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geejay50

Scarce Coin Watch

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jwither

Geejay,

 

I hope you are right but unfortunately, I do not think so. It would seem obvious that someone would take the time to perform such a simple check to verify the approximate market price but I believe that there are many many buyers who cannot be bothered to do so. They are either too lazy, ignorant or are duped by the seller. This is not just true of coin buying, but any other number of speculations and the sums are sometimes far more.

 

If this were not true, then I would have expected that sellers would have given up putting an exorbitant price on this coin and many others which are far inferior to it. I see this on BoB every time I check the listings, I see the same thing on eBay and I also see it when I occasionally check dealer websites. And not just on South Africa coins but basically every coin subspecialty.

 

For South African coins, some of these are raw coins which I presume are offered at the Hern catalog price. I say "presume" because I do not have the latest edition though sometimes a BoB listing will specifically state it. These prices are equally absurd because not only do market sales fail to get those prices or anywhere near it, but sometimes there either is or likely is not an actual sale to support the catalog listing.

 

On eBay, there is one particular seller who has recently (last few months or so) been flooding the SA coin listings with what I would describe as complete garbage, sometimes dozens or maybe even a hundred at a time. These are almost exclusively low or mid circulated grades and ebven from the image, problem coins on top of it. Yet there must be some dupes who occasionally buy to make it worth the bother.

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geejay50

1947 Crown PL RAREST Union Crown,

 

It has only recently come to my attention that the above Crown in Prooflike should not exist according to the Hern Catalogue.

Common enough in Proof (5600) and Business Strike(300 000) but in Prooflike, there have only been 4 coins graded in spite of the Catalogue by NGC and none by PCGS. At NGC the spread is MS62(1),63(1),65(2).

 

It would be interesting to speculate as to why so few coins were made from Proof dies that were scrubbed (the origin of Prooflike) in 1947. Perhaps being the first year of Proof Issue, the Obverse dies had not worn very much ? what do you think?

 

Union Crowns are really popular coins probably because of their size, high silver content and quality of strike.

 

It is therefore of interest to note this rarity.

 

Geejay

Edited by geejay50

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jwither

Unless the coins are misattributed, I would expect these crowns were struck just as the few other PL (excluding SS crowns) were made.

 

As for their popularity, I would agree that it is because of their size and silver content, even though at .800, this is actually relatively low. But it is higher than the 50% of later issues. We certainly know it is not because of their relative scarcity.

 

There are many coins that are expensive for their scarcity and their size is the only logical explanation for it. All or at least most of you are familiar with the Spanish colonial pillar 8Rissued from 1732 to 1772. As one of the few truly international coins because of its wide circulation and legendary design, it is collected the world over.

 

In actuality though, this coin is not remotely scarce (much less rare) as a TYPE coin, though better specimens graded are certainly not common. It is only coins from specific dates or the non-Mexico mints which are scarce or rare. The minors (1/2, 1, 2 and 4 reales) which I collect and have written about several times are VASTLY scarcer MOST of the time. Yet they usually sell for less or much less. The size primarily explains this because most collectors prefer larger coins, though the the lack of availability for the minors also has something to do wtih it.

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Rare NotesCoins

I have just graded the follwing coin. I have been looking for an Unc since 2001. After many attemps I have finally found an MS63 1927 Florin. This is an extremelly difficult coin to obtain. Youre feedback is welcomed.

 

http://images.bidorbuy.co.za/user_images/297/389297/389297_120819165138_1927_Front.jpg. I do see that there is 2 coins graded better, both being MS64, what do you think of a price tag of R75 000?

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geejay50
I have just graded the follwing coin. I have been looking for an Unc since 2001. After many attemps I have finally found an MS63 1927 Florin. This is an extremelly difficult coin to obtain. Youre feedback is welcomed.

 

http://images.bidorbuy.co.za/user_images/297/389297/389297_120819165138_1927_Front.jpg. I do see that there is 2 coins graded better, both being MS64, what do you think of a price tag of R75 000?

 

Hi,

 

Lovely coin. Pop reports in Mint State for NGC and PCGS I get as follows:

 

NGC: 5 Mint State 62(4),64(1) plus your coin still to be entered 63 ie 6 in total there with yours as pop2 for NGC

 

PCGS: 3 Mint State 60(1),63(1),65(1)

 

So yours is shared third best out of 9 coins.

 

Pricewise one would have to look at prices fetched currently on Bob for similar George V 2/- of similar grading figures and scarcity.

 

I would hazard a guess at around R40K ?? What do others think?

 

Geejay

Edited by geejay50

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Pierre_Henri

With these rare coins it is almost impossible to put a price tag on them.

 

An AU55 sold recently on BoB for R9500. (SACoin Guide also do not list any recent sales over that AU55)

 

So how to you compare an AU55 to a MS63, and try to figure out a value?

 

Almost impossible.

 

I looked at the coin and must say it is truly stunning and without the usual tell tale dipped-but-still-made-it lustreless higher grade examples of GV 2/- (and similiar pieces) one see lately on offer.

 

I would put an approx. price tag of R40 000 on this lovely coin.

 

Pierre

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jwither

I think this coin will sell for more than R40000 or about $5000 if sold at a no reserve auciton. Personally, I like the color. However, I am not sure about the strike. The beard looks weak to me and I would expect better.

 

My opinion on price is based upon the 1927 1/ current bids on Heritage. I am having trouble with my NGC account now so I cannot look at the census. But I consider the 1927 2/ superior and more desirable than the 1927 1/. The last time I checked, it was slightly scarcer (according to the census) and on my list of 2/, I rank it fourth from the KGV (behind the 1931, 1925 and 1926) about the same as the 1938 and 1946, though I think it should sell for more than the latter two because the KGV series is more popular.

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geejay50
Hi All,

 

I was offered an NGC 1902 Veldpond by SCoin Shop for R600,000 yesterday.

 

Any thoughts on this price and any precedents in sales?

 

Geejay

 

 

Hello All,

 

I was forwarded an email offer from SCoin Shop to-day to a friend on the following four ZAR Ponden each one at R35,000, alongside I have entered the Coinguide SA average amount of three sales of each coin of the NGC grade within the last two years:

 

1895 Pond AU50 (R14,234)

1896 Pond AU50 (R7597)

1896 Pond AU55 (R11,319)

1897 Pond AU50 (R8869)

 

I would like to thank the CoinguideSA team very sincerely for their solid work in giving indepth statistics on our valuable coins

 

My wholehearted support goes out to them and it is plain to see from that analysis what exorbitant unfounded prices are being asked in some quarters.

 

May as many serious collectors as possible join CoinguideSA and help create a sales based price framework for our coins.

 

Three cheers to them !!!!!

 

 

Geejay

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ChuckyD

With rare South African union coins currently selling at top prices, what would all the educated collectors think the approximate current value will be for the rare PROOF 1933 SA penny. Graded by NGC. Mintage is supposed to be 20 but apparently only 5 are known. Regards

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jwither
With rare South African union coins currently selling at top prices, what would all the educated collectors think the approximate current value will be for the rare PROOF 1933 SA penny. Graded by NGC. Mintage is supposed to be 20 but apparently only 5 are known. Regards

 

I believe Hern states that five 1933 sets are known, but I do not believe anyone actually knows because the records on the provenance for most rare South African coins are not exactly that well known. From what I know, with the exception of a few coins such as the 1898 "Single 9" ZAR pond, the rest are mostly a complete mystery.

 

To give a few examples, there are two pattern Union Sovereigns up for sale by Baldwin's next month and Heritage and London Coins both sold the 1928 "Specimen" 6D within the last few years. None of these coins were even listed in Hern (or Krause). If the majority of the numismatic community did not even know of the EXISTENCE of coins such as these, what basis is there to claim that the number of survivors of other rare but slightly more available coins is known either? The obvious answer is that there isn't any.

 

Within the last few years, Heritage has sold a full gem 1933 set graded by PCGS for $25,200, a 1932 penny graded by NGC for $5750 and a full 1931 set graded by NGC for about $48,000.

 

I believe the 1931 set at that level is vastly overpriced. It isn't remotely desirable or rare enough to sell for that type of price. The 1933 set should easily sell for more based upon both its reported mintage and its actual availability. Since the 1939 full set recently sold for about $51,000, I believe it would sell for a decent amount over the last price of $25,000 but not necessarily for more than $48,000. The 1932 penny maybe for somewhat more than $5750 and in my opinion, a 1933 is worth about the same or somewhat less.

Edited by jwither

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jwither

As a follow-up to the last question, I have also added my opinion on the relative desirability of the various Union proofs sets (up to 1946) to each other and the business strikes of the same date. I am sure other opinions will differ.

 

1923: Rank 16; I rate the bronze about equally scarce and the silver much more common than the business trikes. The proof gold are not particularly scarce either. Given its scarcity, I consider this set to be overpriced at current levels and would be a seller if I owned it. I have always presumed that its current price is based upon the fact that it is the only "affordable" KGV date.

 

1926: Rank 1; Hern and Krause list a mintage of 16 but I believe that Hern also mentions that fewer than this number likely exist. I have only seen one coin come up for sale ever, the RD or RB 1/4D which Randburg Coin sold for R145,000 several years ago. I am dubious that this coin is even worth that now, but I believe that any date from thsi set would and should sell for more than any others. In comparison to the business strikes, I would easily prefer the proofs to them, though the 1/, 2/ and 2/6 are also rare in high grade, scarce in any decent grade and very desirable coins. As for the single 1/4D business strike listed in the NGC census, I have no evidence of it, but I believe that it is probably an impaired proof which slipped into circulation or maybe a "pocket piece". I see no reason why the SA Mint would have ever struck just one coin.

 

1930: Rank 2 or 3; I consider the proofs scarcer than any of the comporable business strikes.

 

1931: Rank 8; This is potentially the most overrated set and the only thing that explains its relative price is first, historically it has sold for more than most other KGV (per my 1962 Kaplan price guide) and second, it must be bought as a substitute for the 1931 silver business strikes which are essentially never available, except for the 6d occasionally. (I see no logic whatsoever for thhis thinking on the second possible reason.) The 1D is the only denomination where I would consider both the proof and business strike to be approximately equally desirable, though I still believe that the proof version should usually sell for more.

 

1932: Rank 2 or 3; The proofs are obviously much scarcer and desirable than the circulation strikes, except for the 1D where I consider the proof SLIGHTLY more desirable since I also consider the business strike the most desirable Union bronze.

 

1933: Rank 4; A reasonable argument could be made that this date is equally desirable to the 1930 and 1932. Except for the 2/6, the proofs are easily more desirable than the business strikes. For the 2/6, I consider it a "toss up", though I personally would prefer to have the proof specimen for about the same money. I do not believe that 1/4D exist as business strikes.

 

1934: Rank 7; Except for the 2/ and 2/6, the other denomination are clearly scarcer in proof even in better grades. I would still prefer a proof 2/ and 2/6 over their business strike counterparts and also believe that they should sell for more. I do not believe that 1/4D exist as business strikes.

 

1935: Rank 6; Same comments as the 1934 except for the 1/4D.

 

1936: Rank 9; I believe this set is scarcer than the 1931, but due to collector preference, I agree it should sell for less, though the difference should not be nearly as great as the current market values. I do not consider any of the business strikes to be really scarce. On the 1/4D, I would not be interested in owning it at anywhere near its likely current market price because I do not believe a consensus exists that the specimens graded by NGC are actually business strikes.

 

1937: Rank 11; I rate the circulation strikes moderately scarce but would still prefer the proofs. Despite the recorded mintage, I have seen this set for sale far less frequently than the 1944-1946.

 

1938: Rank 10; This set used to be really under rated for its scarcity but I doubt it is anymore. I could never buy it when it was cheap. Except for the 2/, I would rather have the proofs over the business strikes. The 2/ is a really scarce coin in better grades. Some might also prefer the 2/6 in MS to the proof but I would not.

 

1939: Rank 5; This is NOT actually my ranking but the one which I believe exists in the marketplace. I do not see that it is more desirable than the 1934 or 1935 (much less the other dates I have placed above it) unless the number of survivors differs more for this date versus the others, something which if true I do not believe anyone actually knows. I believe that this set is over rated but in this instance, because of the proof only dates. Since I do not consider any proof a substitute for a business strike, this has never made any sense to me. And it even makes less sense for a date like this one (and the 1949 1/) because a full set of business strikes does not require a 1939 for the 6D and 1/. In any event, the proofs are obviously more desirable than the business strikes.

 

1943; Rank: 12; If there is a "sleeper" in Union proof sets, I believe it is this one. There are decent number in the census, but I have NEVER seen one come up for sale, though maybe it has happened on BoB and I just missed it. The few that have seen have been of low quality. The proofs are easily more desirable to the business strikes.

 

1944: Rank: Tied for 13; I do not consider this set particularly scarce. I have seen many for sale and at one time had a mostly complete one. The 1/ is probably the second scarcest business strike shilling (but not most valuable to me). The 2/ and 1D circulation strikes I believe are also much scarcer in MS at least and I would prefer them. The 6D is probably scarcer in AU or better and the 2/6 maybe.

 

1945: Rank Tied for 13; Similar comments to the 1944.

 

1946: Rank Tied for 13; Similar comments to the 1944.

Edited by jwither

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jwither

Since I have the benefit of still being awake as the Heritage session ended, I might as well be the first to comment on the results. As usual, I expect my sentiments to be mostly or entirely the opposite of everyone else here.

 

Best values

1927 Shilling NGC MS-63 $6462 (see my comments below for the 1927 shilling NGC MS-64 and 1923 shilling NGC MS-66)

 

1930 Halfcrown NGC MS-63 $2232. I do not consider this coin particularly scarce but from the image, it is a fine specimen.

 

1936 proof set $8812. This was the bargain of the sale and I do not know why it sold so cheaply. The 2/6 was a low grade at PR-62 but the 2/ and 1/ more than offset it by both being cameo and very sharp coins. Overall, I consider this a good quality set.

 

Reasonably priced

1936 Halfcrown NGC MS-61 $477. I actually do not like MS-61 coins generally. This one appears lusterous but I do not think it is as nice as the auction listing claims. The strike also looks weak to me. But in any event, it is an MS KGV 2/6 and by today's standards, not overpriced.

 

1927 6D NGC MS-65 $1527. I would not pay this price for this coin but its reasonable by today's standards. The last MS-65 sold on Heritage for $1600+ and an MS-64 for about $750 recently.

 

Overrpiced

1923 NGC Shilling MS-66 $7050. A superior specimen but for a coin that is hardly rare. There is no justification whatsoever for it sell for more than its 1927 NGC MS-63 counterpart. I consider this the most overpriced Union of the whole session.

 

1928 Sovereign NGC MS-65 $1233. Another poor value, maybe even worse than the 1923 1/. This coin was not even on my radar and I paid no attention to it until just now. How anyone could rationalize paying this price is beyond me.

 

1927 Shilling NGC MS-64 $17625. Geejay's prior estimate was spot on but the only rationalization for this price is that it is a "conditional" rarity. That does not remotely justify an almost 3X multiple to its MS-63 counterpart. And compared to the other lots in this sale, it is also an extremely poor value and in my opinion, not a good "investment" at this price either. By way of comparison, someone else could have bought the MS-63 and either all of the 2/ or 2/6 in this session with the same money.

 

1965 English Legend Rand PR-65 $2350. I'm not sure how many of the estimated 85-120 actually still exist, but given the weak demand for RSA generally, this price makes no sense though it is not substantially out of line with prior sales from what I recall. By way of comparison, relatively recent sales of several 1934 KGV proofs on Heritage were for LESS than this one and I would rate the chances that this coin is actually scarcer than they are to be essentially zero. I consider every one of these low mintage RSA coins to be badly over rated.

Edited by jwither

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geejay50
Hello All,

 

I was forwarded an email offer from SCoin Shop to-day to a friend on the following four ZAR Ponden each one at R35,000, alongside I have entered the Coinguide SA average amount of three sales of each coin of the NGC grade within the last two years:

 

Geejay

 

I have been forwarded another email sent by a "Senior Inbound Broker" for SCoin Shop that is of interest,

 

1898 NGC MS62 Single Shaft Pond R35,000 (Coinguide SA 1 year average R10,362-46)

1892 NGC MS61 Double Shaft Pond R200,000 (Coinguide SA Total Average R36,206 based on verified Heritage USA Sale)

1892 NGC MS62 Double Shaft Ponden (Two) R225,000 ie R112,500 each (Coinguide SA Total Average R34,297 based on 2011 Heritage USA Sale)

 

The email gives a few pics and the Single Shaft Double Shaft Pond story and at the end it is said ' Any ZAR coins under R50,000 tend to sellout quickly so if you are interested, please let me know as soon as possible?'

 

Have you any comments on this apart from the three fold price hike at least and the one on one rough selling technique without market precedent? The recipient is a new collector.

 

Geejay

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jwither

No, I do not. But perhaps someone who answers your question might be able to also answer mine. Below, I have listed some recent sales on BoB that I have been tracking. I do not subscribe to the SA On-Line Coin Guide and do not know if these are representative of the current market since I have not been an active buyer for quite a while. I only follow prices on eBay and auction houses. However, these seem really low to me. All closed within the last week.

 

1924 NGC MS-63 2/6: R5115

1929 NGC MS-62 2/: R6625

1927 NGC MS-62 BN 1D: R1666

1932 NGC MS-62 6D: R761

1930 NGC MS-61 1/: R3993

 

The 1924, 1929 and 1930 are particularly striking to me for their weak prices. Heritage recently sold a 1924 NGC MS-64 2/ for $3525. Granted, not the same coin in the same grade but roughly equivalent in desirability. The 1930 1/ price to me is probably what I would expect to pay for an AU-58. I have commented many times before that in my opinion, many AU-58 are better than MS-61 (a grade I do not particularly care for in many or even most instances), but the market pricing disagrees with me.

 

The 1927 1D is maybe slightly more than what I would expect an AU-58 to fetch. The listing stated 19 MS in the NGC census (no mention of PCGS) which is quite an increase (proportionately) from what I recall several years ago, but this coin is hardly common. Seems to me that it used to easily be a $1000+ coin since I consider it the third scarcest KGV 1D after the 1932 and 1931.

 

If these prices are representative of what these kinds of coins are now selling for, there are certainly many people with huge proportional losses on their "investments".

Edited by jwither

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Pierre_Henri

1892 DS Pond

 

Hi George and Ernesto

 

Before I leave a comment I think George made a mistake in his posting?

 

Are you saying that the Scoin shop asks R200 000 for a MS61 1892 DS Pond and but only R112 500 for the same coin in a higher

grade at MS62?

 

That is impossible?

 

Pierre

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jwither

One correction to my last post. I meant to compare the Heritage 2/ to the BoB 1924 2/6, but not to the 1929 2/ or 1930 1/.

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Rare NotesCoins
I think this coin will sell for more than R40000 or about $5000 if sold at a no reserve auciton. Personally, I like the color. However, I am not sure about the strike. The beard looks weak to me and I would expect better.

 

My opinion on price is based upon the 1927 1/ current bids on Heritage. I am having trouble with my NGC account now so I cannot look at the census. But I consider the 1927 2/ superior and more desirable than the 1927 1/. The last time I checked, it was slightly scarcer (according to the census) and on my list of 2/, I rank it fourth from the KGV (behind the 1931, 1925 and 1926) about the same as the 1938 and 1946, though I think it should sell for more than the latter two because the KGV series is more popular.

 

Just to let youy know. The MS 63 Sold for R62500 and the MS 64 for R100 000. Regards

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jwither
Just to let youy know. The MS 63 Sold for R62500 and the MS 64 for R100 000. Regards

 

Thanks for letting me know. I think those prices are reasonable for both sides. The multiple between these two grades was much less than on the 1927 1/ in the Heritage sale and more what the latter should have been. Also, the 1/ should sell for less than a comporable 2/.

Edited by jwither

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jwither
One correction to my last post. I meant to compare the Heritage 2/ to the BoB 1924 2/6, but not to the 1929 2/ or 1930 1/.

 

Sorry to have to correct myself a second time but one of our colleagues was kind enough to point out to me that the 1924 2/6, 1930 1/ and 1929 2/ are SANGS coins and not NGC. So my original question on these coins was invalid. If anyone else wants to comment on the other two and recent prices of simialr coins, I would still like to hear it.

 

Of course, this also brings up another line of commentary I could raise, but I will leave it for now and let someone else who may want to comment on it have the first try.

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Pierre_Henri
Sorry to have to correct myself a second time but one of our colleagues was kind enough to point out to me that the 1924 2/6, 1930 1/ and 1929 2/ are SANGS coins and not NGC. So my original question on these coins was invalid. If anyone else wants to comment on the other two and recent prices of simialr coins, I would still like to hear it.

 

Of course, this also brings up another line of commentary I could raise, but I will leave it for now and let someone else who may want to comment on it have the first try.

 

I was also not aware that they were SANGS graded coins - one simply cannot compare Sangs graded coins vs. NGC or PCGS at the moment - it would take a year or three for the market to accept or reject Sangs and only THEN one would be able to compare / comment on this.

 

At the moment I think Sangs coins are huge bargains because buyers - as always - are very wary about new start ups.

 

Pierre

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geejay50
Hi George and Ernesto

 

Before I leave a comment I think George made a mistake in his posting?

 

Are you saying that the Scoin shop asks R200 000 for a MS61 1892 DS Pond and but only R112 500 for the same coin in a higher

grade at MS62?

 

That is impossible?

 

Pierre

 

Hi Pierre,

 

I did not make a mistake, the price asked for an MS61 1892 Pond Double Shaft was R200,000 by SCoin Shop.

 

I have forwarded you the email

 

All collectors take note of this ridiculous price

 

Geejay

 

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geejay50

Dear Collectors,

 

A further email forwarded to me by a friend who was offered the following Proof ZAR Coins and their Prices by the same senior consultant working for SCoin Shop:

 

1892 6d PF63 PCGS graded R100,000 (Coinguide SA 2011 PF61 R27,600)

1892 6d PF62 NGC graded R100,000 (Coinguide SA 2012 PF 62 R22,100)

 

1892 1/- PF62 PCGS graded R125,000 (Coinguide SA Pf63 R26,832)

 

1892 2/- PF64 PCGS graded R140,000 (Coinguide SA Pf61 R31,511)

 

1892 2/6 PF64 NGC graded R200,000 (Coinguide SA 2012 PF64 R67,080)

 

Complete ZAR Proof Set is offered at "about" R9 Million

 

Anybody who has questions about the veracity of the above can get the email forwarded to them by contacting me.

 

 

Any thoughts or comments about the above?

 

 

Geejay

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jwither

Geejay,

 

Due to the SACoin Guide and the source data which they use and which is also available to everyone in some instances, anyone should be able to see whether these prices are or are not reasonable. In this instance, the answer is obviously "no" but I do not see much difference EXCEPT in degree with many prices I see on BoB right now for many coins. The same applies to a much lesser extent on eBay.

 

I have been more active in monitoring BoB listings for the last few months and I see the same coins listed over and over for prices that are vastly excessive and which no informed buyer is going to pay. What I would like to know is, what makes these sellers believe anyone they are ever going to get their ask prices?

 

In the example you gave, I believe that a reasonable price for a complete 1892 ZAR proof set is probably in the range of $300,000 to $400,000 except one composed of the best specimens which should sell for somewhat more.

 

To provide some perspective on this ask price, R9 MM is somewhat over $1MM. So how many proof sets anywhere sell for that kind of money? Let's look at some candidates.

 

The US King of Siam set was sold for about $8.5 MM several years ago by Goldberg. This set includes an example the 1804 "Original" or "Class 1" dollar, an 1804 eagle ($10 gold) and a gold medal with the portrait of President Andrew Jackson. the rest of the coins are dated 1834 except that the very scarce half eagle ($5 gold) is missing. I believe there is one other set like it, though I'm not sure it includes the same items.

 

Though I do not believe they were sold as full sets, there are probably any number of US dates which are worth that much or a lot more if someone could ever acquire all of the coins. Any complete set dated prior to 1858 is easily worth more than $1MM if it is complete and the quality is high. The original mintages for these dates is probably no more than 40 and today likely fewer or far fewer survive. Some later dates such as 1875 probably also because the $5 and $10 circulating gold are rare. All of these sets contain up to 15 or 16 coins with up to six gold.

 

A top 1930 Australia set may approach $1MM due to the rarity of the 1D. I'm not aware of any others that would sell for anywhere near this price, even though individual KGV proofs are among the most expensive proof coins in the world.

 

There may be a Russian proof set that could sell for close to $1MM but if so, I do not know which one.

 

I believe there is a 1911 Canadian specimen set which includes the $1. If so, this set may sell for $1 million.

 

The above are it to my knowledge except for "sets" composed of handful of coins where most of the value is represented by one.

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Pierre_Henri
Geejay,

 

Due to the SACoin Guide and the source data which they use and which is also available to everyone in some instances, anyone should be able to see whether these prices are or are not reasonable. In this instance, the answer is obviously "no" but I do not see much difference EXCEPT in degree with many prices I see on BoB right now for many coins.

 

I agree 100% - the prices of the SCoin shop that was posted here is ludicrous and mindbogeling ("Kan dit waar wees?" - that is what I asked Georg but was probaly misunderstood - seems like my post was read as if I support the SCoin shop guys - nothing could be further from the truth.

 

BUT, this is a free country and if you want to ask a million rand for a 1961 Half cent you are MORE than welcome to do so.

 

That is why I agree with Ernest that I ALSO do not see much difference. Piet Pompies is asking R100 for a coin worth R1 and John Doe is asking R1000 000 for a coin worth "only" a Hundred Thousand Rands - what exactly is the difference?

 

Both sellers are only fooling themselves. And both the prospective buyer(s) will get ripped off a hunderd times - but, as I have said, there is nothing illegal about this, they can ask a Gizillion-trillion (pinky in mouth) rands for their coins if they wish to do that.

 

As long as there is a money-back offer like many of us are offering on Bid-or-Buy - I do not really care who is selling what at whatever prices

 

If you are foolish enough to bid R1000 on a half cent of 1961 (offered with say a 7-day money back guarantee) then the buyer must take the hiding if after a month or three he/she realize that the investment was not all he/she thought it would be.

 

I think the Scoin shop is asking laughable prices for their coins, but so might Checkers doing the same for their bread and butter.

 

There is a saying for this in Roman law, but hell, its been a while, and I just cannot remember it.

 

Could be "Buyers Beware?"

Pierre

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alloway65

Caveat Emptor!:blink1:

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