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

C

Contrarian

New Member
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
 
australia-1937-5s.jpg


The Australian Crown was minted only in the years 1937 and 1938. It depicts an image of a royal crown on the reverse designed by George Kruger Gray and George VI portrait on the obverse by Thomas H Paget. It's denomination is 5 shillings.

The Australian Crown was initially issued in 1937 to mark the occasion of the coronation of George VI. Many of these were hoarded as keepsakes of the occasion. Because of this popularity it was released again in 1938 but without much success. As a new denomination and a large coin weighing 28.27g with a 38.5mm diameter it was considered too heavy and awkward to be carried for everyday usage. The 1937 crown has a mintage of 1 008 000 and the 1938 a mere 101 000 thus the 1938 is the rarer more sought after coin.

Because of the hoarding of the 1937 crown it is quite common to see these coins in mid-grade however rarely seen in the lowest grades and difficult to obtain in the highest grades. The highest point to note in the design when looking for wear is the cross in the orb of the crown and how distinguishable it is. Crowns are often found with heavy bagmarks because of the heavily reeded edge and the large fields.
Click to expand...

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 :)

161_p1010413.jpg


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
 
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
 
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 ;)
 
Contrarian said:
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
Click to expand...

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 :)
 
Austacker said:
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 :)
Click to expand...

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
 
goldpelican said:
I'd never clean a 1938 unless it was in "write off" condition.
Click to expand...

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

Pretty nice, I must say.
 
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.
 
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
 
millededge said:
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
Click to expand...


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
 
goldpelican said:
Auspm said:
I didn't clean the 38. That's the condition we received it in.
Click to expand...

I did see that in your original post. It's in fantastic condition.
Click to expand...

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!
 
You must log in or register to reply here.
Back
Top