St James Auction today

[pokal02 43]

Managed to get the lot I wanted, although did pay more than it's worth. Not as bad as the 1888 crown in AU which fetched £1,488 gross - was this bonkers or have I missed something (it wasn't a 'wide date')? I wouln't have paid more than £300 for it!

[VickySilver 775]

Yes, and the broadstruck 1960 crown at 3600 POUNDS!!!!

[Prax 80]

Market is on the up for choice pieces.

Seems like a sellers' market at the mo across the board for milled coins. What's the market like for the other categories (hammered, Ancient) - anyone?

Edited May 20, 2015 by Prax

[azda 973]

Also on the up but for high grade, VF+

[VickySilver 775]

Interesting that the 1874 sov struggled at 2100....Not a good result IMO. The other "lesser" sovs struggled as well.

[azda 973]

Nobody wants to pay over bullion on later Sovs

[Rob 3,002]

I didn't get the one I wanted - the H8 sovereign penny with the trefoil mark. Opened at 200 which is about 275 delivered, so too much.

[azda 973]

I didn't get the one I wanted - the H8 sovereign penny with the trefoil mark. Opened at 200 which is about 275 delivered, so too much.

I'm not a fan of this "it's too much" Somewhere along the line coin prices rise. I remember Rob you showed us a Cromwell Crown/halfcrown, can't remember what it was Off hand, but when you posted it you Said you paid over the odds for the coin, at the time i think you mentioned a figure of 2k which people Said was "over the odds" but now its not "over the odds" it's now valued at 2k more.

Eventually, surely, if its a long term investment (as long as its not going "over the odds") a few £s more now will reap the benefits later. Uncommonly good hammered coins are worth pushing the boat out a Little more, thats only my opinion, but i remember the ebay fight WE had over an ER I threepence this year, was that over the odds?

Edited May 21, 2015 by azda

[Paulus 1,942]

Acquiring coins for investment (whether short, medium, or long term), as a collector, or as a dealer (typically for a quick turnaround at a profit) are different mindsets and strategies to me. I don't know which of these Rob is referring to, but whichever it is, it is relevant to him, and everyone has a value above which it is 'too much', whatever their reasons for wanting to acquire a coin. In the current climate it is tempting to pay more for high grade coins, but who knows what the future holds ...

[azda 973]

Acquiring coins for investment (whether short, medium, or long term), as a collector, or as a dealer (typically for a quick turnaround at a profit) are different mindsets and strategies to me. I don't know which of these Rob is referring to, but whichever it is, it is relevant to him, and everyone has a value above which it is 'too much', whatever their reasons for wanting to acquire a coin. In the current climate it is tempting to pay more for high grade coins, but who knows what the future holds ...

Exactly what i mean, "who knows what the future holds". I remember maybe 3 years back when maundy sets started exploding into life and prices rocketed. My "investment" quote may be taken out of context, but each coin we buy is an Investment for your future or your Kids etc etc, i don't See why paying a little more now will hurt later if its a Long term thing. Granted i've not seen the H8 that Rob mentioned, but if he was willing to bid then it had to be none too shabby.

[Rob 3,002]

OK, I'll rephrase it. It wasn't £275 special. It wasn't completely round and crisply struck, nor is it virtually unobtainable.

[Nicholas 51]

Interesting fact

The only coins I have made a notable profit over a 3-7 year turnaround are those coins that I won at auction that were the highest amount ever paid for a coin of that example (albeit between 2-10kGBP). In every case I was criticised at the time of the sale..of course I'd done my homework knowing they were also just about the best example I could find in any previous sale of those coins...

Edited May 21, 2015 by Nicholas

[azda 973]

Interesting fact

The only coins I have made a notable profit over a 3-7 year turnaround are those coins that I won at auction that were the highest amount ever paid for a coin of that example (albeit between 2-10kGBP). In every case I was criticised at the time of the sale..of course I'd done my homework knowing they were also just about the best example I could find in any previous sale of those coins...

It makes you wonder how dealers survive then......

[Rob 3,002]

Interesting fact

The only coins I have made a notable profit over a 3-7 year turnaround are those coins that I won at auction that were the highest amount ever paid for a coin of that example (albeit between 2-10kGBP). In every case I was criticised at the time of the sale..of course I'd done my homework knowing they were also just about the best example I could find in any previous sale of those coins...

It makes you wonder how dealers survive then......

It's hard work if it is your only job

[Nicholas 51]

I love my hobby - I've been accused of being a touch obsessed! People ask if I would make it my job and I always say never! this would kill it for me...I could never be a dealer.

[Rob 3,002]

Much easier to deal if you don't collect, or at least only a very restricted period

[TomGoodheart 373]

Interesting fact

The only coins I have made a notable profit over a 3-7 year turnaround are those coins that I won at auction that were the highest amount ever paid for a coin of that example (albeit between 2-10kGBP). In every case I was criticised at the time of the sale..of course I'd done my homework knowing they were also just about the best example I could find in any previous sale of those coins...

It makes you wonder how dealers survive then......

Yes. It's clear a profit can be made, particularly if you select from amongst the best known examples.

But the timeframe needed to make a profit would tie up funds for significant periods ... Unless you're a millionaire to start with you'd need to balance potential gains with cash-flow somehow ... I'd imagine there are many 'better' businesses, where profits can be realised almost straight away.

[azda 973]

It certainly can't be an easy task, but how would you sell a coin that was already overpriced as we've seen from the Slaney auction, i don't believe that everyone who has bought from that auction to be a collector, so will the name (provenance) sell it, but at what cost?

I get the coin news every month and they have a "meet the dealer" section and a normal question is "Do you collect" and almost all have said no because they've used the collection to start up their business, you seem to be an exception to that rule Rob

[Nicholas 51]

What I might do one day and this would be a fun challenge for me, but I reckon I could redesign a new online coin auction house taking what I see as the best features / business models from all the big houses and create a new user friendly / powerful coin dealer business. Then hand it over....

There are good and weak features from each coin site currently IMO..and I have some ideas that none use...

Edited May 21, 2015 by Nicholas

[pokal02 43]

I'm starting to think Anglo-Saxon, which has gone up more than anything in the last 10 years, has overheated. Nearly all the early stuff at Baldwin's 2 weeks ago was unsold, yesterday was very patchy with most, even quite rare stuff (Cuthred & Bertwulf) going for under low estimate. At a recent Spink I got a Wulfred 1d @ £950 - £2,850 having been asked for the same coin in Spink N Circ in 2007!

[Rob 3,002]

Anglo-Saxon has been under a bit of pressure due to the quantities being found. If you are digging up say two dozen Offa pennies every year, this has to impact on the prices - which is one where there has been a softening of prices.

[Rob 3,002]

It certainly can't be an easy task, but how would you sell a coin that was already overpriced as we've seen from the Slaney auction, i don't believe that everyone who has bought from that auction to be a collector, so will the name (provenance) sell it, but at what cost?

I get the coin news every month and they have a "meet the dealer" section and a normal question is "Do you collect" and almost all have said no because they've used the collection to start up their business, you seem to be an exception to that rule Rob

I hae trickled out the surplus over the years. I even have a handful left to go, but if I was to sell the collection I would then have to start again. I don't believe I could reassemble it in either a reasonable timeframe or in suitable quality. The last 5 or 6 years have been very difficult to find things to add at reasonable prices.

[Colin88 54]

It certainly can't be an easy task, but how would you sell a coin that was already overpriced as we've seen from the Slaney auction, i don't believe that everyone who has bought from that auction to be a collector, so will the name (provenance) sell it, but at what cost?

I get the coin news every month and they have a "meet the dealer" section and a normal question is "Do you collect" and almost all have said no because they've used the collection to start up their business, you seem to be an exception to that rule Rob

I hae trickled out the surplus over the years. I even have a handful left to go, but if I was to sell the collection I would then have to start again. I don't believe I could reassemble it in either a reasonable timeframe or in suitable quality. The last 5 or 6 years have been very difficult to find things to add at reasonable prices.

I've bought and sold two significant collections over the last 40 years...the last was about 2 years ago....I think I'm about to embark on the third ....I cant get it out of my system.!....

So if anyone out there has a single collection of any English or Scottish coins (Gold, silver, bronze, hammered or milled ) they want to sell in one lot to get me kick started as I'm knocking on a bit, then do please let me know !

[Peter 615]

I kid myself I buy to sell but I don't.

The last count I had 14 Mitchell fishing reels numerous other makes and over 20 rods.

My coins are a habit.

i've got loads of 1859 farthings.