Graded Conis: Caveat Emptor

Here below are three Gold Angles - two Henry VII and one Henry VIII coming up for auction in the next few days and weeks.  The first is graded Good VF in the St James and is estimated at about $3000 all in.  The Second is Graded MS 65 in the Heritage and is estimated at about $20,000 all in.  The third is the  Henry VIII graded MS 64 - also St James - pedigreed from the millenium collection and estimated at $11,000 all in.

The first Henry VII coin has a very nicely struck up Angel.  In many respects it is a far superior coin to the second Henry VII.  It is estimated at one seventh the cost.  If it were graded though it looks to be about an AU 50.  Not nearly as impressive to many collectors as an MS 65. 

The Henry VIII also has a nicely struck up angel and like the MS Henry VII it has loads of mint luster.  

It is an interesting question which of the three would be the best buy - at the estimated prices.

Certainly,  five years ago the least valuable of the lot would have been the MS 65 Henry VII.  Had you bought it then, and gotten it graded you now could sell for quite a bit more.  But now, looking at the three I'd guess the MS 64 would appreciate most since the strike is nice and the grade is set in stone.  Then I'd go with the Good VF Henry VII, since it's a beautiful coin with a tremendous strike, despite  some honest even wear.  Lastly and least I'd go with the MS 65 Henry VII.   It's just an ugly ugly coin.  Tough to see how a grade can overcome that handicap. 

But the trend right now is with the highest grade.  And as they say, the trend is your friend - until it's not. 

It will still be interesting to see how they all price out.


 British Coins and Medals. Henry VII , angel, type V, mm. cross-crosslet (1504-1505),  Estimate: 1'600 GBP   |   Starting price: 1'280 GBP





Henry VII (1485-1509) gold Angel ND, S-2187, Pheon (arrow) mm, struck 1505-09, MS65 PCGS, a coin of staggering quality,   Estimate: $15,000 - $17,500.


 

Estimate: 5'500 GBP   |   Starting price: 4'400 GBP

GBP

British Coins and Medals. Henry VIII , third coinage (1544-1547), angel, mm. lis, crowned, the archangel Michael slaying the dragon, rev. ship holding shield, cross above (S.2299; N.1830), in plastic holder, graded by NGC as MS64