1937 George VI £5 Proof Sovereign Set Value

[Organics]

54 minutes ago, richatthecroft said:

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! 
 

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. 

Yes I agree I didn’t take the best photos. Have to figure that out. Thanks for your feedback 🙏

[Petra]

Unfortunately the way we look at these coins now is no doubt very different to the people who could afford to buy these sets when they were new. No doubt the owner would get his mates together after the big dinner, cigars and booze out and then …. hey look what I’ve got…. followed by everyone having a good hands on look at them, then back in the draw! Then repeat!😮 The good thing is that they’ve managed to stay together 🤔

[Organics]

1 minute ago, Petra said:

Unfortunately the way we look at these coins now is no doubt very different to the people who could afford to buy these sets when they were new. No doubt the owner would get his mates together after the big dinner, cigars and booze out and then …. hey look what I’ve got…. followed by everyone having a good hands on look at them, then back in the draw! Then repeat!😮 The good thing is that they’ve managed to stay together 🤔

Thank you Petra. Very, very true 👍. I know this is a bit of a random question but were you a member on the Banksy Forum many years ago? There used to be someone on there with the username Petra too 🙏

[Petra]

Just now, Organics said:

Thank you Petra. Very, very true 👍. I know this is a bit of a random question but were you a member on the Banksy Forum many years ago? There used to be someone on there with the username Petra too 🙏

Cheers😮no I’m not … it’s a family name🤔 good luck with whatever you do, don’t stress!😮👍

[Organics]

12 minutes ago, Petra said:

Cheers😮no I’m not … it’s a family name🤔 good luck with whatever you do, don’t stress!😮👍

No stress at all. Always great advice from members. They’re going back tomorrow 🙏

[Stuntman]

Late to the party here, but I agree that these would be a very tough set to resell.  I suspect anyone in the market for a 1937 set would not want to compromise on quality this much, without paying a rock bottom price.  And many of these people probably wouldn't go for this particular set anyway.

Definitely one to avoid unless you can pick it up for not much over spot.  But I'd still avoid unless you wanted to keep it.

[refero]

If you buy this set to re sell, as it looks, i would never do that!!…

these are coins For collectors, not stackers. If a collector is to spend few quids he will always (i dare say) choose to walk the extra mile and get a better one. 
i personally would never enjoy this set even bought for 5000 gbp. I d rather spend 8000-9000 and hold somethin woooow.

 

[Organics]

5 hours 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 🙏. I’ve taken all comments on board and they’re going back tomorrow. 

[Spyder]

If I was in your position, I would see if the dealer is willing to split the set, If he is I would buy the full and and the half.   You will still make a decent profit on those two coins if you can buy for about 20% over spot. There are many buyers who would buy those just to fill a missing coin in their collection, until they get around to buying a better condition one. 

Tell the dealer you have spoken to many experts and there is no way any of those coins can be graded and thus are not worth a lot more than spot +20%

[sovereignsteve]

43 minutes ago, Organics said:

Thank you for your response 🙏. I’ve taken all comments on board and they’re going back tomorrow. 

Do you know his bottom price? I'd buy them at the right price.

[Organics]

18 minutes ago, Spyder said:

If I was in your position, I would see if the dealer is willing to split the set, If he is I would buy the full and and the half.   You will still make a decent profit on those two coins if you can buy for about 20% over spot. There are many buyers who would buy those just to fill a missing coin in their collection, until they get around to buying a better condition one. 

Tell the dealer you have spoken to many experts and there is no way any of those coins can be graded and thus are not worth a lot more than spot +20%

Ok. I’m seeing him first thing and will ask. I’ll let you know what he says  🙏

[Organics]

8 minutes ago, sovereignsteve said:

Do you know his bottom price? I'd buy them at the right price.

I’ll ask and let you know tomorrow 🙏

[Organics]

@sovereignsteve @Spyder I took the coins back today and made him an offer of €5000. I explained the reasons behind the offer. He didn’t say no. He just said he wants to show a couple of other collectors and see if they make an offer. I get the distinct feeling he was expecting more. Let’s wait and see 🙏

[refero]

Hope for you he will decline your offer. Those coins will be a pain to sell for a reasonable price./ margin. This set is not rare at all, just expensive. It shows up in every single decent Auction and collectors are pretty demanding when it comes to proofs 

[Organics]

@Spyder @sovereignsteve went to see my coin dealer this morning and he sold the set. He didn’t tell me to who but he did say another dealer who paid €9000.00 for them. Seems high to me but who knows. Maybe he’s already got someone for them. Condition issues aside, it was nice having them. Even if it was for 24 hours 🤷‍♂️ @refero you’ll be like “phew that was a close one” lol 😂 

[sovereignsteve]

1 hour ago, Organics said:

@Spyder @sovereignsteve went to see my coin dealer this morning and he sold the set. He didn’t tell me to who but he did say another dealer who paid €9000.00 for them. Seems high to me but who knows. Maybe he’s already got someone for them. Condition issues aside, it was nice having them. Even if it was for 24 hours 🤷‍♂️ @refero you’ll be like “phew that was a close one” lol 😂 

I don't think that was a close one at all. €5k would a decent buy. I'm working on the saaumption that the photos made them look worse than the ywere, which is common with proof coins.

Dealers know their customers and they will have been working on the "other fool" tactic🤔