Coin auction a chance for modest punters
Author: Richard Brewster | Posted: 24th September, 2014
Mossgreen’s forthcoming Coins & Banknotes, Stamps & Postal History auction is a great opportunity for modest punters to dabble in the gold market without burning their fingers, according to Mossgreen director Charles Leski.
“The price of gold has dropped in recent times from $1850 an ounce to about $1200,” he said. “Normally, with the current unstable world situation, investors would initiate a run on gold – which hasn’t happened this time.”
As a result, the price of anything containing gold is down as much as 35-40 per cent compared with 10 years ago.
Which means Mossgreen’s Tuesday September 30 auction from 2.30pm at 926-930 High Street, Armadale with its approximately 185 lots of gold, silver platinum and copper coins is of real value to collectors.
The range includes Australian pre-decimal examples, world coins and specially minted proof sets from the late 1980s to the early 1990s.
Mr Leski said auction estimates were conservative and did not allow for the bullion value of even the rare coins.
“Many of the coin estimates are $300 to $500 and make an ideal gift for a child or grandchild to commemorate the year they were born – and is often the way a collection is started,” he said. “By the time they reach 21, the coin can often be of significant value.”
Among the Australian pre-decimal gold coins are half sovereigns from 1873 to 1892 featuring the head of Queen Victoria.
Within the decimal range are $100 and $200 gold coins commemorating respectively the wedding of Prince Charles and Diana in 1981 and the 1988 Australian Bi-Centennary.
World gold coins are from France, Great Britain, USA and South Africa and include several 1980 one-ounce and half-ounce krugerrands.