On the 1937 Proof sovereign

[refero]

what are your thoughts guys on the 1937 Proof sovereign?

according to the ufficial sources, only 5501 four coin sets were minted (no additional single full sovs around) and still the sovereign (and all the other specimen of course) is aways sold in any decent to high level auction worldwide. Often more than one at time.

Considering the low mintage this is something i hardly understand. It is a unique proof coin, the only Georges VI sovereign available, a coronation set too! 

And still it looks like there is a massive turnover of this coin, while i was expecting thousands of collector to keep it in their collection, and very few of them available on the market, from time to time

I personally dont have it, but if i was ever to buy it, that coin would "disappear" from the market and comfortably sit in my collection for good

edit; if i think about a buyer, this is not a coin for a stacker as it holds a huge premium over spot. Investor? not sure, as this is a coin that can be found very easily and therefore not exactly a RARE one. An investment would make sense over years, decades. Only collectors left; but a collector doesnt buy to re sell..

Edited December 31, 2023 by refero

[Stuntman]

In my opinion - it's one for the serious sovereign collectors who want an example of every monarch, and there probably isn't all that much upside/profit potential compared to putting the same money into other gold coins if you were to buy the 1937 at current prices. 

I think it may have been worth buying 10-15 years ago (because then it was perhaps underappreciated by the collecting market), but personally I think it's now a very expensive coin that will stay very expensive, but because there were 5501 minted the price won't rise more than normal since it isn't particularly hard to find.

Hopefully that makes some kind of sense, although it's just my opinion and I'm not in the market for this coin.  I'd probably look for one or more nice bullion examples of George III, George IV (shield reverse) or William IV coins if I wanted to invest that sort of money in sovereigns.  Personally I think these designs are more interesting

[cjbcomm]

Be interesting to see how many full sets are left as plenty of the individual coins seem to come up for sale especially graded versions.

Sets seem to be making £12kish at the moment which is high enough. Was looking to purchase a set due to the one off nature of the set but price is right up there at the moment and a significant premium. Although the set does seem better value than the individual coins.

I have the empty set box in case the coins come up at realistic prices in the future. 😉

[Stuntman]

How much does a 1989 set go for at the moment?  I'd rather have that set than a 1937 set, purely from an aesthetic point of view 🙂

[cjbcomm]

4 minutes ago, Stuntman said:

How much does a 1989 set go for at the moment?  I'd rather have that set than a 1937 set, purely from an aesthetic point of view 🙂

Last proof set I saw was £8k from memory. Certainly a nicer looking coin and a one off design

[SeverinDigsSovereigns]

Collectors will buy better ones and flip their old coins that are in kesser condition. I guess that's why there are so many around.

The proof Vic are pretty much unaffordable to an average collector. Another is the George V 1911 set which heavily suffer from missing frost. 

[shawy2510]

1 hour ago, cjbcomm said:

Be interesting to see how many full sets are left as plenty of the individual coins seem to come up for sale especially graded versions.

Sets seem to be making £12kish at the moment which is high enough. Was looking to purchase a set due to the one off nature of the set but price is right up there at the moment and a significant premium. Although the set does seem better value than the individual coins.

I have the empty set box in case the coins come up at realistic prices in the future. 😉

If buying deffo go & view them as there are quite a few problem coins floating around. I got a set recently with a friend which we viewed & paid 13.5k for. We did grade them to flip & nearly doubled the investment. I have also seen 12k sets purchased & be worth about 10k

[SeverinDigsSovereigns]

7 hours ago, shawy2510 said:

If buying deffo go & view them as there are quite a few problem coins floating around. I got a set recently with a friend which we viewed & paid 13.5k for. We did grade them to flip & nearly doubled the investment. I have also seen 12k sets purchased & be worth about 10k

Agreed. The 1937 will get seriously devalues if not UCAM, and you won't know until you see them.

[shawy2510]

3 hours ago, SeverinDigsSovereigns said:

Agreed. The 1937 will get seriously devalues if not UCAM, and you won't know until you see them.

This is very true & its all about the 5 Sov, get a rubbish grade & you are not going to pay for the set unless the others are crazy high.

[refero]

still, how come the 1937 full sovereign is so often in auctions is a mistery to me

[SeverinDigsSovereigns]

3 hours ago, refero said:

still, how come the 1937 full sovereign is so often in auctions is a mistery to me

5k+ sets is quite a lot I think. How many serious sovereign collector are there with pockets deep enough to go through the old proofs?

 

[SidS]

The 1937 sovereign is up there with the 1934 crown. Except the 1934 crown is better as there were only 932 of those minted. Both behave the same though, if you want one you will have to pay for it. There is categorically no guarantee that they will appreciate in value. I speak with my numismatist hat on, rare coins are like antiques, they go in and out of fashion. What's hot one year can soon become tomorrow's brown furniture.

[Stuntman]

I wonder if the reason that 1937 sovereigns/sets appear on the market frequently is that they tend to be bought by collectors at or near the end of their collecting journey, due to the cost.  I have read that this is the case for the 1934 crown, it's one of the last coins that a serious predecimal collector with deep pockets might buy.

Because of that, the average age of these collectors is likely to be quite high, which is why these coins might appear fairly frequently on the open market as and when their collections are liquidated.

I'm just glad that I don't really want to own coins like these!

[SeverinDigsSovereigns]

16 minutes ago, Stuntman said:

I wonder if the reason that 1937 sovereigns/sets appear on the market frequently is that they tend to be bought by collectors at or near the end of their collecting journey, due to the cost.  I have read that this is the case for the 1934 crown, it's one of the last coins that a serious predecimal collector with deep pockets might buy.

Because of that, the average age of these collectors is likely to be quite high, which is why these coins might appear fairly frequently on the open market as and when their collections are liquidated.

I'm just glad that I don't really want to own coins like these!

Yes there does seem to be some very expensive coins that resurface one a while. Rare, but not too rare, and straight expensive, like some old VF 5 guineas and the 1937. There are relatively few who can afford them, and UK coins are nowhere as in demand as the US coins. I'm personally uninterested in US coins, but I can see there are just many more rich people there. Same for the Chinese coins, but those are far, far more fraudulent.

That said, there are coins so rare you'd have to buy as soon as you see one. I came across an UNC Details coin of a very desirable type, with a tiny mechanical damage barely visible with naked eyes and overall brilliant uncirculated. Which is a pity. It's still marketed for a hefty sum, and I decided to buy it, because I will likely not see another with straight grade (and comparable eye appeal) in the next decade or so and probably will not be able to afford it. 

Not sure if I did the right thing though, because Details coins don't sell these days, and I won't get the money back. Very, very, very bad investment, totally heart-driven decision. And if one day I can afford a numerically graded equivalent I'd be rich enough not to worry about the loss I took today. Still, you know, details is a dirty word today, and I avoided details coins like plague, so I'm very conflicted now.

[Stuntman]

It's really hard to know what's the best decision to make regarding those very rare coins that you want, when they come to the market, as 'show me another' rarely applies...

As long as you're happy with your purchase decision at the time you make it, then well done.  I hope you get great pleasure from its ownership 🙂

Good luck to all those contemplating purchase of any such rare/expensive coins!