Extremely Rare Victoria 2mm Penny. 1895. CGS EF. Ebay

[IanB]

I have been keeping an eye on this coin on eBay

http://www.ebay.co.uk/itm/Extremely-Rare-Victoria-2mm-Penny-1895-CGS-EF-/321939588551?hash=item4af51845c7:g:R90AAOSwAKxWYcef&autorefresh=true

With the intention of bidding on it but it looks like there is a lot of interest in it, so probably will not get involved in an expensive bidding war particularly this close to Christmas.

Anyway in an an attempt to learn a bit more on the subject I notice that the coin has been graded by CGS but it has a reject verdigris tag on it could anyone explain what this means and how it effects the price one might be expected to pay for it. Do they reject for any other things?

I have had a look on some other selling sites and there are a couple of examples on a site called Colin Cooke coins.

2mm. GEF traces of lustre £875 & 2mm. Unc Good Lustre/BU Almost Full Lustre (Slabbed CGS 75) £995.

At some point I would like to start purchasing some high quality coins but I understand I have a lot to learn. I am happy to make some cheap mistakes but would really prefer not to make any expensive ones.

[jacinbox]

Verdigris is a Green substance that sticks to coins, like rust does to iron. It corrodes coins and can hence have a serious say on what the coin is worth.

CGS reject coins with verdigris. They will encapsulate the coin but won't give it a grade.

I would reckon this coin will top at around £180.

[jacinbox]

Welcome to the forum.

[IanB]

Thank you for getting back so quickly on this. So when the seller states that it has been graded by CGS as EF, they are not being truthful?

[PWA 1967]

Verdigris is a Green substance that sticks to coins, like rust does to iron. It corrodes coins and can hence have a serious say on what the coin is worth.

CGS reject coins with verdigris. They will encapsulate the coin but won't give it a grade.

I would reckon this coin will top at around £180.

The coin is still given a grade JAC

[Nordle11]

From their website;

"CGS will encapsulate such coins as they would be gradable in the traditional market but would attract additional descriptions accompanying the grade which describe the problem. The CGS ticket will reflect this and include the main grade F,VF,EF,UNC which CGS consider the coin to be and also a single phrase description the problem. The normal My Page functions will not be available as CGS will not value such coins."

Link

[IanB]

Thank you Nordle, the link to their site is very useful for future reference. I can see how getting their grading can increase or decrease the value of a coin.

So far the price is £127 and climbing.

[jacinbox]

Verdigris is a Green substance that sticks to coins, like rust does to iron. It corrodes coins and can hence have a serious say on what the coin is worth.

CGS reject coins with verdigris. They will encapsulate the coin but won't give it a grade.

I would reckon this coin will top at around £180.

The coin is still given a grade JAC

True but not the number if you see what I mean. It's like the American TPGCs they will say UNC Details but not MS^$RB for instance. Similarly CGS would say XF but not say CGS 70. I should have been a bit more clear :-)

Any purchases of late?

Edited December 11, 2015 by jacinbox

[PWA 1967]

Just coppers Gary a few varieties and just sent 24 to CGS mainly bramah numbers.

[DaveG38]

Be very careful of this seller. He's the guy who pissed me about and lied through his teeth about his 1882 no-H penny, all because he didn't get the price he hoped for. Ebay suspended him for a while for trading against their rules, but obviously he's back. CAVEAT EMPTOR!!!!

[1949threepence]

I got mine for £231 from e bay, back in December 2012.. Had a start price of £225, and I think there was only me and one other bidder at the end.

[Nordle11]

That's a goodun, worth every penny. The strikes on the later series are truly wonderful, especially the reverses.

[1949threepence]

That's a goodun, worth every penny. The strikes on the later series are truly wonderful, especially the reverses.

I was astounded in a positive way, to get it for that price. In fact the ones to look out for are those that are on auction with a high starting price, but one which is lower than the coin's true value. I've noticed, time and time again that, so often, they attract no serious attention and end up going for little if any more than that original low starting price.

[Nordle11]

I'd say that's pretty accurate, based on what I've seen from watching/buying lots and also starting them at a price I would be 'happy' to take for a coin but is something under its real value, I've not attracted nearly as much interest as a 99p starter.

On the 99p lots it's normally the first 2 days gaining watchers and a bid or 2 at 99p, then the next 4 days getting to about half its value and picking up a couple of extra watchers and finally a mad rush of bids at about 5-20 seconds before it finishes. Whereas higher starters just grab a bid or 2 and to be honest I do sometimes myself skip past them, there's certainly an attraction to a 99p starter.

[azda]

My old one

[1949threepence]

Did you ever manage to flog that one, Dave?

[Danz]

Here is mine.Not as nice as the others but fills the gap.

[Nordle11]

Definitely NOT a gap filler Danz, that's a cracking coin! Love the chocolaty tone on it

[Danz]

Cheers Nordle but want to upgrade to EF+

[azda]

Did you ever manage to flog that one, Dave?

Yes