coin cabinet auction

[SilverMike]

Anyone followed it? Looks like they’re nearly through the auction and some good deals been had.

[AppleZippoandMetronome]

Only on lot 107 now. I've put a few bids in but haven't won everything yet.

[JunkBond]

Been watching for half hour, got to the 1914 half sov I was going for and disconnected.

Maybe the missus has got a knobble switch.

[Sovereign]

Some went too high ! 
bought 1993 sov

 

[AppleZippoandMetronome]

Well I'm done. Came for the Canada sovs and wound up with two Australia ones and one Canada one. Did anyone else think some of those Australian sovs went quite cheap? Even some of the graded ones to my limited knowledge seemed to go cheap.

[Paul]

Some v good prices attained today. Graded modern bullion in demand

[Dragonnumis]

@Sovereign I was watching the 1993, well done although I was suprised by the pretty high sale price of many of the modern proof sovs and Elizabeth 50s and 60s sovs. Its a good sign that the market is healthy for collectors and investors with so much interest.👍

[Seth]

Do people here really find that there are good bargins to be found at auctions?  I haven't been to any in the U.K. but without exception every auction that I've been to, everything I wanted to bid on I could buy elsewhere for a lot cheaper, granted i's probably not as fun, there's no thrill or rush of adrenaline, but I'm happy to miss out on the thrill and adrenaline rush to save myself a decent amount of money.

[goldking]

There are often bargains to be had but there are no guarantees.  Depends on a lot of factors, including luck on the day.  I've had some bargains from Sheffield but you need to be there in person to bid in the room and collect your stuff on the day otherwise it quickly gets expensive with the 5% online bidding premium and storage/P&P fees if you try to do it remotely.  Basically it's not worth doing over the internet if you're wanting to pick up for spot or below.

 

[AppleZippoandMetronome]

7 hours ago, Seth said:

Do people here really find that there are good bargins to be found at auctions?  I haven't been to any in the U.K. but without exception every auction that I've been to, everything I wanted to bid on I could buy elsewhere for a lot cheaper, granted i's probably not as fun, there's no thrill or rush of adrenaline, but I'm happy to miss out on the thrill and adrenaline rush to save myself a decent amount of money.

This was one of the coins I bought. Didn't come for these but the selling price struck me as cheap. £310 was my winning bid - 1885 Sydney Shield Sovereign. Spot yesterday for this was about £300. Is there a dealer out there doing this for the same price? I think there are some bargains to be had as long as you're careful and don't get caught up in the moment.

 

[Sovereign]

11 hours ago, Dragonnumis said:

@Sovereign I was watching the 1993, well done although I was suprised by the pretty high sale price of many of the modern proof sovs and Elizabeth 50s and 60s sovs. Its a good sign that the market is healthy for collectors and investors with so much interest.👍

cheers 😁

 it is slightly on the high side  .. early 1990s hard to find in 70 grade also low mintage 

 

[TheGoldSovereign]

The first few were good, now there isnt much in them for me just modern bits

The modern stuff goes for way too much also imho.

[Guest]

2 minutes ago, TheGoldSovereign said:

The first few were good, now there isnt much in them for me just modern bits

The modern stuff goes for way too much also imho.

I think that is an interesting perspective but one of the only growth areas in GB coins seems to be modern and collecting modern also what they have experienced in the USA too. Listen to the Charles Morgan Coin Week Podcasts where he talks about this all the time. Prices follow demand and the demand for modern proof sovereigns has gone up hugely with lots more collectors worldwide. Is it justified? You can ask that question of EVERY coin with a numismatic value or that is collected. I have learned that collectors answer this question all the time with their own wallets. I sometimes feel that prices are too high and other times way too low. The sweet spot is gold from the 1980s to 2005 or so that can be unreasonably cheaper than its modern equivalent.

[AndrewSL76]

I was lucky enough to get the 1/20th Panda for £90.00 which I thought was a cracking price. I was shocked when I put in the bid and it sold. I was prepared to go higher had further bids come in. Very happy.

[Guest]

I think we should remember that for every buyer there is a seller and that a bargain for the buyer can be a disaster for the seller. We are all both buyers and sellers at different times. There are some canny buyers here and quite a number of greedy sellers and chancers who want to buy from the CC auction and then immediately sell for +25% to other less well informed members of our same forum who will then perhaps sell via CC and lose 30% of their money.

Is it worth selling at CC as a seller? I sold 16 of my own coins at the previous auction and i have an arrangement with CC to act as a consignment agent so i can accept consignments. So far some coins have done up to 30% better than expected and some coins have sold for almost crazy low prices that do not reflect the market in any way I can see.

My view is that seller should pick coins that are desirable and they know other collectors will want and those coins will do really well at CC. Coins that do not really do brilliantly are those non-descript average coins that move here on the forum for bullion and at the moment sovereigns with lower grades can seem to go to cheaply like the Sydney shield for £310 rather than £350 that it should have been.

[Paul]

1 hour ago, TheGoldSovereign said:

The first few were good, now there isnt much in them for me just modern bits

The modern stuff goes for way too much also imho.

 

52 minutes ago, Numistacker said:

I think that is an interesting perspective but one of the only growth areas in GB coins seems to be modern and collecting modern also what they have experienced in the USA too. Listen to the Charles Morgan Coin Week Podcasts where he talks about this all the time. Prices follow demand and the demand for modern proof sovereigns has gone up hugely with lots more collectors worldwide. Is it justified? You can ask that question of EVERY coin with a numismatic value or that is collected. I have learned that collectors answer this question all the time with their own wallets. I sometimes feel that prices are too high and other times way too low. The sweet spot is gold from the 1980s to 2005 or so that can be unreasonably cheaper than its modern equivalent.

I think @AndreasAfeldt at the coin cabinet is carving out a very nice little niche in the collectors market with these regular auction sales

The feel, look, clean lines, display, great usability on smart phone via app and awesome photographs and general usability of the web site via the professional software is attracting a growing new band of new collectors who would never attend a traditional auction.

Bringing internet savvy younger collectors into this market can only be good long term for the market as a whole

I love the 0% buyers premium

I love that the majority of coins are graded so you are assured the items have been verified by a third party as genuine and that is impartial opinion of condition, and not the auctioneer over estimating condition to inflate hammer prices 

[TheGoldSovereign]

1 hour ago, Paul said:

I love that the majority of coins are graded so you are assured the items have been verified by a third party as genuine and that is impartial opinion of condition, and not the auctioneer over estimating condition to inflate hammer prices 

I love this part, I received 2 coins that were wrongly slabbed, one dated completely wrong to the label and another with an error that didn't exist. Of course the auction house doesn't accept liability for any incorrectly labelled slabs, so just be careful and always buy the coin not the slab!

Just a note that I've dealt with Andreas a fair few times, and spent a lot at the auctions, a stand up guy and a great operation. Though this doesn't change my views above

 

[Seasider]

What I found interesting is the two 1989 Sovereigns.  One was PCGS PR70 and went for £1600; the next was NGC PF70 and went for £1300.  Is that just because it came later or does it signify some difference between PCGS and NGC - I know some people seem to rate PCGS more highly (though personally I think their slabs are pretty ugly).

[Sovereign]

1 minute ago, Seasider said:

What I found interesting is the two 1989 Sovereigns.  One was PCGS PR70 and went for £1600; the next was NGC PF70 and went for £1300.  Is that just because it came later or does it signify some difference between PCGS and NGC - I know some people seem to rate PCGS more highly (though personally I think their slabs are pretty ugly).

I noticed that too 

they were after each other 

some people only buy coins in PCGS slabs ?

(i buy both) 

is it tough to get a 70 grade in PCGS slab ?

i had 3x PCGS 69 sent to NGC after conservation all 3x got 70 

[Guest]

7 minutes ago, Seasider said:

What I found interesting is the two 1989 Sovereigns.  One was PCGS PR70 and went for £1600; the next was NGC PF70 and went for £1300.  Is that just because it came later or does it signify some difference between PCGS and NGC - I know some people seem to rate PCGS more highly (though personally I think their slabs are pretty ugly).

It is most likely because there was a battle for the first one and no battle for the second one. I dont think its a PCGS/NGC thing.  Often lots towards the end of an auction are cheaper and the order of lots is curated and the one they want to get the best price for is first - a bit like the high profit items being at eye level in a supermarket.

[Seasider]

1 minute ago, Sovereign said:

I noticed that too 

they were after each other 

some people only buy coins in PCGS slabs ?

(i buy both) 

is it tough to get a 70 grade in PCGS slab ?

i had 3x PCGS 69 sent to NGC after conservation all 3x got 70 

Good points - but you would have been disappointed if conservation had not improved the grade.

[Sovereign]

Just now, Seasider said:

Good points - but you would have been disappointed if conservation had not improved the grade.

true 70 grade should hold the same value PCGS or NGC

[Seasider]

2 minutes ago, Numistacker said:

It is most likely because there was a battle for the first one and no battle for the second one. I dont think its a PCGS/NGC thing.  Often lots towards the end of an auction are cheaper and the order of lots is curated and the one they want to get the best price for is first - a bit like the high profit items being at eye level in a supermarket.

They were right next to each other.  As far as I could see the person who won the PCGS did not bid on the NGC but there was competition for both of them.  It just seemed a big gap between two coins which ought to be on a par.

[Paul]

i could believe the gulf of difference in prices for 69 and 70 graded coins.  Like the 2017 £5 sovereign

Is one grade really worth that many  £100s more ?

[Guest]

5 minutes ago, Paul said:

i could believe the gulf of difference in prices for 69 and 70 graded coins.  Like the 2017 £5 sovereign

Is one grade really worth that many  £100s more ?

Clearly NO - One over bid and one was about right in my opinion. £1600 was on the high side but one buyer really wanted a 70 grade coin.