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November 2003 Coin NewsletterBy Steve Hill We have had a very successful and busy month during October, with the British Numismatic market clearly continuing to go from strength to strength. Every day has been a hectic one at Spink with one event running into another and it therefore seems to have been a much longer month than usual. The beginning of the month started well for the banknote department as the auction on the Friday before the banknote show was very well attended and successful. The IBNS show then took place over the first weekend of the month which was also very successful; with many nationalities of both collector and dealer in attendance. Straight after this was "Coinex" week (6-12 October), the busiest week of our year at Spink. The October Numismatic Circular arrived from the printers on the Tuesday and orders were being received from Wednesday onwards. As October now ends we are still receiving orders from abroad but - alas - many coins have now been sold. I think from the British coin point of view this has been one of the most successful Circulars this year, as the online version now shows. All disciplines listed have sold very well.
On the same day that we received the bulk of our orders from the list we held a very successful "Coinex" auction which contained an eclectic mix of Ancient Greek and Roman coins with a superb offering of Bactrian pieces, foreign and British. Something for everyone in this sale; from lots at a mere £30 to a high of £29,000, which was achieved for a Tetradrachm of Theophilus, a new record at auction for a Bactrian coin. See the snippet of news about this achievement here.
The "Noon" collection of angels and touchpieces also sold very well indeed, with some touchpieces far exceeding expectation. Surprisingly, the top price achieved was for one of the silver pieces rather than for one of the gold. The total achieved for the whole sale was over the pre-sale estimate at just over £400,000 hammer. The evening after the sale our annual "Coinex" party took place in association with the BNTA for table-holders at the "Coinex" show, and selected guests. This was well attended by members of the numismatic trade and usually continues afterwards in various restaurants in the area, another enjoyable and successful event. Friday 10th October dawned early at Spink as we finished final preparations and disembarked for the show at the Marriott Hotel in Duke Street, Grosvenor Square, near the US Embassy. This show was going to be special this year as we launched the 2004 edition of the Standard Catalogue of British Coins - Coins of England, only available at the show from the Spink table. The exclusivity of the launch ensured a steady flow of traffic at the Spink table for the whole two days of the convention. We also had a few exclusive items on display, including a preview of the Matt Proof Edward VIII Threepence of 1937, which will appear in the December Numismatic Circular, as well as a very special custom made proof set of Queen Victoria dating from the 1847-53 period. Many dealers had some very nice stock on display and I am sure we all did very well at the show this year. We sold many books and coins and met some very interesting people. The weekend after the Coinex show, Jeremy Cheek, Hadrien Rambach, Paul Hill and I travelled to Paris, France for the Salon Numismatique Fair in the Palais De Bourse in central Paris. We also managed to see the collections on display at the Bibliotecque Nationale which is a definite must see for the numismatic traveller in Paris with some fascinating coins on display. The show is a one day event on the Saturday, though it was good to arrive on the Friday and tour the many coin shops which are all in the Rue De Richelieu and Vivienne area of Paris. The show was very successful and we were pleased to meet and deal with many of the French trade who we never see in London. All in all a pleasant trip which we wish to repeat at the next convention on 13th March 2004.
Shortly after this, the catalogue for the November 12th Coin sale appeared. This has been very well received by collectors and the trade with its stunning front cover shot of the extremely rare plain edge pewter pattern Crown of Charles II dated 1663, which is admittedly the best example of a pewter crown I have seen so far of any vintage. The estimate of £8,000-£10,000 will I am sure turn out to be quite conservative overall. This coin forms part of the LaRiviere Collection of Charles II pattern coins which also includes a unique medal of Charles I in gold and a currency gold broad of 1662.
The Crowns, the work of Thomas Simon, are the most spectacular part with the most valuable item being the Petition Crown of 1663, which bears Simon's petition in two lines round the edge, to the King to re-employ him as chief engraver at the Mint. This is the second specimen of this extremely rare and most spectacular of coins we have offered for auction this year. Never before has a dealer ever offered two specimens of such a rare and celebrated piece within the same year. The first this year of course being the new world record holder of the most valuable British silver coin, sold in the Slaney collection for £138,000, which was in extremely fine condition. This specimen is estimated at a conservative £30,000-40,000 though this reflects the condition, which is almost very fine. Still a reasonable piece and a very desirable coin being one of the most sought after pieces in the entire British milled series. The collection also contains an example of the "Reddite" pattern crown, which carries the same designs as the more famous petition but has a one line Latin inscription around the edge. This piece is accompanied by a 20th Century silver box for the coin which carries all the previous owner's names, though after conducting some serious research on this in the short time allowed to catalogue the coin it appears there are a couple of minor errors in this provenance. The full Spink theory for the correct provenance appears in the catalogue available both online and for purchase in printed format from the department. The Reddite crown is estimated at £12,000-15,000 and is the first one offered in a London auction for over ten years.
The sale also contains a pewter version of this coin at £6,000-8,000 and the front cover's plain edged version already mentioned. Additionally the sale contains an extremely rare lead impression taken from the dies probably in the mid-eighteenth century which shows an advanced stage of the dies with distinct die flaw evident which is only slightly detectable on the earlier Petition pieces. The piece is very thick, weighs over 200 grammes and is recorded by Linecar and Stone in their work as unique. Another unique piece is the obverse cliché of the Petition die that has been mounted in a silver frame with inscription which was last sold in the Manville Collection by Spink in 2001. The sale should prove to be very exciting with some very nice quality gold pieces dating from Elizabeth I to William and Mary. I think November 12th should prove to be a very exciting day.
To carry on the momentum, the December Numismatic Circular is in advanced production stages now and will contain a very impressive list of rarities in the milled series with many patterns and proofs in various metals and with some extremely rare dates and varieties of the various monarchs through the ages. There will be about 135 items listed, which is one of the largest groups we have ever had, and total value is over £200,000. I hope that many of you will find something to treat yourselves to this Christmas season. In conclusion, what an exciting month October was - and how wonderful will November be? Proof will be in the auction of the 12th followed by our Christmas Circular in December. January 2004 will find us exhibiting at the FUN (that’s Florida United Numismatists) show in Orlando, Florida and at York Racecourse (details to follow).
Until December, enjoy your coins.
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