June 2004 Coin Newsletter

by Steve Hill

Welcome, Cyberfriends, to the June 2004 edition of the Numismatic Report. May has proved to be another busy month, and cataloguing for the July 15th sale is now completed. The sale, although a little thinner than usual, makes up for the lack of quantity with quality. There is a very nice run of hammered silver crowns which starts with every year of Edward VI including the rare 1553. These are followed by very good crowns of Elizabeth I including the Norweb specimen of the mint mark 2 piece and a reasonable Eight Testern portcullis money coin. Then follows a number of James I and Charles I with a few Scottish pieces included for good measure. There is also a very nice run of hammered gold nobles running right through all the reigns in which nobles were struck. The value of the sale really mounts up with these two groups of coins, with additional milled and hammered coins added as well as foreign: it will make an interesting mix. In the milled section, there is an exceptional William and Mary Halfcrown of 1690, the best I have seen so far in my time at Spink, in good EF condition and with only has a few striking weaknesses both sides to detract it from being an FDC piece. I think this coin will be hotly contested. There are a few other little gems also to be found, and the catalogue will be out in the next two weeks.

This column is a little later than usual, as Jeremy Cheek and I have just returned from an interesting coin show in Long Beach, California. We attended some auctions over there where we purchased well, especially as the exchange rate was somewhat in our favour, hovering around the 1.82 mark. It was another long flight of twelve hours, and of course a time difference of eight hours, but it was certainly worth the effort. Many dealers and collectors who know us being very pleasantly surprised to see us there, and others who did not know us so well personally were very welcoming. The show was held at the Long Beach Convention Centre next to the Long Beach Aquarium and just across the harbour from the Queen Mary. The show is very big - about the same size as the annual ANA show, which this year will be held in Pittsburgh in August. For the first time this show was concentrated into three days instead of four, which proved to be a very popular decision, and the time went quickly. This is one of the only shows I have been too where there is musical accompaniment to pass the time, with the local “oldies” radio station playing in the background. The only other show I have been to with music is the Tokyo Fair where classical music is played the whole time. I think music is a good idea while you are working with coins, the table holders are more enthusiastic to deal with customers. All in all a good show that we hope to repeat visit next year. The show is actually held four times a year, but we will have to limit ourselves to one attendance a year I believe.

On the same weekend the London Coin Fair occurred too which was well attended with plenty of activity. Though Spink do not take a table there, as we see most serious people who come to the show on the Friday in our offices, a number of Spink personnel walk the room and reported that the show was a crowded one!

Our latest Circular has just been released and early indications show the gold coins are selling the best. British hammered has performed well and the cover coin of Richard III has received a great deal of interest. Coins are selling fast and what has surprised me is the number of Five Guinea pieces that have been reserved or ordered. Milled gold is really being appreciated well these days; however the milled crowns are moving a little slower, though some major pieces have been ordered.

Some of my favourites are amongst the Five Guinea pieces: the George II EIC coins, the Gothic Crowns of Queen Victoria and the superb 1934 Crown of George V which is extremely rare. The Anglesey tokens have also sold very well including the rarities. A very pleasing piece that is still available is TT2999 the 1790 Pattern Penny which is a major rarity. The medallions are also selling well, which is all very good news, as the market remains buoyant. What is left from this Circular will be online about a week from now, so it will be interesting to watch how things progress.

I will be back with my next report at the beginning of July as we prepare for our auction. Until then, enjoy your coins.

Stephen Hill
Associate Director