1905 Shilling Values

[loose54]

Hi all,

I am looking to sell my 1905 Shilling. It's a fantastic coin and I was just wondering your thoughts on current auction prices of the 1905. I saw an example listed in a London Coins Auction in December 2013 as 'UNC or near so attractively toned with a small striking flaw on the lions tail otherwise choice, extremely rare in this high grade and desirable, one of the best if not the best we have seen'. It appeared to have a few edge nicks that were not mentioned but still a lovely example. It sold for £4,400 plus commission. One in 2011 sold for £2,100 described as GEF with contact marks. I was just wondering if any of you could offer some insight into what you think this example would possibly realise at auction. I am taking it down to London Coins on Monday. Do you think London Coins is the right place or can you think of a better way to sell it?

Any opinions always appreciated.

Thanks all, Jack.

[Peter]

Spink prices are EF £1450 UNC £2850

So London Coins looks like the way to go.

You could put a reserve on it.

Good luck

[sound]

Jack,

Your coin is conservatively GEF or possibly UNC IMO. Good pics but the light makes it difficult in places on the obverse. I can see no wear on the paws or nose.

DNW had a coin in 2011 that was graded GEF and went for £2000,00 they estimated £900-1200.

Spink is probably undervaluing these, they do get a lot wrong.

Bearing in mind that prices are clearly going up for top end coins, I don't think I would want less than £ 2500.00 for this possibly more.

Peter's idea of a reserve is a good one.

Mark

Edited November 22, 2014 by sound

[Peckris]

I endorse what Mark says.

London Coins is certainly one place you could sell it, but you could also ask Colin Cooke (Neil Paisley is a member here) what they would be prepared to offer? There's also Baldwins. Any large auction house would be as good as any other.

[VickySilver]

Very nice piece. I think this would be MS62 or so in NGC/PCGS "speak" or grade. Overall very pleasant appearance, toning alright, looks to be the random hit in the field or so, good hair detail. Have to reserve judgement on what lustre remains under the toning. The edges not quite as crisp as one would hope for in an uncirculated coin.

Overall a very nice piece that I would hesitate to guess a retail price on - not so good on a bad day, possibly wonderful on a great day. I think 3k quid is very possible on one of the latter. A wholesale offer would naturally be a bit back, possibly 2.25 or so would be the guess. All of course said with the "in hand viewing mandatory" caveat!

[loose54]

As always, thanks for your input all. I have contacted Neil to see his thoughts on the coin and will keep you updated on what happens to it.

[Paulus]

Please don't shoot me down in flames, but rarity alone should not affect grading opinions and I am wondering if that is what is happening here?

If this was a 1902 or 1910 shilling would we be looking at it in the same way, grading-wise? Or is there something about the 1905 issue (rarity aside) that warrants special attention (such as it is known for weak strikes)?

Objectively, I would grade this coin as NEF at best, based on the pics provided, and I am assuming it should be graded equally alongside other E7 shillings. It is undoubtedly rare, and especially so in this grade, and will attract a very nice price when sold.

Grade, rarity and value are closely linked, but must be considered separately to maintain any sanity, if anyone thinks I am deluded in this please correct me!

Irrespective of all the above, it's a very nice example and will doubtless fetch a nice price, I just wonder if I am missing something, since your pics do not show a coin in GEF-UNC to me .. but I may be about to be corrected, which is fine!

[ozjohn]

My two bob's worth. A bit hard to grade from the obverse but the reverse is more telling for the King Edward issues. If you look on the lion's nose on the reverse there does not seem to be any wear. The lion's nose is probably the highest point on the design. If you refer to the Standard Guide to Grading British Coins location 1291 in the Kindle version it shows an AU graded 1902 shilling/sixpence which has a little wear on the lion's nose. Also the King's ear on the obverse seems pretty good as well. On that basis I would grade the coin AU. This thread also illustrates how difficult it can be to grade a coin from a photograph unless the photo is very good. In my experience it is difficult to obtain consistent results with a camera and find a flatbed scanner more consistent although it does not always present the coin at its best. I do support the Idea that rarity should not effect the grading but it is probably inevitable when someone is trying to selling a rare coin at the best price they can get.

[Garrett]

hhhmmmmm interesting.

Cant say I'm an expert in grading and am sitting here with the "Grading British Coins" book on my iPhone.

I can't see enough wear on the lions nose, stones below the crown, or the kings ear to mark it below EF.....

Just my opinion though.....

[VickySilver]

I think the Reverse strike quite pleasantly firm with the mentioned lion's nose not only well struck up but not worn or damaged or showing hits. The field is relatively clean. To me the limiting factor if I was to bid on this is the obverse - even though the ear is great, the hair complete if soft, the beard and mustache not quite as well struck as can sometimes be seen. There is a bit of worrisome ?? something on E7's neck, almost as if struck from a rusty die. The obverse toning is not as nice as one might wish.

Still I would buy this coin in a minute if the selling price were less than EF. Paulus, what are the detractors that you see pulling it down?

[Peckris]

I agree with all of you. The lion's face and Edward's ear are the two big warning signs for wear, and I just can't see any. That being the case, I have to say "better than EF".

If we don't allow for a little wear to account for EF, then it's a meaningless grade, and the price differentials between it and UNC have no basis.

I'd say the same even if it was a 1902. The date has no bearing on the grade.

[sound]

Yep, agree with my original thought, GEF to UNC.

Nice coin, very rare in this grade. Will only become more expensive. EDWARD VII in high grade will only become more expensive. Don't sell it cheap.

Mark

[bronze mad]

superb coin. better than the one I have! I would grade it as GEF the only problem is the surface dirt will lessen it's eye appeal which is a shame, marvellous coin nonetheless Value? £1,500 at auction?

[ozjohn]

Have you heard of soap and water? It tends to remove surface dirt from a coin without spoiling it,