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Forum Home > British India > WOW : 1926 1/12 Anna MS 66

broken compass
Limited Member
Posts: 230

I was following this auction and I did not expect this to go at this price!!!

http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=310331256407&ssPageName=STRK:MEWAX:IT

Sometimes, it helps to keep an eye for the best and send them in for grading. This coin is worth $2-5 in the raw.

July 17, 2011 at 9:49 PM Flag Quote & Reply

Harry
Limited Member
Posts: 43

Yes, I agree that the price paid is too high even in this market. However, there is something to be said about MS66 grades, they are , in general, the highest mint state grade given to British India coins by NGC. An MS 66 coin has very few nicks or surface marks and are close to flawless under 5 times magnification. The next is the color designation of RD (red), correct me if I’m wrong but a coin must be fully red (no brown spots) to get the RD destination. Given that that it’s a copper coin, it’s harder to get an 85 year old copper coin that’s red.

 

I checked the NGC census reports and there have been four 1926B 1/12 Anna coins so far (as of 2 Dec 2011) graded as MS66 RD and none higher. Incidentally, in the NGC census report for 1/12 Anna of British India from 1862 to 1916 there is only 1 coin that is graded MS67 and that is a 1928B 1/12 Anna! Now that’s the coin I would like to get but not at $190!

December 2, 2011 at 3:57 PM Flag Quote & Reply

broken compass
Limited Member
Posts: 230

I have a friend who has one of the 3 British India 1/4 coins graded MS 67 by NGC. His currently offer for that is $800 according to him. Crazy isn't it?

The population reports for Indian coins on TPGs is kind of skewed because a lot of Indian coin collectors keep their coins in the raw and not graded. And a lot of people have BU coins like the Indian 1/12 anna and 1/4 anna in the raw because its raw book price is $3 and they dont want to send it in for grading spending $20 + shipping. 

December 3, 2011 at 12:07 PM Flag Quote & Reply

Harry
Limited Member
Posts: 43

I agree that the NGC numbers are skewed right now as you pointed out that most coins remain "raw" and only an extreemly small percent is graded. Having said this, I think that MS 66 and MS 67 will still be hard to get, most Unc copper coins if submitted will come back MS62 or less. Again, time will tell. 

 I belive its a good opportunity to look out for high grade red copper of British India as they are in my opinion currently undervalued.  Krause prices do not reflect how difficult it is to get some of QV, Edward or early KGV high quality red copper.   Copper in tropical countries like India/Singapore does not keep well due to the high humidity and thats why they need to be slabbed or sealed. 

I could be wrong but do collectors really have alot of high quality copper as in MS64 or better , even as raw coins? Especially early ones pre 1920's?  My feeling is that copper coins have been largely ignored and there is a general thinking that they are common but I belive that true high grade British India copper is really not so common.

December 4, 2011 at 12:13 AM Flag Quote & Reply

broken compass
Limited Member
Posts: 230

From my experience, MS 64 British India coppers are easy to find post 1920. 

The 1/2 pice is really hard to find relative to 1/4 annas and 1/12 annas even though they were minted in large numbers. It's really wierd how few of the 1/2 pice coins are there relative to other copper coins. There has to be a reason for that! Have you noticed this too?

There are certain years of 1/4 annas that are easier to find in high grades like 1889 and 1858 but rest of the 1/4 annas of 1800's are hard to come by in high grades.

December 4, 2011 at 6:29 PM Flag Quote & Reply

Harry
Limited Member
Posts: 43

Thanks for sharing your observations, I have noticed that coppers of 1920s or later are easier to find, but did not notice that 1/2 pice are harder relative to 1/4 and 1/12. Although, I have noticed that 1/12 Annas are easier to find compared with 1/4 annas. You can see a number of red 1/12 annas on ebay selling between $5 and $10, however, not sure how they will grade on NGC. Dealers don't sell them that cheap and they are often priced around $25.

Incidently, the following auction on ebay just ended. 1929B 1/12 Anna MS66 - sold at $55! http://www.ebay.com/itm/330647301697  . Even though its high its no where near the $190 that you posted about.

 

 Randy Weir a dealer in Canada who sells a lot of India coins is getting a book out on British India coins. He may be a contributing author, the book with prices is due out sometime in Feb 2012. He just told me, and I quote "I just finished the Victoria 1/12 annas and the cheapest Unc is priced at $50.". When he says Unc he is talking about MS61 brown (I assume).

December 5, 2011 at 12:21 AM Flag Quote & Reply

broken compass
Limited Member
Posts: 230

I have been really looking forward to his book too!! He is one of the most respected coin dealers for Indian coins, is very knowledgeable and has on many occasions helped Baldwin's auctions and wrote a part of their Diana collection auction catalog too. 

December 5, 2011 at 1:12 AM Flag Quote & Reply

broken compass
Limited Member
Posts: 230

Regardint the variation in prices between the 1926 and 1928 MS 66, I cant think of any better explanation to think that there may be many noobs out there who might be interested in collecting and might have gone a little too overboard bidding. And as always its a supply/demand game. There is plenty of demand for Indian coins and the supply is just trickling so there are lots of spikes. Just my guess.

Because nothing else can explain this. (Unless I am missing something about this coin)

http://www.ebay.com/itm/390368746227?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1438.l2648#ht_500wt_1202

December 5, 2011 at 1:17 AM Flag Quote & Reply

Harry
Limited Member
Posts: 43

Yes you are right, its a question of supply and demand and in this case could be speculation or getting caught up in the auction bidding frenzy.  As more coins get graded the real value of GEMs will be established. We as collectors just have to navigate through this and hunt out the GEMs thats the fun of collecting - its the hunt that I enjoy too. 

Also, I incorrectly stated that the 1928 1/12 Anna was an MS66, it was an MS65 that sold for 55.

December 5, 2011 at 9:31 AM Flag Quote & Reply

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