1696 Great Britain Sixpence ... same coin, 3 auctions, price plummets

WorldTypeSet · September 3, 2012 1:41PM

A PCGS MS65 graded 1696 Great Britain Sixpence sold this past weekend on eBay. I managed to track down a few recent sales of the exact same coin ...

Heritage, 5 Jan 2009, $747.50
Heritage, 13 Apr 2010, $517.50
eBay, 2 Sep 2012, $402.77

It's not a Top Pop, nor is it the nicest MS65 from that year (the Guilford Courthouse Collection coin was much nicer, and sold for $1265 in the 13 Apr 2010 Heritage auction). But, I find the price drop is rather surprising.

Are we really experiencing this level of price decline?

Zohar · September 3, 2012 1:48PM

In my collecting sphere I see inflationary forces for high grade. Deflationary for average graded coins.

MrEureka · September 3, 2012 3:05PM

The coin is common in this condition and has been regularly available for $400 or less in London, although most are not slabbed. Therefore, it's not surprising that prices for slabbed pieces have dropped down to those levels.

And while we're on the subject, it's worth mentioning that prices for most legitimately rare British coins have significantly strengthened over the past few years.

JCMhouston · September 3, 2012 10:36PM

Agreed, the normal things are going down, the very high grade and the very rare are both doing well though.

marcmoish · September 3, 2012 10:59PM

If it helps - there is no way in hell the first two examples are 65 - the most recent "looks" 65 but can't tell from the scans so its a guess - I agree the market is abt 400 bucks and not that anything is caving in

.....

1960NYGiants · September 4, 2012 12:04PM

<< <i>If it helps - there is no way in hell the first two examples are 65 - the most recent "looks" 65 but can't tell from the scans so its a guess - I agree the market is abt 400 bucks and not that anything is caving in

..... >>

Check the slab SN - it is the same coin in each auction.

I agree with Andy's analogy. The same price effect is happening in the Canadian market.

WorldTypeSet · September 4, 2012 12:18PM

So, is Heritage out of step with the market in this auction ... 1696 Great Britain Sixpence, PCGS MS64 ... with a reserve of $705 (including the Buyer's Premium)?

lordmarcovan · September 5, 2012 12:32AM

This might not be entirely relevant, since it's from a whole 'nother level of the market, but...

I was frankly astonished at how MY 1696 sixpence just did on eBay.

I got it practically for free, so basically the first bid was icing on the cake. To my amazement, it just kept going up.

And to think I was gonna probably ask $9-10 on BST. Wow.

SYRACUSIAN · September 5, 2012 2:49AM

<< <i>So, is Heritage out of step with the market in this auction ... 1696 Great Britain Sixpence, PCGS MS64 ... with a reserve of $705 (including the Buyer's Premium)? >>

When there is a reserve, it's the consignor's decision. In this case, he's either too optimistic, or he paid more than the current FMV and hopes to get it back.

Rob, funny that you posted your sixpence in this thread. The Greek market right now, has buyers who will pay strong money for top rarities or condition rarities, otherwise the only other sector with some movement, is the VG-gF category, preferably no reserve.

marcmoish · September 5, 2012 3:30AM

hey Gene yup I missed the title - didn't realize its the same piece

Paul that 64 example I actually like - nice eye appeal and well graded.
I'll let the experts mix in with price comments

Pokermandude · September 5, 2012 3:34AM

I've seen similar drop offs in price over the same timespan on some Canadian and other world coins as well. One has to remember that often times on Ebay the prices realized are wholesale/way back of price guide prices. The Heritage auction realized prices also include the BP.

1696 Great Britain Sixpence ... same coin, 3 auctions, price plummets

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