Penny Acquisition of the week

[RLC35]

3 minutes ago, PWA 1967 said:

I do understand Bob and look at prices daily........I have nothing better to do 

The coin in question though is 1912 H  and completely different to a rare 1877 narrow date.

If you get what your asking good luck to you and was more a question.

I will look forward to you selling it as will set a guide 

 

I appreciate your response, but you are missing the point. It has nothing to do with rarity, it has to do with the variation in a price guide, and actual valuation of a coin. The price guide is always a historical reference, while actual valuation is whatever the market will bear...today. btw... the market sale price is not always up, it can also be down.

[Rob]

11 minutes ago, RLC35 said:

 

You have to remember Pete, Spink is just a guide, and no more. The pricing in the book is at least 1 year behind valuation. due to research time, and publishing time. An example...a small date 1877 penny listed in Spink $1500 pounds(AF), I sold to a major player for $15,000! So much for Spink valuations. 

When the supply is so limited, prices can go anywhere. A better guide is for those which are readily obtainable, or can reasonably be expected to appear within the near future. Good if you can get such a large premium on a single sale, but would you get the same if the sale fell through and you had to relist it, or if another came up? How much would it go for in this instance?

Virtually every area has a big spender willing to outdo the opposition, but that in itself doesn't make a strong market. You only have to look at Stanley Gibbons, who had to restate their accounts after one client failed to go through with a purchase resulting in restated accounts - half a million profit became half a million loss.

[PWA 1967]

Weather i am missing any points maybe.

£718 for a 1912H seems vastly overpriced and if i am missing something maybe i am glad 

[VickySilver]

Have to say, wishing best to  you Bob but that even at "65RB", that seems high by a couple hundred pounds. By recall I have a slabbed "65" though can't remember the firm bought at 200 USD (may have been ANACS) and is a very nice bit. I just can't get excited by this date. Of the 20th C mint marked pennies, maybe a 1919H would bring big money if fully struck and mostly original mint red (read RB).

[RLC35]

40 minutes ago, PWA 1967 said:

Weather i am missing any points maybe.

£718 for a 1912H seems vastly overpriced and if i am missing something maybe i am glad 

You are missing the point! 

[PWA 1967]

14 minutes ago, RLC35 said:

You are missing the point! 

Will save a few fireworks and let them off when you sell it 

[1949threepence]

1 hour ago, RLC35 said:

 

You have to remember Pete, Spink is just a guide, and no more. The pricing in the book is at least 1 year behind valuation. due to research time, and publishing time. An example...a small date 1877 penny listed in Spink $1500 pounds(AF), I sold to a major player for $15,000! So much for Spink valuations. 

Of course, and by the time you come to look at the book price, it may well have moved on from there. 

That said, much as I would absolutely covet a small date 1877 in AF, I wouldn't pay $15k for one. So that was a decent sale you got there, Bob. There is a certain cache attached to a small date 1877. Obviously there are other varieties within specific dates, which are just as rare, but which wouldn't fetch anywhere near what a Freeman 90 would attract. I suppose they are so instantly recognisable.    

I do take Pete's point about the 1912H - even in BU, £2k is absurdly expensive, as they are not actually that rare.

  

 

Edited November 7, 2016 by 1949threepence

[RLC35]

1 hour ago, 1949threepence said:

Of course, and by the time you come to look at the book price, it may well have moved on from there. 

That said, much as I would absolutely covet a small date 1877 in AF, I wouldn't pay $15k for one. So that was a decent sale you got there, Bob. There is a certain cache attached to a small date 1877. Obviously there are other varieties within specific dates, which are just as rare, but which wouldn't fetch anywhere near what a Freeman 90 would attract. I suppose they are so instantly recognisable.    

I do take Pete's point about the 1912H - even in BU, £2k is absurdly expensive, as they are not actually that rare.

  

 

I agree 1949, 2000 is way too high.

[Bernie]

18 minutes ago, RLC35 said:

I agree 1949, 2000 is way too high.

£200 max for a BU 1912H, there are more of these now in existence than a 1912 standard. Same goes for 1951, more common than 1949 in BU.

[Nordle11]

16 minutes ago, Bernie said:

£200 max for a BU 1912H, there are more of these now in existence than a 1912 standard. Same goes for 1951, more common than 1949 in BU.

What makes you say that, Bernie? Just given the mintage quantities and the fact that all 1951s were shipped to Bermuda once minted.

I don't disagree that there's plenty of BU 1951s out there, but more than the amount of BU 1949s?

[terrysoldpennies]

9 minutes ago, Nordle11 said:

What makes you say that, Bernie? Just given the mintage quantities and the fact that all 1951s were shipped to Bermuda once minted.

I don't disagree that there's plenty of BU 1951s out there, but more than the amount of BU 1949s?

As soon as the location of the 1951s was know people started hording them in mint condition , unlike the 1949  . The 1912h is another one that was horded , where as the 1912 most were melted down in the 1960s.  Terry

[Nordle11]

Definitely a factor in it, but 120k 1951s against 14 million 1949s, I just don't see it.

I mean, I notice 1951's more than 1949's, because it's much more valuable and dealers will probably give it priority compared to a 1949.

I was just curious.

[terrysoldpennies]

1 minute ago, Nordle11 said:

Definitely a factor in it, but 120k 1951s against 14 million 1949s, I just don't see it.

I mean, I notice 1951's more than 1949's, because it's much more valuable and dealers will probably give it priority compared to a 1949.

I was just curious.

The thing is that the 1951 has on over inflated reputation, and you cant blame the dealers from cashing in on it. Being one of the older generation I can tell you that people had more on there mind , and little money then to indulge in coin collecting. The boom really came in the 1960s when the introduction of decimal coinage was announced .    Terry

[1949threepence]

1 hour ago, terrysoldpennies said:

The thing is that the 1951 has on over inflated reputation, and you cant blame the dealers from cashing in on it. Being one of the older generation I can tell you that people had more on there mind , and little money then to indulge in coin collecting. The boom really came in the 1960s when the introduction of decimal coinage was announced .    Terry

Looking back at the old Coin Monthly magazines from the late 1960's, some of which I bought from Rob a couple or so years ago, it's abundantly clear that there was little short of a mania for 1950 and 1951 pennies.

For example in the August 1969 edition of the mag, Stewart Ward of London was offering an UNC 1951 at £22 (£326 corrected for inflation as at 2015). By contrast Ray Bennett of Sutton Coldfield was offering a BU 1949 at £1-17-6d (£1.875) and £27.83 today, corrected for inflation. Also offered was a 1953 BU penny at £6, which, incredibly, you could get for less than that today in absolute terms, let alone a correction for inflation.

In the "market movements" section of the mag, a 1951 penny in BU is shown at £20.

Just shows what heady days they were in the coin market. 

      

[Bernie]

When the pre decimal coinage was in circulation, the 1912H penny was as common as the 1912 penny. It is equally likely that 1912H pennies were saved in UNC because they were unusual. Most 1951 pennies still survive, far more than the number of penny collectors. A coin is not rare if almost every dealer has a selection of them.

[RLC35]

2 hours ago, Bernie said:

When the pre decimal coinage was in circulation, the 1912H penny was as common as the 1912 penny. It is equally likely that 1912H pennies were saved in UNC because they were unusual. Most 1951 pennies still survive, far more than the number of penny collectors. A coin is not rare if almost every dealer has a selection of them.

 

The 1951 Pennies were released in one of the Carribean Islands (I think Bermuda), and were extremely common in the United States. In the late sixties, Gem BU examples were available for $8-$10 each.

[PWA 1967]

7 hours ago, RLC35 said:

You are missing the point! 

Can you please spell it out for me 

£718 for a 1912 H ?

Edited November 7, 2016 by PWA 1967

[RLC35]

16 hours ago, PWA 1967 said:

Can you please spell it out for me 

£718 for a 1912 H ?

 

H-a-r-d  H-e-a-d  !  jk..... Hope you can take a little kidding.....

[PWA 1967]

B-E-H-A-V-E........Y-O-U-R-S-E-L-F 

[VickySilver]

OK, be nice now!

I think I can find an RB higher graded '12H for a competitive price! LOL!

[azda]

Another "not a penny" coin, yet another halfpenny on a farthing flan

[Nordle11]

On 7/11/2016 at 5:29 PM, terrysoldpennies said:

The thing is that the 1951 has on over inflated reputation, and you cant blame the dealers from cashing in on it. Being one of the older generation I can tell you that people had more on their mind , and little money then to indulge in coin collecting. The boom really came in the 1960s when the introduction of decimal coinage was announced .    Terry

I like that, shame it's not a penny on a ha'penny!

[Peter]

Looks much better on a farthing flan...but farthings are the dogs boll00cks.

[Colin G.]

8 hours ago, azda said:

Another "not a penny" coin, yet another halfpenny on a farthing flan

I really like that if it is genuine, it just seems too central. I assume you have had a good look at the edge of the coin?

[azda]

1 minute ago, Colin G. said:

I really like that if it is genuine, it just seems too central. I assume you have had a good look at the edge of the coin?

I just bought it Colin, when it arrives i'll be looking it over