How much is my Oenny Worth

[Schhokarcoins]

Hey my grandad gave me this one penny a decade or so ago and on the back it has stamped on it "in loving memory, lord hitchner, drowned, HMS Hampshire, 5th June". What would the value of this coin be?

https://www.dropbox.com/sh/t14mdbvhw7osd29/AAAK74MgAVGZYVflnR_dB-_Qa?dl=0

[Debbie]

Hi Schhokarcoins   the coin has been engraved rather than stamped. 
Engraved coins are always difficult to value as they are usually only worth as much as a particular collector is willing to pay. I would probably pay up to about £30, but with its obvious reference and date  you may have more luck if you put it on Ebay under trench art.  

[mrbadexample]

Recessed ear variety too. ?

[bagerap]

There is a small discrepancy here. The engraving is not contemporaneous. Kitchener died in June 1916 and this coin has seen some heavy circulation before being engraved. There are three groups of likely collectors for items such as this: Boer War, WWI and engraved coins. I think they would all be a little wary of this one.

Debbie's valuation is, I think, about 25% above the market.

[bhx7]

What makes you feel that the circulation did not occur after it was engraved.

[Debbie]

Certainly the wear around the inner rim where it is recessed would suggest wear post alteration. 

[bagerap]

Pieces like this don't circulate. Either a collector or a bank pulls them out fairly quickly. There is also too much overall wear for a "pocket piece". I wouldn't be comfortable putting it in my shop.

[Debbie]

I take your point that the engraving may have been done later than 1916, but there are tokens out there that see lots of wear post engraving.
Here's one on the bay of a similar design and same year, again showing lots of wear on the inner rim. Obviously not the same subject  matter, but will give another indication of price.here

[bagerap]

That's very nice Debbie, and reasonable. If I weren't so overstocked I would have had that.