CV of Australian Pre Decimal coins - Going down ?

ausproofs · January 10, 2015, 09:50:42 AM

Hi Folks,

Just looking at some auction and other (eBay) sales results in the last 2 years, it seems some coins that was selling for very high prices previously are now going fairly cheaply (comparatively). Ie 1932 Penny MS64BN... Over $2K about 2 years ago to about $500 now... It's the same for most of the other coins as well.... I can think of a few reasons such as people grading more coins so population going up driving prices down ( simple supply and demand ), financial situation globally etc..

What are your thought ? Love to hear your opinion ...

Disclaimer - I am not only talking about TPG graded coins or high grade coins... I think as a whole it is going down.. So everyone is well come to comment.... :wavemulticolor:

robbiegal · January 10, 2015, 09:57:52 AM

years ago the 1925 and 1946 pennies sold like hotcakes and above CV values
now it takes months to sell a single one and at much less than cat. value

we put $100,000 into our house in improvements this year
had it revalued recently - increased $25,000 in value - the guy said 'it is a slow market ' at the moment. I think slow markets are across the board
The CEO at mint said to me the other day that people just don't have the disposable income for the little luxuries anymore (or are unwilling to spend on them)

trout · January 10, 2015, 10:09:12 AM

Is this a BAD thing ?
As a collector I think personally that it is a good thing :yahoo:

it may not only be the effects of a "Downturn" in the economy that is effecting the values of pre decimal coins, It may be that new collectors are concentrating on the Decimal coins because they are easier to source and are far cheaper than the pre decimals :ok:

QuoteThe CEO at mint said to me the other day that people just don't have the disposable income for the little luxuries anymore (or are unwilling to spend on them)

I may also be that many collectors have been "Jaded" by the mass production of NCLT of late and that is affecting the RAM's sales figures

Nightparrot · January 10, 2015, 11:05:38 AM

I agree that values of predecimal coins are down across the board, except for the top shelf stuff.

drakesterling · January 10, 2015, 12:29:36 PM

Down down prices are down.

There has been an easing of prices in general. A few dealers going under, an increase in the number of dealers getting coins certified, and the general level of confidence in the market have all worked against prices.

As trout points out, prices going down is not necessarily a bad thing. Case in point, I had always thought I'd missed the boat when it came to pre-55 pre-decimal proofs, but prices are coming down nicely that they are almost affordable.

duggee27 · January 10, 2015, 03:54:12 PM

so eric is this now yours ?? :angel:

http://coins.ha.com/itm/australia/world-coins/australia-george-v-6-piece-proof-set-1934-total-6-coins-/a/3037-31006.s

a prime example of prices going down as stated in the blurb a similar (??) set in 2010 sold for $us 276 000.... the above sale was absolute bargain !!

ausproofs · January 10, 2015, 04:44:48 PM

Thanks for the reply guys... Don't get me wrong. I am not complaining as I have lot of coins to add to my collection. I personally think prices will go down further.. I think coin prices are directly linked to people's disposable income and the world financial situation..

Keep your options coming....

dreamcatcher · January 10, 2015, 05:03:48 PM

After several of the big auctions late last year I went through the prices realised of Aussie star notes (some of the most desirable Australian notes). I also went back through the archives to 2005 to see how they'd done over the last 10 years. Values had almost exactly halved across the board!!!

That's a big drop in value and is not isolated to star notes in Australian numismatics.

With our national demographics changing rapidly, an increasingly cashless society, millions of new 'flashy' products being pumped out by the RAM, not to mention all the non-numismatic must have possessions, I just can't see numismatic values increasing at all.

I don't consider my collection to be a good investment at all. Cash in the bank would probably do better on 3.5% pa.

It's a bit sad but that's the reality.

dcoin · January 10, 2015, 05:08:34 PM

Quality coins are doing well and so are key dates. Mid range coins are the ones to struggle, for example a 1936 florin in almost uncirculated condition wont do well however a gem example is going strong.

Nightparrot · January 10, 2015, 05:34:53 PM

Another factor is the Aussie dollar. Heritage has had some very nice predecimal coins lately but the change in our dollar relative to the US dollar made them quite pricey.

ausproofs · January 10, 2015, 06:28:02 PM

Quote from: 'dcoin' pid='65131' dateline='1420871914'Quality coins are doing well and so are key dates. Mid range coins are the ones to struggle, for example a 1936 florin in almost uncirculated condition wont do well however a gem example is going strong.

Its bit of a hit and a miss... I am mainly concentrating on sixpence at the moment. At th moment 1939, 1953, 1940 etc in high grades going much cheaper. .. I think supply and demand has a lot do with it.. like Eric said, lot of dealers are grading coins in bulk. My theory is after a certain time people are going to run our of new coins to grade, then prices will go up.. same as what happened to US coins... some US coins have 100's in the Pop chart, still the key date coins are selling for a strong price... only time will tell....

markn · January 10, 2015, 07:56:47 PM

Quote from: 'duggee27' pid='65126' dateline='1420867452'so eric is this now yours ?? :angel:

http://coins.ha.com/itm/australia/world-coins/australia-george-v-6-piece-proof-set-1934-total-6-coins-/a/3037-31006.s

a prime example of prices going down as stated in the blurb a similar (??) set in 2010 sold for $us 276 000.... the above sale was absolute bargain !!

Ouch. I hope the seller isn't the one that bought it for $276,000.

robbiegal · January 10, 2015, 09:36:50 PM

"We have been lucky to sell this set twice (not the same coins however) in our history,"

dcoin · January 10, 2015, 10:20:22 PM

Quote from: 'markn' pid='65135' dateline='1420882007'Ouch. I hope the seller isn't the one that bought it for $276,000.

The $276k set was superior. Having said that im not sure it was $150k superior.

duggee27 · January 10, 2015, 11:05:15 PM

Quote from: 'markn' pid='65135' dateline='1420882007'
Quote from: 'duggee27' pid='65126' dateline='1420867452'so eric is this now yours ?? :angel:

http://coins.ha.com/itm/australia/world-coins/australia-george-v-6-piece-proof-set-1934-total-6-coins-/a/3037-31006.s

a prime example of prices going down as stated in the blurb a similar (??) set in 2010 sold for $us 276 000.... the above sale was absolute bargain !!

Ouch. I hope the seller isn't the one that bought it for $276,000.

no its not
note that the next lot - a 1953 proof set did not sell !!