On Wednesday James and Sons had a small but very important auction featuring gold coins and proof sets. We were anticipating a very considerable success, because we knew that there were bids of sufficient size on every lot that everything would sell, and we also knew that some of the items had a very large number of watchers online (one had no fewer than 17). The rest of this post tells the story of a truly amazing auction.
TUESDAY – FINAL PREPARATIONS
In view of the high value of the gold the only items that were set out on display were as many of the proof sets as I could lay out on one large table. I also made sure that the IT was all fully functional, as the last thing we wanted was for a glitch to affect this auction. I was able to enjoy the NAS West Norfolk Steak Night at The Globe later that evening in the knowledge that all had gone as smoothly as it could have (I restricted myself to a modest two pints of Ringwood Fortyniner in view of the importance of the following day).
WEDNESDAY – A DAY OF TRIUMPHS
I awoke a few minutes before my alarm was due to go off (not uncommon with me – the alarm is more insurance policy than necessity) and left my flat precisely as intended at 6:45, ensuring that there was no chance of missing the bus. Arriving at the shop, I unlocked, deactivated the alarm, then relocked the door as in view of what was in the shop I did not want customers coming in while I was there on my own. I then began to set up for the day. The auctioneer arrived not very long after me, and I was able to complete the setup, verify that everything was working and take some photographs. Before nine o’clock customers started arriving, and by 9:30 it was standing room only in the shop, as no fewer than 16 potential room bidders were present, in addition to over 60 online bidders and not a few who had put commission bids in in advance of the sale.
THE AUCTION STARTS
The first five lots were 1974 Krugerrands which were expected to make approximately £800 each and did exactly that. Then came lot 6, the James II Guinea which was one of two items that had been the subject of a query the previous day as a result of which it had extra images above the regular image gallery for such an item. Estimated at £500-750 the interest it had attracted saw the final hammer price reach exactly £1,000.
Lot 7 was a William III Half Guinea, which in relative terms fared even better since with an estimate of £300-500 it actually went for £900!
Lots 8 to 24 inclusive were half sovereigns, and all sold well, most going for around the £100 mark. Lots 25 to 90 incluisve were…
SOVEREIGNS FROM VICTORIA THROUGH ELIZABETH II
These we knew would sell respectably, because a major and long standing client whose job is to sell gold items had put in commission bids of £180 a time on the whole lot, confirming our auctioneers valuation was on the mark. Most of the sovereigns actually sold for more than that, £190 being a common figure and a few of them going to and in some cases beyond £200. Then came…
LOTS 91-5 – THE HUGE SUCCESSES
The first four of these lots were high value gold proof sets which we were expecting to be on or around the four figure mark. Actually, and barely believable they went for £1,600, £2,000, £2,000 and £1,600 respectively!!
Lot 95 was a sovereign in a gold mount with a gold chain and 8 1mm diamonds (in otherwords a very fancy necklace). Estimate at £300-400 it eventually sold for £550.
After these it was time for…
THE REGULAR PROOF SETS
Of course after what gone before the proof sets were a little bit “after the Lord Mayor’s show”, but there were still a handful of highlights to come.
LOTS 113 AND 114
These were respectively a Scottish and Welsh proof set (hence the split colouring of the heading) each expected to make £8-12. The Scottish set went for £20 and the Welsh for £18
These were a mere curtain raiser for…
A 1992 proof set featuring an EEC 50p coin the rarity of which turned a £10-15 estimate into a £50 hammer price!
The next big success was…
This 1999 proof set featuring a Diana Princess of Wales £5, a bimetallic rugby £2 and Scottish coins from £1 down to 1p had an estimate of £15-20 and ended up going for £32.
Then came two successive monster successes with…
LOTS 135 and 136
Lot 135, a 2009 proof set, featuring as it did the highly prized Kew Gardens 50p, the Henry VIII £5, and the Darwin and Burns £2 coins was estimated at £100-120 but ended up going for £220!
Lot 136 was a 2010 proof set featuring a Restoration of the Monarchy £5 (350th anniversary thereof), A Florence Nightingale £2, a London £1 and a Girl Guiding 50p. Estimated at £20-25 it sold for £100!!
Not long later came…
LOT 139 – A BITTERSWEET IMAGER’S TRIUMPH
This London Underground 150th anniversary proof set had been badly misdescribed, with one of the £2 coins mentioned as featuring trains, and the roundel coin not even mentioned, but the imager’s efforts more than compensated for this. Estimated at £25-30 it attracted sufficient interest to push the final price up to £52 (and inter alia out of the imager’s reach, hence the heading of this section).
That was the last of the yearly proof sets, but there were still a few lots to go, and two of them provided noteworthy results.
LOT 148 – A SENEGALESE STUNNER
This 1975 Senegal Triple Crown, solid sterling silver, Euroafrique 150 franc coin, boxed and with a certificate was estimated at £15-20, but a lively bidding battle pushed the final price up to £48.
A STRONG FINISH
Lot 151, the final lot in this small sale, was an accumulation box containing a few good bits and some ordinary stuff. Estimated at £40-50 it ended up going for £95.
Once the auction setup had been dismantled and the last room bidders had gone it was time for me to attend to other matters. You can view a catalogue for the general collector’s auction we have next Wednesday here.
THURSDAY – PUTTING TOGETHER A PRESS RELEASE ABOUT THIS AUCTION
Yesterday morning I produced a PR piece about the success of this sale, going big on the images as well. I conclude this piece with a link and a screenshot:
GOLD COIN AUCTION GIVES FAKENHAM AUCTIONEER BEST RESULT IN YEARS