Price help....5 pound Great Britain Gold Sovereign

msassin

Any past auction sales or idea if there is a large premium for a NGC MS62 - 1887 5 Sovereign? Thanks in advance.

JohnnyCache

5 Pounds?


Krause says $3250 Unc

Heritage shows an NGC 63 from 2009 that sold for $2070, an NGC MS61 from 2010 that sold for $1955 and the one from the picture was in 2005...

I can't find any recent sales for a MS 62



I realize that this isn't likely to be all that helpful given the time span but it was all I could find.

msassin

<< <i>5 Pounds? >>



Here is something similar on eBay (I need an NGC MS62 price though)

PCGS MS63

RobP

The price would depend on the slab contents and not the number. MS62 implies quite a few imperfections and probably no better than a better than average British EF, but that is without seeing it in the flesh. A price of about £3K for an unc with a small surface mark or two would not be unreasonable. Reduce that to somewhere around £2200-2500 for a decent EF. Having seen slabbed 62s that are better than 65s and vice-versa, it would be wrong to second guess the condition and therefore the value of the actual coin in question. Obviously a premium might be applicable for an undergraded coin, but equally it could be overgraded.

msassin

Thanks JC and RP for the info

SYRACUSIAN

£5 1887 NGC MS62 January 6-7 2013, Heritage, NYINC: $2700+17.5%= $3172.50

SYRACUSIAN

<< <i>The price would depend on the slab contents and not the number. MS62 implies quite a few imperfections and probably no better than a better than average British EF, but that is without seeing it in the flesh. A price of about £3K for an unc with a small surface mark or two would not be unreasonable. Reduce that to somewhere around £2200-2500 for a decent EF. Having seen slabbed 62s that are better than 65s and vice-versa, it would be wrong to second guess the condition and therefore the value of the actual coin in question. Obviously a premium might be applicable for an undergraded coin, but equally it could be overgraded. >>




Rob, I have no reason to disagree with you on anything. However I have recently noticed a rather large difference between English and US prices on 1887-1911 coronation proof gold sets, which I believe that they can be found in US auctions, in excellent shape, graded, at seriously lower prices than in England.

I was recently checking out the whereabouts of the price of the 1911 gold proof 4 coin set, and I found one at £7500 in London, raw, and then a week later, a properly graded set sold for $6500 (com. incl.) at Stack's (half sov PR64+DCAM, sov PR65DCAM, £2 PR64+DCAM, £5 PR65, all PCGS). I don't think that the raw set was of similar quality, and yet the asking price was almost double of the one at Stack's. I can only deduce that US bidders (and dealers) don't really take Spink values so seriously, and that the £/$ currency exchange rate favors purchases in the US.

RobP

<< <i>

<< <i>The price would depend on the slab contents and not the number. MS62 implies quite a few imperfections and probably no better than a better than average British EF, but that is without seeing it in the flesh. A price of about £3K for an unc with a small surface mark or two would not be unreasonable. Reduce that to somewhere around £2200-2500 for a decent EF. Having seen slabbed 62s that are better than 65s and vice-versa, it would be wrong to second guess the condition and therefore the value of the actual coin in question. Obviously a premium might be applicable for an undergraded coin, but equally it could be overgraded. >>




Rob, I have no reason to disagree with you on anything. However I have recently noticed a rather large difference between English and US prices on 1887-1911 coronation proof gold sets, which I believe that they can be found in US auctions, in excellent shape, graded, at seriously lower prices than in England.

I was recently checking out the whereabouts of the price of the 1911 gold proof 4 coin set, and I found one at £7500 in London, raw, and then a week later, a properly graded set sold for $6500 (com. incl.) at Stack's (half sov PR64+DCAM, sov PR65DCAM, £2 PR64+DCAM, £5 PR65, all PCGS). I don't think that the raw set was of similar quality, and yet the asking price was almost double of the one at Stack's. I can only deduce that US bidders (and dealers) don't really take Spink values so seriously, and that the £/$ currency exchange rate favors purchases in the US. >>



The only thing that's certain at the moment is that prices can be all over the place. Very little is going below Spink prices in EF or better in the UK auctions, just as everything slabbed as 66 or better in the US is selling for what we would perceive as silly money. The 1901 penny that sold for $600 just because it was in a 66 slab immediately springs to mind. 1901 is a very common date, and I paid £2.21 for one about 7 or 8 years ago. I would sell it in the current market at £50 ish. Obviously it would depend on the coin in the hand, but I would find it hard to justify a price of 10x book, however good the coin. The $60K for the proof 1893 £5 also seems just a tad misplaced in its pricing. Middle and lower grades tend to go for below Spink prices or not at all over here with the obvious exception of rarities in collectable series. On the plus side for specialist collectors, the US preference for collecting bigger numbers on the slabs can work very well as real rarities can be obtained at ludicrously cheap prices due to the label. Last year I bought the William I Derby PAXS penny in the Heritage sale for a nonsensical £400 and immediately sold it on for £1400. Conversely you see Cnut pennies from common mints selling for $1000+ in the US just because someone decided to call it MS65. These are £200-300 coins in the UK. The former has 3 known with the reverse reading, all from the Beaworth hoard of 1833, the latter can be picked up in high grade from several dealers at any point in time. Subtract those in museums from both totals and it soon becomes obvious what is the better value for money.

The market is quite buoyant for the larger ticket items such as the earlier proof sets due to people identifying an item for investment purposes rather than collecting reasons. It is much easier to sell a non-collector an old dated set which would historically have a low deviation from the mean price at auction than it is to tell the same person to go out and put together a collections of halfcrowns or farthings for example. They are also easy to sell, and as a consequence hold their value.

Prices are therefore determined by what sellers think they can achieve - as was ever the case.

7Jaguars

I think Rob has an excellent point (not to pirate the thread), but a sensical and intelligent buyer can do well investigating all ends. I have managed to pick up some true rarities for very decent prices in the vacuum created by 60k 5 sob. coins. I used to be mad at the lunacy, but since I am not a buyer see it as something of an opportunity.