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2018 Krause 1901-2000 World Coin catalogue: surprising price drops!
gscoins
Posts: 288 ✭✭✭
A visit to our local library resulted in my being able to borrow a brand-new 2018 Krause for 1901-2000. I took a look at the countries I am most interested in. Most had no changes from 2017, but not so Ireland!!
The 2018 lists major price drops for the tougher Irish Free State and Republic coins. A few examples:
1933 half penny: 2017 MS 60 $465...2018 MS 60 $150
1937 penny: 2017 MS 60 $70...2018 MS 60 $50
1943 3 pence: 2017 MS 60 $80...2018 MS 60 $25
1937 shilling: 2017 MS $1,200...2018 MS 60 $575
1931 florin: 2017 MS 63 $800...2018 MS 63 $450
1933 half crown; 2017 MS 63 $1,200...2018 MS 63 $500
I have not noticed Irish coin prices dropping this significantly in the recent past. Anybody got any thoughts?
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Dang, those are significant decreases! Maybe they've been overvalued for a good while?
MS60 is an awful grade for almost all Free State Irish. The price adjustments may actually be in order, but I would have preferred the elimination of the grade. 63 or Choice Unc would be far more useful.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
What kind of 'local library' would have a copy of the newest edition of the SCWC that was first offered to the public just a few weeks ago???
The 'framing' of your story doesn't pass the smell test.
Well, our local library is pretty good. Here is a photo that I just took of the cover of the 2018 Krause with the library's sticker on it. I hope that is enough to pass the "smell test."
More substantively, the 2018 now lists MS 60, MS 63 and MS 65 prices, whereas the 2107 carried only some MS 63 pricing. However, even there the price drop is noticeable. For example, the 1937 shilling in MS in 2017 was listed as at $1,200 in MS 60. The 2018 has it at $1,000 in MS 65. The MS 65 price in the 2019 catalogue for the '43 3d is $75, while in the 2017 the MS 60 price is $80.
Anyway, you all can see the changes when you take a look at the 2018 Krause. I thought you might find what I discovered of interest.
The Yellowstone Caldera will explode four times before you see a copy of the 2018 SCWC/ twentieth century at our public library.
It would be helpful to compare the catalog prices to auction records.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
What does it list for a 1933 1/2 crown in 65?
Latin American Collection
In response to Andy's comment, I did a little search of the Heritage auction records for 2015 to date. In some cases, the price reductions seem unwarranted, in others, they are justified. For example, Heritage sold a 1939 shilling in PCGS 65 in April 2017 for $763.75 (including buyer's premium), versus a 2018 Krause listing of $90 in 65. A 1937 half crown in NGC 62 sold for $1997.50 (with buyer's premium) as against the 2018 Krause prices of $1000 for MS 60 and $2000 for MS 63. A NGC 61 1931 half crown sold for $188; the 2018 Krause lists a 60 at $200. A 1931 red brown penny, PCGS 64, went for $193.88; the 2018 Krause gives a price of $50 in MS 63. As always, the specific coin's condition has a huge impact; the '39 shilling is blast white with great luster.
The 1942 silver coins, which I believe were issued in mint sets (hence are more common), present the most interesting situation. Heritage sold an NGC 65 '42 shilling in Sept. 2015 for $188 (vs. MS 65 listing of $50), three '42 NGC 65 florins in July '16 for $79, $89 and $141 (against a 2018 Krause price of $75 in 65), and 3 NGC '42 halfcrowns (in May '17, April '17 and September '15) for $109, $129.25 and $105.75 respectively (as opposed to the 2018 Krause of $90 in 65). The NGC 65 shilling has beautiful blue toning, which had an impact on the bidding, I suspect.
It may be there simply aren't enough auction transactions to tell a reliable story. Heritage sold a grand total of 8 Irish silver shillings (1928 to 1942) over 2015 to date and 12 florins and half crowns (each, excluding the prohibitively rare '43 copies) over that same period. The Stacks Bowers auction archives reveals very few sales of any Irish Free State or Republic coins during that same time.
Boosibri, apologies. My second post was less than clear: the 2018 Krause doesn't list the Free State coins in any grade beyond 63. Virtually all of the Republic coins are so listed, although the 1940 penny and the 1961 2/6 mule, which are quite rare in mint state, are listed only up to 63. As I mentioned in my original post, the 1933 half crown in 63 is listed at $500 in 63.
By PCGS standards, it would be difficult to overvalue many if these coins in top grades. In lower MS grades, quite easy.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Like this one?
Latin American Collection
Yep. How many do you think might exist in that condition or better? I'd bet it's R-7.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
Wow, that's one gorgeous half crown! Checking the certificate and the PCGS population report makes it pop top at MS 66 NGC has one at 66 as well). I am inclined to agree with Andy on rarity. So, very hard to tell what it would get if auctioned. Nine years ago, I bid on a NGC 63 '33 half crown at Heritage and got absolutely blown out of the water; the final price was $1265!! I still don't have one
Thanks for sharing the photo...
The NGC 66 is the same coin I think as I crossed this coin from N66. There is a 1934 2/6d MS67 which last time I checked was the only Free State piece graded higher.
Latin American Collection
Hmm, could be a good time to think Irish as an aside me thinks.