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Prices are seemingly an indication of the buoyancy of the rare coin market.
London, UK (PRWEB UK) 7 July 2014
In numismatic sales that took place at A.H. Baldwin and Son Ltd on May 8, records tumbled as in one instance, an Elizabeth II 1953 Gold Proof Sovereign fetched no less than £384,000. That wasnt the highlight of the day, as the 1937 Edward VIII Gold Proof Sovereign, the only one that a private collector can own, fetched a staggering £516,000.
With every year that passes, rare coins and collections of coins become ever more valuable to collectors. As demand begins to outstrip supply coins are beginning to change hands at record breaking prices.
According to a news report published by Daily Mail Reporter of the Mail Online on 9 May 2014, thats what happened when an incredible rare coin bearing the head of Edward VIII sold for a record £516,000. The highest sum ever paid for a British coin. Only six of the coins were ever made to show the King, four are in museums, one is in a complete set of rare sovereigns and this is the sixth.
After some fierce bidding the 1937 Edward VIII Gold Proof Sovereign eventually sold for £430,000, but with fees the total hit £516,000.
Jordan Lott, of Regal Rare Coins, based in Chester had this to say about his acquisition of the coin. I was the first to place a bid and I was determined to be the last. In the world of coins, it's the coin's story that makes it important, and this coin has the most fantastic story. It's also beautiful and in mint condition I would have paid another £50,000 to make sure I got it.
Mr Lott, whose firm is part of the Regal Group which is featured in Pawn Stars UK, the British version of the hit TV series Pawn Stars, says he will hang on to the coin, which he believes will be a good investment.
Elliot Basker, Online Business Manager, Hallmark Coins, says, Hopefully this is an indication of how buoyant the market for rare collectable gold and silver coins at present. We have always believed that British coins are seriously undervalued and with this record price for the 1937 Edward VIII Gold Proof Sovereign, we hope that they will now get the recognition they deserve.
The other coin to feature prominently on the auction bill on the day was of course the Elizabeth II 1953 Gold Proof Sovereign that fetched no less than £384,000.
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