Hi all, time for an update on coin prices!
Update April 19th 2022
There seems to be a downward trend the last few months on the prices achieved in auctions of the new modern coins sales, especially on silver coins. An exception is for the proof sovereigns which, not surprisingly, are doing very well on the auctions, ebay and facebook groups! For the rest of the modern coins, It seems that Royal Mint have been releasing too many coins and the collectors (and other buyers) have run out of steam and cash. Many flippers did not manage to sell the coins easily for a quick profit and panicked undercutting each other out and driving secondary prices down (this can be seen at the Gothic Crown silver portrait secondary prices selling at release prices). Many popular series like proof Britannias 2022 did not sell out on most coin denominations (with very high mintages that the RM in all their wisdom decided to have not helping) and the new promising “Monarch Series” latest release King James I experienced a similar thing (The RM decided to partner with Heritage Auctions and give the 500/600 1oz proof gold coins in pf70 for exclusive sale, leaving only 100 coins for us mortals). Only the 1oz proof silver has sold out in a few minutes due to very low mintage of approximately 1250 coins.
RM is extremely slow on new coin deliveries, sometimes taking over a month to send the coins out, however it seems that they have improved their quality control in the last few coins, at least to my experience.
At the moment, the covid situation seems to be fading away, although the inflation is at very high levels affecting prices of all goods. The war on Ukraine is also not helping the global economy and hopefully it will end soon and peace will prevail. People seem to be more reluctant to buy as all the above reasons are having everyone wanting to save some cash just in case things go worse.
Below the update in prices from recent sales and auctions.
CC= Coin Cabinet Auctions, HA= Heritage Auctions, Ebay= Fleebay 🤣
2019 Gold Una & The Lion 2oz £59,000 ➡️ No new sale
2020 Gold Three Graces 2oz £17,500➡️ £13,500 (source: CC= Coin Cabinet)
2021 Gold Completer 1oz £4500➡️ £4500 (ebay sold over £6000 but most sales in groups around £4500)
2021 Gold Gothic Crown Q.Arms 2oz➡️ £8500 (CC)
2021 Gold Gothic Crown Portrait 2oz➡️ *£8500 (only raw and pf69 sales of around £6500 achieved)
1989 1 sovereign £1900/ 5 sovereign £6500 ➡️ 1SOV £2000/ 5SOV £7500
2002 1 Sovereign £700/ 5 sovereign £3000 ➡️ 1SOV £750/ 5SOV £3100
2005 1 sovereign £700/ 5 sovereign £3000➡️ 1SOV £750/ 5SOV £3100
2012 1 sovereign £1400/ 5 sovereign £6,500 ➡️ 1SOV £1200/ 5SOV £6500
2016 1 sovereign £950 / 5 sovereign £4,500 ➡️ 1SOV £850/ 5SOV £3300
2017 1 sovereign £1000 / 5 sovereign £5,500 ➡️ 1SOV £1075/ 5SOV £5500
2022 1 sovereign N/A ➡️ 1SOV £900 / 5SOV £5750
2014 Britannia 1oz £7,500➡️ No recorded sale
There were many good deals for buyers in the past couple of months auctions done by heritage and CC, as the prices achieved on most coins were below fair market value due to the reasons above but also some auctions were taking place in bad auction days (mothers day) where most of us where busy and could not bid on the coins we wanted.
What do you all think the market is moving from here onwards?
Would you like to monitor some key or popular silver proof coin prices as well? Please comment and let me know.