Entertaining Discussion of Value - The Proof 1911 Five Sovereigns

[VickySilver]

Recently, a 1911 Five Pounds Proof coin sold for 99,000 USD and there has been a bit of a discussion albeit with few participants over on CoinTalk. I almost put this up in the TPG discussion but it does apply more generally to the phenomenon over the last five or so years whereby we have seen the value of proof 5 sov. coins of the 1887-1937 vintage seemingly go through the roof, so to speak.

Personally, I don't particularly care for this development, but here it is.I can not help but imagine that such prices will encourage more such pieces to be sent into the TPGs and put up for sale and I don't blame the sellers as I would do the same despite being a terminal collector in all senses of the term....I will use iPhone to post the citation to follow:

 

 

[VickySilver]

[Sword]

Is this just a case with some US collectors chasing the highest PCGS grades and paying over the top for the "finest known"?

Would the price be a lot less if it say PF66 on the plastic rather than 67?

[blakeyboy]

You said 'Value'       --------        surely you mean 'Cost'....??

 

 

[VickySilver]

Absolutely!  I guess this apparently new influx of money and jamming prices for gold is something I hate seeing. But this type of activity is certainly seen in coins such as the 2019 Una and the Lion rehash and the current Alderney Three Graces

[Mr T]

I saw a 1937 proof five pounds listed for $25,000 AUD recently, and I remember five years ago it would have been listed for a fifth of that.

I know the price of gold has probably gone up but I would have said that five pound coins were close to the bottom in terms of popular British coins.

[Peckris 2]

1 hour ago, Mr T said:

I saw a 1937 proof five pounds listed for $25,000 AUD recently, and I remember five years ago it would have been listed for a fifth of that.

I know the price of gold has probably gone up but I would have said that five pound coins were close to the bottom in terms of popular British coins.

You na' lyin'...

(Think about it...!)

Edited February 19, 2021 by Peckris 2

[blakeyboy]

Oh that's really top quality.

10 points.

[azda]

Personally I think there are a certain number of people cashing in on grading hype because they are authorized agents of NGC or PCGS and have a vested interest in getting people sucked into the slabbing.

[Diaconis]

2 hours ago, azda said:

Personally I think there are a certain number of people cashing in on grading hype because they are authorized agents of NGC or PCGS and have a vested interest in getting people sucked into the slabbing.

Hey Azda,

Good to see you’re still kicking 👍🏽

(Numischtacker?)

 

[blakeyboy]

4 hours ago, azda said:

Personally I think there are a certain number of people cashing in on grading hype because they are authorized agents of NGC or PCGS and have a vested interest in getting people sucked into the slabbing.

Whaaaat???

And there was me thinking slabbing was a good thing to do and only made money for the coin owner!

Brezhnev never told us....

 

[Mr T]

On 2/20/2021 at 8:47 AM, Peckris 2 said:

You na' lyin'...

(Think about it...!)

True, but in the scheme of things I think there are much fewer collectors of high denomination gold than pennies or sovereigns for example.

I imagine a big reason for most people not collecting them is the price, so their higher prices and apparent popularity seem a little strange.

[Peckris 2]

On 2/21/2021 at 7:20 AM, Mr T said:

True, but in the scheme of things I think there are much fewer collectors of high denomination gold than pennies or sovereigns for example.

I imagine a big reason for most people not collecting them is the price, so their higher prices and apparent popularity seem a little strange.

Hmm. Methinks you missed my (dreadful) pun. I'll get me coat.

[Mr T]

I got it, but I still think quintuple sovereigns are very much an unpopular coin, for a few reasons.

[azda]

On 2/20/2021 at 8:19 PM, blakeyboy said:

Whaaaat???

And there was me thinking slabbing was a good thing to do and only made money for the coin owner!

Brezhnev never told us....

 

Thats the difference between a collector and investor, where the investor is always looking for the return, the collector says it doesn't matter 😉

[Rob]

On 2/20/2021 at 7:19 PM, blakeyboy said:

Whaaaat???

And there was me thinking slabbing was a good thing to do and only made money for the coin owner!

Brezhnev never told us....

 

I've just taken one out of a slab and increased its value. With hindsight, I probably should have doubled it. Same description for type though I lowered the slab grade. Unslabbed, it was free of the baggage of a small number which frightened off all those collecting by numbers.