside.