2005 Gold Sovereign

[thanasis]

Hello forum!

Today I stumbled upon a slabbed 2005 Gold Sovereign which was graded by NGC with a grade of "PF 64 ULTRA CAMEO" and priced at 680£. So I am curious why it's PF 64 and not PF 70 or even PF 69. Is it a manufacturing error by the mint? Or was it originally a high graded proof coin and the owner just couldn't help himself and touched it? Is it considered a B Stock Proof coin and also what should be the price difference between a PF 70 and PF 64 coin of this date?

[richatthecroft]

14 minutes ago, thanasis said:

Is it a manufacturing error by the mint? Or was it originally a high graded proof coin and the owner just couldn't help himself and touched it?

Unlikely a Mint error. Might be a combination of all this- poor quality to start with but more likely the latter, it’s probably just had a hard life.

Value- price of a bullion sovereign plus the grading fee- about £350- £360 landed, and certainly not much more.  
 

£680 is a silly price-  you would easily buy a 2005 PF/ PR70 UC for this price.

Edited April 26, 2021 by richatthecroft

[Clockpuncher]

There can be lots of reasons why a coin slips down the grading scale - both down to manufacturing errors (the dyes they use to mint the coins wear out over time so details become less sharp, cracks can appear in the dyes, the 'frosting' might not be perfect or there might be some scrapes as it was removed from he dye) and also post mint issues - handling marks, scrapes etc.

There is no real foolproof way to tell where the damage might have occurred. That being said, a PF64 is still a nice(ish) coin but I would steer clear as a modern proof - it's effectively impaired in a market where most people want PF70s (or at worst PF69). It is also very expensive at that grade - eg a 2005 PF70 1 sov sold at £775 in Coin Cabinet's December auction, a PF69 went for £460 in January's auction.

Pay a bit more, buy the best quality you can in the graded market and it will end up being a lot cheaper in the long run compared to this coin which you will find very difficult to shift in you ever decide to sell.

 

Edited April 26, 2021 by Clockpuncher

[Allgoldcoins]

Any modern proof coin grading at PF64 is not worth much more than a bullion coin, it has very little or no value as a proof coin. All modern proof coins should grade 68-70 without exception. If I got a sub 68 from the Mint I would send it back as not fit.

I can't advertise but I know here you can buy a @pf69-70 example for £750 😊

[thanasis]

@richatthecroftYeah I also thought that 680£ is a silly price especially for that grade, concerning what @Clockpuncher said that modern proof should be graded at least PF69. I'm like "B*tch it's a 2005 coin, not a 1825 one" 😄. That being said I also checked another listing of this seller and he was selling a 1990 sovereign for 480£, which had a note by NGC as ***NOT ENCAPSULATED*** / RESIDUE. I'm guessing a silly price as well and this guy is just a small-time scammer taking advantage of people's ignorance.

[evende]