1937 George VI £5 Proof Sovereign Set Value

[Organics]

Hi All, 

So this morning I get a call from my local coin dealer. I say local but he’s 45 minutes one way by car as I live in a rural area. He tells me he has something I might be interested in and if I could go and see him. Well, when I get that kind of call from him it’s always served me well in the past. So I dipped my work and headed off. 

When I arrived and he gave me the coins my jaw dropped. Literally. My hands actually started to shake lol 😂. I had a quick look and he said are you interested. I was like “is Schwarzenegger hard to spell”. YES off course I’m interested.

However I’m not a collector and so would be looking to sell this set on, as I can’t afford a purchase like this to hold on to. So I asked the price. He said there are some condition issues and I could take them home, have a proper look and then make him an offer. I really didn’t want to and gave him the coins back but he insisted. 

So here I am reaching out to all the sovereign experts on TSF for some advice. 

As far as I can tell the £2, Sovereign and half sovereign look ok…..ish.  However not the £5. There are 3 small dings on the edge (photographed) and scratches on the Obverse. Don’t understand how this was handled in the past. 

My gut feeling is to offer him €7000 euros for the set based on condition, but I could be way off either side. I just don’t know. Should I just walk away due to the condition? 

Look forward to hearing back from you and if anyone’s interested in this set you’re more than welcome to message me directly. 

Thanks in advance 

T 🙏

[AOB]

@James32 @Orpster @GoldDiggerDave - You guys able to assist on estimated price? 

[James32]

Well above my pay grade I'm afraid 😂

@richatthecroft maybe 

[Organics]

1 minute ago, James32 said:

Well above my pay grade I'm afraid 😂

@richatthecroft maybe 

Just asking what you think it’s worth in this condition. I’ve been doing some research and have seen some auction results. Seems to be around £10-£11k for mint sets in the box. So I’m guessing this might half of that 🤷‍♂️

[James32]

8 minutes ago, Organics said:

Just asking what you think it’s worth in this condition. I’ve been doing some research and have seen some auction results. Seems to be around £10-£11k for mint sets in the box. So I’m guessing this might half of that 🤷‍♂️

Really a shame about the £5 tbh. If you held a gun to my head I'd say £5000/€6000. That being said others may see it differently. 

[Organics]

9 minutes ago, James32 said:

Really a shame about the £5 tbh. If you held a gun to my head I'd say £5000/€6000. That being said others may see it differently. 

Thanks James. Kind of what I thought. About half the price of a mint set with a box 👍

[GoldDiggerDave]

PLEASE for the love of all the numismatic gods out there don’t handle coins like this!  
 

 

Edited February 14 by GoldDiggerDave

[James32]

1 minute ago, GoldDiggerDave said:

PLEASE for the love of all the numismatic gods out there handle coins like this!  
 

 

I would of said don't handle lol

[Organics]

Just now, GoldDiggerDave said:

PLEASE for the love of all the numismatic gods out there handle coins like this!  
 

 

It’s how I got them. I never handled them with bare hands. Did I do something wrong 🤷‍♂️

[James32]

Just now, Organics said:

It’s how I got them. I never handled them with bare hands. Did I do something wrong 🤷‍♂️

Those gloves can cause micro scratches, hold by the edge of coin. Or wear latex free gloves.

[sovereignsteve]

It is a poor (? ruined) set.

All the coins are substandard and wouldn't grade well. There seems to be evidence of a filed rim probably a result of a chemical test. This coin would be knocked back as a "details" on grading.

Value is uncertain, I haven't seen anything like this set for sale/auction etc so nothing to go on.

Negotiate hard and see what you can get it for and then think whether it sits comfortably with you to keep in your collection. Buying to sell would be a risk.

[Organics]

Just now, James32 said:

Those gloves can cause micro scratches, hold by the edge of coin. Or wear latex free gloves.

Oops 🤦‍♂️🤦‍♂️🤦‍♂️

[GoldDiggerDave]

1 minute ago, James32 said:

I would of said don't handle lol

I’m to busy crying…….Jesus at best it’s a spot +20% 
 

just how many great coins out there have just been F up by F whits. 

[Organics]

2 minutes ago, GoldDiggerDave said:

I’m to busy crying…….Jesus at best it’s a spot +20% 
 

just how many great coins out there have just been F up by F whits. 

And here I was just yesterday saying what a nice and friendly place TSF is 👍👍👍

[James32]

1 minute ago, Organics said:

And here I was just yesterday saying what a nice and friendly place TSF is 👍👍👍

I don't think @GoldDiggerDave is referring to you. He means the original owner/owners who allowed the coins to end up in that condition. 

[Orpster]

4 minutes ago, Organics said:

And here I was just yesterday saying what a nice and friendly place TSF is 👍👍👍

Dave is not talking about you mate, those coins clearly have a history of abuse and as a coin lover he is clearly upset by that

1937 is obviously a key date but even conserved those coins would be unlikely to grade well.  They would make great date holders though and I don't think you would struggle to sell on those you did not want to keep even in that state.  I would go for £500 per sovereign equivalent as a maximum if you want to buy them - so £4250.  Less if you can.

Seems low I know, but a lot of that will be tied up in the quint  

Edited February 14 by Orpster

[9x883]

5 minutes ago, Organics said:

And here I was just yesterday saying what a nice and friendly place TSF is 👍👍👍

Just to echo what @James32and @Orpstersaid, Dave is not referring to you. Sad to see those coins in that condition. Send 'em back and grab a Charioteer on the sellers page😅😅😅😅

[lxy70713]

It is hard to give a figure out £££ without knowing the grades since they are handled

Best to ask what does the dealer wants. 👍

[Organics]

13 minutes ago, 9x883 said:

Just to echo what @James32and @Orpstersaid, Dave is not referring to you. Sad to see those coins in that condition. Send 'em back and grab a Charioteer on the sellers page😅😅😅😅

From the sounds of things they’ll be going back tomorrow 😉

[Organics]

20 minutes ago, Orpster said:

Dave is not talking about you mate, those coins clearly have a history of abuse and as a coin lover he is clearly upset by that

1937 is obviously a key date but even conserved those coins would be unlikely to grade well.  They would make great date holders though and I don't think you would struggle to sell on those you did not want to keep even in that state.  I would go for £500 per sovereign equivalent as a maximum if you want to buy them - so £4250.  Less if you can.

Seems low I know, but a lot of that will be tied up in the quint  

Thank you for your response. Sounds like to much hassle. They’ll be going back tomorrow but nice to have in my possession, even if it was for just a day 🙏

[Organics]

23 minutes ago, James32 said:

I don't think @GoldDiggerDave is referring to you. He means the original owner/owners who allowed the coins to end up in that condition. 

 

30 minutes ago, sovereignsteve said:

It is a poor (? ruined) set.

All the coins are substandard and wouldn't grade well. There seems to be evidence of a filed rim probably a result of a chemical test. This coin would be knocked back as a "details" on grading.

Value is uncertain, I haven't seen anything like this set for sale/auction etc so nothing to go on.

Negotiate hard and see what you can get it for and then think whether it sits comfortably with you to keep in your collection. Buying to sell would be a risk.

Thank you for your response 🙏

[Spyder]

It is so sad, but is seems those coins were played about with. Those are not micro scratches by wearing cotton gloves. Those have been slid across the table and the 5 sovereign dropped. Why is the date completely different in the £5, that looks suspicious. All the other dates the 3 is curved and that one it is straight

[Clockpuncher]

The condition 😬

 

[richatthecroft]

Clearly, not the best condition Set but the photographs aren’t the best either- these 1937 sets need to be seen in hand to accurately appraise them- and even in extremely high grade, they often present with multiple surface scratches and photography doesn’t flatter.

The most notable observation for me, aside for the indefensible filing to the edge of the 5 Sovereign (or knock if this is the case), is the weak Cameo on all of the coins, but again, the photos might be deceptive- in hand, maybe the overall eye appeal might be more attractive than depicted and perhaps one or two of the lower denominations might be decent grades?

I wouldn’t be attracted to buying such a set, but for the right money, everyone would buy! 
 

47 minutes ago, Spyder said:

It is so sad, but is seems those coins were played about with. Those are not micro scratches by wearing cotton gloves. Those have been slid across the table and the 5 sovereign dropped. Why is the date completely different in the £5, that looks suspicious. All the other dates the 3 is curved and that one it is straight

I think the 5 Sovereign is absolutely fine in terms of authenticity- here’s an authenticated 5 Sovereign to compare the numbering/ lettering.

For reference, this 5 Sovereign is graded by PCGS PF67 DCam-

https://www.pcgs.com/cert/31967971

Not my coin!  But please note the surface marks in the fields. 

Edited February 14 by richatthecroft

[Coverte]

1 hour ago, Orpster said:

1937 is obviously a key date but even conserved those coins would be unlikely to grade well.  They would make great date holders though and I don't think you would struggle to sell on those you did not want to keep even in that state.  I would go for £500 per sovereign equivalent as a maximum if you want to buy them - so £4250.  Less if you can.

Seems low I know, but a lot of that will be tied up in the quint  

This sounds about right to me, you have about £3800 in gold content, plus whatever someone values poor quality proofs at and about £500 is tops IMHO.

- not an easy sell, a great shame as those have potential for over £10k in properly stored unmolested condition, but like so many sets - they're not - and auctions tend to reflect on that badly.

Also, you can still currently pick up a full 5 coin KC3 coronation set for under £4500 - so use that as leverage (meantime I'm monitoring KC3 current health issues closely 🤑 )