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Money makes a fortune at auction

1818 Auctioneers cataloguer Ken Payne holding a set of three modern coins which made £1,450 at auction. Credit Steve Barber.

[A] sale of mostly modern silver and gold coins from around the world and bank notes and bars made £78,000 at 1818 Auctioneers first specialist sale (Mon 21 May).

Of the 194 lots catalogued by expert Ken Payne, the large majority came from a Lancaster collector including Australian Kangaroo, Chinese Panda and Canadian Maple leaf coins, gold coins, Sovereigns and silver bars.

Other items that were up for sale were an Elizabeth I sixpence dating back to the 1500s and a 1877 Queen Victoria half crown,  as well as albums, tins and bags of coins.

They sale attracted bids from the UK, the Netherlands, Spain, Canada and Cyprus.

1818 Auctioneer David Hunter said he was delighted with the results which exceeded their bullion value, the more usual way to value a coin’s worth based upon the amount of metal in it.

As David Hunter explained: “This was a highly unusual first sale for us. We didn’t expect new money to make so much. Many of the coins sold for the high hundreds of pounds to collectors who were so keen to bag the coins they paid more than the bullion value. We had over 100 coin buyers bidding online, and 56% of the lots were won by them, the other 44% were sold to people in the auction room.

“In today’s collecting and investment markets, the talk is all about gold and silver bullion coins. Gold coins range from UK half-sovereigns to £100 coins. Some countries – USA, South Africa, Australia, Canada and UK – also mint one ounce pure gold coins. The face value of a £100 gold coin is £100 but its actual bullion price is currently £950.

“The bulk of the auction came from a deceased estate in Lancaster, made up of mostly modern gold and silver coins collected in the late 20th and early 21st centuries.

“The lot which captured the most interest was a gold 1989 United Kingdom Elizabeth II proof Sovereign three coin set which sold for £1450” added David Hunter.

Further details of the sale can be found on the results page of the auction tab on the auctioneers’ website www.1818auctioneers.co.uk

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