Jump to content
Sign in to follow this  
4kids

R 27-00 Paid for a 1931 3 Pence !!! Coin prices over the years.

Recommended Posts

4kids

Today I came across a old newspaper clipping in one of the exercise books my father kept on his collection and thought it is worth sharing. The date of publishing is unknown but it must have been around 1965 as the article shows coin prices paid by dealers at the time till 1964. 1965 being the year I was born, I can not help to get out the calculator and doing some figures to see what my collection is potentially worth...lol..

 

Often we have seen arguments for and against the investment value of South African Coins and I think this little newspaper clipping says it all!

 

It does not matter if you collect coins for the fun of it or for the potential future investment of such a collection. They will and always will be a form of investment. Read it and weep!

 

Even the most simplest of collections out there are worth something.

Share this post


Link to post
Share on other sites
jwither

I have been one who has argued against the current prices of many coins, both from South Africa and the United States. (You can read my posts on the NGC Message Boards. The last such post was on the 1916-D Mercury dime.) Most of my current disagreements with other opinions are with higher grade coins (which often are not even that high grade at all) and with price forecasts which show a complete lack of realism.

 

Prior to about 2004 or 2005, Union coins were "sleepers", even among South African collectors. They still are among those who are not familiar with them which is why many of us can buy them cheaply on occassion. But they are no longer "sleepers" at current prices generically except versus coins from countries such as the United States and Australia.

 

While many Union (and ZAR) coins are scarce, they are not as relatively scarce versus a good number of other coins contrary to what most South African collectors probably believe if they have even thought about it. And as I have stated before, I doubt that many collectors with the better Union (or ZAR) could afford to buy their existing collections at current prices. They simply would not have enough money to do so and there are only a limited number of other buyers who can do so either. While United States coins are vastly overpriced versus Union, the fact of the matter is that there are plenty of buyers available closer to current market prices because the liquidity is much greater.

 

Finally, I would not consider the 1931 3D reprsentative of Union or South African coins at all. Its a world class rarity and deserves to sell for a "high" price, whatever that may be. I also doubt that the dealer who listed this buy price actually ever bought one at that price you show or possibly at all. I believe you own one but I have never seen one, either in person or offerred for sale anywhere in the 12 years I have been collecting this series.

Edited by jwither

Share this post


Link to post
Share on other sites
Pierre_Henri

Strange indeed ...

 

Why would the 1950 Tickey be listed at R3 (a high price compared to the others), and the 1959 Crown almost two thirds of the price of a 1931 tickey? Truly bizare prices when compared against each other and then against current prices...

 

I think that the dealer had to much witblits (good old "Moonshine" for John) before stating his prices to the reporter!

 

Pierre

Share this post


Link to post
Share on other sites
4kids
Why would the 1950 Tickey be listed at R3 (a high price compared to the others), and the 1959 Crown almost two thirds of the price of a 1931 tickey? Truly bizare prices when compared against each other and then against current prices...

 

I think that the dealer had to much witblits (good old "Moonshine" for John) before stating his prices to the reporter!

 

Pierre

 

Strange indeed and I agree with you Pierre. I was wondering if someone would pick up on the discrepancies, As usual you have an eye for detail. Either the reporter or the dealer was at fault here. Perhaps the very same reason you've raised and noticed was the reason for my dad to have kept this clipping... I can not help thinking how the both of us would have spend 1000's of hours with our collections if he was not taken form us when I was a mere 12 years old, and he only 41, and this a short 33 years ago. :sad:

 

I have posted some time ago an exert from the De Nummis Nr2. of 1956 -1957 in which the renowned collector DR. F.K. Mitchell wrote an article with the Title: "Ramblings on the Union Series" in regard his attempts to collect KGV Union coins. BoB decided to remove the earlier posts and this is not available to current collectors. Here goes again:

 

.".....There is much more to this game of Union coin collecting, however, than a straightforward analysis of the production figures will show. There is a very great difference between the relative rarity of certain coins calculated on the number struck and their rarity when judged on their availability to collectors in "collectable" state.

 

The point of course is that for at least the first 20 years, little or no interest was taken in our South African coins, so that by the time we woke up, the wear and tear of circulation had ruined all our early issues. Neither collectors nor dealers put more than a few odd pieces aside, and even the South African Mint omitted to save a set regularly for future exibition. Proof sets do exist for the years from 1930 to 1939, but the numbers struck were very small indeed during most of those years. In respect of the "twenties", the position is even more serious, for appart from the orriginal proof sets of 1923, which were fairly numerous, and the debatable sixteen sets of 1926, no proof sets at all were struck before 1930."........

 

He later writes:

 

"I am today the proud possessor of a set of our Union coins complete except for the farthings of 1926 and 1933. But despite my years of diligent search, there are still 34 of the 282 "circulation" pieces which I cannot class as high as E.F.! Most of my "wants" are in the "20's", and practically all are prior to 1940....."

 

this is a four page article and I decided to simply put on the forum those portions showing the thoughts of a collector of 54 years ago on SA Union Coinage.

 

Dr. Mitchell goes on...

 

..."here is an offer! If you can send me in E.F. State a South African Half Crown, Florin or Shilling of George V of any other date than 1932, I shall be happy to return a Kruger coin of same denomination in equivalent condition..."

 

Wonderful stuff and valuable information if you ask me.:biggrin:

Share this post


Link to post
Share on other sites
jwither

I have the Alec Kaplan annual price guide from 1962 and there are some major inconsistencies with today's prices as well.

 

I would be curious to know which 34 coins Mitchell could not find in EF or better. And since there are no 1934 farthings thst I know of and only two (disputed) 1936 farthings, I assume he did not have those either except maybe in proof.

 

Prior to 2004, my experience with Union coins was the same as his, though I was not aware of BoB, I live in the United States and not South Africa and he was a dealer (I believe) and I am not. But I could not find hardly any higher quality Union coins in better grades except for the more common ones and some of the scarcer proofs.

 

Since the Remick sale in late 2006, the supply has increased a lot proportionately for many issues and its my opinion that the main reason is because the prices are higher or much higher. That is invariably true for any coin where the supply exists.

 

The best evidence for this is that for at least some of the dates, these are now available whereas before, apparently they were not. KGV dates like the 1936 2/ and 2/6 or 1930 2/6. Same for 1D such as 1926 or MS RD 1/2D like 1929 and 1930.

Share this post


Link to post
Share on other sites

Please sign in to comment

You will be able to leave a comment after signing in



Sign In Now
Sign in to follow this  

×