The secondary market for medals isn't always great. However, these items are great quality and are accompanied by a good amount of historical information about the original items apparently. If you enjoy them and like the look of them, great. I don't know that many people would regard them as a strict investment though.
Quote from: 'Goldfish' pid='24353' dateline='1375995820'Hi,
Thoughts on the attached? Nice coin/medal?
Not sure on investment potential as way above spot, and isn't the market for medals slightly in the shadow of the coins market?
Still, I think it's nicely done. I do wonder how they got all the coins graded at PF70? Would they destroy or melt down a lowly PF69. :-)
Thanks,
Rich
http://www.perthmint.com.au/catalogue/port-phillip-kangaroo-gold-proof-replica-medallion.aspx
A full set sold at Heritage Auctions in the US about a week ago for a touch above spot gold value.
very nice set. Shame they are not appreciated or appreciating.
Quote from: 'acrellin' pid='24361' dateline='1376024625'However, these items are great quality and are accompanied by a good amount of historical information about the original items apparently.
And most that information is wrong as it is just parroted false narrative from the mid to late 1800s.
In 1852 Peter Tindall commissions the construction of a 660 nrt clipper that is launched on the 24th of March 1853. Completed in April of '53 the clipper is built for the England to Australia run. The clipper, named the Kangaroo, is purchased and becomes a part of a venture by a consortium consisting of P. Tindall, Dr Thomas Hodgkin and W J Taylor.
Legend has it that Taylor plans to open a private mint in Melbourne and make money on a gold price differential between field price and full price. That legend has no real basis in fact.
In the later half of 1852 the gold price in Australia is on the increase and climbing from 67s in early Oct of 1852 to around 71s by the start of the year 1853. Mid year concerns that the banks would cease issuing against gold and that the price would not hold against the English price caused the price to dip to 60s but those concerns have been dispelled by late 1852. (The Argus 1852 and 1853)
The venture by the consortium is known as the Kangaroo Office. It involves cargo movement from England to Australia, some passenger movement and opening a store in Port Phillip selling goods that also involves a stamping press to make gold bullion coins (rounds) and trade tokens.
The Kangaroo sails from London on the 26th of June 1853 but the day before a legal Indenture (Deed) concerning the stamping press is signed between the consortium and Reginald Scaife. Reginald Scaife who is to manage the store is the son in law of venture capitalist Dr Hodgkin.
The Indenture is between "Dr Hodgkin and Others" and "Reginald Scaife"; others being P Tindall (Jnr) and W J Taylor.
(https://commons.wikimedia.org/wiki/Category:Stamping_press_sales_document_1853)
In the Indenture Deed it states the three capitalists are the owners of the stamping press and associated dies and machinery; it is not just Taylor's press and equipment.
It states that the press is being leased to Reginald Scaife for £30 p.a. and that Scaife is to further pay the consortium 2/3rds of any profit above £200 p.a. that comes from stamping gold or tokens. The Indenture outlines how Scaife is to pursue the purchase of gold to stamp into the Kangaroo Office pieces and that the cycles is to buy gold, assay gold, stamp gold, sell gold, buy more gold. The Indenture Deed is clear the gold and token arm of the venture is Scaife's business and the venture capitalists stand to each gain 2/9ths of any profit over £200 p.a. should that arm do well.
Scaife himself is the main beneficiary of the Deed standing to make 1/3 of all profit after the first £200, the first £200 profit is his.
Taylor is a minor beneficiary of an Indenture Deed to establish Scaife and the press in the colony.
Not exactly the "historical information" that is circulated but every bit of it is verifiable.
It pretty much ends there. The gold pieces are not pattern coin (Vaux 1864), they are not intended to be national coinage (Vaux 1864) and the British Museum in mid January 2023 re-labelled the Kangaroo Office gold pieces from Coins-Pattern to Coins-Bullion (i.e. rounds) thus ending 160 years of misrepresentation.
Taylor never sent a press to Australia with the plan of opening a private mint.
Taylor as 1/3 owner of the press leased it to Scaife in the hope of making some profit should Scaife have success in Scaife's business in Port Phillip.
We have an Indenture Deed from 1853 that says just that.
The above has been known for almost 20 years but the numismatic narrative has not shifted very far from the historical myth.
Kangaroo Office gold pieces are a bullion round that are a residual item from Reginald Scaife's failed 'gold business' that was a lesser part of a failed venture in 1853/54 by a group of English venture capitalists.
What price is a Office piece worth if the true story is the told story?