1937-1938 crowns....good price or not

Discussion in 'Silver Coins' started by Contrarian, Jan 1, 2011.

  1. Contrarian

    Contrarian New Member

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    Just bought a 1937 and 1938 crown for $234 shipped.

    I know very little about their numismatic value as they are not something that I follow but the price seemed reasonable based on the little that I have read.
    I know even less about coin grading but they appear to be in very good condition.

    I'm yet to see a crown in the flesh so am looking for forward to receiving them.

    Is this a reasonable price for the two crowns? What do they normally go for?

    C
     
  2. Guest

    Guest Guest

    [​IMG]

    http://www.australian-threepence.com/blog/2008/12/the-1937-and-1938-australian-crown.html

    I can get 37 Crowns for around $35 to $45 in the current market. They ARE numismatic, but not as rare as the 38.

    The 38 is a lot more rare and in good nick can fetch upwards of $200 easily.

    I have a few of the 37s, my daughter has a 38 :)

    [​IMG]

    Her 38 was a gift from her grandmother and as you can see, it's in damn fine nick. I didn't even need to clean it & the details are terrific. She normally has it encapsulated, but I pulled it out for the photo.

    As long as your two are in good nick, I think you paid fair market price for the two coins.

    Be sure to pop up a photo when they arrive!

    Cheers
     
  3. Contrarian

    Contrarian New Member

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    Thanks Auspm,

    Sounds like a fair deal then.

    Even though I haven't seen one yet and swore that I'd never venture into numismatics I can certainly see myself developing a "thing" for the 1938 Crown.

    Your daughters 1938 looks like a beauty!


    C
     
  4. Guest

    Guest Guest

    I have a soft spot for Australian coinage, especially pre-decimal currency. Back when our money really was money!

    The 37 crowns DO have a numismatic quality to them, but considering they also have .8 of an Oz of silver in them, they have a tendancy to move more on their silver value than their numismatic value. Earlier this year, I could source sub $30 1937s no worries. Now, not so easy ;)
     
  5. Matthew 26:14

    Matthew 26:14 New Member

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    Perhaps you should put an ad in the Trading Post "1937 crowns, $4 paid, act quick" :)
     
  6. goldpelican

    goldpelican Administrator Staff Member

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    I'd never clean a 1938 unless it was in "write off" condition.
     
  7. Austacker

    Austacker Active Member

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    It sounds fair but it is a bit of a risk to spend this sort of money if you do not know a lot about it. Was it a trusted source ?

    I wish you luck as you have headed down the numismatic path, once you enter it becomes very addictive even more so than Bullion IMO.

    Read some books and get some publications, I was reading in one of the Australian Coins mags and they mentioned fake 1938 being advertised on Ebay so you need to know what you are looking for and how to compare. Grading is a very difficult area and is so subjective it makes it hard to really grade accurate in some cases. A small variation in grading can mean $100's at times.

    Look forward to seeing your shots when coins arrive :)
     
  8. Contrarian

    Contrarian New Member

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    They were buy it now on Ebay hence why I was a bit unsure if it was a good deal. Normally buy it now prices are inflated.

    After a 5 second SS search on the 1938 I jumped in and got them.

    There's no mention of copy and they don't have copy marked on them. Will just have to wait and see.

    Seller seems to be reputable.


    C
     
  9. Guest

    Guest Guest

    I didn't clean the 38. That's the condition we received it in.

    Pretty nice, I must say.
     
  10. millededge

    millededge Active Member

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    there was an article posted not long ago, on how to distinguish a Chinese faked 38 from the original.

    The fakes are produced by a technique called "spark erosion"

    You can read more about it here:

    http://www.sterlingcurrency.com.au/research/new-counterfeit-kids-block-chinese-dud-coins

    The poster also compared a variety of fake/real coins, including the 38.

    To really tell a fake, you'll need to compare your item with the known attributes of the 38, such as diameter, thickness and precise weight, here:

    http://www.australianstamp.com/coin-web/aust/crown/1938crn1.htm

    To do this, ideally you have access to a coin loupe (a small monocle-like magnifying glass), coin calipers and a small digital scale for weighing coins.

    I'm sure you could take it in to a coin dealer, who would most likely be very happy to let you use the equipment.
     
  11. millededge

    millededge Active Member

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    I paid 195 for my 38 (graded VF), which was dear at the time I thought (about September, pre-spike), though it was from the only shop in that town.

    I saw the same item in a Sydney shop about a month ago, for 175.

    With any luck, you'll find 37s for 30, though more likely 35. Forty seems high, if it's a lowish grade.

    You can read more about coin gradings below, if you are unfamiliar with them:

    http://www.australianstamp.com/coin-web/history/grading.htm
     
  12. millededge

    millededge Active Member

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    but five bucks is nothing to quibble about when it comes to silver :p
     
  13. Contrarian

    Contrarian New Member

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    Thanks Millededge,

    Will check them out when they turn up.

    Can you get coins officially graded so that they can be sold as that grade or is grading always based on subjective assessment by the buyer at the time?




    C
     
  14. goldpelican

    goldpelican Administrator Staff Member

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    I did see that in your original post. It's in fantastic condition.
     
  15. THUCYDIDES79

    THUCYDIDES79 New Member Silver Stacker

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  16. Guest

    Guest Guest

    My mother in law had that and a number of others sitting in her collection since before they stopped being in circulation, which is probably why it's in such good nick. Once she found out my kids are stackers, she found a little treasure trove of potential gifts for many years to come :) She has a lot of predecimal, including Gold. I've told her if she ever wants to sell, I'll give her full market value. :)

    She's war generation, so she certainly understands the value of gold and silver. She's had hers tucked away now for over 50 years. Impressive, I must say!
     

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