Coin Cabinet Auction 1989 PF70 Sovs

[Colnago]

Hi folks… Just a wee question on the 1989 PF70 Sovs, todays auction had a PF70 Sov which sold for £2000.

Previous CC auction only a few weeks ago had a PF70 Double Sov which sold for £1950.. Can someone explain this please? 
 

Is the Sov more sought after then the double? Or did the lucky buyer of the double just get a great deal?

[MJCOIN]

Personally I would say the sovereign went for too much money. 

[AppleZippoandMetronome]

I missed the auction today which is a shame as I was registered and had my eye on a few lots. Looking at the results two of the three items I was interested in sold for significantly more than I would have bid and that I think they're worth. Having gotten home and reviewed recent posts in various coin groups it seems a lot of lots went for prices people feel were over the odds and I have to imagine that is true for this sov you mention. I would certainly say the standard sovs are more popular than the other sizes but this one likely just went for too much.

When it comes to the more popular coins the CC auctions deffo seem a great place for a seller to list an item but less so for a buyer. I keep registerering for these auctions when lots grab my eye but its been probably 18 months or more since a lot I was interested in went for a reasonable enough price to be worth bidding on. Good for the sellers in cases like that.

[FlorinCollector]

The sovereign is more desirable than the 2 sov yes. 

[dicker]

People collecting Sovs want Sovs not the doubles. Small but lucrative market.

Not one for me but appreciate why some want them but I think it’s too much.  
 

Best

Dicker

[Martlet]

Sovereign more collected i'd imagine. The 1989 Sov PF70 has been £1900-2000 for a few months so it's not a unusual occurance.  

[Colnago]

41 minutes ago, FlorinCollector said:

The sovereign is more desirable than the 2 sov yes. 

Yeah but you’re hardly gonna pay more for a single than a double surely?

[FlorinCollector]

People do. The sovereign is what the majority collect. More demand = higher price. 

With this type of coin it is not about the gold content. 

[Colnago]

2 hours ago, FlorinCollector said:

People do. The sovereign is what the majority collect. More demand = higher price. 

With this type of coin it is not about the gold content. 

Fair point.. Would love all the specials (2017,1989,2002,2005 & 2022) in doubles though 🙃

Edited February 13, 2022 by Colnago

[FlorinCollector]

4 minutes ago, Colnago said:

Fair point.. Would love all the specials (2017,1989,2002,2005 & 2021) in doubles though 🙃

yeh same for when you are older and the eyes start to go lol 

[Britannia47]

A Hot Topic. Count me in!

Yes, this sovereign  was an exception to the the rule, and has been more expensive than the 'double' for many years. Its simply more collectable! It hardly seems fair I know, but the 1989 got off to a slow start, and could be bought at much lower prices. The double Sov. is not without its merits however. Bernard Sindall designed both sides - exceptional designs.

Anyway, here's what we are talking about, for new collectors....

 

 

 

[bluffer]

Was purely looking at the auction today to gain knowledge.  Shows i have a lot to learn i guess, ones i thought would go for £xxxx went for less than £500 and vice versa.

I know they have their own history for sold lots but is there a central site that gathers records from than one auction house.  ( i know that might be difficult due to each place wanting to keep its own data, but thought i would ask anyway )  Also do coin cabinet have a searchable historic record of sales or is it just  a case of trawling thought the individual records?

 

Ta

[SidS]

Can't see me ever buying one of those, I thought they were overpriced at £350 per sovereign, when shield sovereigns were retailing at £125-£150 per piece.

It at great design the 1989, but not at any price. I could buy a few guineas or a gold noble instead at £1900-£2000 per coin.

[jultorsk]

8 hours ago, bluffer said:

Also do coin cabinet have a searchable historic record of sales or is it just  a case of trawling thought the individual records?

 

Ta

It's a recently added feature on their website, you can search per country - denomination - year - metal but this one shows only archives 6 months back.  You'll need to register to get access to the results archive though.

Or, just search all past auctions on their auction site - that one shows all their auctions way back when they started (what bargains there were, in hindsight!).

--

Strong prices indeed in this auction. No lack of disposable income it seems. 🤷‍♂️

 

[Britannia47]

11 hours ago, SidS said:

Can't see me ever buying one of those, I thought they were overpriced at £350 per sovereign, when shield sovereigns were retailing at £125-£150 per piece.

It at great design the 1989, but not at any price. I could buy a few guineas or a gold noble instead at £1900-£2000 per coin.

There were certainly missed opportunities for collectors in 1989 when this sovereign was issued at £149.95. with a mintage of 12,500.  Initially it was not popular. Previous sovereigns 1983-1988 were also priced the same, as were the 1990 and 1991. In other words the RM did not hype this issue ( 500th Anniversary) as they did in 2017 & 2022. Perhaps they should have!  The 1989 double sovereign was priced at £299.95  Yes, the difference between issue and auction is enormous, but I would pay that sort of money for a 1838!   I actually think I prefer the double sovereign on reflection.  By the way the RM have been asking £2250 for a graded PF69 1989 sovereign! Anyway another photo taken in daylight this time...

 

 

 

[sovereignsteve]

On 14/02/2022 at 06:04, SidS said:

Can't see me ever buying one of those, I thought they were overpriced at £350 per sovereign, when shield sovereigns were retailing at £125-£150 per piece.

I bet you wish you'd bought some then though😉

[SidS]

51 minutes ago, sovereignsteve said:

I bet you wish you'd bought some then though😉

Probably, but to be honest if it's a toss up between one of those and a hammered gold coin, then the hammered would always win out.

I just don't like proofs. If 1989 sovereigns weren't proofs I probably would have caved in.