Auction 155 Highlights
Welcome to Smalls Auctions Sale 155
It has been quite a while since we offered a selection of high-grade Australian Pre-decimal coins in our Sale, so we thought this was a good time to set the record straight and accommodate collectors of this series.
Many of the coins on offer were third-party graded by NGC and PCGS quite a few years ago and so there is the opportunity to send in some of the coins for a regrade with the distinct possibility that they will achieve a higher result. We have certainly noticed a growing trend in recent years that coins which were graded coins five to ten years ago and are resubmitted to both PCGS and NGC quite often achieve a higher grade second time around, and we have noted in our descriptions coins that we believe were harshly judged the first time.
A good way to explain the nuances of the third-party grading process is to take the example of a mint roll of coins that is sent in for grading.
First, imagine a grader opening an intact mint roll of say forty uncirculated coins and naturally separating them into uncirculated, choice uncirculated (better) and gem (best) before assigning them their various M(int) S(tate) grades.
From the smaller pile of gems, the grader will be inclined to leave most as MS65s, separate out a couple of MS66s, a very occasional MS67 and an almost impossible MS68. The moral of the story is that you are more likely to score a clutch of high-grade coins from a mint roll, but of course this usually only applies to coins from the 1940’s on as very early mint rolls are as scarce as hen’s teeth in the Australian Pre-decimal series.
Now, imagine the situation of a grader looking at a single coin in isolation without the benefit of thirty or forty comparison coins readily on hand. Being new to the series, he will likely be more judgemental of a single coin making it significantly harder to achieve a very high grade. However, once he has looked at more coins in a series, and got his eye in, his critical judgement is likely to change and the bar to perfection is raised. Of course, if you apply this process across all the graders in a company like NGC or PCGS then some coins once adjudicated as MS64’s become MS65s and MS65s become MS66s and so on and so on.
And of course, if a coin achieves a ‘+’ grade or an extra full point them the financial ramifications can be substantial adding hundreds if not thousands to its value.
But a Sale cannot only be about coins and so we have also included a cameo collection of jewellery as well as some tribal art and artefacts from Australian Aborigines for a little variety.
We hope you enjoy what is on offer.