I hope you're finding these articles about strong prices realised for coins interesting! It will certainly make for interesting historical reading in a few years time to see how the market has moved as PCGS graded coins become more common and more liquid on the Australian coin collecting market. Two days ago one of the pioneers (and champions) of PCGS graded coins in Australia managed to sell a PCGS MS67 1963 Shilling for the remarkable price of $360.
The reason I say this price is remarkable is that the 1963 shilling is not particularly rare in any condition. The PCGS population shows a total of 14 coins in MS67 and 65 in MS66. Despite these large numbers and a mintage of more than 10 million coins this MS67 example still managed 8 times catalogue value. This compares more than favourably with the PCGS MS67 1958 Shilling which sold recently for 7 times catalogue value despite being a much more scarce coin.
This probably indicates a couple of things. First, collectors are willing to pay for quality. Second, it only takes two determined bidders to drive the price of a coin to heady heights. Examination of the bidding history of this coin suggests that this is exactly what happened.
Posted by mnemtsas at April 13, 2011 8:22 PM
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