Three graces coin

[Lr103]

11 minutes ago, BullionMole said:

Hello - newbie here.

Can I ask, what's the buzz about the Three Graces coin?

I've followed the forums for a little while and find it fascinating that certain coins create such a thrill.

Can anybody explain, in layman's terms, what it is?

Thanks in advance,

BullionMole

I personally like this coin, and the last one (Una and the Lion), as they are very nice and popular designs from a few hundred years ago, struck by the same mint that made them in the first place.

That said I would never have predicted how much the price has moved up, but at the same time, I own both and haven’t sold.  It’s tempting though 🙂

[Roy]

£2000 profit.

That is all.

Everyone who bought one from the mint will sell it and everyone who bought one on the secondary market will lose their shirt.

Ash will be knocking them out for £300 sold as bullion next year 

[Becca]

1 hour ago, BullionMole said:

Hello - newbie here.

Can I ask, what's the buzz about the Three Graces coin?

I've followed the forums for a little while and find it fascinating that certain coins create such a thrill.

Can anybody explain, in layman's terms, what it is?

Thanks in advance,

BullionMole

The RM decided to launch a new series of coins called The Great Engravers to commemorate engravers of coins from past years. The first coin launched 2020 was Una and the Lion. They were not launched in massive numbers I think the 2oz silver was 3000 and the gold around 225.

When they were released they were in fact beautiful but the numbers caused a slight problem as every collector wanted one. You have 2 types of buyers, true collectors and flippers. For the flippers this was an ideal situation as numbers of coins were low and demand high so it drove the prices up.  Golds hit 25k and graded silvers were making up to 6k, it basically went mental. The mint release prices were £4485 and £180

Now we have the second coin in the series The Three Graces, again small numbers ( 3500 & 325 ) and again a frenzy. This time however some people are sending their coins to be graded as they realise there is a lot more money to be made. Grading takes time and until those graded coins hit auction it is difficult to put a price on the coins in the market.

Hope this helps and I got it right

B

Edited March 2, 2021 by Becca

[blindedbythelight]

20 minutes ago, Becca said:

it basically went mental.

Hope this helps and I got it right

 

Sums it up nicely I think, will be even worse for next coin

[Pete]

Some silly prices out there but "horses for courses".
Compare to the Churchill GCSE level art that just sold for over £8 million.
A coin or piece of art is only worth what someone else with money will pay.
Just hope they pay their capital gains tax.

[cliveb13]

40 minutes ago, Becca said:

The RM decided to launch a series called the great engravers to commemorate engravers of coins from the past. The first coin launched 2020 was Una and the Lion. They were not launched in massive numbers I think the 2oz silver was 3000 and the gold around 225.

When they were released they were in fact beautiful but the numbers caused a slight problem as every collector wanted one. You have 2 types of buyers, true collectors and flippers. For the flippers this was an ideal situation as numbers were low and demand high so it drove the prices up.  Golds hit 25k and graded silvers were making up to 6k, it basically went mental.

Now we have the second coin in the series The Three Graces, again small numbers ( 3500 & 325 ) and again a frenzy. This time however some people are sending their coins to be graded as they realise there is a lot more money to be made. Grading takes time and until those graded coins hit auction it is difficult to put a price on the coins in the market.

Hope this helps and I got it right

B

Great summary. Sounds like a few people think there will be a price bubble around these coins, Una & Graces. Certainly has ingredients of frenzy buying, a very narrow & not transparent market ( eBay ) & the low intrinsic cost of the ingredient 

not everyone can make ££ on every sale. Someone will be left holding the bag. I think it depends on how many of the initial allocation end up with long term collectors or holders. If it’s a narrow market then prices wil be high & the well graded ones especially. As we see in the auctions the 70s across almost any coin genre have a significant premium. 
great summary 

c 

[Becca]

3 minutes ago, cliveb13 said:

Great summary. Sounds like a few people think there will be a price bubble around these coins, Una & Graces. Certainly has ingredients of frenzy buying, a very narrow & not transparent market ( eBay ) & the low intrinsic cost of the ingredient 

not everyone can make ££ on every sale. Someone will be left holding the bag. I think it depends on how many of the initial allocation end up with long term collectors or holders. If it’s a narrow market then prices wil be high & the well graded ones especially. As we see in the auctions the 70s across almost any coin genre have a significant premium. 
great summary 

c 

Thank you

[cliveb13]

A little light relief, and some on here will have heard about this & there are new people who haven’t. But this thread has a wide readership at the moment 

this week, the Mint is auctioning a fine example of the earliest sovereign that can be in private hands 

The sovereign, one of just two in private hands, is Henry VII and is likely to be over $1m 

details are here. https://www.coinnews.net/2021/02/12/royal-mint-to-auction-ngc-certified-henry-vii-sovereign-on-march-4/
 

it’s graded, documented, cared for & about to find a new home on Thursday. 
 

I am sure some will find it interesting 

There is no ‘buy now’ price 🙂

clive 

[Becca]

2 minutes ago, cliveb13 said:

A little light relief, and some on here will have heard about this & there are new people who haven’t. But this thread has a wide readership at the moment 

this week, the Mint is auctioning a fine example of the earliest sovereign that can be in private hands 

The sovereign, one of just two in private hands, is Henry VII and is likely to be over $1m 

details are here. https://www.coinnews.net/2021/02/12/royal-mint-to-auction-ngc-certified-henry-vii-sovereign-on-march-4/
 

it’s graded, documented, cared for & about to find a new home on Thursday. 
 

I am sure some will find it interesting 

There is no ‘buy now’ price 🙂

clive 

I have been waiting for something to swap out my Una with, Thanks   

 

[BullionMole]

1 hour ago, Becca said:

The RM decided to launch a new series of coins called The Great Engravers to commemorate engravers of coins from past years. The first coin launched 2020 was Una and the Lion. They were not launched in massive numbers I think the 2oz silver was 3000 and the gold around 225.

When they were released they were in fact beautiful but the numbers caused a slight problem as every collector wanted one. You have 2 types of buyers, true collectors and flippers. For the flippers this was an ideal situation as numbers of coins were low and demand high so it drove the prices up.  Golds hit 25k and graded silvers were making up to 6k, it basically went mental. The mint release prices were £4485 and £180

Now we have the second coin in the series The Three Graces, again small numbers ( 3500 & 325 ) and again a frenzy. This time however some people are sending their coins to be graded as they realise there is a lot more money to be made. Grading takes time and until those graded coins hit auction it is difficult to put a price on the coins in the market.

Hope this helps and I got it right

B

Fantastic response - thankyou.

From reading the forums I've learnt to monitor spot prices, which coins are/aren't subject to CGT etc. and I was just fascinated as to why these were so popular (66 page thread!). So thankyou for shedding some light on it. I appreciate it.

BM

[Kman]

17 minutes ago, cliveb13 said:

The sovereign, one of just two in private hands, is Henry VII and is likely to be over $1m 

details are here. https://www.coinnews.net/2021/02/12/royal-mint-to-auction-ngc-certified-henry-vii-sovereign-on-march-4/

Just as a small aside I'm descended from Henry VII

My grandpa was part of a Scottish clan which someone set up a genealogy page for, you can trace right back from my grandpa to Henry VII who married his daughter Margaret to James IV of Scotland

 

 

[sovereignsteve]

The short term action is irrelevant other than to flippers. Long term it depends on a few factors.

How big the series will and if the designs continue the high standard.

The mintage compared to the first coin in the series.

The first coin is always the rarest and most sought after in any series.

That's all we need to know.

[Simmoleon]

1 hour ago, BullionMole said:

Fantastic response - thankyou.

From reading the forums I've learnt to monitor spot prices, which coins are/aren't subject to CGT etc. and I was just fascinated as to why these were so popular (66 page thread!). So thankyou for shedding some light on it. I appreciate it.

BM

In about 3 months, this market will settle a bit and we’ll all be speculating on the next coin in the series and 66 pages will be a drop in the ocean.

The first 2 coins in this series have been spectacular; iconic designs which have been minted to a very high standard. These are just very different to other series and their popularity is huge outside of the UK with many going to Japan and the US for example

There is a certain level of FOMO, a certain level of flipping but the Una started off reasonably obtainable but as the awareness of this coin grew it proved the backbone of these sales is just how unique and high quality this series of coins actually are. The feeling when it arrives at your door and you open the case is something I haven’t experienced with many moderns. You can watch YouTube openings with experienced collectors opening these coins and being blown off their feet with them.

There is no easy answer with this coin, it’s popularity is based off how special they are but in turn this has created a whole new level of flipping and secondary markets including grading which is currently out of control.

The fact the Three Graces wasn’t a disappointment just means this could just continue to snowball until the next release 

Edited March 2, 2021 by Simmoleon

[NewCoins]

5 minutes ago, Simmoleon said:

In about 3 months, this market will settle a bit and we’ll all be speculating on the next coin in the series and 66 pages will be a drop in the ocean.

The first 2 coins in this series have been spectacular; iconic designs which have been minted to a very high standard. These are just very different to other series and their popularity is huge outside of the UK with many going to Japan and the US for example

There is a certain level of FOMO, a certain level of flipping but the Una started off reasonably obtainable but as the awareness of this coin grew it proved the backbone of these sales is just how unique and high quality this series of coins actually are. The feeling when it arrives at your door and you open the case is something I haven’t experienced with many moderns. You can watch YouTube openings with experienced collectors opening these coins and being blown off their feet with them.

There is no easy answer with this coin, it’s popularity is based off how special they are but in turn this has created a whole new level of flipping and secondary markets including grading which is currently out of control.

The fact the Three Graces wasn’t a disappointment just means this could just continue to snowball until the next release 

You have nearly made me not want to sell mine. Nearly.

[Simmoleon]

1 minute ago, NewCoins said:

You have nearly made me not want to sell mine. Nearly.

I’ll be honest, I sold my grade 70 Una and regret it - I got a silly amount of money for it and can’t complain but something about that coin I miss a lot. Will at some point return to the market to try and get a replacement.

[TutoredSoup232]

12 minutes ago, Simmoleon said:

I’ll be honest, I sold my grade 70 Una and regret it - I got a silly amount of money for it and can’t complain but something about that coin I miss a lot. Will at some point return to the market to try and get a replacement.

could always get the bar in its memory? 

[cliveb13]

1 hour ago, Kman said:

Just as a small aside I'm descended from Henry VII

My grandpa was part of a Scottish clan which someone set up a genealogy page for, you can trace right back from my grandpa to Henry VII who married his daughter Margaret to James IV of Scotland

 

 

If only you could lay a reliable & credible claim to be the coins’ owner Kman. You would be wealthy enough to have someone do your TSF posts for you. Something we all aspire to. 
Great additional detail. Thank you. My roots only go back to mid-19th & then defy deeper scrutiny 

cheers C 

 

[Fathallazf]

43 minutes ago, Simmoleon said:

These are just very different to other series and their popularity is huge outside of the UK with many going to Japan and the US for example

Also here in the UAE i know 5 people who bought it other than myself. Something i didn't see before. 

[NewCoins]

2 hours ago, Simmoleon said:

I’ll be honest, I sold my grade 70 Una and regret it - I got a silly amount of money for it and can’t complain but something about that coin I miss a lot. Will at some point return to the market to try and get a replacement.

I sold my una 10 or 20% above cost near release time. It still hurts me now. Not just financially, but it's a beautiful coin. I prefer it to the three graces. Perhaps I will look back with the same regret if/ when I sell the three graces.

[fehk2001]

29 minutes ago, NewCoins said:

I sold my una 10 or 20% above cost near release time. It still hurts me now. Not just financially, but it's a beautiful coin. I prefer it to the three graces. Perhaps I will look back with the same regret if/ when I sell the three graces.

There will be plenty of these restrikes about and I am 100% sure royal mint will listen to your comments , 

They might have E.G Una 2022 , Three grace 2022 something like that to fill your wishes 

you will be a happy  again 

5 hours ago, Roy said:

£2000 profit.

That is all.

Everyone who bought one from the mint will sell it and everyone who bought one on the secondary market will lose their shirt.

Ash will be knocking them out for £300 sold as bullion next year 

 

Ash will NOT <<<be knocking them out for £300 sold as bullion next year 

Did you miss the boat ?

😁

Edited March 2, 2021 by fehk2001

[pricha]

I had a strange experience today. I sold my Three Graces on eBay. The seller paid up THEN asked questions about condition etc.  Then we stated he wanted it posted to NGC in London, i had to value it at £100 , and not use a lot of packaging ?  Not sure what he meant by £100 . As i offered free postage Special Delivery and was going to pay extra insurance up to £2000 , no way was i going to value the coin at £100 . It made no sense. Then he replied he was a dealer in Japan and often bought coins this way, they got it graded and forwarded on to him.  I cancelled the sale. No doubt he was genuine but the coin needed to be checked by a third party . If i sent an empty box surely he wouldn't have a leg to stand on ? 

[MikeG1978]

2 minutes ago, pricha said:

I had a strange experience today. I sold my Three Graces on eBay. The seller paid up THEN asked questions about condition etc.  Then we stated he wanted it posted to NGC in London, i had to value it at £100 , and not use a lot of packaging ?  Not sure what he meant by £100 . As i offered free postage Special Delivery and was going to pay extra insurance up to £2000 , no way was i going to value the coin at £100 . It made no sense. Then he replied he was a dealer in Japan and often bought coins this way, they got it graded and forwarded on to him.  I cancelled the sale. No doubt he was genuine but the coin needed to be checked by a third party . If i sent an empty box surely he wouldn't have a leg to stand on ? 

This is why I won't sell mine through ebay

Would he be able to say not sold as  seen and try for a refund or similar 

[NewCoins]

4 minutes ago, pricha said:

I had a strange experience today. I sold my Three Graces on eBay. The seller paid up THEN asked questions about condition etc.  Then we stated he wanted it posted to NGC in London, i had to value it at £100 , and not use a lot of packaging ?  Not sure what he meant by £100 . As i offered free postage Special Delivery and was going to pay extra insurance up to £2000 , no way was i going to value the coin at £100 . It made no sense. Then he replied he was a dealer in Japan and often bought coins this way, they got it graded and forwarded on to him.  I cancelled the sale. No doubt he was genuine but the coin needed to be checked by a third party . If i sent an empty box surely he wouldn't have a leg to stand on ? 

That sounds weird to me. Did he want you to fill the NGC forms in ? Was he going to send them ? What did he mean value it as £100? To royal mail or the NGC ? Maybe something to put on your next listing, you won't be doing that.

[pricha]

You're right. Far too expensive coin to mess about. That's why i cancelled the sale immediately .

[fehk2001]

10 minutes ago, pricha said:

I had a strange experience today. I sold my Three Graces on eBay. The seller paid up THEN asked questions about condition etc.  Then we stated he wanted it posted to NGC in London, i had to value it at £100 , and not use a lot of packaging ?  Not sure what he meant by £100 . As i offered free postage Special Delivery and was going to pay extra insurance up to £2000 , no way was i going to value the coin at £100 . It made no sense. Then he replied he was a dealer in Japan and often bought coins this way, they got it graded and forwarded on to him.  I cancelled the sale. No doubt he was genuine but the coin needed to be checked by a third party . If i sent an empty box surely he wouldn't have a leg to stand on ? 

some people are strange, they can buy a 50k car, but they dont want to pay a few hundred to change a worned tyre .........

Edited March 2, 2021 by fehk2001