1926 Modified Effigy Penny

[RLC35]

Here is the add from a current USA Auction for a 1926 Modified Effigy Penny. The only hangup is...it is not a ME Penny. Notice the colon after GRA, it should almost touch the A. Also the initials BM are in the wrong place (too far to the left) and has stops. It should be more to the right, and NOT have the stops.

This is a reputable Auction House, but even they make errors. I advised them of the error a week ago, but it is still active on their bid Auction.

Lot Detail

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AUCTION: 8/18/2009

August 2009 Coin Galleries

SESSION: Online bidding closes at 3pm eastern time on August 18th. Fax and mail bids will be accepted until 3pm eastern time on August 18th.

LOT #: Watch Item4712

ITEM: GREAT BRITAIN. George V, 1910-1936. Penny, 1926.

GRADE:

STARTING BID: $500

CURRENT BID: Place a bid No Reserve

HIGH BIDDER#:

LIVE BIDDING: NO LIVE BIDS

STARTS IN *: PRE-SALE BIDS ONLY

*"Live Bidding" and "Starts In" times are approximate.

Description

GREAT BRITAIN. George V, 1910-1936.

Penny, 1926. Modified head l. Rv. Britannia. S.4054, KM 826. Deep glossy brown, medal alignment. Extremely Fine. (800-1,000)

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Photos

NOTE: The pictures did not copy through, but you can see it on their website (Stacks Auctions). It is lot # 4712, in the 8/18/09 Auction.

Here is pic of 1926 Penny.

Edited August 7, 2009 by RLC35

[1949threepence]

You're right ~ it's definitely not ME.

I've checked against my (fair to fine -) 1926ME, and the details you mention check out (apart from the BM initials which I can't read on mine). But certainly the colon after the GRA does almost touch the A, which it doesn't in a non ME specimen.

There's also that difference with the hair, which makes a ME hit you in the eye as soon as you see it. An unmistakeable look, which that coin hasn't got.

Looks like some unsuspecting punter is going to get ripped off big time

Edited August 7, 2009 by 1949threepence

[Peckris]

I don't need to make detailed checks. I can spot a Modified Effigy straight away, and that is SO not one. How the hell can they get away with such blatant misrepresentation?

[1949threepence]

I don't need to make detailed checks. I can spot a Modified Effigy straight away, and that is SO not one. How the hell can they get away with such blatant misrepresentation?

I don't know. It beggars belief when you think about it.

Highly unprofessional......no, it's just basic incompetence actually. For an apparently reputable auction house, that is unforgiveable. Especially as RLC35 has advised them, hopefully pointing out the technical differences.

[Peckris]

Highly unprofessional......no, it's just basic incompetence actually. For an apparently reputable auction house, that is unforgiveable. Especially as RLC35 has advised them, hopefully pointing out the technical differences.

Yes - I've contacted them too, pointing out the difference in values (Spink 2009) between each type - £800 vs £30 - and adding "I shudder to think what might happen to your good name and reputation in the law courts if you sold the penny as currently described". Hopefully that might make them revisit it.

[VickySilver]

No doubt a simple error to them, not to us. I think they do not take British coins seriously. These people sell coins for into the 100s of thousands in USD, so a measly 800 pound coin means little to them unfortunately.

As an aside, I wonder what a truly nice ME would bring (in numericals, a CGS 85 or PCGS 65)?

[wybrit]

I posted this over at CU back on Aug 3rd as well. I sent Stack's a respectful message (also on Aug 3rd) about their error and have received no reply and see that as of this morning they have made no attempt to correct the listing. It's totally unacceptable on their part.

Edited to add: at least no one has bid on it yet.

Edited August 8, 2009 by wybrit

[wybrit]

As an aside, I wonder what a truly nice ME would bring (in numericals, a CGS 85 or PCGS 65)?

No doubt in my mind that it would fetch in excess of any catalogued amount. 5,000 quid or more, perhaps?

[1949threepence]

No doubt a simple error to them, not to us. I think they do not take British coins seriously. These people sell coins for into the 100s of thousands in USD, so a measly 800 pound coin means little to them unfortunately.

As an aside, I wonder what a truly nice ME would bring (in numericals, a CGS 85 or PCGS 65)?

I think that assessment may well be right. Obviously to a UK collector, such an error is sacrilege. The intrinsic value and uniqueness of a 1926ME is so ingrained on our consciousness. It's probably one of the first things we learned about when we started collecting as young kids (was me, anyway). But as you say, to them, mostly dealing in US coins, and for very high stakes, it probably doesn't mean a great deal. Hence the reason our e mails have been ignored.

Still pretty bad, nonetheless. If they can make a mistake like this, they can make others. Doesn't inspire confidence.

I posted this over at CU back on Aug 3rd as well. I sent Stack's a respectful message (also on Aug 3rd) about their error and have received no reply and see that as of this morning they have made no attempt to correct the listing. It's totally unacceptable on their part.

Edited to add: at least no one has bid on it yet.

That's a blessing

[1949threepence]

As an aside, I wonder what a truly nice ME would bring (in numericals, a CGS 85 or PCGS 65)?

No doubt in my mind that it would fetch in excess of any catalogued amount. 5,000 quid or more, perhaps?

Quite possibly would, actually. At any rate, at least £3k.

I'm not even sure one exists at that standard ?

[Peckris]

As an aside, I wonder what a truly nice ME would bring (in numericals, a CGS 85 or PCGS 65)?

No doubt in my mind that it would fetch in excess of any catalogued amount. 5,000 quid or more, perhaps?

Quite possibly would, actually. At any rate, at least £3k.

I'm not even sure one exists at that standard ?

The Coin Year Book has it at significantly lower in value than a 1919KN in the top 2 grades. I feel that is nonsense - I've never even seen one and I believe Colin Cooke once said (about 10 years ago) that if someone found a roll of 100 BU 1926ME pennies, he would still pay £2000 a piece for all 100.

[1949threepence]

As an aside, I wonder what a truly nice ME would bring (in numericals, a CGS 85 or PCGS 65)?

No doubt in my mind that it would fetch in excess of any catalogued amount. 5,000 quid or more, perhaps?

Quite possibly would, actually. At any rate, at least £3k.

I'm not even sure one exists at that standard ?

The Coin Year Book has it at significantly lower in value than a 1919KN in the top 2 grades. I feel that is nonsense - I've never even seen one and I believe Colin Cooke once said (about 10 years ago) that if someone found a roll of 100 BU 1926ME pennies, he would still pay £2000 a piece for all 100.

It would be a very sound investment, as well. What a find that would be

[VickySilver]

I did see one some years ago that came up in a Spink Numismatic Circular List that was probably "undergraded" at GEF and subsequently got back a PCGS 65RB and is in their census (or at least was). That coin had beautiful unbroken silky lustre, strike and surfaces that may have surpassed the numerical grade - I believe such a coin would be worthy of a bidding war if it were to come up at major auction.

[Peckris]

I did see one some years ago that came up in a Spink Numismatic Circular List that was probably "undergraded" at GEF and subsequently got back a PCGS 65RB and is in their census (or at least was). That coin had beautiful unbroken silky lustre, strike and surfaces that may have surpassed the numerical grade - I believe such a coin would be worthy of a bidding war if it were to come up at major auction.

Oh yes. I saw a nice GVF at an auction some years ago - possibly nearer EF but it was a weak strike. I decided it was worth going to £100 for, but it went for over £350 in the end!

[Gary D]

This is the example I've had for just over a year now.

[1949threepence]

Nice one, Gary.

GVF, with some traces of lustre ?

Very nice coin. How did you come by it, and what did it cost, if that's not an impertinent question ? (forgive me if you've already answered this in another thread)

[Gary D]

I've just had it valued to add to my insurance and it came back as EF rev and GEF obv, insurance value £1400, I payed about £800 of the bay just over a year ago.

Gary

[Peckris]

And here's mine, given to me in change on the Downend to Bristol bus in 1968 - oh happy day, and it cost me less than 1/2p (only it was the best part of a year before I realised it was the modified effigy, having no other 1926 to compare it to!). I bought a better one off Cookie some years back, but I won't part with this one.

There's actually more hair detail than this 'orrible scanner has picked up.

[Bronze & Copper Collector]

Here's mine....

[Bronze & Copper Collector]

and the reverse...

[Peckris]

Some lovely MEs there, I'm quite jealous. My only consolation is how inexpensive mine was.

[£400 for a Penny ?]

Very nice chaps. Gary's post about insurance has interested me, I think I might start another topic....

[Gary D]

and the reverse...

Nice coin you have there Gary. Interesting that with both our coins the reverse is a lot weaker than the observe.

[Bronze & Copper Collector]

and the reverse...

Nice coin you have there Gary. Interesting that with both our coins the reverse is a lot weaker than the observe.

Thanks....

[Peckris]

and the reverse...

Nice coin you have there Gary. Interesting that with both our coins the reverse is a lot weaker than the observe.

Thanks....

Yes, even after the modification, the reverse was still left 'high and dry' and it took the 1927 reverse modification, and then the smaller head, to finally make the reverses as strong as the obverses.