Australian 1967 Dollar coin

[Paddy]

I am posting this here in the hope that anyone with knowledge on Australian coins can comment.

I recently picked up at auction this 1967 silver one dollar coin. I have found it easily enough on Numista - see: https://en.numista.com/catalogue/exonumia78083.html

It is a "Fantasy" Swan dollar, issued in 1967 by the editor of the Australian Coin Review because the government had declined to create one when they went to the dollar system. It is apparently quite scarce - only 1500 issued at "currency" standard, and sought after by Australian collectors. Of course the Chinese have produced fakes, but I am pretty sure it is not one of these - it passes the tests suggested at https://www.australian-coins.com/collecting-coins/1967-australia-1-dollar-pattern-crown-goose-dollar-90-silver-copy-coin-counterfeit-fake/ and also I saw it arrive at the auction house, kicking around in the bottom of an old tin with a Victorian Crown and a few other silver coins, straight from a house clearance.

I can see a couple on Ebay, typically listed in the £1500 bracket, but both slabbed. One has sold at an offer, presumably a bit lower than that.

I do not plan to hold onto mine. It goes against the grain, but should I get it slabbed? If so, with whom? How best to go about it - I have never had anything slabbed before and baulk at the cost! What grade and value would it make (roughly) slabbed or unslabbed?

Thanks for any advice.

[Kipster]

Hi Paddy,

If you don't get things graded, it would be best to send it to someone like https://www.thenumistacker.com/ who will handle that all for you. He deals with all sorts of coins and sends them off to NGC for grading on your behalf. Here's a video explaining what he does.

The cost of the grading depends on the value of the coin really. The charges for the categories differ, as some are more valuable than others, and others need more research. You're probably looking at around £50 odd to get this graded with NGC, but his charges are detailed on the website. 

The worst that can happen is that NGC refuse to slab it as "not genuine", in which case you've lost your money, regardless of whether they plastic it up or not. Having it graded may make it easier to sell on somewhere like ebay, but it's a crap shoot half the time on there. Difficult to tell what grade you'd get, but looking at the others on ebay, you might get an MS60 at best which roughly equates to EF to gEF.

[Paddy]

Thanks for that - very helpful. I will think on it for a bit.

 

[Rob]

That person is a bit iffy - full of BS. Ask Azda who called him out.

 

[Kipster]

1 minute ago, Rob said:

That person is a bit iffy - full of BS. Ask Azda who called him out.

 

That's interesting. I've dealt with him before on a couple of occasions and seemed ok, if a little distant and abrupt. I put that down to being busy.

[Nonmortuus]

Hi Paddy, I can put you in touch with someone for NGC grading if you would like. Used him a few times and so far so good.

[Paddy]

That's kind. Please PM the contact the details.

I suppose the question I don't know is whether on the Australian market slabbing will make enough difference in the value to make it worthwhile? Personally I hate slabbing, but one has to go with the market.

 

[blakeyboy]

Please bear in mind that after the risks, and having spent money for no reason, your coin is still the same....:-)

[Paddy]

Yes - I know. That is why I am in such a dilemma! I dislike slabbed coins and would never buy one for myself - unless I planned to break it out. However if spending £50 getting it graded would turn it from a £400 coin to £1000 coin, it makes sound business sense. The profit I could then use to buy more coins for my own collection! 🙂 

[Nonmortuus]

I think on average its about £23 ish to get it slabbed but Matt will be able to confirm.

[Paddy]

Yes - I have had a very informative email from Matt. It seems that it would cost me about £50 to get it slabbed - based on a guesstimate retail value of £500.

Conservation is extra - 4.2% of value - any thoughts on whether that is worthwhile/a good idea?