Spink's rare coin sale surpasses expectations by breezing past $1m



2015-06-26 12:27:07

Spink's rare coin sale surpasses expectations by breezing past $1m

Elizabeth I proved to be the surprise hit of the auction, where most estimates were beaten...

Spink's sale of rare and valuable coins in London proved a success, with many of the top lots pulling their weight to sell above their estimate today, June 23.

Providing the surprise of the day however was the 1558 Elizabeth I precious 30 shilling coin, which ended up making a fantastic price of 56,000 ($89,420), almost three time higher than its estimated worth.

As expected, another one of the stars of the show was the beautifully detailed Chinese patterned Kuping Tael, which cashed in on its incredible rarity to sell for 46,000 ($73,506), above its lower estimate.

The gold coin depicts a symbolic Chinese dragon surrounded by clouds on its face, with the value, date and inscription 'Ta Ching Gold Coin' on its reverse.

 Selling for almost three times its estimate, this Elizabeth I coin was the big surprise

Following not too far behind was the third best seller, an extremely fine Elizabeth I gold Half-Pound coin, dated from the 1560s.

The richly detailed piece, described as 'a superb example', smashed its estimate of 12,000-15,000 ($19,000-23,000) to sell for 26,000 ($41,516). This is not surprising given its still fantastic condition and provenance.

Switching from the Tudors to the Stuarts, another fine lot, a 1631 Charles I coin, sold for above its expected value to make 20,000 ($31,933).

Though not in quite as good condition as the Elizabeth I, it still clearly deserved to sell for a high price.

 This Chinese coin sold for above its lower estimate for $73,506

Other lots worthy of mention include another Elizabeth I coin, made during the latter stages of her reign, which sold for 15,000 ($23,000) and a Prussian Wilhelm III coin from 1838 which reached 15,500 ($24,762).

With the main items in the collection selling well, and the majority of them beating their estimate, clearly the market for numismatic sales is strong right now.

Indeed, the event made a total figure of 920,395 ($1,468,753), which is news sure to delight investors and auctioneers everywhere.

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